NEW YORK CITY — Multiple local news outlets including Curbed New York City and New York Yimby have reported that a partnership between Brookfield Properties and Park Tower Group has opened Eagle + West, a 745-unit apartment community in Brooklyn. The latter publication notes that Eagle + West, which was designed by international architecture firm OMA, is located within the Greenpoint Landing development and comprises two towers that rise between 30 and 40 stories. According to the property website, Eagle + West features studio, one-, two- and three-bedroom units and amenities such as indoor and outdoor pools, a fitness center with yoga and spin studios, terrace with grilling stations, a game room, coworking lounge, catering kitchen and a children’s play area. Rents start at approximately $3,500 per month for a studio apartment.
DOWNINGTOWN, PA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Ashbridge Square, a 386,248-square-foot retail power center in Downingtown, a western suburb of Philadelphia. Built in 2000, Ashbridge Square was 88 percent leased at the time of sale to tenants such as The Home Depot, Ashley Furniture, Dollar Tree, Jo-Ann Fabrics, Christmas Tree Shops, Staples, Chick-fil-A, Patient First and Wine & Spirits. Brad Nathanson of IPA represented the undisclosed seller in the transaction and procured the buyer, a partnership between regional firms E. Kahn Development Corp. and J. Loew & Associates.
NORWALK, CONN. — CBRE has arranged the $48.6 million sale of Reserve41, a 164-unit apartment community located in the southern coastal Connecticut city of Norwalk. Built in 1959 and renovated between 2018 and 2020, the property offers one-, two- and three-bedroom units. Amenities include a pool, playground and landscaped outdoor spaces. Jeff Dunne, Eric Apfel and Stuart MacKenzie of CBRE represented the seller, a partnership led by Connecticut-based real estate investment firm Belpointe, in the transaction. The trio also procured the buyer, New Jersey-based Yellowstone Property Group.
BURNHAM, PA. — Axiom Realty Services, a metro Philadelphia-based investment firm, has acquired Greater Lewistown Plaza, a 177,752-square-foot shopping center in Burnham, located in the central part of the Keystone State. Regional grocer Weis Markets anchors the center, which was 94 percent leased at the time of sale. Other tenants include J.C. Penney, Dunham’s Sports, Geisinger Health and Citizens Bank. Bennett Williams of Bennett Williams Commercial represented the seller, Northpath Investments, in the transaction. The buyer and sales price were not disclosed.
TINTON FALLS, N.J. — Monmouth Medical Center, an affiliate of RWJBarnabas Health, will open a 138,000-square-foot cancer care facility in the Northern New Jersey community of Tinton Falls. The project, which is expected to add about 300 new jobs to the local economy, represents the first phase of redevelopment of the former site of the Myer Center, a Cold War-era industrial facility that was demolished several years ago. Construction of the new facility, which will also offer imaging, radiation and ambulatory surgery services, is set to begin in the first quarter. Plans for Phase II are still being finalized.
NEW YORK CITY — Taconic Capital Advisors has provided a $95 million loan for the refinancing of Martinique New York on Broadway, a 531-room hotel in Midtown Manhattan. The hotel, which is part of Curio Collection by Hilton family of brands, originally opened in 1897 and is a member of the Historic Hotels of America club. Martinique New York on Broadway houses 10 meeting and event spaces that can accommodate more than 400 guests, as well as a fitness center and multiple food-and-beverage establishments. The borrower, Oklahoma City-based Burnett Equities, which acquired the hotel in 2021, plans to use a portion of the proceeds to fund capital improvements.
JACKSON TOWNSHIP, N.J. — Cushman & Wakefield has brokered the sale of an approximately 1 million-square-foot industrial facility located at 515 Monmouth Road in Jackson Township, about 30 miles east of Trenton. The newly constructed complex comprises one cross-dock and one rear-load building that total 617,452 and 383,092 square feet, respectively. Building features include clear heights of 40 feet, 185-foot truck court depths, 713 car parking spaces and 181 trailer parking stalls. Gary Gabriel, Kyle Schmidt, David Bernhaut and Seth Zuidema of Cushman & Wakefield represented the seller, a partnership between Active Acquisitions and Stonecutter Capital, in the transaction. The team also procured Brookfield Properties as the buyer.
PARSIPPANY, N.J. — JLL has negotiated the $88 million sale of 300 Kimball, a 430,000-square-foot office building located in the Northern New Jersey community of Parsippany. Built in 2001 and renovated in 2013, the property sits on a 9.3-acre site within a larger development known as The Center at Morris County and was 87 percent leased at the time of sale. Amenities include a fitness center, tenant lounge, conference center, putting green and golf simulator, walking trails and a cafeteria. Kevin O’Hearn, Jose Cruz, Jeremy Neuer and Peter Kim of JLL represented the seller, Sovereign Partners LLC, in the transaction. The buyer was regional investment firm Signature Acquisitions, which also owns the adjacent building, 100 Kimball.
WILLIAMSPORT, PA. — New Jersey-based First National Realty Partners (FNRP) has acquired Loyal Plaza, a 289,000-square-foot shopping center in Williamsport, located in the northern-central part of the Keystone State. Anchored by a 67,000-square-foot Giant Food Store, the center was approximately 85 percent leased at the time of sale. Other tenants include Hobby Lobby, Planet Fitness, Rite Aid, Advance Auto Parts and BB&T. Colin Behr and Chris Munley of JLL represented the undisclosed seller in the transaction.
SOUTH HACKENSACK, N.J. — I-FE Apparel, the company behind clothing brands such as PJ Mark and Bleecker & Mercer, has signed a 36,165-square-foot industrial lease renewal in South Hackensack, located outside of Manhattan in Northern New Jersey. Stephen Jennings represented the landlord, Alfred Sanzari Enterprises, in the lease negotiations on an internal basis. The representative of the tenant was not disclosed.