ROCKAWAY, N.J. — Casio America has signed a 21,338-square-foot office lease in the Northern New Jersey community of Rockaway. The U.S. subsidiary of the Japanese electronics manufacturer is taking space on the third floor of The Mark, a seven-story, 237,087-square-foot building that was recently renovated. Chris Conklin, Dan Spero and Maria Rubert of JLL represented the landlord, Northbridge Capital, in the lease negotiations. Naoki Yamaguchi of Relo Redac Inc. represented the tenant.
WARWICK, R.I. — Urban Air Adventure Park, an entertainment concept centered on trampolines, has opened a new entertainment venue in Warwick, just south of Providence. The space is located within Cowesett Corners Shopping Center, a grocery-anchored power center, and features climbing walls, obstacle courses and bumper cars. The square footage of the space was not disclosed.
NEW YORK CITY — TS Communities, a division of local real estate giant Tishman Speyer, has received $166 million in financing for a 244-unit affordable housing complex in Queens and plans to break ground later this month. The 18-story building will be located within the Edgemere Commons development in the borough’s Far Rockaway neighborhood and follows TS Communities’ development of a 237-unit building that is nearing completion. Units will come in studio, one-, two- and three-bedroom floor plans and will be reserved for renters earning between 40 and 80 percent of the area median income. In addition, 73 units will be set aside as supportive housing. The building will also feature a resident community room, an outdoor space with an adjoining recreation room, a skydeck, onsite parking and laundry facilities, supportive services offices and street-level retail space. Aufgang Architects is designing the project, which is being developed in partnership with the City of New York, as well as with various state housing agencies. A tentative completion date was not announced.
WEST HARTFORD, CONN. — Locally based brokerage firm Chozick Realty has arranged the $6.3 million sale of a 38-unit apartment building in West Hartford. The building at 415 Prospect St. houses 16 one-bedroom units and 22 two-bedroom units. Rick Chozick of Chozick Realty represented the seller and procured the buyer, both of which requested anonymity, in the transaction. The new ownership plans to implement capital improvements.
SWEDESBORO, N.J. — Locally based investment firm Alterra IOS (industrial outdoor storage) has purchased a 4.9-acre facility located outside of Philadelphia in Swedesboro. The site at 223 Paulsboro Road is located 20 miles from Philadelphia International Airport and 30 miles from the Port of Philadelphia and was fully leased at the time of sale to equipment rental company Sunbelt Rentals. Scott Mertz of NAI Mertz brokered the deal. The seller was not disclosed.
NEW YORK CITY — ShopRite will open a 62,000-square-foot grocery store at Evergreen Plaza in the Great Kills neighborhood of Staten Island. The grocer, which is part of the Wakefern Food Corp. family of brands, is backfilling a space previously occupied by SuperFresh at the 100,000-square-foot center. Joseph Lowry of Levin Management Corp. represented the undisclosed landlord in the lease negotiations. The tenant was self-represented. The opening is slated for the fall.
NEW YORK CITY — Geller & Co. has signed a 45,290-square-foot office lease at 99 Park Avenue in Midtown Manhattan. The financial services and advisory firm will relocate from 909 Third Avenue to the entire 10th floor and a portion of the ninth floor at the 26-story building. Bryan Boisi of Cushman & Wakefield and Stuart Romanoff of Romanoff Realty Services represented the tenant in the lease negotiations. Paul Glickman, Diana Biasotti, Kristen Morgan and Harrison Potter from JLL, along with internal agents Craig Panzirer and Alex Radmin, represented the landlord, Global Holdings.
NEW YORK CITY — A partnership between locally based developer Slate Property Group and RiseBoro Community Partnership has begun leasing a 318-unit affordable housing redevelopment project in Queens. The property, which is known as Baisley Pond Park Residences, is a conversion of the 350-room JFK Hilton Hotel in the borough’s Jamaica neighborhood, which was originally built in 1987 and is located about half a mile from JFK International Airport. The new complex houses studio, one- and two-bedroom units and amenities such as a fitness center, computer lounge and multiple common rooms. Monthly rents will range from $784 for a studio to $1,493 for a two-bedroom apartment. As part of the conversion, the development team replaced all major building and mechanical systems, including new all-electric heating and cooling systems to reduce emissions. Aufgang Architects designed the project, which had a total price tag of about $167 million.
NORTH BRUNSWICK, N.J. — Regional investment firm Taconic Partners has acquired a 360,000-square-foot industrial property in North Brunswick, located roughly midway between Trenton and Newark, for $74.3 million. The site at 1735 Jersey Ave. spans 17 acres, and the building offers a clear height of 24 feet and 24 loading positions. Tenants at the property, which was fully leased at the time of the loan closing, include pallet manufacturer and distributor Kamps Inc. and furniture rental company Luxe Living Design. Jordan Avanzato, Marc Duval, Nicholas Stefans and Jason Lundy of JLL brokered the deal. The seller was not disclosed. Evan Pariser and Aaron Niedermayer, also with JLL, arranged $46.6 million acquisition financing through J.P. Morgan for the deal on behalf of Taconic Partners.
NORWOOD, WOBURN AND BILLERICA, MASS. — JLL has brokered the recapitalization of a portfolio of four industrial flex properties totaling 217,217 square feet in the greater Boston area. The facilities are located in Norwood, Woburn and Billerica and were all fully leased at the time of sale to a combined seven tenants. A fund managed by Berkeley Real Estate Partners previously owned the portfolio and sold the assets to a new joint venture in which Berkeley is the managing member and Invesco Real Estate as an investment partner. Michael Restivo, Andrew Gray and David Coffman of JLL structured the recapitalization on behalf of Berkeley. Brett Paulsrud, Andrew Gray, Hugh Doherty and Ali Howard, also with JLL, arranged acquisition financing for the deal on behalf of Invesco.