BOSTON — WilmerHale has renewed its 201,018-square-foot office lease in downtown Boston. The international law firm will continue to occupy floors 25 through 32 at 60 State Street, a 600,000-square-foot building in which the company has been a tenant since 1977. Roy Hirshland, Thomas Fulcher, Arthur Greenberg, Ron Perry and Matthew Perry of Savills represented WilmerHale in the lease negotiations. Dan Cavanaugh, Ryan Enright and Patrick Nugen of JLL represented the landlord, Starwood REIT.
DOVER, N.J. — A joint venture between local investment firm Legacy Real Estate Developers, Saddleback Real Estate Developers and Commerce Park Investors has acquired a 126,108-square-foot office and industrial building in Dover, about 40 miles west of New York City. The building formerly housed the U.S. headquarters of Japanese electronics giant Casio. Elli Klapper of CBRE brokered the deal. The seller and sales price were not disclosed. The new ownership plans to implement a capital improvement program.
NEW YORK CITY — Dwight Mortgage Trust, the affiliate REIT of New York City-based Dwight Capital, has provided a $70 million construction loan for a proposed 180-unit multifamily project that will be located at 33-35 W. 125th St. in Harlem. The property will offer a mix of studio, one- and two-bedroom units, 30 percent of which will be reserved as affordable housing. Amenities will include a fitness center, rooftop terrace, lounge and a library, and the property will also house 17,440 square feet of commercial space. Keith Hoffman led the transaction for Dwight. The borrower is Irgang Group.
MONTICELLO, N.Y. — Locally based brokerage firm The Kislak Co. Inc. has arranged the $3.2 million sale of Jefferson Garden Apartments, a 76-unit multifamily complex in Monticello, about 100 miles north of New York City. Completed in 1969 and last renovated in 2023, the garden-style property consists of seven buildings that house two studios, 47 one-bedroom apartments, 18 two-bedroom residences and nine three-bedroom units. Janet Bortz of Kislak represented the buyer and seller in the transaction.
FAIRFIELD, N.J. — Locally based brokerage firm Resource Realty of Northern New Jersey has negotiated a 48,100-square-foot industrial lease renewal in Fairfield. According to propertyshark.com, the building at 19 Daniel Road was originally constructed on 3.1 acres in 1968. Greg Sabato of Resource Realty represented the tenant, locally based freight company Best-Way-Trucking, in the lease negotiations. Sabato also represented the undisclosed landlord.
ANDOVER, MASS. — PEAK Events has signed a 16,000-square-foot industrial lease in Andover, located north of Boston. The regional event equipment provider is taking space at 4 Executive Place, a 168,000-square-foot building, alongside Red Thread, which recently leased 96,000 square feet of space within the building. Locally based investment and development firm Marcus Partners owns the building. Both parties were self-represented in the lease negotiations.
NEW YORK CITY — TADA Youth Theater has renewed its 10,000-square-foot lease at 15 W. 28th St. in Manhattan’s NoMad district. The community program that produces original musicals for family audiences and hosts musical classes has occupied space at the building since 2002, and the renewal keeps the tenant in place for another five years. Josh Berger of Norman Bobrow & Co. represented the tenant in the lease negotiations. David Eshagpour represented the landlord, East Coast Management, on an internal basis.
BALA CYNWYD, PA. — Federal Realty Investment Trust (NYSE: FRT) and CBG Building Co. have begun leasing Blayr, a 217-unit multifamily redevelopment project in Bala Cynwyd, a northwestern suburb of Philadelphia. The project, which represents the second phase of a larger redevelopment known as Bala Cynwyd on City Avenue, is a conversion of the former 120,000-square-foot Lord & Taylor department store into an apartment complex with 16,000 square feet of ground-floor retail space. Units come in studio, one-, two- and three-bedroom floor plans. Amenities include an outdoor pool, a golf and multisport simulator and a courtyard with grills and gathering spaces. Federal Realty received zoning approval for the project in February 2024, broke ground a few months later and topped off the project this spring. The first move-ins are scheduled for March.
ROCHESTER, N.Y. — FM Capital, a financial intermediary based in South Florida, has arranged $32.5 million in bridge financing for a portfolio of four multifamily properties totaling 385 units in the Rochester area. The portfolio consists of Community Manor Apartments, Hamlet Court Apartments, Lakewood Manor Apartments and Valley Brook Townhomes, which collectively span about 32 acres. Noam Temchin of FM Capital arranged the floating-rate financing through Sheridan Capital. The borrower was not disclosed.
PATERSON, N.J. — Marcus & Millichap has brokered the $5.2 million sale of a 12,892-square-foot retail strip center in the Northern New Jersey community of Paterson. The center at 385 McLean Blvd. was fully leased at the time of sale to Bank of America, Wingstop, Krauszer’s, Tony’s Bagels, Mina Place and Crispy Beauty. Alan Cafiero, David Cafiero and John Moroz of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.