HEMPSTEAD, N.Y. — Marcus & Millichap has brokered the $7.6 million sale of a 3,869-square-foot retail property in the Long Island community of Hempstead. The building is net leased to TD Bank and is located within Rockville Centre, an incorporated village. Scott Plasky, Michael Kook and Billy Stephan IV of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction. Christopher Marks and Stephen Filippo of Marcus & Millichap Capital Corp. arranged acquisition financing for the deal.
CONSHOHOCKEN, PA. — New York-based investment firm Midland Properties has purchased a 74,703-square-foot industrial property in Conshohocken, a northern suburb of Philadelphia. The sales price was $2.9 million. The site at 1304 Conshohocken Road spans 5.6 acres and houses multiple buildings and outdoor storage space. Steve Marzullo, Adam Silverman and Michael Roden of CBRE represented the seller, Pennsylvania-based Emanuel Properties, in the negotiations.
WORCESTER, MASS. — The University of Massachusetts (UMass) has completed a $350 million academic project at Chan Medical School at the university’s Worcester campus. The building encompasses 350,000 square feet of lab, educational, research and administrative space across nine floors that will be used to support the work of all three graduate schools on campus. Shawmut Design & Construction provided general contracting and construction management services for the project. ARC/Architectural Resources Cambridge designed the facility in collaboration with ZGF Architects.
NEWPORT, N.J. — The LeFrak Organization has begun leasing Bisby, a 34-story apartment tower in Newport, located across the Hudson River from Lower Manhattan. Designed by Minno & Wasko Architects & Planners with interiors by Woods Bagot, Bisby houses 385 units in studio, one-, two-, three- and four-bedroom configurations. Amenities include a coworking center, golf simulator, dedicated content studio and a dog spa, as well as a 33,000-square-foot landscaped rooftop terrace with a pickleball court, dog run and an outdoor kitchen. Rents start at $3,445 per month for a studio apartment.
PLYMOUTH, MASS. — A partnership between New York-based retail investment firm DLC and Temerity Strategic Partners has acquired Colony Place, a 400,000-square-foot shopping center located south of Boston in Plymouth, for $86 million. Phase I of Colony Place was constructed between 2005 and 2008, and Phase II was completed in 2016. Colony Place was 94 percent leased at the time of sale. Tenants include Aldi, Best Buy, Dick’s Sporting Goods, Burlington, Bath & Body Works, Michaels, Five Below, Gamestop and Men’s Wearhouse. The seller was not disclosed.
NEW YORK CITY — Cushman & Wakefield has arranged a $69.1 million loan for the refinancing of a 618,414-square-foot industrial property in the Jamaica neighborhood of Queens. The property consists of two interconnected five- and six-story buildings that were originally constructed in 1923 and were previously home to several manufacturing and distribution tenants, including the Edward Langer Printer Co. Building features include 14 loading docks and 127 parking spaces. Gideon Gil and Dale Braverman of Cushman & Wakefield placed the debt through ACORE Capital on behalf of the borrower, KABR Group.
BELLEFONT, PA. — Marcus & Millichap has brokered the $10.1 million sale of a retail building in Bellefont, about 120 miles northwest of Harrisburg, that is net leased to grocer Giant Food. The building was constructed in 2022 and is part of Paradise Shopping Center. Dean Zang, Brad Nathanson and David Crotts of Marcus & Millichap represented the seller, a Pennsylvania-based developer, in the transaction. JRW Realty represented the buyer, an affiliate of Exchange Right.
NEW YORK CITY — A partnership between Witkoff and an affiliate of Apollo Global Management has topped out The Brook, a 52-story apartment building in downtown Brooklyn. The Brook will house 591 apartments and 21,000 square feet of retail space. Thirty percent of units will be set aside as affordable housing. Income restrictions for these units were not disclosed. Amenities will include a pool, basketball court, lounge, fitness center, library, communal terraces, playground, dog run and coworking spaces. Move-ins are slated to begin in the second half of 2025. Beyer Blinder Belle designed the community, and Bonetti/Kozerski Architecture provided interior design services. Suffolk Construction is the general contractor.
ROCKVILLE, MD. — Everhome Suites, which is part of the family of brands of Maryland-based owner-operator Choice Hotels International Inc., will open three new hotels totaling 334 rooms in the Northeast. The properties include a 106-room hotel in Portsmouth, N.H.; a 114-room hotel in Somerset, N.J.; and a 114-room hotel in Rochester, N.Y. All rooms will feature fully equipped kitchens. Construction of the hotels is underway, and the openings are scheduled for 2025.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $11.7 million sale of a mixed-use development site in The Bronx. The site at 1931 Lafayette Ave. totals 300,000 buildable square feet and is zoned for both affordable housing and up to 18,000 square feet of retail space. Victor Sozio, Shimon Shkury, Jason Gold and Daniel Mahfar of Ariel represented the undisclosed sellers in the transaction. The buyer was also not disclosed.