NORRISTOWN, PA. — Gene McHale, Mike Flynn, Steve Compton and Taylor Young of Beacon Commercial Real Estate have brokered the sale of a flex building in Norristown. Located at 2490 Armistead Blvd. in the Valley Forge Business Campus, the fully leased facility totals 24,000 square feet. Beacon represented the buyer, RWR Properties, and the seller, The Buccini/Pollin Group, in the transaction. The sale price was undisclosed.
BRANCHBURG, N.J. — Rockbridge Capital has closed a $17.3 million first mortgage investment for the 139-room Hotel Sierra in Branchburg. LodgeWorks, the owner, plans to upgrade the former Sierra Suites to a Hotel Sierra, an upscale hotel concept. The hotel is located near I-287 and I-78.
BRANCHBURG, N.J. — Rockbridge Capital has closed a $17.3 million first mortgage investment for the 139-room Hotel Sierra in Branchburg. LodgeWorks, the owner, plans to upgrade the former Sierra Suites to a Hotel Sierra, an upscale hotel concept. The hotel is located near I-287 and I-78.
CHESTER, PA. — The Buccini/Pollin Group is set to construct a $500 million mixed-use development along the Chester waterfront. The project will include 180 townhomes, 225 apartment units, 435,000 square feet of office space, a 200,000-square-foot convention center, 1,350-space parking structure and 42,000 square feet of retail space, which includes an 8,000-square-foot restaurant. The project will also include a 20,000-seat stadium and entertainment complex. Construction is slated to begin this fall and will be completed in phases over the next 5 years.
CHESTER, PA. — The Buccini/Pollin Group is set to construct a $500 million mixed-use development along the Chester waterfront. The project will include 180 townhomes, 225 apartment units, 435,000 square feet of office space, a 200,000-square-foot convention center, 1,350-space parking structure and 42,000 square feet of retail space, which includes an 8,000-square-foot restaurant. The project will also include a 20,000-seat stadium and entertainment complex. Construction is slated to begin this fall and will be completed in phases over the next 5 years.
WHITEHALL, PA. — Marcus & Millichap has completed the $13.21 million sale of a 14.28-acre, 20-year absolute triple-net ground lease in Whitehall. The parcel, which is located at 2650 MacArthur Rd., will house a 166,609-square-foot Lowe’s Home Improvement store. Brand Nathanson and Jordan Muchnick of Marcus & Millichap represented the seller and the buyer in the negotiations.
WHITEHALL, PA. — Marcus & Millichap has completed the $13.21 million sale of a 14.28-acre, 20-year absolute triple-net ground lease in Whitehall. The parcel, which is located at 2650 MacArthur Rd., will house a 166,609-square-foot Lowe’s Home Improvement store. Brand Nathanson and Jordan Muchnick of Marcus & Millichap represented the seller and the buyer in the negotiations.
RIDGEFIELD PARK, N.J. — Hartz Mountain has begun construction on the 140-room Hilton Garden Inn at Overpeck Centre in Ridgefield Park. The five-story hotel, located at 70 Challenger Rd., will feature a business center, a workout facility, and a restaurant and bar. Construction is set to be complete fall 2008. Overpeck Centre is a mixed-use development set on 60 acres along the waterfront. It contains more than 1 million square feet of office space and a 12-screen theater.
RIDGEFIELD PARK, N.J. — Hartz Mountain has begun construction on the 140-room Hilton Garden Inn at Overpeck Centre in Ridgefield Park. The five-story hotel, located at 70 Challenger Rd., will feature a business center, a workout facility, and a restaurant and bar. Construction is set to be complete fall 2008. Overpeck Centre is a mixed-use development set on 60 acres along the waterfront. It contains more than 1 million square feet of office space and a 12-screen theater.
HIGHLAND PARK, N.J. — Ken Uranowitz and Joseph Brecher of Gebroe-Hammer Associates have completed the $8.4 million sale of Parktowne House, an 84-unit apartment complex in Highland Park. The two-building, mid-rise facility is located at 11-19 Raritan Ave. on Route 27. The five- and six-story buildings contain 51 one-bedroom units, 12 two-bedroom units and 21 studio apartments. The facility was fully occupied at the time of the sale. Gebroe-Hammer represented the undisclosed seller and procured the buyer, an undisclosed Manhattan-based real estate investor.