LINCOLN PARK, N.J. — CBRE has negotiated a 48,650-square-foot industrial lease renewal at 132 Beaverbrook Road in the Northern New Jersey community of Lincoln Park. The tenant is Richelieu American Ltd., a wholesale distributor of specialty hardware, accessories, supplies and tools. Kevin Dudley, Chad Hillyer, Nicholas Klacik and Kate Granahan of CBRE represented the landlord, Northbridge Partners, in the negotiations. The tenant representative was not disclosed.
NEW YORK CITY — A joint venture between Turnbridge Equities, Dune Real Estate Partners and Sterling Project Development has completed Bronx Logistics Center, a 1.3 million-square-foot speculative industrial project on the borough’s south side. The site at 980 E. 149th St. is an assemblage of five parcels and spans 14.2 acres. The multi-story facility offers a clear height of 32 feet and more than 1,500 parking spaces. ARCO Design/Build provided architectural and general contracting services for the project. The project was first announced in September 2020.
NEW YORK CITY — An affiliate of international lender White Oak Global Advisors and California-based Thorofare Capital have provided a $21.5 million loan for a self-storage conversion project in Manhattan’s Tribeca neighborhood. The borrower, CSP Properties LLC, will use the proceeds to acquire the site at 78 Walker St., which currently houses a vacant office and industrial building, and convert the property into a 300-unit self-storage facility. Public Storage will operate the facility, which will span 30,540 net rentable square feet.
NEW YORK CITY — ERG Commercial Real Estate has arranged a $16.5 million loan for the refinancing of two office and retail buildings in Manhattan’s SoHo neighborhood. The adjacent buildings at 65-67 Greene St. total 21,321 square feet and were fully leased at the time of sale to tenants such as outdoor apparel and equipment retailer Norrona and PatBo clothing store. Ryan Lewis of ERG Commercial originated the debt. The borrower and direct lender were not disclosed.
MELVILLE, N.Y. — Estée Lauder has signed a 43,000-square-foot office lease in the Long Island community of Melville. The beauty and cosmetics provider is taking space at 2 Corporate Center Drive, a 291,230-square-foot building that is currently undergoing a capital improvement program. Phil D’Avanzo of Cushman & Wakefield represented the landlord, Princeton International Properties, in the lease negotiations. Jeff Nemshin of Paragon Group represented Estée Lauder.
NEW YORK CITY — Cushman & Wakefield has negotiated a 16,749-square-foot, 16-year office lease renewal at 250 Hudson St. in Lower Manhattan. The tenant, Writers Guild of America East Inc., will remain in its space on the seventh floor of the 400,000-square-foot building, which it has occupied since 2010. David Hoffman and Sam Hoffman of Cushman & Wakefield represented the tenant in the lease negotiations. Adam Rappaport and Brett Greenberg represented the landlord, Jack Resnick & Sons, on an internal basis.
BEDFORD, MASS. — Persimmon Technologies has signed a 142,224-square-foot life sciences lease in the northeastern Boston suburb of Bedford. The property at 35 Crosby Drive, which is a redevelopment of a former industrial flex property, will serve as the robotics and electric motor manufacturer’s new North American headquarters. Richard Ruggiero, Torin Taylor, Matthew Adams and Rory Walsh of Newmark represented the landlord, New York City-based REIT, W. P. Carey, in the lease negotiations. Colliers represented the tenant. The redevelopment is expected to be complete late next year.
HAVERHILL, MASS. — KeyBank has provided a $24 million Freddie Mac loan for the refinancing of Pine Brook Place, a 240-unit apartment complex located north of Boston in Haverhill. The property was built on nine acres in 1974 and offers studio, one- and two-bedroom units across 10 buildings. Amenities include a pool, courtyard and onsite laundry facilities. Dirk Falardeau and Matt Purtell of KeyBank originated the financing on behalf of the borrower, locally based developer The Dolben Co.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the sale of a development site located at 240 W. 54th St. in Midtown Manhattan. The site can support up to 75,000 square feet of buildable space, and the zoning allows for either residential or commercial product. Christoffer Brodhead, Howard Raber and Nikola Cosic of Ariel represented the undisclosed seller in the transaction. The buyer was also not disclosed.
ORANGE, N.J. — A partnership between PEEK Properties and Circle Squared Alternative Investments has received $20.5 million in construction and permanent financing for The Lincoln, a 102-unit multifamily project located in the Northern New Jersey community of Orange. The property will offer studio, one- and two-bedroom units and amenities such as a fitness center, tenant lounge and a courtyard deck. Amboy Bank provided the debt. Inglese Architects & Engineering is designing the project. Completion is slated for next spring.