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The-Knox-Manhattan
LoansMultifamilyNew YorkNortheast

Affinius Capital Provides $52M Acquisition Loan for Manhattan Apartment Building

by Taylor Williams

NEW YORK CITY — Affinius Capital, which is a joint venture between San Antonio-based USAA Real Estate and New York-based Square Mile Capital Management, has provided a $52 million acquisition loan for The Knox, a 110-unit apartment building in Manhattan’s Murray Hill neighborhood. Units come in studio, one- and two-bedroom floor plans, and the 36-story building also houses 2,700 square feet of ground-floor retail space. Amenities include a rooftop deck, fitness center, resident lounge and a 24-hour attended lobby. The borrower was New York-based Four Winds Real Estate.

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461-Ridge-Road-South-Brunswick
DevelopmentIndustrialNew JerseyNortheast

Woodmont Industrial Completes 210,000 SF Expansion, Renovation in South Brunswick, New Jersey

by Taylor Williams

SOUTH BRUNSWICK, N.J. — Locally based developer Woodmont Industrial Partners has completed a 210,000-square-foot expansion and renovation project in South Brunswick, about 50 miles south of Manhattan. Woodmont, in partnership with Sagard Real Estate, the Denver-based firm formerly known as EverWest Real Estate Investors, renovated a 145,000-square-foot facility at 461 Ridge Road and developed a new, 65,000-square-foot facility. The property now features a clear height of 32 feet, 30 loading doors and four drive-in doors. JLL is marketing the property for lease.

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AcquisitionsMultifamilyNortheastPennsylvania

Hudson Atlantic Arranges Sale of 57-Unit Apartment Building in Drexel Hill, Pennsylvania

by Taylor Williams

DREXEL HILL, PA. — Regional brokerage firm Hudson Atlantic has arranged the sale of Garrett House Apartments, a 57-unit multifamily building in Drexel Hill, a western suburb of Philadelphia. The property was built in 1960 and exclusively houses one-bedroom units. Adam Zweibel led the Hudson Atlantic team that brokered the deal, which traded at a price of $6 million and a cap rate of 5.75 percent. The buyer and seller, which was also the original owner, were not disclosed.

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AcquisitionsNew YorkNortheastRetail

Marcus & Millichap Brokers $7.6M Sale of Long Island Retail Property

by Taylor Williams

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.

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AcquisitionsIndustrialNortheastPennsylvania

Midland Properties Buys 70,000 SF Industrial Property in Metro Philadelphia

by Taylor Williams

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.

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UMass-Chan-Medical-School-Worcester
CivicDevelopmentMassachusettsNortheast

UMass Completes $350M Academic Project at Chan Medical School in Worcester

by Taylor Williams

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.

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Bisby-Newport-New-Jersey
DevelopmentMultifamilyNew JerseyNortheast

LeFrak Begins Leasing 34-Story Apartment Tower in Newport, New Jersey

by Taylor Williams

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.

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AcquisitionsMassachusettsNortheastRetail

Partnership Acquires Colony Place Shopping Center in Plymouth, Massachusetts, for $86M

by Taylor Williams

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.

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IndustrialLoansNew YorkNortheast

Cushman & Wakefield Arranges $69.1M Loan for Refinancing of Queens Industrial Property

by Taylor Williams

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.

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AcquisitionsNortheastPennsylvaniaRetail

Marcus & Millichap Brokers $10.1M Sale of Retail Building in Bellefont, Pennsylvania

by Taylor Williams

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.

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