REBusinessOnline

Denholtz Properties Breaks Ground on 24,000 SF Industrial Project in Tinton Falls, New Jersey

TINTON FALLS, N.J. — Locally based developer Denholtz Properties has broken ground on a 24,000-square-foot industrial project in Tinton Falls, located in Monmouth County. The property, which is part of a two-building, seven-acre development, will offer seven leasable spaces ranging in size from 2,400 to 4,440 square feet. Completion is slated for the end of the year. Denholtz recently completed construction of the other 26,400-square-foot building that is now 82 percent

Colliers Brokers Sale of 156-Unit Multifamily Portfolio in Northern New Jersey

HACKENSACK AND LITTLE FERRY, N.J. — Colliers International has brokered the sale of the Lenox Multifamily Portfolio, a collection of five apartment buildings totaling 156 units in Northern New Jersey. The properties, which are located in Hackensack and Little Ferry, feature a unit mix of 16 studios, 133 one-bedroom apartments and seven two-bedroom residences. Jacklene Chesler, Matthew Brown and Patrick Norris of Colliers brokered marketed the properties on behalf of the undisclosed seller. …

Velocity Venture Partners Buys Three Industrial Flex Buildings Totaling 69,700 SF Near Philadelphia

HATFIELD AND KING OF PRUSSIA, PA. — Locally based investment firm Velocity Venture Partners has purchased three industrial flex buildings totaling 69,700 square feet in the Philadelphia area. The properties include a 27,500-square-footbuilding at 1111 North Broad St. in Hatfield; a 15,200-square-foot asset at 1910 North Penn Road in Hatfield; and a 27,000-square-foot industrial facility at 451 Yerkes Road in King of Prussia. Justin Bell of Newmark brokered the deals. The seller(s) was not …

Gebroe-Hammer Arranges $14.9M Sale of 113-Unit Multifamily Portfolio in East Orange, New Jersey

EAST ORANGE, N.J. — Gebroe-Hammer Associates has arranged the $14.9 million sale of a three-property, 113-unit multifamily portfolio in East Orange, a suburb of Newark. The properties are all located in the city’s Brick Church area. David Oropeza of Gebroe-Hammer represented the seller, a partnership between Nova EO Portfolio I LLC and The Capital Foresight LP, in the transaction. Oropeza also procured the buyer, an undisclosed private investment

Nauset Construction Breaks Ground on 50-Unit Multifamily Project in Boston

BOSTON — Nauset Construction has broken ground on 1180 Boylston Street, a 50-unit multifamily project located at the site of a former gas station in the Brookline area of Boston. Designed by CBT Architects and developed by Chestnut Hill Investments LLC, the six-story building will also house 6,500 square feet of retail space. The property will feature a unit mix of 15 one-bedrooms, 33 two-bedrooms and two three-bedrooms. All units in the building are age-restricted; one resident in each unit …

REI to Open Small-Format Store at Cambridge Crossing in Massachusetts

CAMBRIDGE, MASS. — Outdoor apparel and equipment retailer REI will open an 8,000-square-foot store at Cambridge Crossing, a 43-acre mixed-use development located at the junction of Boston, Cambridge and Somerville. The opening of the store, which is scheduled for this fall, represents the launch of the retailer’s new small-format prototype and will be located within a newly constructed office and retail building. DivcoWest is the master developer of Cambridge

Greystone Funds $49.5M Agency Acquisition Loan for Multifamily Asset in Pine Hill, New Jersey

PINE HILL, N.J. — Greystone has funded a $49.5 million Freddie Mac acquisition loan for Chalet Gardens, a 484-unit multifamily property in Pine Hill, located in the southern part of the state. Built in 1973, the property offers one- and two-bedroom units and amenities such as a pool, fitness center, picnic area and a playground. Dan Sacks of Greystone originated the loan, which carries a 10-year term, a 30-year amortization schedule and interest-only payments for the first five years. The …

Grandbridge Provides $49.2M Loan for Refinancing of Seniors Housing Property in New York

ORANGEBURG, N.Y. — Grandbridge Real Estate Capital’s Atlanta-based seniors housing and healthcare finance team has provided a $49.2 million Fannie Mae loan for the refinancing of Brightview Lake Tappan. The 143-unit seniors housing community is located in Orangeburg, approximately 15 miles north of New York City. Specific loan terms and the name of the borrower were not

JLL Brokers $31.7M Sale of Multifamily Development Site in Queens

NEW YORK CITY — JLL has brokered the $31.7 million sale of a 57,035-square-foot multifamily development site in the Forest Hills neighborhood of Queens. Stephen Palmese, Brendan Maddigan, Michael Mazzara, Winfield Clifford, Ethan Stanton and Patrick Madigan of JLL represented the seller, Jasper Venture Group, in the deal. The buyer, a partnership between Top Rock Holdings, RJ Capital Group and SYU Properties, plans to develop a 235,679-square-foot market-rate project and an 82,559-square-foot …

Mindspace Opens 42,000 SF Flexible Workspace in Philadelphia

PHILADELPHIA — Mindspace, a provider of flexible workspace solutions, has opened a 42,000-square-foot space at the Wanamaker Building, a historic property in Philadelphia that was built in 1911 as one of America’s first department stores. Rubenstein Partners LP owns the building in partnership with Amerimar Enterprises. With this location, Mindspace now operates 31 spaces across 16 cities and seven

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