NORTH BRUNSWICK, N.J. — Bubble Island Playground will open a 5,975-square-foot indoor gym at The Shoppes at North Brunswick, a 147,054-square-foot lifestyle shopping center in Central New Jersey. The location will be the company’s first overall. Kevin Pelio of Azarian Realty Co. represented the undisclosed landlord in the lease negotiations. Jim Cheng of eXp Realty represented the tenant. A tentative opening date was not announced.
ALLENTOWN, PA. — JLL has arranged a $22 million construction loan for a 224,000-square-foot industrial project in the Lehigh Valley city of Allentown. The project at 2401 W. Emaus Ave. will be a warehouse and distribution facility with a clear height of 36 feet, 43 dock-high doors and parking for 129 cars and 42 trailers. JLL arranged the floating-rate construction loan through BHI, the U.S. division of Israeli lender Bank Hapoalim, on behalf of the borrower, Woodmont Industrial Partners. Construction is expected to last between 12 to 18 months.
FLORHAM PARK, N.J. — Locally based developer Garden Communities has completed 147 Columbia, a 126-unit apartment complex in the Northern New Jersey community of Florham Park. The site formerly housed an office building, and the redevelopment began in 2023. Units come in one- and two-bedroom floor plans and range in size from 861 to 1,535 square feet. Residences are furnished with stainless steel appliances, custom cabinetry and individual washers and dryers. Leasing began in March, at which time rents started at $2,600 per month for a one-bedroom apartment. Today, rents start at about $2,800 per month for a one-bedroom unit.
FAYETTEVILLE, N.Y. — Regional brokerage firm Adirondack Capital Partners has negotiated the $7.9 million sale of Fayetteville Pines Townhomes, a 78-unit multifamily property located on the eastern outskirts of Syracuse. According to Apartments.com, the property was built in 1973 and houses one-, two- and three-bedroom units. Michael Hunter Coghill and Chad Sinsheimer of Adirondack represented the seller, DHM Properties, in the transaction and procured the undisclosed buyer.
NEW YORK CITY — Marcus & Millichap has brokered the $5.7 million sale of a four-story mixed-use building located at 32 Avenue A in Manhattan’s East Village area. The building comprises three newly renovated apartments and a retail space occupied by Mary O’s Irish Pub. Joe Koicim, Logan Markley and Zan Colin of Marcus & Millichap represented the seller and procured the buyer, both of which were local private investors that requested anonymity, in the transaction.
NEW YORK CITY — Greek restaurant concept Pixida has signed a 16,129-square-foot lease to open a new, Mediterranean-style restaurant in Manhattan’s Nomad district. The lease term is 20 years, and the space is located within 245 Fifth Avenue, a 24-story, 321-527-square-foot building. David Graff of Compass represented Pixida, which expects to open in late 2025, in the lease negotiations. Brad Schwarz and Olivia Hwang of Lee & Associates, along with internal agent Gregg Weisser, represented the landlord, The Moinian Group.
JERSEY CITY, N.J. — Kushner is nearing completion of The Journal, a nearly $1 billion luxury apartment development in Jersey City’s Journal Square area. The project features two 64-story towers that are now topped out, and preleasing efforts are set to begin in early 2025. Kushner has selected Manhattan-based The Marketing Directors as the marketing and leasing agent for the property. Upon completion, The Journal will comprise more than 2 million square feet with 1,723 apartment units and 45,000 square feet of upscale amenity spaces. Target has leased the entirety of the development’s 40,000 square feet of ground-floor retail space. Positioned adjacent to the Journal Square PATH station, The Journal will provide convenient access to Manhattan. Residents will enjoy views of the Hudson River, Statue of Liberty, Ellis Island and the Manhattan skyline. Designed by global architectural firm Woods Bagot, The Journal is characterized by a slender, vertical profile. A nearly one-acre public plaza adorned with landscaping and seating areas will open onto John F. Kennedy Boulevard. Amenities at The Journal will encompass a wide array of health, wellness and recreational options, including an Olympic-size indoor pool, whirlpool spa, sauna, steam rooms, bowling alley, golf simulator and multiple lounges. The …
SAUGUS, MASS. — Chicago-based investment firm Waterton has purchased Residences at Stevens Pond, a 326-unit community in Saugus, approximately 10 miles north of Boston. Constructed in 2003, Residences at Stevens Pond consists of 25 three-story residential buildings and a clubhouse building. The community features one-, two- and three-bedroom units, including apartments, lofts and townhomes. Amenities include a pool and spa, outdoor pavilion with fireplace, fitness center, arcade, indoor half-basketball court and a golf simulator. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, Los Angeles-based investment firm JRK Property Holdings, in the transaction and procured Waterton as the buyer. The new ownership plans to renovate the unit interiors and common areas at the community. Planned updates include new quartz countertops, backsplashes and cabinets, as well as lighting and plumbing fixtures throughout.
NEW YORK CITY — Locally based brokerage firm GFI Realty Services has arranged the $5.6 million sale of a 49-unit apartment building at 100 Fort Washington Ave. in Manhattan’s Washington Heights neighborhood. Constructed in 1930, the six-story building houses a mix of one-, two-, three-, four- and five-bedroom units. Zachary Fuchs and Matthew Sparks of GFI Realty represented the seller in the transaction, while Sparks also procured the buyer. Both parties were private investors.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $3.2 million sale of an industrial property in Brooklyn. The site at 193-199 Varet St. comprises a two-story, 3,783-square-foot building and a 7,500-square-foot vacant lot. According to LoopNet Inc. the building was constructed in 1975 and features a clear height of 15 feet. Sean Kelly and Benjamin Vago of Ariel represented the seller, the Armel Family, in the transaction. The buyer was not disclosed.