REBusinessOnline

Google to Acquire St. John’s Terminal Office Redevelopment in Manhattan for $2.1B

NEW YORK CITY — Google has announced plans to acquire St. John’s Terminal, a 1.3 million-square-foot office redevelopment underway in Manhattan that will anchor the search engine giant’s Hudson Square campus. Google (NASDAQ: GOOGL) intends to purchase the development site at 550 Washington St., which the company signed a lease agreement for in 2018, for approximately $2.1 billion.The company is exercising its purchase agreement with the landlord and developer, an ownership group …

Cushman & Wakefield Brokers Sale of Two New Jersey Industrial Buildings Totaling 204,000 SF

BRIDGEWATER, N.J. — Cushman & Wakefield has brokered the sale of two industrial buildings totaling 204,000 square feet that are located in the Northern New Jersey community of Bridgewater. Both buildings feature cross-dock configurations and clear heights of 23 feet and were fully leased at the time of sale. A Cushman & Wakefield team of Gary Gabriel, David Bernhaut, Kyle Schmidt and Seth Zuidema represented the seller, Camber Real Estate Partners, and procured the buyer, High Street …

Floor & Décor to Open 70,000 SF Store in Waltham, Massachusetts on Sept. 23

WALTHAM, MASS. — Atlanta-based home improvement retailer Floor & Décor will open a 70,000-square-foot store at 80 Second Ave. in the western Boston suburb of Waltham on Thursday, Sept. 23. The store, which will be the retailer’s third location in Massachusetts, will include warehouse space and a design center. Floor & Décor has hired about 50 full- and part-time associates to work at the

Colliers Negotiates 63,347 SF Industrial Lease in Pennsauken, New Jersey

PENNSAUKEN, N.J. — Colliers International has negotiated a 63,347-square-foot industrial lease at 6901 N. Crescent Blvd. in Pennsauken, located in Southern New Jersey. Ian Richman and Marc Isdaner of Colliers represented the landlord, Velocity Venture Partners, in the transaction. Scott Mertz of NAI Mertz represented the tenant, TopPop, a provider of packaging for frozen alcoholic beverages. TopPop expects its new facility to be operational by

Cronheim Mortgage Arranges $9.6M Acquisition Loan for Southern New Jersey Shopping Center

VINELAND, N.J. — Cronheim Mortgage has arranged a $9.6 million acquisition loan for Maintree Shopping Center, a 140,000-square-foot grocery-anchored retail property located in the Southern New Jersey city of Vineland. Andrew Stewart and David Poncia of Cronheim Mortgage arranged the fixed-rate loan, which carried a five-year term and a 25-year amortization schedule, on behalf of the borrower, Aspen Real Estate. The property was 80 percent leased at the time of the loan closing. The direct …

Newmark Brokers $180M Sale of Cambridge Highlands Office, R&D Campus in Cambridge

CAMBRIDGE, MASS. — Newmark has brokered the $180 million sale of Cambridge Highlands, a 228,592-square-foot office and R&D campus located on a 9.7-acre site in the greater Boston area. The four-building campus serves as the headquarters of Raytheon BBN Technologies, a division of global aerospace and defense giant Raytheon. Robert Griffin, Edward Maher, Matthew Pullen, Michael Byrne, Samantha Hallowell and Thomas Greeley of Newmark represented the seller, New York-based Clarion Partners, …

Leggat McCall, Granite Underway on 475,000 SF Redevelopment Project Near Boston

EAST CAMBRIDGE, MASS. — A partnership between Leggat McCall Properties and Granite Properties is underway on the redevelopment of a former courthouse building located at 40 Thorndike St. in East Cambridge. The redevelopment will add 48 affordable housing apartments, as well as office and retail space and a childcare facility. Elkus Manfredi Architects is designing the project, and John Moriarty & Associates is serving as the general contractor. JLL arranged construction financing through …

EverWest, Woodmont Buy New Jersey Office Building, Plan Industrial Redevelopment

SOMERSET, N.J. — EverWest Real Estate Investors and Woodmont Properties have acquired an office building and adjacent development site in the Northern New Jersey community of Somerset with plans to redevelop the building and site into a 426,000-square-foot industrial complex. The partnership acquired the 351,782-square-foot building and seven-acre land parcel for $42.7 million. The new industrial complex will consist of two buildings spanning 294,000 and 132,000 square feet. Completion of the …

Partnership Completes Initial Phases of Village at Park River Mixed-Use Project in Hartford

HARTFORD, CONN. — A partnership between Pennrose, The Cloud Co. LLC, JDA Development and The Housing Authority of the City of Hartford has completed Phases I and II of Village at Park River, a mixed-use project in Hartford. The project is a redevelopment of a former Westbrook Village public housing site. Upon full completion, the development will consist of more than 400 units of mixed-income housing, 100,000 square feet of combined office and retail space, bike paths, a park, gardens and a …

Atlantic Capital Partners Brokers Sale of 122,876 SF Wegmans Plaza in Niagara, New York

NIAGARA, N.Y. — Boston-based Atlantic Capital Partners has brokered the sale of Wegmans Plaza, a 122,876-square-foot shopping center in the Upstate New York community of Niagara. Regional grocer Wegmans anchors the property, which was 80 percent leased at the time of sale. Justin Smith, Chris Peterson, Shannon Older, Sam Koonce and Molly Lynch of Atlantic Capital Partners represented both unnamed parties in the

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