DURHAM, N.H. — Colliers has brokered the $8.8 million sale of Mill Road Plaza, a 53,238-square-foot shopping center in Durham, located near the New Hampshire-Massachusetts border. Grocer Hannaford and Rite Aid serve as the anchor tenants of the two-building, 10.6-acre property. Abigail Bachman and David Choate of Colliers represented the seller, Colonial Durham Associates LP, in the transaction. The buyer was regional investment firm Torrington Properties.
PRINCETON, N.J. — Cushman & Wakefield has negotiated a 53,000-square-foot office lease at Princeton Point, a two-building office complex located within the university’s 2,000-acre business and research campus. The property offers an onsite café/restaurant, conference center and a courtyard with outdoor private seating. Kevin Carton and Todd Elfand of Cushman & Wakefield represented the landlord, Nuveen Real Estate, in the lease negotiations. Shawn Straka, also with Cushman & Wakefield, represented the tenant, pharmaceutical company Dr. Reddy’s Laboratories.
NEW YORK CITY — New York Cares, a nonprofit organization that coordinates volunteer opportunities throughout the city, has signed an 8,280-square-foot office lease at 39 Broadway in Manhattan’s Financial District. The 447,400-square-foot building is also home to tenants such as Waterfront Commission of New York Harbor and Food Bank for New York City. Carri Lyon and Jenna Catalon of Cushman & Wakefield represented the tenant in the lease negotiations. Brian Siegel of The Lawrence Group represented the landlord, Cammeby’s Management Co. LLC.
Walker & Dunlop Provides $35.6M Agency Loan for Refinancing of Brooklyn Affordable Housing Portfolio
NEW YORK CITY — Walker & Dunlop has provided a $35.6 million Fannie Mae loan for the refinancing of a portfolio of eight affordable housing buildings totaling 251 units in Brooklyn’s Williamsburg neighborhood. Frank Cassidy and John Gilmore of Walker & Dunlop worked alongside New York City Housing Preservation & Development and the New York City Housing Authority to secure the financing, which was structured with a fixed interest rate, 35-year amortization schedule and five years of interest-only payments. The borrower, Grower Housing Development Fund Corp., will use $8 million of the proceeds to fund capital improvements and preserve the portfolio’s affordability status.
NEW YORK CITY — Locally based brokerage firm Rosewood Realty Group has arranged the $13.5 million sale of a 21-unit multifamily building located at 14 Bedford St. in Manhattan’s West Village. The six-story building was originally constructed in 1900 and includes two ground-floor commercial spaces. Aaron Jungreis, Ben Khakshoor and Alex Fuchs of Rosewood Realty Group represented the seller, private investor Michael Laub, in the transaction. The trio also procured the buyer, Wharton Properties.
PRINCETON, N.J. — State Street Bank has signed a 63,000-square-foot office lease renewal at Princeton Point, a two-building office complex located within the university’s 2,000-acre business and research campus. The property offers an onsite café/restaurant, conference center and a courtyard with outdoor private seating. Kevin Carton and Todd Elfand of Cushman & Wakefield represented the landlord, Nuveen Real Estate, in the lease negotiations. JLL represented the tenant.
NEWINGTON, N.H. — Colliers has negotiated a 53,664-square-foot, seven-year office lease renewal in Newington, located near the Maine-New Hampshire border. The complex at 100 Arboretum Drive was built in 2004 and spans 127,000 square feet. David Choate and Abigail Bachman, of Colliers represented the tenant, federal benefits administrator FedPoint, in the lease negotiations. Steve Horan represented the landlord, Boston-based Farley White Interests, on an internal basis.
FORT WASHINGTON, PENNSYLVANIA — Locally based design firm Meyer has completed a 5,860-square-foot expansion of the bar and lounge area at the Manufacturers’ Golf & Country Club in Fort Washington, located on the northern outskirts of Philadelphia. The two-story bar and lounge now features enhanced dining and outdoor patio space overlooking the golf course. The renovation also included a new grill area, fire pits, pavers and outdoor lighting, and the interior now houses a new wine room with lockers, as well as new lighting, finishes and millwork surrounding newly installed fireplaces.
JERSEY CITY, N.J. — Urby, a joint venture between Ironstate Development and Brookfield Properties, has topped out a 25-story apartment tower in Jersey City. Rising 265 feet, Journal Square Urby will total 317 units in studio, one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center with a yoga studio, rooftop garden, outdoor grilling and dining areas, a lobby café and a dog park. Dutch architecture firm Concrete and New York City-based HLW designed the project, which is slated for full completion in spring 2024.
WILMINGTON AND NEWARK, DEL. —Life Care Services (LCS) has completed renovations at three seniors housing communities in Delaware: Foulk Living and Shipley Living in Wilmington and Millcroft Living in Newark. Renovations at Foulk Living included upgrades to the lobby, corridors, fitness center and dining room. In addition, Foulk Living’s independent living cottages are being updated as they become available with new kitchen cabinets, countertops, appliances, flooring, paint, blinds and carpeting. Shipley Living received a new roof, updated exterior, porte-cochère and grand entrance. Inside, the lobby, corridors, communal living room, dining room, bistro and bar were all updated. Millcroft Living’s entrance received a new concierge desk and lobby, as well as a new bar/lounge space, renovated dining room and card room and beautified corridors.