PLAINFIELD, N.J. — Construction is advancing for The Monarch, a 63-unit residential condominium project located at 400 E. Front St. in Plainfield. Residences at the project average 1,200 square feet, with prices starting at $199,000. In addition, the project will contain a street-level senior citizen and veteran’s center. The property features a courtyard garden and on-site parking, as well as convenient access to New Jersey Transit rail and bus stations. The project is being developed by Maplewood Homebuilders, a subsidiary of P&F Management Co. The completion date was not released.
AVON, CONN. — Chatham, N.J.-based Cronheim Mortgage has secured $1.2 million for a single-tenant retail property located at 336 W. Main St. in Avon. The property was constructed in 2002; it comprises a 4,500-square-foot building, a 1,050-square-foot outdoor patio and 17 parking spaces. It is currently occupied by Stonewall Kitchen, a gourmet and specialty foods retailer based out of York, Maine. Terms of the loan include a 10-year term and a 25-year amortization schedule. The lender was not disclosed.
NEW YORK CITY — Sholom & Zuckerbrot (S&Z) Realty has arranged two 15-year leases for a retail property located at 30-33 Steinway St. in the Long Island City neighborhood of Queens, New York City. Planet Fitness, a national chain of exercise facilities, will occupy 17,000 square feet encompassing the property’s entire basement and second floor, as well as a portion of the ground floor. Pure Nature, a health food store, will occupy 5,000 square feet of ground-floor space. The 25,500-square-foot property was formerly occupied by Young World Children’s Clothing, but had been repositioned as a multi-tenant property after the retailer’s departure. The property currently was 2,500 square feet of space remaining for lease. Douglas Weinstein and Marc Durst of locally based S&Z Realty represented the landlord, Jenel Management, in both transactions, as well as Pure Nature. Ray Villafana of Franchise Realty represented Planet Fitness.
NEW YORK CITY — The New York City office of NAI Global has completed a 16,229-square-foot office lease within Wall Street Plaza at 88 Pine St. in Manhattan’s Financial District. The tenant, institutional energy broker Power Merchants Group, will relocate from its previous offices on the 38th floor of 40 Wall Street. Terms of the 10-year lease include a complete build-out of the tenant’s new floor, which will provide Power Merchants Group with turnkey office space once it relocates. NAI’s Andrew Simon and Robert Kluge represented the tenant in lease negotiations. The owner of Wall Street Plaza is Orient Overseas Associates, which was represented by Frank Cento of Cushman & Wakefield.
FREEPORT, MAINE — Boston-based Berenson Associates has announced three new retailers and a new restaurant for Freeport Village Station, a 120,000-square-foot outlet retail center located in Freeport. New retailers include Coach Factory Store, Pac Sun and Sunglass Hut. Linda Bean’s Perfect Main Lobster Roll will also be opening its first restaurant at the project. Tenants already announced at Freeport Village Station include L.L. Bean Outlet, Nike Factory Store, Brooks Brothers Factory Store, Calvin, Klein, Van Heusen and IZOD. Upon completion in May, the project will feature more than 30 retailers and restaurants, as well as a 550-space parking deck. It was designed by Somerville, Mass.-based Arrowstreet. In addition, Cole Haan has announced renovations plans for its nearby location, which include a new entrance directly onto the plaza level of Freeport Village Station.
DEDHAM, MASS. — Two fashion retailers have joined the tenant roster at Legacy Place, a 675,000-square-foot, open-air lifestyle center currently under construction in Dedham. Swedish fashion retailer H&M and Brooks Brothers Country Club have signed leases for space within the center, which is scheduled to open in the summer. They will join a tenant roster that includes Whole Foods Market, L.L. Bean, Showcase Cinema de Lux, Borders, King’s Bowling & Billiards, Apple, Anthropologie and Ruth’s Chris Steakhouse, among others. Legacy Place is being developed by Chestnut Hill, Mass.-based WS Development Associates.
SHREWSBURY, MASS. — Integrated Builders has been selected to construct a 2,000-square-foot laboratory at 800 Boston Turnpike in Shrewsbury. The space will be built for Valeritas, a Parsippany, N.J.-based medical technologies company with offices in Shrewsbury. The lab will include a modular clean room. Last year, Integrated Builders completed a 20,679-square-foot project at the same facility for Valeritas. Integrated was selected by the building’s landlord, Vinco Properties, to complete the Valeritas build-out and reposition the 50,000-square-foot building.
HOBOKEN, N.J. — Construction has been completed for Garden Street Lofts, a $16.8 million residential redevelopment project located in Hoboken. The project consisted of the conversion of a former coconut processing and storage warehouse first constructed in 1919 into 30 loft-style condominiums. A seven-story, 35,054-square-foot addition was built onto the existing 42,888-square-foot building. Garden Street Lofts features one-, two- and three-bedroom units, as well as 7,500 square feet of ground-floor retail space. It is applying for LEED-Silver certification, which would make it the only LEED-certified residential building in Hoboken upon receiving the designation. The project is currently 50 percent sold. Garden Street Lofts is owned by Bijou Properties LLC. The general contractor was Del-Sano Contracting Corp. and the project architect was Sharples Holden Pasquarelli Architects.
GETTYSBURG, PA. — Hunter Realty Associates has brokered the sale of an 80-room Comfort Inn, located at 871 York Rd. in Gettysburg, for $4.7 million. The hotel features an indoor pool and a business center. The buyer, Zrii LLC, plans to complete minor renovations to the property. The seller was Supertel Hospitality.
SALISBURY, MASS. — Portsmouth, N.H.-based The Kane Company has completed the sale of a 21,000-square-foot industrial building located within Salisbury Industrial Park at 5 Fanaras Dr. in Salisbury. The buyer, ProDev Inc., had been previously headquartered in Seabrook, N.H., but was looking to expand. Anthony Triglione of The Kane Company negotiated the off-market transaction between ProDev and the seller, Salisbury Industrial Park LLC. The acquisition price was not disclosed.