WORCESTER, MASS. — Kelleher & Sadowsky Associates Inc. has arranged $14 million in financing for a multifamily conversion project in downtown Worcester. The borrower, CMK Development Partners, will use the proceeds to acquire and convert a historic three-building complex known as One Exchange Place into 44 apartments and ground-floor retail space. Units will feature a mix of floor plans, and nine residences will be set aside as affordable housing. Amenities will include a fitness center, business center and a revitalized outdoor courtyard. Meghan Liddy and Chris Naff led the debt placement for Kelleher & Sadowsky. The direct lender was not disclosed.
NEW BEDFORD, MASS. — CBRE has brokered the $12.2 million sale of Fieldstone Marketplace, a 192,003-square-foot shopping center in New Bedford, located at the base of Cape Cod. Restaurant Depot and discount retailer Ollie’s anchor the newly repositioned center. Nat Heald, Connor Scott and Jordana Roet of CBRE represented the seller in the transaction and procured the buyer. Both parties requested anonymity.
LEOMINSTER, MASS. — GSC USA has renewed its 231,000-square-foot industrial lease in Leominster, a western suburb of Boston. The plastics injection molding company will remain at the building at 175 Pioneer Drive for an unspecified term. Steve Woodworth and Mitch Kumin of Savills represented GSC USA in the lease negotiations. The landlord, Arris Partners, was self-represented.
“If you can make it in New York, you can make it anywhere.” Martin Scorsese, Frank Sinatra and Jay-Z probably weren’t thinking about brick-and-mortar retail real estate when they penned and recorded the iconic song lyric, but that doesn’t make the expression any less applicable to that particular subject. The notion of merchandisers, restaurateurs and entertainment operators needing a certain and precise combination of savvy, moxie and pizzazz to succeed in New York City isn’t so much new as it is resurrected. That’s because it’s only been a few years since the asset class was left for dead. But retail resiliency is now an established and proven narrative that underpins commercial real estate investment. “Brick-and-mortar retail is truly here to stay,” proclaims Beth Rosen, executive vice president at RIPCO Real Estate. “Over the years, retailers have gotten so much more savvy and are now entering into smarter deals. There’s a lot of positive sentiment about the sector, which has seen its share of ups and downs. Rents got really out of control at one point, and if the economy wasn’t strong, retailers didn’t survive. But now, it’s really more about partnerships between tenants and landlords.” Limited Options That said, owners …
NEW YORK CITY — Global alternative investment firm Investcorp has completed the $400 million acquisition of an industrial portfolio located in markets across the Eastern and Western United States. The seller was not disclosed. Totaling 2.6 million square feet, the portfolio comprises 35 buildings across seven markets. Properties in the portfolio include a 76,000-square-foot, two-building portfolio in Philadelphia; a 44,000-square-foot building in New Jersey; 92,000 square feet across two buildings on Long Island; a 1.3 million-square-foot logistics portfolio in Sacramento, Calif.; 156,000 square feet across two buildings in Tampa, Fla.; a 115,000-square-foot, three-building portfolio in South Florida; and a 12-building, 814,000-square-foot portfolio on Atlanta’s north side. Average occupancy across the portfolio was at 97 percent as of October. According to Green Street Advisors, each of the seven markets associated with the portfolio saw strong demand growth in the industrial sector during the third quarter of 2025. The firm noted that new supply in these markets makes up less than 1.3 percent of current inventory. “Despite shifting trade dynamics and supply chain disruptions across the country, the U.S. industrial sector has retained its foundational strength,” says Herb Myers, global head of real assets at Investcorp. “This is particularly true for these and similar …
NEW YORK CITY — John Hancock Life Insurance Co. has provided an $80 million loan for the refinancing of Gracie Mews, a 310-unit multifamily building on Manhattan’s Upper East Side. The 35-story building was developed in 1980 and offers amenities such as a pool, health club, fitness center and 24-hour concierge services. Scott Singer, Andy Singer, Kevin Swartz and Jeffrey Moroch of Avison Young arranged the 10-year, fixed-rate loan on behalf of the owner, Jack Resnick & Sons.
CHELMSFORD AND MEDFORD, MASS. — A partnership between two local investment firms, Marcus Partners and Rhino Capital Advisors, has purchased a portfolio of five industrial properties totaling 307,053 square feet in the Boston area. The sales price was $40.5 million. Four of the properties are located in Chelmsford, and the fifth is located in Medford. Citizens Bank provided acquisition financing for the deal. The seller was not disclosed.
NEW YORK CITY — Eastern Union has arranged a $20.5 million loan for the refinancing of a 49-unit apartment building in the Jamaica area of Queens. Zoria Apartments is an eight-story building that houses 35 one-bedroom units, 12 two-bedroom apartments and two penthouses, as well as four retail spaces and a community facility. Alex Jaffa of Eastern Union arranged the loan through Wells Fargo. The borrower was not disclosed.
MOUNT LAUREL, N.J. — NAI Mertz has brokered the sale of a 106,000-square-foot industrial building in the Southern New Jersey community of Mount Laurel. The building at 116 Gaither Drive was completed in 1982 and features a clear height of 22 feet. Jonathan Klear of NAI Mertz represented the undisclosed buyer in the deal. Dean Torosian, Nate Demetsky and Matt Kemery of JLL represented the seller, Endurance Real Estate Group.
BOSTON — Urban Edge Partners has acquired Brighton Mills Center, a 91,000-square-foot retail property in Boston. Grocer Star Market anchors the center, and other tenants include Petco, Spring Shabu Restaurant, Bank of America and McDonald’s. Nat Heald, Jordana Roet, Connor Scott and Scott Dragosled of CBRE represented the undisclosed seller in the negotiations. The team also procured the buyer. The sales price was not disclosed.