WYOMISSING, PA. — Ground has been broken on Wyomissing Square, a 13.3-acre mixed-use community in Wyomissing. The development will include Wyomissing Square Apartments, a four-story, 248-unit complex that is an adaptive re-use of a former industrial facility. In addition, the smart growth project will also feature 32,000 square feet of retail and restaurant space and a 135-room Marriott Courtyard hotel. Bozzuto Development Co. is developing the project in partnership with New Boston’s Urban Strategy America Fund, The Brickstone Companies, and Rock Creek Hospitality. Completion on the development is slated for early 2010.
Northeast
PALMYRA, PA. — A joint venture comprised of AMC Delancey Group and Heritage Senior Living has completed construction of Traditions of Hershey, a 120-unit independent senior living community in Palmyra. Located at 100 N. Larkspur Dr., the facility features studios and one- and two-bedroom residences. Rental rates range from $1,800 to $2,700 per month. Amenities include an onsite move theater, a fitness center, a billiard room, a library and a beauty salon.
CLIFTON, N.J. — Cushman & Wakefield has completed the sale of a warehouse facility located at 174 Delawanna Ave., in Clifton. The 217,139-square-foot distribution building was purchased for an undisclosed price by New Jersey’s largest independent food service company. Amenities include 32-foot clear ceilings, cross-docked loading and fenced in parking. Stephen Elman, Stan Danzig and Noah Balanoff of Cushman & Wakefield represented the seller, The Morris Companies, in the transaction. The undisclosed buyer was represented by Brian Scheuer of Chaus Realty.
SYRACUSE, N.Y. — The Rose Hill Group of WNY LTD has arranged $1.88 million in permanent financing for a new retail store in Syracuse. Located with visibility along Route 481, the 11,598-square-foot project is fully occupied by Kinney Drugs. Thomas Grzebinski of The Rose Hill Group arranged the financing for the undisclosed borrower through a correspondent life insurance company.
A new post office is going to be located at the old Jones center on Highway 1.
NEW YORK CITY — Muss Development has acquired 64 W. 48th St., a 17-story office building in the Rockefeller Center area of Manhattan, New York City. Muss plans to reposition the 130,000-square-foot facility into a first-class boutique office building. A multi-million capital improvement plan will include a newly restored lobby, as well as new elevator cabs, windows and bathrooms. The developer purchased the property for $54.5 million from an undisclosed buyer. Mark Lauzon of Cushman & Wakefield is the exclusive leasing agent for the office space, and Jedd Nero of CB Richard Ellis is representing 17,000 square feet of retail space on the first and below grade levels.
NEW YORK CITY — Hudson Realty Capital has provided $11.07 million in financing for the Chelsea Art Museum in Manhattan, New York City. The 28,838-square-foot building, located a W. 22nd St., has been renovated into art galleries. The property also has additional air rights.
BLOOMFIELD, CONN. — The Lightstone Group has negotiated a lease with K&G Theatres for Bloomfield 8 Cinemas at the Wintonbury Mall in Bloomfield. The 28,000-square-foot theatre is set to open this spring. Other tenants at Wintonbury Mall, which is located at 865 Park Ave., include State Farm Insurance, Citi Financial and the Arthur Murray Dance Center.
NEW YORK CITY — Dmitri Gourianov of Kalmon Dolgin Affiliates has brokered the $1.25 million sale of 1030/1032 Wyckoff Ave. in the Ridgewood neighborhood of Queens, New York City. The single-story, 50,000-square-foot warehouse facility features a 2,500-square-foot land parcel, as well as drive-in doors and high ceilings. Gourianov represented the buyer, LS Sign Co., and Chou’s Realty represented the seller, 1030 Wyckoff Ave LLC, in the transaction.
NEW BRUNSWICK, N.J. — The New Brunswick Development Corp. is set to develop the 600,000-square-foot, approximately 30-story New Brunswick Cultural Center. The project will include a fully integrated performing arts center that will include renovations and improvements to the historical State Theatre, new and expanded facilities for NBCC member companies, which will include performance venues, rehearsal and educational spaces, state-of-the-art operational facilities and administrative offices. The project will also include a 20-story residential tower with 200 market-rate condominiums, a 12-story Class A office tower, 11,000 square feet of retail space, an underground parking structure and public spaces. The $275 million facility is being designed by Ehrenkrantz Eckstut & Kuhn Architects.