NEW YORK CITY — Charles Schwab & Co. (NYSE: SCHW) has signed a 23,000-square-foot office lease renewal in Midtown Manhattan. The financial services and advisory giant has been a tenant at the 45-story, 1.1 million-square-foot building at 1133 Avenue of the Americas since 2014, and this deal keeps the company on the 37th floor for another 11 years. Schwab was self-represented in the lease negotiations. Tom Bow, Rocco Romeo and Nora Caliban represented the landlord, The Durst Organization, on an internal basis.
DUNKIRK, N.Y. — Wells Enterprises, an Iowa-based ice cream manufacturer whose brands include Blue Bunny, Halo Top and Blue Ribbon Classics, has unveiled plans for a $425 million expansion of its plant in Dunkirk, located along Lake Erie in upstate New York. Wells Enterprises anticipates that the initiative, which was originally budgeted for $250 million in capital investment, will bring about 270 new jobs to the local economy. In addition, the project is expected to more than quadruple the facility’s current production output and lay the groundwork for future growth and innovation. Construction is underway, and products should begin rolling off the new lines by August 2025.
EVERETT, MASS. — South Carolina-based developer Greystar has broken ground on a 416-unit multifamily project in the eastern Boston suburb of Everett. The project represents the second phase of a larger development at 1690 Revere Beach Parkway, the first phase of which totals 325 units and is known as Jade. Phase II will be known as Juniper and is slated for a mid-2026 delivery. CUBE3 Architects designed both properties, which between them will include 850 parking spaces, 10,500 square feet of retail space and 22,800 square feet of amenity space.
WHIPPANY, N.J. — DIGroup Architecture and Jewish Community Housing Corp. (JCHC) have completed a renovation and expansion project at Lester Senior Living in Whippany, approximately 30 miles west of Manhattan. The facility provides independent living and assisted living services. The project added about 20,000 square feet of new amenities. The project team also worked to create more interactive spaces for residents by enhancing the café/reading room and refurbishing the dining room. A new theater was added to the second level, and the atrium was also renovated.
NEW YORK CITY — Eastern Union has arranged a $12 million loan for the refinancing of a 35,210-square-foot industrial building in the Williamsburg area of Brooklyn. The single-story building was originally constructed in 1931 and includes warehouse and office space as well as onsite parking. David Brody of Eastern Union arranged the loan, which was structured with a five-year term, a 65 percent loan-to-value ratio and a fixed interest rate of 6.54 percent. The borrower and direct lender were not disclosed.
NEW FAIRFIELD, CONN. — CBRE has brokered the $6.2 million sale of Heritage Plaza, a 26,403-square-foot shopping center in New Fairfield, located on the New York-Connecticut border. The center was fully leased at the time of sale to tenants such as First Step Pre-School and New Fairfield Animal Hospital. Karly Iacono, Dean Rosenzweig and Christopher Betting of CBRE represented the seller in the transaction. Mark Krantz and Derrick Dougherty of Marcus & Millichap represented the buyer. Both parties requested anonymity.
BUDD LAKE, N.J. — New York City-based Quinlan Development Group has completed a 761-unit self-storage facility in the Northern New Jersey community of Budd Lake. The facility spans 95,200 net rentable square feet across four buildings and offers a mix of climate- and non-climate-controlled units. The project also features direct unit lighting and hydraulic elevators throughout. Ware Malcomb designed the project, and Gerard Construction served as the general contractor. ExtraSpace Storage will operate the facility.
MOONACHIE, N.J. — Dora’s Naturals, a distributor of perishable food-and-beverage products, has purchased a 105,000-square-foot industrial property in the Northern New Jersey community of Moonachie for $31 million. The building at 210 W. Commercial Ave. was originally constructed in 1966. Kevin Dudley, Chad Hillyer, Nicholas Klacik, Elli Klapper, Kate Granahan and Brian Fiumara of CBRE represented Dora’s Naturals in the transaction. The seller was Beauty Plus, a provider of wigs and hair extensions.
HARTFORD, CONN. — Locally based brokerage firm Chozick Realty has negotiated the $12.9 million sale of a portfolio of eight apartment buildings totaling 176 units in Hartford. About half the units in the buildings, which are located near the campus of Aetna Insurance in the downtown area, were recently renovated. Steve Pappas and Jordan Pinto of Chozick Realty represented the seller and procured the buyer, both of which are regional investment firms that requested anonymity, in the transaction.
WILLINGBORO, N.J. — Regional brokerage firm Legacy Realty Group Advisors has arranged the $4 million sale of Kennedy Plaza, a 58,900-square-foot shopping center in Willingboro, roughly 20 miles outside Philadelphia. An unspecified grocery store anchors the property. Jacob Baruch, Jonah Warshaw and Ari Warshaw of Legacy Realty represented the buyer in the transaction. Blaine Foreman of Metro Commercial Real Estate represented the seller. Both parties requested anonymity.