PITTSBURGH — Champion Container Corp., a New Jersey-based distributor of packaging containers, has signed a 44,569-square-foot industrial lease at The River Avenue Distribution & Technology District in Pittsburgh. The tenant is consolidating two smaller distribution hubs within Building 8 at the development, the site of which was the original H.J. Heinz manufacturing campus. Michael Stuart of CBRE represented Champion Container Corp. in the transaction. Golden East Investors owns the property.
PHILADELPHIA — Colliers has arranged a $27.1 million construction loan for a 124-unit multifamily project that will be located at 933 Canal St. in Philadelphia’s Northern Liberties neighborhood. The project carries a total price tag of $34 million and will include two commercial spaces. Bob Beckman of Colliers arranged the loan through Boston-based UC Funds on behalf of the borrower, locally based development and investment firm GY Properties.
LITTLE FALLS, N.J. — New Jersey-based developer Accurate has completed Citizen Little Falls, a 185-unit apartment complex located about 20 miles west of New York City. The transit-served property features one- and two-bedroom units. The amenity package comprises a fitness center, outdoor grilling and dining stations, business center, mail and package room, lobby lounge and a pet spa. Rents start at $2,640 per month for a one-bedroom apartment.
NEW YORK CITY — JLL has brokered the $7.7 million sale of a 15-unit apartment building located at 515 W. 47th St. in Manhattan’s Hell’s Kitchen neighborhood. The five-story building houses a mix of one-, two-, three- and four-bedroom units as well as a commercial space occupied by a coffee shop. The ground-floor rear apartments feature private outdoor spaces, and units on the fifth floor have private roof terraces. Jonathan Hageman, Hall Oster, Teddy Galligan, Braedon Gait, Jake Russell and Bob Knakal of JLL represented the seller, Corigin, in the transaction. The buyer was RockSolid Ventures.
NEW YORK CITY — Global asset manager Marshall Wace has signed a 79,000-square-foot office lease at The Spiral, a 66-story, 2.8 million-square-foot tower in Midtown Manhattan. The tenant, which is relocating from 350 Park Avenue, has committed to the entire 32nd floor and part of the 33rd floor for 14 years. Andrew Sachs and Bill Levitsky of Newmark represented Marshall Wace in the lease negotiations. Greg Conen and Sam Brodsky represented the landlord, Tishman Speyer, on an internal basis. The build-out of the space will begin later this year.
ORANGE, CONN. — Locally based brokerage firm Pearce Commercial has negotiated the sale of a 29,750-square-foot retail building in Orange, located in the southern coastal part of Connecticut. According to LoopNet Inc., the freestanding building at 401 Boston Post Road was originally constructed in 1945. Carl Russell of Pearce Commercial represented the buyer, Tessa Marie Holdings, in the deal. Tyler Lyman of True Commercial Real Estate represented the seller. Through an affiliate, the buyer has committed to opening a baseball and softball training facility that will occupy half of the building under a separate lease agreement. The other half remains available for lease.
FARMINGTON, CONN. — CBRE has brokered the sale of Pond View Corporate Center, a two-building, 225,551-square-foot office campus in Farmington, located west of Hartford. The sales price was $29.7 million. Jeffrey Dunne, Steven Bardsley, Travis Langer, Daniel Blumenkrantz and John McCormick of CBRE represented the seller, an affiliate of Sovereign Partners, in the transaction. CBRE also procured the buyer, an undisclosed family office. Pond View Corporate Center was 92 percent leased at the time of sale.
CLAY, N.Y. — Locally based investment firm Hart Lyman Co. has purchased Great Northern Mall, a shuttered retail and dining development located in the northern Syracuse suburb of Clay, for $9 million. The new ownership plans to redevelop the 120-acre property into a mixed-use destination and has partnered with Conifer Realty for the residential component. Britt Raymond and Kyle Fant of SRS Real Estate Partners represented the seller, New York-based Kohan Retail, in the transaction. The duo also procured Hart Lyman as the buyer.
BOUND BROOK, N.J. — Walker & Dunlop has provided a $6.7 million Fannie Mae loan for the refinancing of The Vibe, a 28-unit apartment complex located in the Northern New Jersey community of Bound Brook. The 10-year, interest-only loan retires existing construction debt. The Vibe offers 12 one-bedroom apartments and 16 two-bedroom apartments. The borrower was New Jersey-based Reynolds Asset Management.
NEW YORK CITY — Locally based brokerage firm GFI Realty has negotiated the sale of an eight-unit apartment building in the Boerum Hill area of Brooklyn. The four-story building was originally constructed in 1905, offers two- and three-bedroom units and recently underwent a gut renovation. Zachary Fuchs of GFI Realty represented the seller, Eric Orlofsky, and the buyer, an undisclosed local investor, in the transaction.