MONROE TOWNSHIP, N.J. — New Jersey-based private equity real estate firm Sitex Group has purchased a 26,000-square-foot warehouse in Monroe Township, located outside of Trenton in Central New Jersey. The building sits on a 5.2-acre site at 30 Abeel Road and offers a clear height of 36 feet and outdoor storage space. Mike Kimmel of KBC Advisors brokered the deal. The seller and sales price were not disclosed. KBC Advisors has also been retained as the leasing agent.
NEW YORK CITY — Hero’s Journey, a technology-driven fitness concept, will open a 19,500-square-foot flagship gym in Midtown Manhattan. The space spans 1,500 square feet on the ground floor and 18,000 square feet on the lower level of the retail condo at 225 Fifth Ave. Jesse Wolff and Matthew Schuss of JLL represented the landlord, CIM Group, in the lease negotiations in conjunction with the owner’s in-house leasing team. Cassie Durand and Aylin Gucalp of CBRE represented Hero’s Journey. An opening date was not announced.
RADNOR, PA. AND LOS ANGELES — EQT Real Estate, on behalf of its EQT Real Estate Industrial Core-Plus Fund II, has sold a 36-property logistics portfolio totaling 7.3 million square feet across 12 markets. A real estate investment fund managed by Los Angeles-based Ares Management acquired the portfolio for $650 million, according to various media outlets. Marq Logistics, an affiliate of Ares Management, will manage the properties on behalf of the new ownership. “This transaction highlights EQT Real Estate’s strength in creating and realizing value across the investment lifecycle,” says Matthew Brodnik, global chief investment officer at EQT Real Estate. “The team combined thoughtful portfolio construction with EQT Real Estate’s differentiated hands-on active management to build a portfolio with strong underlying fundamentals, enhance its performance and ultimately deliver an outcome that reflects its quality and future potential.” The portfolio spans distribution markets such as Chicago, Phoenix, Dallas, Atlanta, North Carolina, South Carolina, Southern California, Memphis, Columbus and Cincinnati. The properties are more than 95 percent leased to various tenants active in e-commerce, distribution, food-and-beverage and light manufacturing sectors. Amenities throughout the portfolio include 31-foot clear heights, cross-deck and rear-load configuration, truck courts and significant parking accommodations. John Huguenard, Trent Agnew, and …
NEW YORK CITY — New York-based investment firm Atlas Capital Group has purchased a 130-unit apartment building in Manhattan’s East Village. The 13-story building at 250 E. Houston St., which according to StreetEasy offers studio, one- and two-bedroom units, also houses 9,000 square feet of commercial space. Approximately 75 percent of the units have private balconies. Amenities include a rooftop terrace, landscaped courtyard spaces, an athletic club and a tenant lounge. Rob Hinckley and Jeff Julien of JLL brokered the deal. The seller and sales price were not disclosed.
NEW YORK CITY — New York-based brokerage firm Adirondack Capital Partners has arranged the $18.5 million sale of a retail property in Manhattan’s NoHo neighborhood. Birkenstock occupies the entire 2,300 square feet of leasable space within the two-story building at 120 Spring St. The seller was an entity doing business as 120 Spring Realty Associates LLC. The buyer was a nigh-net-worth Japanese investor. Michael Hunter Coghill of Adirondack Capital brokered the all-cash deal.
BRAINTREE, MASS. — Regional brokerage firm Hunneman has negotiated a 24,103-square-foot office lease in Braintree, a southern suburb of Boston. The tenant is the Massachusetts Department of Children & Families, and the space is located within Forbes Business Center, a three-building, 150,000-square-foot development. Ned Halloran and Leeanne Rizzo of Hunneman represented the landlord, KS Partners, in the lease negotiations.
GARDEN CITY, N.Y. — QSAC, a nonprofit organization supporting people with autism, has signed a 23,633-square-foot office lease in Garden City, located on Long Island. The space spans portions of the first and second floors of the building at 711 Stewart Ave. Kyle Crennan and Joe Lopresti of JLL represented the landlord, Benedict Realty Group, in the lease negotiations. Roy Chipkin of CBRE represented the tenant.
NEW YORK CITY — Affinius Capital has provided a $300 million loan for the refinancing of 102 Fleet, a 30-story multifamily project in downtown Brooklyn. Upon completion, the 495-unit building will house 108 studios, 97 one-bedroom units, 262 two-bedroom residences and 28 three-bedroom apartments. Amenities include a rooftop pool, fitness center with a spa, coworking space and conference rooms, multiple resident lounges, an indoor game room, pet spa, indoor climbing wall and pickleball courts. Henry Bodek of Galaxy Capital arranged the loan on behalf of the owner, The Jay Group, which will use the proceeds to complete construction and lease the property to stabilization.
PHILADELPHIA — Delaware-based investment firm Capano Residential has purchased Rittenhouse Row Apartments, an 80-unit apartment building in downtown Philadelphia, for $23.7 million, with plans to implement a renovation. The 13-story building at 1601 Sansom St., which was originally constructed in 1910 and converted to residential use in the 1990s, was 94 percent occupied at the time of sale. Capano plans to demolish the entire floor to construct four additional apartments, as well as to renovate the leasing office, relocate and enhance the existing fitness center and create a new tenant amenity space.
JERSEY CITY, N.J. — Marcus & Millichap has brokered the $6.2 million sale of a 19-unit apartment building in Jersey City. The four-story building at 358–362 Grove St. also includes three retail spaces. Devin Perez, Alan Cafiero and Dean Matuszewic of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.