PRINCETON, N.J. — Galapagos, an international biotechnology company, has signed a 15,000-square-foot lease in Princeton. Galapagos will take space at Princeton Point, an office and life sciences complex located at 600 and 650 College Road E. Todd Elfand and Kevin Carton of Cushman & Wakefield represented the landlord, Nuveen Real Estate, in the lease negotiations. CBRE represented the tenant.
TOMS RIVER, N.J. — Developer DXD Capital has completed construction of a 761-unit self-storage facility in Toms River, located on the Jersey Shore. The four-story building spans 62,818 net rentable square feet and features multiple elevators and a drive-in loading area. DXD Capital acquired the site in summer 2022. Public Storage will operate the facility. Jayeff served as the general contractor on the project, and Century Bank was the construction lender.
PARAMUS, N.J. — HKS Real Estate Advisors has arranged a $46.5 million CMBS loan for the refinancing of a 140-unit multifamily property located in the Northern New Jersey community of Paramus. The newly built property consists of three buildings on a 35-acre site. According to Apartments.com, the property is named Soldier Hill Commons and exclusively houses two-bedroom units. John Harrington of HKS Real Estate arranged the loan through Citigroup on behalf of the undisclosed borrower.
WORCESTER, MASS. — Trinity Financial, a developer with offices in Boston and New York City, has begun a multifamily redevelopment project in Worcester. The firm, in partnership with the Worcester Housing Authority, is redeveloping The Curtis Apartments, a 372-unit property that was originally built in the 1950s. The first phase of the project consists of 129 units in two buildings, replacing 90 former public housing units and adding 39 additional affordable units that will be reserved for households earning up to 60 and 80 percent of the area median income.
NEW YORK CITY — Savills has brokered a 27,761-square-foot office sublease at 250 Hudson St. in Manhattan’s Hudson Square area. The subtenant, EvolutionIQ, a platform that serves the insurance industry, is relocating from a 10,705-square-foot space at 27 W. 24th St. Zev Holzman, Christopher Foerch and Will Joumas of Savills represented EvolutionIQ in the lease negotiations. Holzman and Foerch also secured a subtenant for EvolutionIQ’s old space. Gabe Marans, Mitti Liebersohn and Maxine Rosen, also with Savills, represented the sublandlord, TMRW Life Sciences. Jack Resnick & Sons owns 250 Hudson Street.
DENVILLE, N.J. — Locally based brokerage firm The Goldstein Group has negotiated the sale of an 8,800-square-foot retail building in the Northern New Jersey community of Denville. The owner, Orkin’s Premier Properties LLC, sold the building to Spark Properties LLC for an undisclosed price. Lew Finkelstein, C.J. Huter, Marc Palestina and Roy Paret of Goldstein Group represented both parties in the transaction.
CARNEYS POINT, N.J. — Atlanta-based developer Portman has completed Carney Commerce Center, a 587,000-square-foot industrial project in the Southern New Jersey community of Carneys Point. The site is located about 10 miles from the New Jersey-Delaware border and 30 miles from Philadelphia. The cross-dock facility features a clear height of 40 feet, 140 dock doors, 2,000 square feet of office space and parking for 318 cars and 244 trailers.
WEST ROCKHILL, PA. — JLL has arranged an undisclosed amount of construction financing and joint venture equity for a 330,000-square-foot industrial project in West Rockhill, located roughly midway between Philadelphia and Allentown. The building will be situated on a 29.6-acre site and feature 36-foot clear heights, 85 loading positions and parking for 280 cars and 76 trailers. Jon Mikula, John Plower, Ryan Cottone and Michael Lachs of JLL worked on behalf of the developer, J.G. Petrucci, to arrange the loan with Provident Bank and structure the joint venture with Boston-based Cabot Properties.
NEW YORK CITY — Marcus & Millichap has brokered the $9.3 million sale of The West, a 22-unit apartment building located at 144 West St. in Brooklyn. The building was completed in 2021 and offers one- and two-bedroom units and amenities such as a package room, urban garden, lounge with a bar and a rooftop deck. Shaun Riney, Michael Salvatico and Samuel Leppo of Marcus & Millichap represented the undisclosed seller in the transaction and procured the buyer, private investor Chesky Landau.
MELVILLE, N.Y. — Resideo Technologies has extended its 100,000-square-foot office lease in the Long Island community of Melville. The provider of home automation solutions will remain at 2 Corporate Center, a 291,230-square-foot building that is currently undergoing a capital improvement program, for an undisclosed term. Phil D’Avanzo of Cushman & Wakefield represented the landlord, Princeton International Properties, in the lease negotiations. The tenant representative was not disclosed.