Northeast

Shawmut Breaks Ground on 70,000 SF Academic Building in Worcester, Massachusetts

by Taylor Williams June 7, 2022

WORCESTER, MASS. — Shawmut Design & Construction has broken ground on a 70,000-square-foot academic building at Clark University in the central Massachusetts city of Worcester. The two-wing building will serve as the new center for the media arts, computing and design programs. Design features will include a multimedia gallery, virtual reality lab, video game library for researching interactive media, a makerspace, incubator space, robotics lab, data science lab, a tiered classroom and faculty offices. Completion is slated for next fall.

June 7, 2022

Acquisitions New Jersey Northeast Office

CBRE Negotiates $24.5M Sale of Northern New Jersey Office Complex

by Taylor Williams June 7, 2022

FLORHAM PARK, N.J. — CBRE has negotiated the $24.5 million sale of a two-building, 132,737-square-foot office complex in the Northern New Jersey community of Florham Park. Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Fahri Ozturk, Rich Gatto, Travis Langer and Daniel Blumenkrantz of CBRE represented the seller, The Silverman Group, in the transaction. The team also procured the undisclosed buyer. The complex was fully leased at the time of sale.

June 7, 2022

Acquisitions Industrial New Jersey Northeast

Cushman & Wakefield Brokers $11M Sale of Two Industrial Buildings in Midland Park, New Jersey

by Taylor Williams June 7, 2022

MIDLAND PARK, N.J. — Cushman & Wakefield has brokered the $11 million sale of two industrial buildings totaling 38,500 square feet in the Northern New Jersey community of Midland Park. The properties sit on a combined 3.8 acres and were recently upgraded. Gary Gabriel, Kyle Schmidt and Seth Zuidema represented the seller, VanRock Properties, in the transaction and procured the buyer, Bassen Properties.

June 7, 2022

Company News New Jersey Northeast Office

Colliers Relocates Office in Parsippany, New Jersey

by Taylor Williams June 7, 2022

PARSIPPANY, N.J. — Colliers has relocated its office in the Northern New Jersey community of Parsippany. The space spans 7,500 square feet and is located within Northpoint, a 225,000-square-foot development that is owned by Vision Real Estate Partners. The building underwent a multimillion-dollar renovation program in 2020. Colliers employs some 50 brokers and 25 dozen support team members across its four New Jersey offices.

June 7, 2022

Acquisitions Affordable Housing Multifamily New Jersey Northeast

Greystone Provides $74.3M in Agency Financing for Newark Affordable Housing Portfolio

by Taylor Williams June 6, 2022

NEWARK, N.J. — Greystone has provided $74.3 million in Fannie Mae financing for a portfolio of 17 affordable housing properties totaling 574 units in Newark. The financing comprises five separate loans, all of which carry 10-year terms and 30-year amortization schedules. The properties range in size from nine to 108 units. Some of the assets are reserved for renters earning 60 percent or less of the area median income (AMI), while others feature an income restriction threshold of 80 percent of AMI. Hope Curtis of Greystone originated the financing. The borrower(s) were not disclosed.

June 6, 2022

Industrial Leasing Activity Massachusetts Northeast

Ambri Signs 140,000 SF Build-to-Suit Industrial Lease in Milford, Massachusetts

by Taylor Williams June 6, 2022

MILFORD, MASS. — Ambri, a provider of renewable energy storage solutions, has signed a 140,000-square-foot lease to open a build-to-suit manufacturing facility in Milford, located in the southern central part of the state. The facility will be located within Quarry Square, a retail center that is being redeveloped into an industrial flex property. Steve Clancy and Danielle Simbliaris of CBRE represented the landlord, R.J. Kelly, in the lease negotiations. Chris Scott of Dallas-based Lincoln Property Co. represented the tenant.

June 6, 2022

Acquisitions Industrial New Jersey Northeast

CenterPoint Acquires 57,731 SF Industrial Building in Fairfield, New Jersey

by Taylor Williams June 6, 2022

FAIRFIELD, N.J. — Chicago-based investment firm CenterPoint Properties has acquired a 57,731-square-foot industrial building in the Northern New Jersey community of Fairfield. The undisclosed tenant will continue to lease back the space, which is situated on a 4.3-acre site. Eric Lewin and Joe Manganaro of Team Resources brokered the deal, which traded off-market.

June 6, 2022

Acquisitions New Jersey Northeast Retail

Jeffery Realty Arranges Sale of 30,000 SF Shopping Center in Willingboro, New Jersey

by Taylor Williams June 6, 2022

WILLINGBORO, N.J. — New Jersey-based brokerage firm Jeffery Realty has arranged the sale of Willingboro Town Center, a 30,000-square-foot shopping center in Southern New Jersey. The property was built in 2006 and is located at 4376 Route 130. Shane Wierks of Jeffery Realty represented the undisclosed seller and procured the buyer, a private investor, in the transaction.

June 6, 2022

Leasing Activity Northeast Pennsylvania Retail

Planet Fitness to Open 16,369 SF Gym in Matamoras, Pennsylvania

by Taylor Williams June 6, 2022

MATAMORAS, PA. — Planet Fitness will open a 16,369-square-foot gym at Westfall Town Center, a 115,360-square-foot shopping center in Matamoras, located near the confluence of the New Jersey-New York-Pennsylvania border. The opening is slated for this fall. A 73,000-square-foot ShopRite grocery store anchors the center. Derek Zerfass and Scott Horner of Colliers represented the landlord, Chicago-based CenterPoint Properties, in the lease negotiations. Royal Properties represented the tenant.

June 6, 2022

Acquisitions Industrial Massachusetts Northeast

Newmark Brokers Sale of 295,602 SF Industrial Portfolio in Metro Boston

by Taylor Williams June 3, 2022

RANDOLPH, STOUGHTON AND FOXBOROUGH, MASS. — Newmark has brokered the sale of a portfolio of five industrial facilities totaling 295,602 square feet that are situated on the southern outskirts of Boston. Three of the facilities are located in Randolph, one is in Stoughton and one is located in Foxborough. At the time of sale, the portfolio was 75 percent leased to nine tenants. Robert Griffin, Edward Maher, Matthew Pullen, Tony Coskren, Brian Pinch, Samantha Hallowell and Allie Percoco of Newmark represented the seller, a partnership between Wheelock Street Capital and The Seyon Group, in the transaction. The team also procured the buyer, Ares Management.

June 3, 2022

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