Northeast

Invesco, Webster Bank Provide $76.8M for Refinancing of Philadelphia Industrial Property

by Taylor Williams September 9, 2022

PHILADELPHIA — Atlanta-based investment management firm Invesco Real Estate and Webster Bank have provided $76.8 million for the refinancing of a 282,737-square-foot industrial property in Philadelphia. DH Property Holdings recently completed the Class A facility, which is a build-to-suit for TJX Cos., the parent company of Marshalls and T.J. Maxx. Building features include a clear height of 53 feet, proximity to Interstates 95 and 76 and ample car and trailer parking. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz and Michael Ianno of Walker & Dunlop arranged the financing.

September 9, 2022

Acquisitions Industrial New Jersey Northeast

Bridge Logistics Properties Buys 170,000 SF Industrial Complex in Northern New Jersey

by Taylor Williams September 9, 2022

LINDEN, N.J. — Bridge Logistics Properties, a subsidiary of national industrial investment firm Bridge Investment Group, has purchased a 170,000-square-foot complex in the Northern New Jersey community of Linden. The two buildings at 3301 and 3351 Tremley Point Road sit on a combined 14.6 acres. The north building is a Class A facility with a clear height of 36 feet that includes cold storage space. The south building is a Class B warehouse with dock-high and grade-level doors. Leo Josephs and Joshua Meisner of Leo Josephs & Co. Inc. brokered the off-market transaction.

September 9, 2022

Loans Multifamily New Jersey Northeast

G.S. Wilcox Arranges $52M Loan for Refinancing of Northern New Jersey Multifamily Asset

by Taylor Williams September 9, 2022

NORTH HALEDON, N.J. — G.S. Wilcox & Co. has arranged a $52 million loan for the refinancing of a 180-unit multifamily asset located in the Northern New Jersey community of North Haledon. The four-building property features amenities such as a pool, pet park, fitness center, clubhouse and an outdoor entertainment area. Gretchen Wilcox, Wesley Wilcox and Al Raymond of G.S. Wilcox arranged the 20-year loan on behalf of the undisclosed borrower. The direct lender was also not disclosed.

September 9, 2022

Leasing Activity Massachusetts Northeast Office

Broadcom Signs 60,000 SF Office Lease Renewal in Andover, Massachusetts

by Taylor Williams September 9, 2022

ANDOVER, MASS. — Global technology firm Broadcom has signed a 60,000-square-foot office lease renewal at 100 Brickstone Square in the northern Boston suburb of Andover. Brickstone Square was originally constructed in 1922 and recently underwent a capital improvement program that delivered expanded café services, a fitness center, onsite bistro, game room and a new outdoor patio and courtyard. Blake Baldwin, Shayne O’Neil and Petra Flynn represented the landlord, KS Partners, in the lease negotiations. John Wilson of CBRE represented the tenant.

September 9, 2022

Leasing Activity Massachusetts Northeast Retail

KeyPoint Partners Negotiates 21,842 SF Retail Lease in Woburn, Massachusetts

by Taylor Williams September 9, 2022

WOBURN, MASS. — Locally based brokerage and advisory firm KeyPoint Partners has negotiated a 21,842-square-foot retail lease at Main Street Shopping Center in Woburn, a northern suburb of Boston. The tenant, Ski Haus, a retailer of outdoor patio furniture and winter sports equipment, will backfill a space previously occupied by AC Moore at the grocery-anchored center. Don Mace of KeyPoint Partners represented the undisclosed landlord in the lease negotiations.

September 9, 2022

Acquisitions Northeast Retail Rhode Island

Atlantic Capital Partners Brokers Sale of 123,061 SF Shopping Center in North Kingstown, Rhode Island

by Taylor Williams September 8, 2022

NORTH KINGSTOWN, R.I. — Atlantic Capital Partners, the capital markets division of Boston-based Atlantic Retail, has brokered the sale of Frenchtown Plaza, a 123,061-square-foot shopping center located south of Providence in North Kingstown. The sales price was $9.5 million. Justin Smith, Chris Peterson, Sam Koonce and Cole Van Gelder of Atlantic Capital Partners represented the undisclosed seller and the buyer, Ocean State Job Lot, which also anchors the center, in the transaction. Other tenants at Frenchtown Plaza include Walgreens and Ace Hardware.

September 8, 2022

Acquisitions Industrial Northeast Pennsylvania

Stan Johnson Co. Arranges Sale of 97,000 SF Industrial Complex in Montgomery, Pennsylvania

by Taylor Williams September 8, 2022

MONTGOMERY, PA. — Oklahoma-based brokerage firm Stan Johnson Co. has arranged the sale of a 97,000-square-foot industrial complex in Montgomery, located about 80 miles southwest of Scranton. The two-building complex, which was originally constructed in 1930 and last renovated in 2020, was fully leased at the time of sale to New York City-based e-commerce firm Priority Bicycles. Tom Georges of Stan Johnson Co. represented the undisclosed seller in the transaction. The buyer was a California-based 1031 exchange investor.

September 8, 2022

Industrial Leasing Activity Massachusetts Northeast

Employment Agency ALKU Signs 75,000 SF Office Lease in Andover, Massachusetts

by Taylor Williams September 8, 2022

ANDOVER, MASS. — Employment agency ALKU has signed a 75,000-square-foot office lease at 100 Brickstone Square in the northern Boston suburb of Andover. Brickstone Square was originally constructed in 1922 and recently underwent a capital improvement program that delivered expanded café services, a fitness center, onsite bistro, game room and a new outdoor patio and courtyard. Blake Baldwin, Shayne O’Neil and Petra Flynn represented the landlord, KS Partners, in the lease negotiations. Joe Doyle of Cresa represented the tenant.

September 8, 2022

Acquisitions Industrial New Jersey Northeast

Realterm Acquires 33,500 SF Industrial Property in Newark

by Taylor Williams September 8, 2022

NEWARK, N.J. — Global investment management firm Realterm has acquired a 33,500-square-foot industrial property located at 74 Avenue L in Newark. The facility sits on a 1.7-acre site near the Port of Newark and features 15 dock-high doors. The seller and sales price were not disclosed. Torsten Thaler, Steve Shoemaker and Tom Tucci at Cushman & Wakefield brokered the deal.

September 8, 2022

Leasing Activity New York Northeast Office

CBRE Negotiates 15,279 SF Office Lease in Midtown Manhattan

by Taylor Williams September 8, 2022

NEW YORK CITY — CBRE has negotiated a 15,279-square-foot office lease at 750 Seventh Avenue, a 36-story office building in Midtown Manhattan that was originally built in 1990. Howard Fiddle, Brett Shannon, Arkady Smolyanky, Evan Fiddle and Jacob Rosenthal of CBRE represented the landlord, an entity doing business as 750 Seventh Ave NY LLC, in the lease negotiations. Matthias Li and Cole Chartash of Cushman & Wakefield represented the tenant, Korean financial institution Shinhan Bank, which will occupy the entire 26th floor.

September 8, 2022

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