SOMERS, N.Y. — CBRE has arranged the sale of a 68,842-square-foot retail building in Somers, about 40 miles north of Manhattan, that is fully leased to grocer Stop & Shop. The store is located within Somers Commons, a 134,760-square-foot center that fronts U.S Route 6. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, Ceruzzi Properties, in the transaction. CBRE also procured the buyer, an undisclosed institutional investor.
EDISON, N.J. — Cushman & Wakefield has arranged $4.9 million in financing for an 82,500-square-foot industrial project that will be located in the Northern New Jersey community of Edison. Streamline Realty Funding provided the debt, which the borrower, Catalyst Development Partners, will use to acquire the 6.7-acre site and fund predevelopment costs. John Alascio, Chuck Kohaut, T.J. Sullivan and Jason Blankfein led the transaction for Cushman & Wakefield.
CAMBRIDGE, MASS. — CBRE has negotiated the sale of Hanover North Cambridge, an apartment community in North Cambridge. A fund advised by Goldman Sachs Asset Management purchased the asset from The Hanover Co. and its institutional partner for $182 million. Completed in 2022, Hanover North Cambridge offers 294 units, as well as more than 26,000 square feet of amenity space. The property is also home to a 7,067-square-foot, Caribbean-inspired restaurant, and is built over a podium that offers two levels of covered parking. Community amenities include a lobby with a reception area; clubroom with a projector screen and shuffleboard court; co-working lounge; private meeting spaces; and fitness center. According to the property website, Hanover North Cambridge offers studio, one-, two- and three-bedroom floor plans. Rental rates range from $2,976 per month for a studio to $6,284 per month for a three-bedroom apartment. The property is LEED Gold-certified. The community is located adjacent to the MBTA Alewife Station, giving residents train access to the greater Cambridge and Boston areas. Cambridge is home to more than 32 million square feet of office space, as well as Harvard University and the Massachusetts Institute of Technology (MIT). A CBRE Capital Markets team consisting of Simon …
WHIPPANY, N.J. — An affiliate of New York City-based REIT LXP Industrial Trust (NYSE: LXP) has sold a 127,144-square-foot industrial property in the Northern New Jersey community of Whippany that houses a flight training facility. The facility was originally built on 16.8 acres in 2006, expanded in 2008 and renovated in 2020. Building features include a clear height of 38 feet, seven drive-in doors and 312 parking spaces. Jose Cruz, Jeremy Neuer, Marc Duval, Jordan Avanzato, Nicolas Stefans, Jason Lundy and Peter Kim of JLL represented LXP Industrial Trust in the transaction. The buyer and sales price were not disclosed.
NEW YORK CITY — JLL has arranged a $33 million loan for the refinancing of 640 Broadway, a 21-unit luxury apartment building that occupies a full city block in Manhattan’s NoHo neighborhood. The nine-story, pre-war building was originally designed and constructed in 1896 and houses 4,241 square feet of retail space that is fully leased. Residential amenities include a fitness center and a rooftop terrace. Stephen Van Leer led the JLL team that arranged the loan through Bridge Investment Group on behalf of the borrower, Acadia Realty Trust.
CHELSEA, MAINE — Marcus & Millichap has brokered the sale of a portfolio of three self-storage facilities totaling 296 units in Chelsea, located just south of Augusta. The properties total 45,690 net rentable square feet of space. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, an individual/personal trust, in the transaction. The buyer and sales price were not disclosed. Jim Koury of Marcus & Millichap assisted in closing the deal as the broker of record.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $5.1 million sale of two apartment buildings in Brooklyn’s Bushwick neighborhood. The building at 105 Wilson Ave. houses four three-bedroom units and a Japanese restaurant, and the building at 153 Wilson Ave. is home to six residential units and a barbershop. Dov Chein, Benjamin Vago and Victor Sozio of Ariel represented the undisclosed seller in the transaction. The buyer was also not disclosed.
NEW YORK CITY — Onyx Renewable Partners, a provider of clean energy solutions, has signed a 10,760-square-foot office lease renewal at 505 Fifth Avenue in Midtown Manhattan. The 28-story building was built in 2006 and is adjacent to Bryant Park. Onyx plans to relocate from 230 Park Avenue to the entire 14th floor early next year. Paul Glickman, Diana Biasotti, Kristen Morgan and Kyle Young of JLL represented the landlord, Stawski Partners, in the lease negotiations. Clark Finney and T.J. Hochanadel of JLL, along with Brian Goldman, Scott Gutnick and Josh Berg of Newmark, represented the tenant.
CHARLESTOWN, MASS. — Locally based developer RISE has received approval from the Boston Planning & Development Agency for a 750,000-square-foot mixed-use project that will be located in the Charlestown area on the city’s north side. Designed by CBT Architects, the project is known as 40 Roland Street and is part of the larger redevelopment of Sullivan Square. Full plans call for 126 residential units, 20 percent of which will be earmarked as affordable housing, as well as 605,300 square feet of office and life sciences space, 31,685 square feet of retail and restaurant space and 70,799 square feet of open green space. These uses will be housed across three buildings and five parcels. The development team, which also expects the project to add about 2,000 permanent jobs to the local economy, will make infrastructural improvements to roadways and landscaping as part of the project.
CUTCHOGUE, N.Y. — Boutique financial advisory firm Talonvest Capital has arranged $27.8 million bridge loan for GoodFriend Storage North Fork, a self-storage facility located in the Long Island community of Cutchogue. The borrower, GoodFriend Storage, will use the proceeds to partially fund an expansion project, retire existing debt and support the lease-up of the expansion. The facility currently features 690 climate-controlled units, 213 non-climate-controlled units and 87 warehouse/portable units for a total of 123,174 net rentable square feet. Britt Taylor, Jim Davies, Tom Sherlock, Ivan Viramontes and Lauren Maehler of Talonvest arranged the financing through an undisclosed direct lender.