NEW BRITAIN, PA. — JLL has brokered the sale of Town Center of New Britain, a 124,262-square-foot shopping center located on the northern outskirts of Philadelphia. Giant Food anchors the center, which was built in 1990 and renovated in 2002. At the time of sale, Town Center of New Britain was 91 percent leased, and other tenants include Rite Aid, Dollar Tree, Verizon Wireless and AutoZone. Christopher Munley, Jim Galbally and Colin Behr of JLL represented the seller, Federal Realty Investment Trust, in the transaction. Milbrook Properties acquired the asset for an undisclosed price.
FAIRFIELD, N.J. — Locally based mortgage banking firm G.S. Wilcox & Co. has arranged a $15 million loan for the refinancing of Madison Corporate Campus, a 350,000-square-foot industrial flex property located in the Northern New Jersey community of Fairfield. David Fryer of G.S. Wilcox arranged the financing through Ohio National Life Insurance Co. The borrower was not disclosed.
KEARNY, N.J. — New York-based BEB Lending has provided a $5 million, 18-month bridge loan for the acquisition of an 87,000-square-foot industrial property in the Northern New Jersey community of Kearny. The building at 244 Duke St. sits on 2.4 acres. Sean Silverbrook led the transaction for BEB Lending, and Mark Brachfeld of Meridian Capital Group arranged the debt. The borrower was not disclosed.
PISCATAWAY, N.J. — BlackRock Realty Advisors has purchased 330 S. Randolphville Road, an approximately 300,000-square-foot industrial facility in the Northern New Jersey community of Piscataway, for $80 million. According to LoopNet Inc., the property was built on 7.9 acres in 1969, renovated in 2021 and features a clear height of 36 feet. At the time of sale, the facility was fully leased to General Plumbing Supply. Matthew Schnurr of Lee & Associates represented BlackRock Realty Advisors in the transaction. The seller was not disclosed.
WOODLAND PARK, N.J. — Amazon has signed a 205,000-square-foot industrial lease in the Northern New Jersey community of Woodland Park. The e-commerce giant will occupy the entirety of the facility at 1150 McBride Ave., which was developed by a partnership between two New Jersey-based firms, Kushner Real Estate Group and The STRO Cos. The property features a clear height of 36 feet, two drive-in doors, 20 loading docks and ample car and trailer parking. Jason Goldman and Andrew Siesman of KBC Advisors represented Amazon in the lease negotiations. Jack Shulman and Elliot Ferris represented the landlord on an internal basis.
GROTON, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Groton Square, a 196,802-square-foot shopping center in southeastern Connecticut. Grocer Stop & Shop, along with Kohl’s, anchors the center, which was built in phases on 18 acres between 1983 and 1989. Other tenants include Panera, Xfinity, PhysicianOne Urgent Care, CosmoProf, Verizon and Moe’s Southwest Grill. Jim Koury of IPA represented the buyer and seller, both of which requested anonymity, in the transaction.
WOBURN, MASS. — Life Care Services (LCS) is nearing completion of The Delaney at The Vale, a seniors housing project in the northern Boston suburb of Woburn. The number of units and development costs were not disclosed. Boston-based architect DiMella Shaffer designed the facility, which is part of The Vale, the master-planned redevelopment of the former Kraft Atlantic Gelatin Facility. The Delaney at The Vale will offer independent living, assisted living and memory care services and is slated to open this summer.
NORTH BERGEN, N.J. — Locally based brokerage firm Redwood Realty Advisors has negotiated the sale of a 24-unit apartment complex in North Bergen, located in Hudson County. The sales price was $2.5 million. The property offers one-bedroom units and was 70 percent occupied at the time of sale. Steven Matovski of Redwood Realty represented the undisclosed seller and unnamed buyer, which plans to implement a value-add program, in the all-cash transaction.
BELLEVILLE, N.J. — Cushman & Wakefield has arranged a $17 million acquisition loan for a 15.3-acre industrial development site in the Northern New Jersey community of Belleville. The borrower, a partnership between Lincoln Equities Group and The Carlyle Group, plans to demolish the site’s existing structures and build two Class A warehouses totaling 204,550 square feet. John Alascio, Chuck Kohaut, T.J. Sullivan and Jason Blankfein of Cushman & Wakefield arranged the loan through ConnectOne Bank on behalf of the developer. A construction timeline was not disclosed.
WALLINGFORD, CONN. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a vacant, 180-bed skilled nursing facility in Wallingford, located approximately midway between Hartford and New Haven. The buyer was a Florida-based developer with local ties to Wallingford. Additional terms of sale, as well as the name and address of the property, were not disclosed.