Northeast

Amaya-Suffolk-Downs-Revere

REVERE, MASS. — Ullico, a Washington, D.C.-based insurance company, has provided a $150 million construction loan for Amaya, a 475-unit multifamily project that will be located in the northeastern Boston suburb of Revere. Designed by ICON Architecture, the project is part of the 16.2 million-square-foot redevelopment of the former Suffolk Downs racetrack and will house 24,000 square feet of ground-floor retail space. Amenities will include a pool, landscaped courtyards, an outdoor kitchen with grilling stations, fitness center and a game room with an arcade. Completion is slated for the second quarter of 2024. The borrower was a partnership between National Real Estate Advisors, Cathexis and The HYM Investment Group.

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MIDDLETOWN, PA. — Endurance Real Estate has completed construction of Middletown Logistics Center, a 251,200-square-foot industrial project located on the southeastern outskirts of Harrisburg. The Pennsylvania-based developer also signed industrial products manufacturer IPEX USA to a full-building lease at the property. Jeff Lockard, Jason Webb, Maria Ratzlaff and Ryan Barros of JLL represented Endurance in the lease negotiations. Sean Bleiler of CBRE represented the tenant. Middletown Logistics Center features clear heights of 36 feet, 33 trailer stalls and 102 car parking spaces.

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FITCHBURG, MASS. — Atlantic Capital Partners, a division of Boston-based Atlantic Retail, has arranged the sale of John Fitch Plaza, a 186,809-square-foot retail center in Fitchburg, located in the northern-central part of the state. Anchored by Cinema World and The Paper Store, the property was 79 percent leased at the time of sale. Justin Smith, Chris Peterson, Sam Koonce and Cole Van Gelder represented the buyer and seller, both of which requested anonymity, in the transaction.

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OCEANPORT, N.J. — MGT Foods, a New Jersey-based food manufacturer and distributor, has signed a 19,567-square-foot industrial lease at The Commissary at Baseline in the coastal community of Oceanport. Owned by Denholtz Properties, The Commissary at Baseline is a redevelopment of the historic Fort Monmouth site. MGT Foods will be the second tenant at the property, following Birdsmouth Beer, which will open a craft brewery this fall.

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PHILADELPHIA — Without A Cue, an entertainment concept that centers on dinner theaters and murder mysteries, will open a 3,346-square-foot venue in Philadelphia. The space will be located within The Curtis, a 912,245-square-foot adaptive reuse building in Washington Square West that is owned by Keystone Development + Investment. Veronica Blum and Alex Snyder of MPN Realty represented Keystone in the lease negotiations. Joe Scarpone, also with MPN Realty, represented Without A Cue, which will open in late fall.

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EAST GREENBUSH, N.Y. — Commercial finance and advisory firm Axiom Capital Corp. has arranged a $13.3 million permanent loan for the refinancing of a retail center in East Greenbush, roughly six miles southeast of Albany. The 301,894-square-foot property comprises six separate buildings and was leased to 16 tenants at the time of the loan closing. The names of the borrower, a development and management firm, and direct lender, a local bank, were not disclosed.

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NEW YORK CITY — Locally based brokerage firm Rosewood Realty Group has negotiated the $6 million sale of an 18-unit apartment building in Harlem. The four-story building at 61-63 E. 125th St. was originally constructed in 1930. Aaron Jungreis, Ben Khakshoor and Alex Fuchs of Rosewood Realty represented the buyer, Sapphire Investments, and the seller, Madison Realty Capital, in the transaction. The deal traded at a cap rate of 5.5 percent.

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NEW YORK CITY — Global alternative asset manager Blue Owl Capital has signed a 137,660-square-foot office lease at 375 Park Avenue, a 38-story building in Manhattan. Known as The Seagram Building, 375 Park Avenue’s crowning amenity is a $25 million wellness center known as The Playground that houses an array of fitness facilities. Mark Weiss of Cushman & Wakefield represented the tenant in the lease negotiations. Peter Riguardi, Paul Glickman, Cynthia Wasserberger and Ben Bass of JLL represented the landlord, RFR Realty.

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151-Tornillo-Way-Tinton-Falls-New-Jersey

TINTON FALLS, N.J. — New Jersey-based Denholtz Properties has refinanced two industrial facilities located in the Northern New Jersey community of Tinton Falls. The newly constructed properties at 150 and 151 Tornillo Way total 50,923 square feet and were 100 percent leased to five tenants at the time of the loan closing. Michael Klein, Jon Mikula and Michael Lachs of JLL arranged the fixed-rate financing, the amount of which was not disclosed, through Spencer Savings Bank on behalf of Denholtz Properties.

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FRANKLIN SQUARE, N.Y. — Locally based grocer and caterer Holiday Farms Supermarket has opened a 20,000-square-foot store in the Long Island community of Franklin Square. Holiday Farms, which now operates six stores, occupies a space at Franklin Plaza that was previously leased to grocer King Kullen. Other tenants at the center include Rite Aid, Greek Xpress, Baskin-Robbins, Memory Nails and Olivetto Pizzeria. Cary Fabrikant of Breslin Realty represented the tenant in the lease negotiations. Robert Delavale, also with Breslin Realty, represented the undisclosed landlord.

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