Northeast

Woodmont-Liberty-at-Independence

INDEPENDENCE, N.J. — New Jersey-based developer Woodmont Properties has reached 75 percent occupancy at the first phase of Woodmont Liberty at Independence, a 120-unit multifamily project that is located on an 11-acre site about 60 miles west of Manhattan. The property offers one- and two-bedroom units that are furnished with custom-designed kitchens, walk-in closets, keyless entry mechanisms, individual washers and dryers and private balconies/patios. Amenities include a pool, outdoor grilling and dining areas, a fitness center, game room, conference center, walking trails and a dog park. Leasing began in April, at which point rents started at $2,440 per month for a one-bedroom apartment.

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NEW YORK CITY — Five tenants have signed leases for office and showroom space at 1 East 33rd Street, a 160,000-square-foot building in Midtown Manhattan. The tenants are apparel company Q4 Designs (26,504 square feet); pet products provider European Home Designs (13,027 square feet), home furnishings firm Franco Manufacturing (6,894 square feet); Regal Jewelry (13,027 square feet); and Jem International (18,624 square feet). Koeppel Rosen LLC owns the building, which was originally constructed in 1913 and is now fully leased.

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HARRISBURG, PA. — St. John Properties Inc. has unveiled plans for the redevelopment of Harrisburg Mall, a 1 million-square-foot regional mall located in the Swatara Township section of Dauphin County. The company plans to build Swatara Exchange, a mixed-use development consisting of multi-use commercial space and supporting inline retail and retail pad sites. The mall will undergo an extended demolition program that is expected to conclude in 2025. The existing Bass Pro Shops and Applebee’s Grill + Bar restaurant will remain operational, and the former Toys ‘R’ Us building will be marketed for a new use. At full build-out, Swatara Exchange is expected to support up to 1,000 new jobs in its nearly 550,000 square feet of space and contribute approximately $1 million in additional tax revenue annually. Twelve new buildings, including two retail pad sites, will be constructed in total. “When formulating our long-term strategy for Harrisburg Mall, we factored in trends occurring throughout the retail industry, changing consumer shopping patterns, the local real estate landscape and the greater Harrisburg economic climate,” says Lawrence Maykrantz, president and CEO of St. John Properties. The developer plans to build 13,600 square feet of single-story office space and nearly 200,000 square feet …

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Woodmont-Way-at-West-Windsor

WEST WINDSOR, N.J. — JLL has arranged an undisclosed amount of permanent financing for Woodmont Way at West Windsor, a 443-unit apartment community located about 12 miles northeast of Trenton. Completed in 2022, the garden-style property features 13 buildings that house one-, two- and three-bedroom units. Amenities include a clubhouse, pool with a sundeck, resident lounge, golf simulator, fitness center, game den, dog park, pet spa and outdoor courtyards with pickleball courts. Thomas Didio, Thomas Didio Jr., Salvatore Buzzerio and Benjamin Morgenthal of JLL arranged the five-year, fixed-rate loan through Northwestern Mutual. The borrower was New Jersey-based Woodmont Properties.

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WEST ORANGE, N.J. — The Alpert Group LLC has broken ground on a 65-unit affordable seniors housing community in West Orange, approximately 20 miles west of Manhattan. Located at 46 Mount Pleasant Ave., the five-story building will include one- and two-bedroom units, onsite parking, modern amenities and age-friendly features. Five units will be reserved for formerly homeless residents. Completion is slated for late summer 2024. Project partners include the New Jersey Housing & Mortgage Finance Agency, Enterprise Community Partners, TD Bank, Essex County and the Township of West Orange.

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UNION, N.J. — Coldwell Banker Realty New Homes has begun leasing a 43-unit apartment complex in the Northern New Jersey community of Union. The complex is an adaptive reuse of the historic former Union Center Bank facility. Units come in studio and one-bedroom floor plans. Rents start at $1,900 per month for a studio apartment. Nicholas Wong, head of Titan Engineers PC, developed the project.

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NEW YORK CITY — Two healthcare users have signed leases totaling 10,300 square feet at Hutchinson Metro Center in The Bronx. North Bronx Orthopedic & Spine Group has committed to 5,121 square feet, and MJHS Health System has inked a deal for 5,179 square feet. The former was represented internally in the lease negotiations, and Bill Jordan of CBRE represented the latter. Simone Development Co. owns Hutchinson Metro Center.

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MARLTON, N.J. — Norman’s Hallmark has opened a 6,200-square-foot store at Marlton Crossing in Southern New Jersey. The store offers a complete line of Hallmark products, cards and Keepsake Ornaments, as well as apparel, accessories, books, stationery, games, home décor, candy and gourmet foods. Norman’s Hallmark, which operates 75 stores nationwide, also recently opened a 7,280-square-foot store in nearby Plymouth Meeting.

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MANCHESTER, PA. ­— JLL has arranged the $110.2 million sale of a 1 million-square-foot warehouse located at 84 Zions View Road in the Central Pennsylvania community of Manchester. Built on 102 acres in 2019, the cross-dock distribution facility features a clear height of 36 feet, three drive-in doors, 88 dock doors, 126 trailer stalls and 455 parking spaces. John Plower, John Huguenard, Ryan Cottone, Zach Maguire, Jordan Schwartz, Jeff Lockard and Maria Ratzlaff of JLL brokered the deal. The buyer and seller were not disclosed. The building was fully leased at the time of sale.

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Talia-Apartments-Marlborough-Massachusetts

MARLBOROUGH, MASS. — CBRE has brokered the $74 million sale of Talia, a 225-unit apartment complex located in the western Massachusetts suburb of Marlborough. Talia offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include a fitness center, business center, outdoor grilling and dining stations, a pet spa, game room, coffee bar, courtyard and walking/jogging trails. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, a partnership between Fairfield Properties and an unnamed institutional investor, in the transaction. The buyer was a fund advised by regional investment firm The DSF Group.

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