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Northeast

225-Wyman-Waltham
DevelopmentLife SciencesMassachusettsNortheast

Hobbs Brook Delivers 507,000 SF Office, Life Sciences Project in Metro Boston

by Taylor Williams

WALTHAM, MASS. — Hobbs Brook Real Estate has delivered 225 Wyman, a 507,000-square-foot office and life sciences project located in the western Boston suburb of Waltham. The five-story building sits on a six-acre site and features 43,500 square feet of indoor amenity space, as well as outdoor event space. In addition, 225 Wyman offers an onsite parking garage with a covered walkway connector. The property was 96 percent leased at the time of its opening to tenants such as Seqirus, ElevateBio BaseCamp and Pegasystems.

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38-Upton-Drive-Wilmington
DevelopmentIndustrialLoansMassachusettsNortheast

Middlesex Savings Bank Provides $39.1M Construction Loan for Metro Boston Industrial Project

by Taylor Williams

WILMINGTON, MASS. — Middlesex Savings Bank has provided a $39.1 million construction loan for a 214,440-square-foot industrial project in Wilmington, a northern suburb of Boston. The two-building development is scheduled for a January 2023 completion and will feature a clear height of 32 feet, ESFR sprinkler systems and ample car and trailer parking. Brett Paulsrud and Jonathan Schneider of JLL, working with Middlesex’s Nick Giberson, arranged the loan on behalf of the borrower, Boston-based Davis Cos.

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AcquisitionsMultifamilyNew YorkNortheast

Ariel Property Advisors Arranges $11.5M Sale of Two New York City Multifamily Buildings

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $11.5 million sale of two New York City multifamily buildings. The 10-unit building at 246 W. 108th St. on Manhattan’s Upper West Side sold for $5.8 million, and the 11-unit building at 369 W. 126th St. in Harlem sold for $5.7 million. Shimon Shkury, Victor Sozio, Howard Raber and Mark Anderson of Ariel Property Advisors brokered the first deal. Sozio, James Nestor and Evan Hirsch of Ariel negotiated the second transaction. The buyers and sellers were not disclosed.

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Leasing ActivityNew JerseyNortheastOffice

Siemens Signs 65,500 SF Office Lease in Iselin, New Jersey

by Taylor Williams

ISELIN, N.J. — Industrial technology firm Siemens has signed a 65,500-square-foot office lease at 200 Wood Avenue South, an office building located within the Metropark development in the Northern New Jersey community of Iselin. The 270,000-square-foot building features a newly renovated lobby, fitness center, collaborative common areas and landscaped outdoor amenity spaces. Jeff Babikian of CBRE represented Siemens in the lease negotiations. Wes Moore, also with CBRE, represented the landlord, SJP Properties.

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72-Eagle-Rock-Ave.-East-Hanover
DevelopmentMultifamilyNew JerseyNortheast

Kushner Breaks Ground on 265-Unit Multifamily Project in East Hanover, New Jersey

by Taylor Williams

EAST HANOVER, N.J. — Locally based developer Kushner has broken ground on a 265-unit multifamily project in the Northern New Jersey community of East Hanover. The community will feature a mix of one- to three-bedroom residences across four buildings and will include 53 affordable housing units. The amenity package will comprise a pool, grilling stations, outdoor gaming area, fitness center with a yoga studio, theater room, residents-only clubroom, a conference and coworking facilities. Completion is slated for the first quarter of 2025.

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ConnecticutDevelopmentMultifamilyNortheast

Building & Land Technology Completes 180-Unit Apartment Community in Stamford, Connecticut

by Taylor Williams

STAMFORD, CONN. — Connecticut-based developer and private equity firm Building & Land Technology has completed Anthem, a 180-unit apartment community in Stamford’s Harbor Point neighborhood. The waterfront community offers one-, two- and three-bedroom units and amenities such as a pool, fitness center with a yoga studio, meditation center, golf simulator, outdoor kitchens, guest suites and communal workspaces. Rents start at approximately $2,900 per month for a one-bedroom unit.

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539-Route-130-Hamilton-New-Jersey
AcquisitionsIndustrialNew JerseyNortheast

Cushman & Wakefield Arranges Sale of 171,269 SF Industrial Facility in Hamilton, New Jersey

by Taylor Williams

HAMILTON, N.J. — Cushman & Wakefield has arranged the sale of a 171,269-square-foot industrial facility in Hamilton, a suburb of Trenton. Built in 2021, the property is a redevelopment of a shopping center and features a clear height of 36 feet, 40 loading positions, parking for 150 automobiles and trailer storage. Gary Gabriel, Kyle Schmidt and Ryan Larkin of Cushman & Wakefield represented the sellers, Penwood Real Estate Investment Management and Metrix Real Estate Services LLC, in the transaction. Principal Real Estate Investors acquired the property for an undisclosed price.

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AcquisitionsMassachusettsMultifamilyNortheast

Scully Co. Acquires 128-Unit Bixby Apartments in Haverhill, Massachusetts

by Taylor Williams

HAVERHILL, MASS. — Scully Co., a multifamily investment firm based in Pennsylvania, has acquired The Bixby, a 128-unit apartment complex in the northern Boston suburb of Haverhill. The transit-oriented property features studio, one-, two- and three-bedroom units. Amenities include a resident lounge with games and TVs, an entertainment kitchen, 24-hour fitness center, package handling room and a dog park. Adam Dunn and Chris Phaneuf of Berkadia represented the seller, Blackfin Real Estate Investors, in the transaction. Robert Falese, also with Berkadia, originated a $24.4 million Freddie Mac acquisition loan on behalf of Scully Co., which plans to upgrade unit interiors and common areas.

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Leasing ActivityNew YorkNortheastOffice

Prosek Partners Signs 34,000 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Corporate communications and public relations firm Prosek Partners has signed a 34,000-square-foot office lease at 28 East 28th Street in Manhattan’s Midtown South area. The tenant plans to relocate to the 15th floor of the newly renovated building, which houses a Whole Foods Market on the ground floor, from 105 Madison Avenue in the fourth quarter. Barry Zeller, Jonathan Serko and Barry Garfinkle of Cushman & Wakefield represented the tenant in the lease negotiations. Peter Duncan, Matt Coudert and Alex Bermingham represented the landlord, George Comfort & Sons, which owns the building in partnership with Jamestown and Loeb Partners Realty, on an internal basis.

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Inland-Portfolio
AcquisitionsCaliforniaGeorgiaIllinoisMarylandMichiganMidwestMinnesotaNortheastPennsylvaniaRetailSoutheastTexasTop StoriesWestern

JLL Brokers $278M Sale of Eight-Property Grocery-Anchored Retail Portfolio

by Katie Sloan

OAK BROOK, ILL. — JLL’s Capital Markets group has arranged the $278 million sale of an eight-property, grocery-anchored retail portfolio. The buyer was Inland Real Estate Income Trust Inc. The properties were 88.5 percent leased at the time of sale to tenants including Ralphs, Target, Whole Foods Market, Giant, Trader Joe’s, Sprouts Farmers Market, Nordstrom Rack, Starbucks Coffee, Rite Aid and Sierra Trading Post. The properties span 687,000 square feet and include:  Olde Ivy Village, located outside of Atlanta at 4330 East-West Connector in Smyrna, Ga.; Denton Village, located at 4930 Teasley Lane in the Dallas suburb of Denton, Texas; Northpark Square Village, located at 27706-27776 McBean Parkway in the metro Los Angeles community of Valencia, Calif.; Northville Park Place, located at 18771-39869 Traditions Drive in Northville, Mich., outside of Detroit; City Place, located eight miles east of Saint Paul at 205 Radio Drive in Woodbury, Minn.; Rusty Leaf Plaza, located at 2512-2560 E. Chapman Ave. in Orange, Calif.; Lower Makefield Shopping Center, located at 700 Stony Hill Road in Yardley, Pa., outside Philadelphia; and New Town Village, located at 9700 Groffs Mill Drive in the metro Washington, D.C., community of Owings Mills, Md. Bill Moylan, Chris Angelone, Barry Brown, …

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