NORTON, MASS. — Locally based developer Condyne Capital Partners is underway on vertical construction of a 60,000-square-foot industrial project in Norton, located about 40 miles south of Boston. The building is situated within Bluestar Business Park. Polar Design Build is handling design and construction of the project, which will feature a clear height of 32 feet, 17 dock doors, one drive-in ramp and 14 trailer parking spaces. Completion is slated for the fourth quarter.
SUMMIT, N.J. — Excell Communications, a provider of network infrastructure for the wireless, fiber and utility industries, has signed a 7,000-square-foot office lease in the Northern New Jersey community of Summit. The two-story building at 44 Middle Ave. is located directly off Route 24 and includes 29 parking spaces. Thomas Ryan of NAI James E. Hanson represented the landlord in the lease negotiations. The representative of the tenant was not disclosed.
NEW YORK CITY — Affinius Capital, which is a partnership between USAA Real Estate and Square Mile Capital Management, has provided a $110 million loan for the refinancing of the 488-room Arlo Midtown hotel in Manhattan. The boutique hotel is located on 38th Street between Eighth and Ninth avenues, adjacent to Times Square, and offers both traditional guestrooms and suites, as well as several onsite food-and-beverage options. The borrower was Quadrum Global, a development and investment firm with offices in New York City and Miami.
HAMBURG, N.Y. — Cushman & Wakefield has arranged the sale of two adjacent retail centers totaling 416,544 square feet in Hamburg, a southern suburb of Buffalo. The first center, BJ’s Plaza, is anchored by BJ’s Wholesale Club and was fully leased to 10 tenants at the time of sale. Home Depot anchors the second property, McKinley Milestrip, which was 94 percent leased to 20 tenants at the time of sale. The centers comprise 176,045 and 240,499 square feet, respectively. Gary Gabriel, David Bernhaut, Brian Whitmer, Frank DiTommaso and Max Helfman of Cushman & Wakefield, in association with Ben Borruso of Pyramid Brokerage Co., represented the seller, a joint venture between DRA Advisors and DLC Management Corp. New York City-based Northpath Investments acquired the properties for an undisclosed price.
NEW YORK CITY — Law firm Wilson Sonsini Goodrich & Rosati has signed a 119,000-square-foot office lease at 31 W. 52nd St., a 768,000-square-foot building in Midtown Manhattan. The lease term is 16.5 years. The firm will occupy floors five through nine, the first four of which are currently occupied by law firm Clifford Chance on a lease that expires in June 2024. The ninth floor is currently vacant. New York City-based Paramout Assets owns the building.
PRINCETON, N.J. — A joint venture between Mountain Development Corp. and Gottesman Real Estate Partners will develop a 38,000-square-foot life sciences project within the Roszel Square campus in Princeton. Building features will include lab-level HVAC systems, a 16-foot clear height, freight elevator, loading dock and a backup generator. The joint venture will market the two-story facility as a build-to-suit. Princeton Property Partners has been appointed as leasing agent.
PHILADELPHIA — A partnership between New York City-based developer The Gotham Organization and locally based REIT Brandywine Realty Trust is nearing completion of Avira, a 326-unit multifamily project in Philadelphia. Residences will be constructed atop the 570,000-square-foot mixed-use building at 3025 JFK Blvd. within Brandywine’s Schuylkill Yards development. Units will come in studio, one- and two-bedroom floor plans and will be housed within the top 18 floors of the building. The property already includes 29,000 square feet of indoor and outdoor amenity space, 9,000 square feet of retail space, 200,000 square feet of office and life sciences space, 120 structured parking spaces and a 7,500-square-foot park. The first residences are expected to be available for occupancy this summer.
UNION, N.J. — Locally based financial intermediary G.S. Wilcox & Co. has arranged a $90 million permanent loan for Sol at Vermella Union, a 309-unit apartment community in Northern New Jersey. The property, which is part of the larger Vermella Union mixed-use development, offers studio, one-, two- and three-bedroom units. Amenities include a pool, fitness center, children’s play area, outdoor grilling and dining stations and a rooftop terrace. Gretchen Wilcox and David Fryer of G.S. Wilcox arranged the seven-year loan through an undisclosed direct lender on behalf of the borrower, Russo Development.
EAST HAMPTON, N.Y. — Cushman & Wakefield has brokered the $22 million sale of a two-story, 5,000-square-foot retail property in the Long Island community of East Hampton. Jordan Sutton, Robert Shapiro, Dan Abbondandolo and Victor Little of Cushman & Wakefield represented the two private investors who sold the asset in the transaction. Luxury retailer Louis Vuitton Moët Hennessy acquired the property, which is currently leased to jewelry and accessories retailer Cartier.
SOUTHAMPTON, N.Y. — Meeting House Lane Medical Practice has signed an 11,778-square-foot healthcare lease renewal in the Long Island community of Southampton. Dan Oliver of Newmark represented the landlord, New York-based BEB Capital, in the lease negotiations. David Leviton of JLL represented the tenant, which has committed to the space for an additional 10 years.