NEW YORK CITY — MIC Capital Partners has signed an 18,214-square-foot office lease expansion in Midtown Manhattan. The division of Mubadala, a global investment firm and sovereign wealth fund of the government of Abu Dhabi, is renewing and doubling its footprint to 36,428 square feet at the Seagram Building at 375 Park Ave. Justin Aronson of CBRE represented the tenant in the lease negotiations. A.J. Camhi and Paul Milunec represented the landlord, RFR, on an internal basis.
LINDEN, N.J. — Cushman & Wakefield has arranged $300 million in permanent financing for Buildings 300, 400 and 700 within Linden Logistics Center in Northern New Jersey. Linden Logistics Center is a newly completed development that was 94 percent leased at the time of the loan closing to tenants such as Samsung Electronics America, Vanguard Logistics, Fabuwood Cabinetry and OCM Globe. Buildings at the property feature a mix of front-load and cross-dock configurations as well as clear heights of 40 feet. John Alascio, Alex Hernandez, Chuck Kohaut, T.J. Sullivan and Mitch Rothstein of Cushman & Wakefield arranged the fixed-rate debt on behalf of the borrower, a partnership between Advance Realty Investors and Greek Real Estate Partners. The direct lender was not disclosed.
BURLINGTON, MASS. — Newmark has brokered the sale of Burlington BioCenter, a 109,085-square-foot life sciences building located on the northwestern outskirts of Boston. Originally completed in 2019 with its interior laboratory build-outs finalized in 2022, the building features high-performance laboratory infrastructure and HVAC systems, a backup power source and dedicated loading areas, as well as a two-story lobby. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell and William Sleeper of Newmark brokered the deal. The buyer and seller were not disclosed.
MANAHAWKIN, N.J. — New Jersey-based developer Walters has completed the lease-up of Cornerstone at Grassy Hollow II, a 34-unit affordable housing complex located in the coastal city of Manahawkin. Leasing began last fall. The four-building property, which is now fully occupied, offers one-, two- and three-bedroom units that are reserved for renters earning 60 percent or less of the area median income. Physical amenities include a fitness center, children’s play area, basketball court and a clubhouse with a computer workstation. Residents also have access to afterschool programs, special interest clubs and a food pantry program, as well as career readiness, eviction prevention and other social services.
SEAFORD, DEL. — SVN | Miller Commercial Real Estate has negotiated the $4.2 million sale of a 61,900-square-foot industrial building located in Seaford, a city in central Delaware. The new owner is leasing the space at 6063 Whitehurst Drive to its affiliated company, fencing manufacturer Patriot Aluminum. The McClellan Team at SVN | Miller represented the seller in the transaction, and the firm’s Flo Brotzman represented the buyer, an entity doing business as MKJ Properties LLC.
NEW YORK CITY — Starr Insurance has signed a 49,264-square-foot office lease at 1177 Avenue of the Americas in Midtown Manhattan. Starr will occupy the entire seventh and eighth floors of the 47-story, 1 million-square-foot building. John Picco and Alex Lachmund of Cushman & Wakefield represented Starr in the lease negotiations. Lou D’Avanzo, Anthony LoPresti, Peter Kerans and Caroline Collins, also with Cushman & Wakefield, along with internal agent Harlan Strader, represented the landlord, Silverstein Properties.
NEW YORK CITY — Charney Cos. and Tavros have unveiled plans to build 175 Third Street, a 1 million-square-foot apartment tower in Brooklyn’s Gowanus area. The 27-story building will feature more than 1,000 units, approximately 250 of which will be designated as affordable housing. The development cost, including the land purchase, is estimated at roughly $1 billion, according to the New York Post. The project marks the fifth building on four different sites in the new Gowanus Wharf development by Charney and Tavros. Catalyzed by the major Gowanus rezoning in 2021, the new development will feature a public park along the Gowanus Canal. According to a release, the project will contribute to the rehabilitation of the canal while supporting the continued evolution of the industrial Brooklyn neighborhood. Bjarke Ingels Group (BIG) designed the new tower along with dencityworks | architecture. BIG previously completed a design for the same site in 2023 for a different owner. Charney and Tavros purchased the site in May for $160 million. “Our design for 175 Third Street in Gowanus is conceived as a three-dimensional neighborhood of building blocks stacked to frame a central park cascading down toward the canal waterfront,” says Bjarke Ingels, founder and …
By Wick Zimmerman, CEO of Outside the Lines Inc. In the Northeast’s evolving commercial real estate landscape, mall owners and operators are navigating now-familiar headwinds: changing consumer behaviors, declining legacy retail brands and the sustained presence of e-commerce . Yet amid these pressures, a reinvention is underway. Malls are shedding their images as static retail venues and transforming into immersive, tech-enabled destinations — and it’s not traditional retail driving the charge. It’s Gen Z, a digitally native, experience-driven cohort that’s redefining what mall real estate can and should be. This shift presents both a challenge and an opportunity for regional retail stakeholders. The challenge? Retrofitting aging assets to meet evolving demands. The opportunity? Creating diversified, high-traffic destinations that outperform their square footages in terms of both revenue and relevance. From Shopping Centers to Engagement Anchors Once emblematic of suburban retail, malls across the Northeast — from Long Island to greater Boston — are increasingly being reimagined as hybridized spaces that combine shopping, entertainment and community programming. In densely populated, high-barrier markets, where new development is constrained, adaptive reuse initiatives are driving the charge. Class B and C malls, in particular, are being repositioned with new anchors — not department stores, but …
NEW YORK CITY — Tishman Speyer has purchased 148 Lafayette Street, a 12-story office building in Manhattan’s SoHo District, for $105.5 million. Constructed in 1913 and most recently renovated in 2017, the 153,000-square-foot building was fully leased at the time of sale to tenants such as venture capital firm General Catalyst and beauty and cosmetics firm Charlotte Tilbury. The building’s retail space is also fully leased to boxing gym Five Points Academy and clothing store 260 Sample. Adam Spies and Avery Silverstein of Newmark represented the seller, EPIC, an investment firm with offices in New York City and London, in the transaction. Blackstone provided $68.3 million in acquisition financing for the deal.
ROSELLE PARK, N.J. — Greystone has provided an $80 million bridge loan for the refinancing of Meridia Roselle Park 10, a 325-unit apartment community located in the Northern New Jersey borough of Roselle Park. According to Apartments.com, the property offers one- and two-bedroom units that range in size from 582 to 952 square feet. Drew Fletcher and Miryam Reinitz-Kops of Greystone originated the loan, which was structured with a two-year term and a floating interest rate, on behalf of the borrower, Capodagli Property Co.