CHARLESTOWN, MASS. — Lydian, a Massachusetts-based provider of synthetic fuels, has opened a 25,000-square-foot life sciences facility in Charlestown, located north of Boston. The space is located within Hood Park, a 20-acre mixed-use redevelopment of the former H.P. Hood and Sons dairy facility, and will support operations at Lydian’s demonstration plant. The launch of that facility is scheduled for 2027.
NEWARK, N.J. — Hawkins Way Capital, a California-based private equity firm, is underway on a student housing renovation and expansion project in Newark. The project involves transforming University Centre, a 521-bed complex that serves students at Rutgers University-Newark, the New Jersey Institute of Technology and Seton Hall University, to be able to accommodate 800 occupants as opposed to the current capacity of 690 students. Construction, inclusive of upgrades to 96 apartments and various common spaces, began last year on University Centre’s 13-story tower and five-story housing block while the complex was partially occupied. Work on remaining units is expected to be complete this summer. BDB Construction Enterprise is the construction manager and general contractor for the project.
SOUTH WINDSOR, CONN. — CBRE has negotiated the $98.2 million sale of The Shops at Evergreen Walk, a 357,742-square-foot retail power center located outside of Hartford in South Windsor. A newly opened Whole Foods Market anchors the center, which is located within a larger master-planned development. Other tenants include L.L. Bean, Apple, Anthropologie, Pottery Barn, Williams-Sonoma, lululemon, Golf Lounge 18, J.Crew Factory, Gap Factory, Nike and Bluemercury. Nat Heald led the CBRE team that represented the seller, PGIM Real Estate, in the transaction. Scott Aiese led a JLL team that arranged a $76.9 million acquisition loan through an unnamed international bank on behalf of the buyer, a joint venture between Brand Street Properties and Barings. Chris Angelone and Zach Nitsche, also with JLL, structured the joint venture equity investment.
EAST ORANGE, N.J. — A partnership between two regional investment and development firms, Triangle Equities and Incline Capital, has begun leasing a 400-unit multifamily project in East Orange, about 20 miles west of New York City. Known as Embark at The Crossing, the project represents Phase I of a larger, 1,000-unit development called The Crossings at Brick Church Station. Units come in studio, one-, two- and three-bedroom floor plans. Amenities include two landscaped courtyards with fire pits, outdoor screening areas and grilling stations, as well as a fitness center, coworking lounge, resident clubroom, private theater, children’s playroom and a pet spa. Rents start at just under $2,000 per month for a studio apartment.
NEW YORK CITY — ING Americas has signed a 30,783-square-foot office lease expansion at 1133 Avenue of the Americas in Manhattan. The affiliate of Dutch banking giant ING Group now occupies 153,915 square feet across five floors at the 1.1 million-square-foot building. Robert Stillman, Michael Geoghgan, Ryan Alexander, Paul Stimpfle, Harly Stevens and Marlee Teplitzky of CBRE represented the tenant in the lease negotiations. Tom Bow, Rocco Romeo and Nora Caliban internally represented the landlord, The Durst Organization.
CHAPPAQUA, N.Y. — CBRE has negotiated the $76.5 million sale of Chappaqua Crossing, a 120,986-square-foot shopping center located in New York’s Westchester County that is part of the redevelopment of the 114-acre former Reader’s Digest headquarters campus. Tenants at the center include anchors Whole Foods Market and Life Time Fitness, as well as Starbucks and Chase Bank. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, Heitman, in the transaction and procured Barings as the buyer.
PHOENIXVILLE, PA. — Marcus & Millichap has brokered the $7.4 million sale of Phoenixville Shopping Center, a 33,093-square-foot retail property located roughly 28 miles northwest of Philadelphia. Built in 2007, the center was fully leased at the time of sale to tenants such as Fresenius Kidney Care, Labcorp, NovaCare Rehabilitation, State Farm and Benchmark Federal Credit Union. Scott Woodard and Derrick Dougherty of Marcus & Millichap represented the seller, a private investor based in Pennsylvania, in the deal.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $7 million sale of a 9,500-square-foot multifamily development site in The Bronx. The site at 114 Bruckner Ave. is located in the borough’s Mott Haven neighborhood and can support 68,400 buildable square feet of new development via eligibility for the City of Yes program. Jason Gold and Gabriel Elyaszadeh of Ariel represented the undisclosed seller in the transaction. The buyer was also not disclosed.
NEW YORK CITY — The Fortune Society has signed a 31-year, 91,461-square-foot office lease renewal and expansion in the Long Island City area of Queens. The nonprofit organization that supports ex-convicts now occupies the entire 40,429-square-foot second floor, 37,469 square feet on the ground floor and 13,564 square feet on the lower level of the building at 29-76 Northern Blvd. Carri Lyon, David Lebenstein, Jared Thal and Nick Chin of Cushman & Wakefield represented the tenant in the lease negotiations.
NEW YORK CITY — BWE, a Cleveland-based commercial finance firm, has arranged two loans totaling $120 million for the refinancing of a pair of Marriott-branded hotels in the New York City. The financing consisted of $90 million for the 357-room Residence Inn Times Square hotel in Midtown Manhattan and $30 million for the 160-room Courtyard by Marriott Long Island City in Queens. Steve Perricone of BWE arranged the loans, both of which were structured with 15-year terms and 15-year amortization schedules. The name(s) of the direct lenders, as well as the regional hospitality investor that owns the properties, were not disclosed.