NEW YORK CITY — The grand opening has been held for a new Food Cellars supermarket at 4705 Center Blvd. in the Long Island City neighborhood of Queens, New York City. The grocer occupies 22,000 square feet on the ground floor of a rental apartment building owned by Rockrose Development Corp. The event marks the first supermarket to open in Long Island City.
JERSEY CITY, N.J. — Ridgewood, N.J.-based Poskanzer Skott Architects, in partnership with Toronto-based Page + Steel Architects, has completed the design for Aquablu Towers, a 33-story apartment tower located at 110 River Dr. in Jersey City. Totaling 470,505 square feet, the project will contain 360 rental units in a mix studio, one-, two- and three-bedroom units. Completion of the project is expected in early 2009. The LeFrak Organization is developing the project.
BEDFORD, MASS. — Cushman & Wakefield of Massachusetts (C&W) has brokered the sale of Heritage at Bedford Springs, a 164-unit, Class A apartment community located in Bedford. Situated on 13 acres on the Middlesex Turnpike, the property contains six three- and four-story apartment buildings, as well as a two-story clubhouse. The unit mix contains one-, two- and three-bedroom apartment units, as well as one- and two-bedroom loft units. The residences average 1,092 square feet. Community amenities include an outdoor swimming pool with a waterfall, sundeck and barbecue area; a fitness center; a clubroom with a fireside lounge; an indoor café; a basketball court; and a media and business center. Robert Griffin, Jr., Simon Butler and Biria St. John of C&W represented the seller, Heritage Middlesex Turnpike LLC, and procured the buyer, a client of INVESCO Real Estate. The acquisition price was not disclosed.
HAMILTON, N.J. — New Jersey-based the Orbach Group has acquired Miry Run Apartments, a 144-unit multifamily community located in Hamilton, for $11.5 million. The property contains nine buildings with a mix of one- and two-bedroom units. Rents range from $875 to $1,100, and the community was fully occupied at the time of closing. The seller was not disclosed.
HAMILTON, N.J. — Gebroe-Hammer Associates has negotiated the sale of White Horse Gardens, a 48-unit, mid-rise apartment community located at 60-66 White Horse Pike in Hamilton, for $3.6 million. The property comprises three three-story buildings with 12 one-bedroom units and 36 two-bedroom units. It was 95 percent occupied at the time of closing. Steven Follman, Elliot Schechter and Joel Schwartz of Gebroe-Hammer represented the seller and procured the buyer. Both parties were undisclosed.
LOWER MERION, PA. — The state of Pennsylvania has awarded $6 million in grant funding to Lower Merion Township to assist in the development of the Ardmore Station mixed-use redevelopment project. The township is working with Dranoff Properties to master plan the redevelopment and revitalization of the Ardmore Transit Center and central business district. Initial plans for the $180 million, transit-oriented development call for a new train station, 335 residences, 30,000 square feet of retail and restaurant space, 8,500 square feet of office space, and approximately 750 parking spaces. The project is expected to take 5 years to complete.
ALLENTOWN, PA. — Meridian Capital Group has secured a $13 million loan for Village West, a 133,611-square-foot shopping center located in Allentown. The property is occupied by a tenant mix that includes Giant Supermarket, CVS/pharmacy, Outback Steakhouse, GNC and Wachovia Bank. Seth Grossman of Meridian’s New York office originated the financing, which consists of a first lien mortgage with interest-only payments for the full term of the loan. The borrower and lender were not disclosed.
JEFFERSON, N.J. — Woodbridge, N.J.-based The Kislak Company has arranged the sale of 29 Brady Boulevard, a 12-unit, garden-style apartment community located in Jefferson, for $1.27 million. Recently renovated, the property was fully occupied at the time of closing. Joseph Keenan of Kislak represented the seller, JC Property Management, and Don Baxter, also of Kislak, represented the undisclosed buyer. The community traded at a price of more than $100,000 per unit.
PHILADELPHIA — Iron Stone Real Estate has leased 36,500 square feet of space at the Falls Center mixed-use development to The Visiting Nurse Association of Greater Philadelphia (VNA). The VNA, which is scheduled to take occupancy in spring 2009, will use 29,000 square feet as its administrative headquarters and the remaining 7,500 square feet as a 14-bed hospice. Anthony Falcone of M.S. Fox Realty Group represented Iron Stone. Wayne Fisher and Steve Gendler of Grubb & Ellis represented the tenant. Falls Center, which is being developed by Iron Stone Real Estate Fund I LP, is a 15-acre, 700,000-square-foot redevelopment of the former Women’s Medical College of Pennsylvania. Upon completion, it will contain 250,000 square feet of commercial, retail and office space; 300,000 square feet of apartments; and a 120,000-square-foot senior living facility.
ENGLEWOOD, N.J. — Poskanzer Scott Architects has completed the architectural and interior design work for an 8,000-square-foot oncology center for Englewood Hospital and Medical Center in Englewood. The new center is located on the first floor of the Russell and Angelica Berrie Center for Humanistic Care. It includes a reception area, waiting room, doctor’s offices, a work area, nurse stations and laboratory facilities. The oncology center is the first phase of two new facilities Poskanzer Scott is designing for the hospital.