Monday, June 16, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Northeast

404-Wyman-St.-Waltham
DevelopmentLife SciencesMassachusettsNortheastOffice

Hobbs Brook Underway on Renovation of 384,841 SF Office, Life Sciences Facility in Waltham, Massachusetts

by Taylor Williams

WALTHAM, MASS. — Locally based owner-operator Hobbs Brook Real Estate is underway on the renovation of a 384,841-square-foot office and life sciences facility located at 404 Wyman St. in the western Boston suburb of Waltham. The building is part of an 11-building campus that is home to tenants such as Dassault Systems, FM Global, Commonwealth Financial Network and ZoomInfo. Renovations will include the addition of a new fitness center, a remodeling of lobby and upgrading of the conference center and café. In addition, Hobbs Brook will develop expansive outdoor spaces with seating areas, fire pits and new landscaping. Completion is slated for early next year.

Continue Reading
FacebookTwitterLinkedinEmail
LoansNew JerseyNortheastRetail

Cronheim Mortgage Arranges $31M in Financing of Southern New Jersey Shopping Center

by Taylor Williams

BURLINGTON, N.J. — New Jersey-based financial intermediary Cronheim Mortgage has arranged $31 million in financing of a 358,000-square-foot shopping center in the Southern New Jersey community of Burlington. Walmart Supercenter anchors the center, which was 99 percent leased at the time of the loan closing. Other tenants include Planet Fitness, Ross Dress for Less, Marshalls, Five Below, AutoZone and McDonald’s. Brandon Szwalbenest, Dev Morris and Andrew Stewart of Cronheim arranged the 10-year loan through an undisclosed life insurance company on behalf of the owner, National Realty & Development Corp.

Continue Reading
FacebookTwitterLinkedinEmail
Senior-Living-Community_King-of-Prussia
AcquisitionsMultifamilyNortheastPennsylvaniaSeniors Housing

Blueprint Negotiates Sale of 190-Unit Senior Living Community in Metro Philadelphia

by Taylor Williams

KING OF PRUSSIA, PA. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 190-unit seniors housing community located in King of Prussia, roughly 20 miles northwest of Philadelphia. The unnamed property, which according to Blueprint was not stabilized at the time of sale, opened in 2021 and offers assisted living and memory care services. Alex Florea, Kevin Lukehart, Steve Thomes and Kory Buzin of Blueprint represented the seller, an undisclosed private equity investor, in the transaction. The buyer was also not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityNew YorkNortheastOffice

Skarzynski Marick & Black Signs 28,307 SF Office Lease Renewal in Lower Manhattan

by Taylor Williams

NEW YORK CITY — Skarzynski Marick & Black has signed a five-year, 28,307-square-foot office lease renewal in Lower Manhattan. The insurance law firm will remain the sole occupant of the 32nd floor at One Battery Park Plaza, a 35-story, 870,000-square-foot building that was originally constructed in 1971. Andrew Peretz of Newmark represented the tenant in the lease negotiations. Thomas Keating and Kevin Daly represented the landlord, Rudin, on an internal basis.

Continue Reading
FacebookTwitterLinkedinEmail
One-Oxford-Centre-Pittsburgh
AcquisitionsNortheast

Rugby Realty Buys 1 MSF Office Tower in Downtown Pittsburgh

by Taylor Williams

PITTSBURGH — A group of investors led by local investment firm Rugby Realty has purchased One Oxford Centre, a 45-story office tower located at 301 Grant St. in downtown Pittsburgh. The 1 million-square-foot building occupies two city blocks and was 65 percent leased at the time of sale to tenants such as PwC and law firms Clark Hill and Pietragallo Gordon Alfano Bosick & Raspanti. Amenities include a full-service health/business club and a multi-level, 850-space parking garage. John Pelusi, Claudia Steeb, Nick Unkovic and Zach Barone of JLL arranged a three-year bridge loan of an undisclosed amount for the acquisition of the property through Dollar Bank.

Continue Reading
FacebookTwitterLinkedinEmail
LoansMultifamilyNorthmarqPennsylvania

Northmarq Provides $19.2M Agency Loan for Refinancing of Apartment Complex in Hershey, Pennsylvania

by Taylor Williams

HERSHEY, PA. — Northmarq has provided a $19.2 million Fannie Mae loan for the refinancing of Rosedale Apartments, a 160-unit apartment complex in Hershey, located just outside of Harrisburg. Built on 30 acres in 1972, Rosedale offers one- and two-bedroom units and amenities such as a pool, fitness center, dog park, tennis court and common green spaces. John Banas and Kris Wood of Northmarq originated the 10-year loan on behalf of the borrower, locally based investment firm Boyd Wilson.

Continue Reading
FacebookTwitterLinkedinEmail
HospitalityLoansNew YorkNortheast

Mag Mile Capital Arranges $14.5M CMBS Loan for Marriott-Branded Hotel in Rochester

by Taylor Williams

ROCHESTER, N.Y. — Mag Mile Capital, a Chicago-based commercial mortgage banking firm, has arranged a $14.5 million CMBS loan for a 210-room, Marriott-branded hotel in Rochester. The hotel was built in 1979 and is located near Rochester International Airport. The five-year, nonrecourse loan carried a 65 percent loan-to-value ratio and a 30-year amortization schedule with two years of interest-only payments. Prabhat Jayara of Mag Mile Capital originated the loan through Morgan Stanley on behalf of the borrower, Sai Global Investments.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMultifamilyNew YorkNortheast

Haussmann Development Begins Leasing 76-Unit Apartment Complex in Brooklyn

by Taylor Williams

NEW YORK CITY — Haussmann Development has begun leasing The Eve, a 76-unit apartment complex in the Crown Heights area of Brooklyn. The Eve features studio, one- and two-bedroom units, 23 of which are reserved as affordable housing, and select residences offer private balconies. Amenities include a rooftop deck with grilling stations, fitness center, children’s play area, clubroom and a pet washing station. Rents start at about $3,100 per month for a studio apartment. Haussmann has also received a $40.7 million loan from ACRES Capital for the refinancing of the property’s construction debt. Alan Blank, Zach Kraft and Gideon Gil of Cushman & Wakefield arranged that loan.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityNew YorkNortheastOffice

Ogletree Deakins Signs 18,000 SF Office Lease at Rockefeller Center in Manhattan

by Taylor Williams

NEW YORK CITY — Ogletree Deakins has signed an 18,000-square-foot office lease at Rockefeller Center in Manhattan. The law firm is relocating and expanding its headquarters from 599 Lexington Ave. to the 24th floor of the 31-story building at 1270 Avenue of the Americas. Michael Berg, Sofia Bruno, Elizabeth Cooper and Brendan Dwyer of JLL represented Ogletree Deakins in the lease negotiations. Blythe Kinsler and Kate Walker internally represented the landlord, Tishman Speyer.

Continue Reading
FacebookTwitterLinkedinEmail
Avalon-Wesmont-Station-Wood-Ridge-New-Jersey
AcquisitionsLoansMultifamilyNew JerseyNortheastTop Stories

JLL Brokers $161.5M Sale of Northern New Jersey Apartment Community

by Taylor Williams

WOOD-RIDGE, N.J. — JLL has brokered the $161.5 million sale of Avalon at Wesmont Station, a 406-unit apartment community located at 100 Rosie Square in Wood-Ridge, about 15 miles west of Manhattan. Avalon at Wesmont Station was built in 2012-2013 and offers one-, two- and three-bedroom units with an average size of 959 square feet. Amenities include a pool, outdoor grilling and dining stations, resident clubroom with workstations and a fitness center. The property also houses 18,000 square feet of ground-floor retail space that is fully leased. Jose Cruz, Steve Simonelli, Michael Oliver, Elizabeth DeVesty and Austin Pierce of JLL represented the seller, Virginia-based REIT AvalonBay Communities Inc. (NYSE: AVB), in the transaction. The buyer was New York-based Cammeby’s International Group. Ryan Koehler of NewPoint Real Estate Capital originated a $112 million Freddie Mac acquisition loan, which carried a 10-year term and six years of interest-only payments, for the deal. “The sale of Avalon at Wesmont Station demonstrates the continued investor appetite for well-located, institutional-quality multi-housing assets in strong suburban markets near New York City,” says Cruz. “This property’s strategic location, coupled with its value-add potential through unit renovations, made it an attractive investment opportunity in today’s market.” The apartment …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts