WILMINGTON, MASS. — JLL has negotiated a 111,119-square-foot industrial lease at Upton Crossing in the northern Boston suburb of Wilmington. The lease is for the entirety of the building at 38 Upton Drive, which features a clear height of 32 feet. Joe Fabiano, Jamey Lipscomb, Jordan Yarboro and Brian Tisbert of JLL represented the landlord, locally based developer The Davis Cos., in the lease negotiations. Rachel Marks and Chelsea Andre, also with JLL, represented the tenant, an undisclosed provider of medical devices and equipment.
WOOD-RIDGE, N.J. — Locally based brokerage firm Hudson Atlantic has arranged the $3.6 million sale of The Highlander, a 19-unit apartment complex in the Northern New Jersey community of Wood-Ridge. The undisclosed seller originally developed the property, which according to Apatments.com exclusively offers one-bedroom units, in 1977. Adam Zweibel and Dante Fusaro of Hudson Atlantic brokered the deal. The buyer was also not disclosed.
BOSTON — Basis Investment Group, a New York City-based commercial real estate debt and equity investment platform, has purchased an equity stake in Phase III of Innovation Square, a $416 million life sciences development in Boston’s Seaport District. The company purchased a minority stake of an undisclosed value from the developer, Related Beal, the Boston office of Related Cos. Located on a 1.8-acre site at 22 Drydock St., Phase III of Innovation Square will comprise a seven-story life sciences building totaling 340,000 square feet. Related Beal is leasing the site from the City of Boston for a 99-year term. The property’s life sciences space is fully preleased to Vertex Pharmaceuticals, a biopharmaceutical company based in Boston. The company also fully occupies Phase II of Innovation Square, a four-story life sciences building located at 6 Tide St. in Boston. In addition to laboratories and offices for Vertex, 22 Drydock will include dedicated lab space for Gloucester Marine Genomics Institute, a nonprofit that provides hands-on training for careers in labs to veterans and neighborhood high school students. Related Beal says the project is the first LEED Platinum and zero-net-carbon life sciences building in Boston. A net zero carbon building is a highly efficient …
NEW YORK CITY — Developer JCS Realty is underway on construction of Bruckner House, a 365-unit multifamily project in The Bronx. The site is located at 40 Bruckner Blvd. in the Mott Haven neighborhood on the borough’s south side. Bruckner House offers studio, one- and two-bedroom units and amenities such as a fitness center, coworking areas, a movie theater and a rooftop pool and lounge area. Project partners include S9 Architecture and EP Engineering.
FLEMINGTON, N.J. — Marcus & Millichap has arranged the $6.2 million sale of The Shoppes at Flemington, a 130,613-square-foot shopping center in Central New Jersey. Home Goods and Ulta Beauty anchor the center as part of a roster of 26 national and local tenants. Alan Cafiero and Brent Hyldahl of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity.
PITTSBURGH — JLL has brokered the sale of the 127-room Hyatt Place Pittsburgh Airport Robinson Mall hotel. The hotel offers an indoor pool, fitness center and onsite dining options, as well as proximity to destinations such as Acrisure Stadium, the Pittsburgh Zoo, Settlers Cabin Park, S&T Bank Music Park, PPG Arena and the Pittsburgh Botanical Gardens. Philip White led the JLL team that represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
NEW YORK CITY — CoreWeave, a provider of cloud infrastructure services, has signed a 17,421-square-foot office lease at 33 Whitehall St. in Manhattan’s Financial District. CoreWeave will occupy the top floor of the 30-story building, which is known locally as Broad Financial Center. Jonathan Cope and Edward Goldman of CBRE represented the landlord, Stawski Partners, in the lease negotiations. Dan Posy and Ian Lipman of JLL represented the tenant.
NEW YORK CITY — Cushman & Wakefield has arranged a 13,671-square-foot office lease at 300 Park Avenue South in Midtown Manhattan. Rockrose Development owns the 14-story building, which was originally constructed in 1910. Josh Kuriloff, Matthias Li, Drew Braver, Remy Liebersohn and Heather Thomas of Cushman & Wakefield, along with internal agent Rob Fink, represented the landlord in the lease negotiations. Greg Wang, Christine Colley and Thomas Swartz of JLL represented the tenant, e-commerce firm 1stDibs.
LONG BRANCH, N.J. — New York City-based developer Kushner has broken ground on a $130 million multifamily project in the Northern New Jersey community of Long Branch. Designed by Minno + Wasko Architects & Planners, the property will comprise two four-story buildings that will house 299 units in studio, one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, coworking lounge, golf simulator, rooftop terraces, social lounges, pet spa, a children’s playroom and outdoor grilling and dining stations. A SuperFresh grocery market and neighborhood café will anchor the property’s retail component. The first units are expected to be available for occupancy in late 2025. Madison Realty Capital provided an $85 million construction loan for the project, and Unity Capital supplied $15 million in mezzanine financing.
NEW YORK CITY — San Francisco-based Terreno Realty Corp. (NYSE: TRE) has acquired a 24,000-square-foot industrial building in the East Williamsburg neighborhood of Brooklyn for $12 million. The site at 181 Lombardy St. spans about three-quarters of an acre, and the facility, which is currently vacant, features one dock-high door, one grade-level loading position and parking for 10 cars. The seller was not disclosed.