BETHLEHEM, PA. — Bosch Rexroth, a provider of industrial machinery, has broken ground on a 50,000-square-foot industrial expansion project in the Lehigh Valley city of Bethlehem. The new building at 2300 City Line Road will be an expansion of the company’s existing facility, which has been operating in the area for nearly 60 years. Regional developer J.G. Petrucci Co. is serving as the general contractor for the project. Construction is expected to be complete in mid-2026.
CAMBRIDGE, MASS. — Los Angeles-based Thorofare Capital has provided a $50.5 million bridge loan for the refinancing of Cambridgeport Labs, a two-building life sciences development located across the Charles River from Boston. Located at 99 Erie St. and 167 Sidney St. near the Massachusetts Institute of Technology campus, the buildings total 56,351 square feet. The borrower, a partnership between Barings and Greatland Realty Partners, acquired the buildings in September 2022 and subsequently implemented a redevelopment to support lab and life sciences uses. Andrew Kim led the transaction for Thorofare.
NORWALK, CONN. — Atlantic Capital Partners, the capital markets advisory division of regional brokerage firm Atlantic Retail, has arranged a $23 million loan for the refinancing of a retail building located in the southern coastal Connecticut city of Norwalk. The building at 100 Connecticut Ave. is ground-leased to Lowe’s Home Improvement on a long-term basis. Stephen Joseph and Stephen Hassenflu arranged the fixed-rate loan on behalf of the owner, Hall Investments. The direct lender was not disclosed.
CANTON, MASS. — Marcus & Millichap has brokered the $4.6 million sale of a 2.2-acre commercial development site in Canton, located south of Boston. The three contiguous parcels at 399 and 403 Neponset St. and 0 Jackson St. are located within a zoning overlay district that allows for multifamily redevelopment of up to four stories as of right. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
BURLINGTON, MASS. — Pramand, a medical technology company, has signed a 41,400-square-foot life sciences lease in Burlington, located northwest of Boston. The space is located within the six-building, 1.2 million-square-foot Blue Sky Center campus that is undergoing a $10 million capital improvement program. Matthew Malatesta, Tyler McGrail, Michael Frisoli, Eric Jeremiah and Connall Chamberlain of Newmark represented the landlord, a joint venture between Nordblom Co. and a global real estate private equity firm, in the lease negotiations. CBRE’s Jon Varholak and Perry Beal represented the tenant.
NEW YORK CITY — Cushman & Wakefield has negotiated a 36,651-square-foot industrial lease near JFK International Airport in Queens. The tenant, Horizon Air Freight, will occupy space at Inwood Logistics Center, a 10-building development. Rico Murtha, Helen Paul, Sonny Singh, Thomas Deluca, David Frattaroli, John Giannuzzi and Joseph Hentze Jr. of Cushman & Wakefield represented the landlord, a partnership led by Onyx Equities, in the lease negotiations. The tenant representative was not disclosed.
JERSEY CITY, N.J. — JLL has arranged the $340 million refinancing of two Jersey City apartment buildings totaling 938 units. The 36- and 48-story buildings are known as 50 and 70 Columbus and were completed in 2007 and 2015, respectively. Both buildings feature studio, one-, two- and three-bedroom units with in-unit washers and dryers, walk-in closets, hardwood floors, stone countertops and stainless steel appliances. Amenities include a heated outdoor pool, fitness center, rooftop deck with grilling spaces and a courtyard. Thomas Didio, Thomas Didio, Jr., Gerard Quinn and Michael Mataras of JLL arranged the debt through Truist Financial Corp. on behalf of the owner, a joint venture between Ironstate Development Co. and Panepinto Properties.
GREENWICH, CONN. — Hawaii-based Trinity Investments has sold a majority interest in the 374-room Hyatt Regency Greenwich hotel in southern coastal Connecticut. The percentage was not disclosed. The building served as a printing press for Condé Nast from 1921 to 1967 before being redeveloped into a hotel. Trinity bought the hotel from Hyatt in late 2022 and subsequently implemented a $35 million capital improvement program. Today, the Hyatt Regency Greenwich features an indoor pool, fitness center, salon and 35,000 square feet of meeting and event space. The buyer was an affiliate of Certares Real Estate Management LLC.
HO-HO-KUS, N.J. — Vertical Real Estate Capital has completed 619 North, a 67-unit multifamily project located in the Northern New Jersey community of Ho-Ho-Kus. The property offers one- and two-bedroom units and amenities such as a residential lounge, coffee bar, coworking center with private conference rooms, fitness center, sport simulator and a rooftop lounge. Mary Cook Associates handled interior design of the project. Rents start at $3,400 per month for a one-bedroom apartment.
STERLING, MASS. — Marcus & Millichap has brokered the $4.2 million sale of a 37,000-square-foot industrial flex building in Sterling, about 50 miles west of Boston. The building sits on a 6.6-acre site at 86 Leominster Road and features four loading docks, a drive-in door and 150 parking spaces. Harrison Klein of Marcus & Millichap represented the seller, which will retain occupancy of a portion of the building, in the transaction. Alan Ringuette of The Stubblebine Co. represented the buyer, which will occupy the remainder. Both parties requested anonymity.