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Northeast

Admirals-Row-Brooklyn
LoansMixed-UseNew YorkNortheastWalker & Dunlop

Deutsche Bank Provides $148.5M Loan for Refinancing of Brooklyn Mixed-Use Property

by Taylor Williams

NEW YORK CITY — Deutsche Bank has provided a $148.5 million bridge loan for the refinancing of Admirals Row, a 696,000-square-foot mixed-use property located within the Brooklyn Navy Yard. The eight-acre development houses a Wegmans supermarket, more than 350,000 square feet of light industrial and manufacturing space that is master-leased to the Brooklyn Navy Yard Development Corp, additional retail space, a community facility and surface and structured parking totaling over 700 spaces. Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz, Michael Diaz and William Herring of Walker & Dunlop arranged the debt on behalf of the borrower, Steiner NYC.

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Candlewood-Industrial-Park-Bay-Shore-New-York
AcquisitionsIndustrialNortheast

Cushman & Wakefield Brokers Sale of 560,719 SF Industrial Property in Bay Shore, New York

by Taylor Williams

BAY SHORE, N.Y. — Cushman & Wakefield has brokered the sale of Candlewood Industrial Park, a two-building, 560,719-square-foot development located in the Long Island community of Bay Shore. Built in 1999, the structure at 145 Candlewood Road spans 313,246 square feet and features a clear height of 40 feet. Completed in 2013, the building at 158 Candlewood Road totals 247,473 square feet and features a clear height of 38 feet. Gary Gabriel, Kyle Schmidt, Ryan Larkin and Seth Zuidema of Cushman & Wakefield represented the seller, Rockefeller Group, in the transaction, and procured the buyer, NorthBridge Partners. Cushman & Wakefield has also been retained as the leasing agent.

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LoansNew JerseyNortheastRetail

G.S. Wilcox Arranges $12M Loan for Refinancing of Southern New Jersey Shopping Center

by Taylor Williams

MOUNT HOLLY, N.J. — New Jersey-based financial intermediary G.S. Wilcox & Co. has arranged a $12 million loan for the refinancing of Fair Ground Plaza, a 178,532-square-foot shopping center located outside of Philadelphia in Southern New Jersey. The center was 90 percent leased at the time of the loan closing. Grocer Acme Markets is the anchor, and other tenants include Staples, Dollar Tree and Advance Auto Parts. David Fryer of G.S. Wilcox arranged the loan through an undisclosed life insurance company. The borrower was also not disclosed.

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DevelopmentHealthcareNew JerseyNortheast

Atkins Cos. Completes Renovation of 70,140 SF Healthcare Building in Washington Township, New Jersey

by Taylor Williams

WASHINGTON TOWNSHIP, N.J. — New Jersey-based Atkins Cos. has completed the renovation of a 70,140-square-foot healthcare building in Washington Township, about 20 miles south of Philadelphia. The project team converted a former fitness club into 33,000 square feet of clinical healthcare space on the ground floor and 7,000 square feet of leasable space on the second floor. All common areas were upgraded with new lighting, ceilings, flooring, paint/wallcovering, furniture and artwork. Atkins also upgraded building signage, entry points and security systems. Construction began earlier this year.

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AcquisitionsIndustrialNew JerseyNortheast

JLL Negotiates Sale of Industrial Outdoor Storage Facility in Union, New Jersey

by Taylor Williams

UNION, N.J. — JLL has negotiated the sale of an industrial outdoor storage facility in the Northern New Jersey community of Union. The property at 2461 Iorio St. features a service facility with a clear height of 15 feet, one loading dock, four drive-in bays and 2.5 acres of outdoor storage space. Jason Lundy, Marc Duval, Jordan Avanzato and Nicholas Stefans of JLL represented the undisclosed seller in the transaction and procured the buyer, New York-based investment firm Ridgecut Road.

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Comcast-Spectacor-Philadelphia
DevelopmentNortheastPennsylvaniaRestaurantRetail

Comcast Spectacor, Cordish Provide Updates on Redevelopment of South Philadelphia Sports Complex

by Taylor Williams

PHILADELPHIA — Philadelphia-based Comcast Spectacor, in partnership with Cordish Cos., a Baltimore-based developer specializing in sports-anchored entertainment districts, has provided updates on the redevelopment of the Xfinity Live! sports complex in South Philadelphia. New developments include the transformation of the Live! plaza into a central two-story building featuring a rooftop oasis known as AVA Rooftop Bar; the expansion of the PBR Cowboy Bar via an outdoor backyard area with a stage and new bar offerings; and a new and improved turf area that will provide flexible space for various activities and community activations. Construction is expected to be fully complete by early 2026, and the facility will remain open while work is ongoing.

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IndustrialLeasing ActivityNew JerseyNortheast

Federation Distribution Services Signs 104,451 SF Industrial Lease in South Brunswick, New Jersey

by Taylor Williams

SOUTH BRUNSWICK, N.J. — Federation Distribution Services Inc. has signed a 104,451-square-foot industrial lease in South Brunswick, located roughly midway between Trenton and Newark. The third-party logistics company will occupy half the space at the newly renovated building at 461 Ridge Road for a term of 65 months. Gary Politi and Michael Viera of JLL represented the landlord, a partnership between New Jersey-based Woodmont Industrial Partners and Denver-based Sagard Real Estate, in the lease negotiations. Monica Franco of Lee & Associates represented the tenant.

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LoansNew JerseyNortheastRetail

G.S. Wilcox Arranges $13M Loan for Refinancing of Northern New Jersey Shopping Center

by Taylor Williams

CLIFTON, N.J. — Locally based financial intermediary G.S. Wilcox & Co. has arranged a $13 million loan for the refinancing of Clifton Plaza, a 95,222-square-foot shopping center in Northern New Jersey. The center was fully leased at the time of the loan closing. Big Lots is the anchor, and other tenants include Dollar Tree, New Jersey Eyes and Blink Fitness. David Fryer of G.S. Wilcox arranged the loan through an undisclosed life insurance company. The borrower was also not disclosed.

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IndustrialLeasing ActivityNortheastRhode Island

Cushman & Wakefield Negotiates 28,000 SF Office Lease in Johnston, Rhode Island

by Taylor Williams

JOHNSTON, R.I. — Cushman & Wakefield has negotiated a 28,000-square-foot office lease in Johnston, located just west of Providence. The tenant, regional contractor Dimeo Construction Co., is taking space at 1301 Atwood Ave., a 315,710-square-foot building that was originally constructed in 1973. Matt Fair and Peter Hayes of Cushman & Wakefield represented the landlord, Hobbs Brook Real Estate, in the lease negotiations. Alden Anderson of CBRE represented the tenant.

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Leasing ActivityNortheastPennsylvaniaRetail

Apple Cinemas to Open 17-Screen Theater Near Downtown Philadelphia

by Taylor Williams

PHILADELPHIA — Metro Boston-based Apple Cinemas will open a 17-screen theater near downtown Philadelphia. The company will backfill a former theater space of Regal Cinemas at Riverview Plaza III, which is owned by Philadelphia-based Tower Investments. Soloff Realty & Development Inc. represented the landlord in the lease negotiations. The opening is scheduled for fall 2025.

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