HOBOKEN, N.J. — Cushman & Wakefield has negotiated an 18,603-square-foot office lease at Waterfront Corporate Center I in Hoboken. The 14-story, 566,215-square-foot building is located within a larger, 1.5 million-square-foot complex across the Hudson River from Manhattan. David DeMatteis and Mina Shehata of Cushman & Wakefield represented the tenant, industrial investment firm Faropoint, in the lease negotiations. A partnership between New York City-based developer SJP Properties and private investor David Werner owns Waterfront Corporate Center I.
LOGAN TOWNSHIP, N.J. — Greek Development has received a $50 million permanent loan for Logan North Industrial Park, a 3.2 million-square-foot development in Southern New Jersey. Greek Development, which partnered with Advance Realty Investors on Logan North Industrial Park, is currently underway on the third phase of construction. The transaction allows Greek Development to apply long-term debt to Buildings A and F, which are leased to SEKO Logistics and LaserShip Logistics, respectively. An undisclosed life insurance company provided the financing, which retires the original construction loan from Wells Fargo. Michael Klein, Jim Cadranell, Gregory Nalbandian and Ryan Carroll of JLL arranged the debt.
PERRY, N.Y. — KeyBank has provided $10.6 million in financing for the acquisition and rehabilitation of Silver Lake Meadows, a 52-unit affordable housing complex in Perry, about 50 miles east of Buffalo. Silver Lake Meadows comprises seven buildings that house one- and two-bedroom units that are reserved for renters earning up to 30, 50 and 60 percent of the area median income. John-Paul Vachon and Kate de la Garza of KeyBank originated the financing package, which includes $5.4 million in Low-Income Housing Tax Credit equity and a $5.5 million construction loan. The sponsor is a partnership between locally based nonprofit Wyoming County Community Action Inc. and developer Rochester’s Cornerstone Group.
NEW YORK CITY — Construction consulting firm Metropolis Group Inc. has signed a 12,700-square-foot office sublease at 120 Broadway in Manhattan’s Financial District. Metropolis Group signed a six-year deal to relocate from 22 Cortlandt Street to the 27th floor of the 40-story building, a space that was previously occupied by nonprofit health organization Village Care. Michael Berman of JLL represented Metropolis Group in the lease negotiations. David Lebenstein and Frank Centro of Cushman & Wakefield represented Village Care. Silverstein Properties owns the building.
WANTAGH, N.Y. — The French Workshop has opened a 3,750-square-foot artisanal bakery and café at Willow Wood Shopping Center in the Long Island community of Wantagh. Robert Delavale of the Breslin Realty represented the landlord in the lease negotiations on an internal basis. Cary Fabrikant, also with Breslin Realty, represented the tenant. Other tenants at the center include Starbucks, Petco and Jovia Financial Credit Union.
HAMILTON, N.J. — NAI Fennelly has negotiated the sale of a 3,400-square-foot medical office building in Hamilton, located outside of Trenton in Mercer County. According to LoopNet Inc., the property at 2131 Route 33 was originally built in 1985. Matt Fennelly of NAI Fennelly represented the seller, Advanced Family Dentistry LLC, in the transaction. Stephen Kaplan of Keller Williams represented the buyer, an undisclosed private investor.
JERSEY CITY, N.J. — Veris Residential, the development and investment firm formerly known as Mack-Cali Corp., has completed the lease-up and stabilization of Haus25, a 750-unit apartment tower in the downtown area of Jersey City. When leasing began in spring 2022, monthly rents for a studio apartment started in the low $3000s. The 56-story building is now approximately 93 percent occupied. Designed by Elkus Manfredi Architects with interiors by Fogarty Finger and landscape architecture by Melillo Bauer Carman, Haus25 rises 600 feet and offers studio, one-, two- and three-bedroom floor plans. Residences are furnished with stainless steel appliances, quartz countertops, individual washers and dryers and ecobee smart thermostats. Amenities include a pool, indoor and outdoor fitness areas, chef’s kitchen, grilling stations, an amphitheater, bowling alley, karaoke lounge, game room, golf simulator, children’s playroom, pet spa and a dog run.
MILFORD, CONN. — Pennsylvania-based investment firm Merion Realty Partners has purchased Halstead Milford, a 246-unit apartment community located in southern coastal Connecticut. Virginia-based REIT AvalonBay Communities originally developed the three-story, garden-style property in 2004. Amenities at Halstead Milford include a pool, fitness center, coworking space, game room, outdoor grilling and dining areas and a leasing office. Simon Butler, Biria St. John, Jeff Dunne, John McLaughlin, Eric Apfel, Stuart MacKenzie and Brian Bowler of CBRE represented the seller, an affiliate of The DSF Group, in the transaction. The team also procured Merion Realty Partners as the buyer. The sales price was not disclosed.
IRVINGTON, N.Y. — Marcus & Millichap has brokered the $23.5 million sale of Astor Buck Campus, a 138,000-square-foot office complex in Irvington, about 20 miles north of Manhattan. The three-building property was originally built along the Hudson River in 1895. At the time of sale, Astor Buck Campus was 91 percent leased to 26 tenants in industries such as fashion and design, communications, food service and hydroponic farming. Alan Cafiero, Mark Gjonbalaj and Matt Leszyk of Marcus & Millichap represented the seller, an entity doing business as Stanford Bridge LLC, in the transaction. The team also procured the buyer, Carvi Properties Inc.
CARLSTADT, N.J. — JLL has arranged a $19.5 million acquisition loan for a 109,775-square-foot warehouse and distribution building in the Northern New Jersey community of Carlstadt. The facility at 305 Veterans Blvd. sits on 3.5 acres and features a clear height of 22 feet, six dock-high doors, one drive-in door and 78 parking spaces. Michael Klein, Max Custer and Ryan Carroll of JLL arranged the three-year, floating-rate loan through TriState Capital Bank on behalf of the borrower, Penwood Real Estate Investment Management. The current tenant is in the process of vacating the property, and JLL has also been retained for leasing services.