EDISON, N.J. — CBRE has negotiated a 346,858-square-foot industrial lease for international logistics firm JW Fulfillment Inc. in the Northern New Jersey city of Edison. The 699,000-square-foot facility at 300 Cedar Lane sits on 50 acres and features 40-foot clear heights, 123 loading docks, 161 trailer parking spaces and 389 car parking spaces. Bill Waxman, Mindy Lissner and Chris Griffith, along with Jimo Liu of Realmart Realty, represented the tenant in its site selection and lease negotiations. Chuck Fern of Cushman & Wakefield represented the landlord.
NORWOOD, MASS. — Newmark has arranged the $105 million sale of One Investors Way, a 54-acre office campus in Norwood, located southwest of Boston. The site houses a 236,566-square-foot office building that is primed for repositioning, as well as land for new development. Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell and Will Sleeper of Newmark represented the seller, a partnership between U.S. Realty Advisors and Bain Capital Real Estate, in the transaction. The buyer was not disclosed.
VALLEY COTTAGE, N.Y. — A joint venture between Los Angeles-based investment firm PCCP LLC and New Jersey-based Lincoln Equities Group has acquired a portfolio of three industrial buildings totaling 260,855 square feet in Valley Cottage, located north of New York City. The sale included a 23-acre neighboring parcel for future development. The properties were built between 2001 and 2007 and were fully leased to 21 tenants at the time of sale. The seller was not disclosed.
WILMINGTON AND METHUEN, MASS. — Locally based investment firm The Davis Cos. has purchased a portfolio of four industrial flex properties totaling 156,276 square feet in Wilmington and Methuen, two northern suburbs of Boston, for $44.2 million. The sale also included a fully entitled development site that can support up to 235,000 square feet of new product. Kerry Hawkins of JLL represented the seller, PGA Realty Co., a family-owned investment firm based in Massachusetts. The portfolio was 100 percent leased at the time of sale.
NEW YORK CITY — A joint venture between development and investment firm Olshan Properties and New York City-based O’Connor Capital Partners has broken ground on Parkchester Gardens, a 221-unit affordable senior living project in the Parkchester area of The Bronx. Units will be reserved for renters earning 50 percent or less of the area median income. Wells Fargo is financing the project in conjunction with the New York City Housing Development Corp. and the Department of Housing Preservation & Development. Completion is slated for the middle of 2023.
STAMFORD, CONN. — A partnership between New York City-based Monday Properties and Neo Capital, an investment advisory firm based in London, has acquired Harbor Landing, a 218-unit multifamily asset in Stamford. The sales price was $73 million. Built in 2018, Harbor Landing features studio, one- and two-bedroom units and amenities such as a pool, fitness center and outdoor grilling areas. Jose Cruz, Steve Simonelli, Michael Oliver, Kevin O’Hearn and Ryan Robertson of JLL represented the seller, a joint venture between Building & Land Technology and Lubert Adler Real Estate Funds, in the transaction. Michael Gigliotti and Peter Rotchford of JLL arranged acquisition financing for the new ownership. Harbor Landing is part of a 14-acre mixed-use community that features two restaurants, a waterfront boardwalk, marinas with slips for yachts and boats and four office buildings, that include 66,314 square feet of newly redeveloped lab space.
NEW YORK CITY — New York-based Fleet Financial Group will develop Eastern Mirage Medical Center, a 104,000-square-foot healthcare facility in the Flushing neighborhood of Queens. The facility will be located within an 18-story building that will also house a 208-room hotel with amenities including a pool, spa, fitness center and meeting rooms. The healthcare facility is slated to open in the third quarter, the same time that Fleet Financial expects to deliver the building.
BOSTON — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $15.8 million sale of a 25,349-square-foot retail space within Vita, a luxury condo building in Boston’s Jamaica Plain neighborhood. The sales price equates to $626.72 per square foot. James Koury of IPA represented the seller, J.P. Property One LLC, in the transaction and procured the undisclosed buyer. The retail space is fully leased to Beth Israel Hospital, Pure Dental, Third Cliff Bakery, The Cooperative Bank and Planet Fitness.
MEDWAY, MASS. — Salmon Health & Retirement has started taking reservations at Salmon at Medway, a 57-acre seniors housing campus in the Boston suburb of Medway. The community will offer cottage and apartment-style independent living together with apartment-style assisted living and memory care. The number of units was not disclosed.
ROSLYN, N.Y. — Locally based developer JK Equities has received approval from the Village of Roslyn, located on Long Island, to proceed with construction of a 54-unit apartment project at 281-301 Warner Ave. The site is zoned for commercial use and currently houses vacant retail space; the new building will also feature retail space on the ground floor. Mojo Stumer Associates is the architect for the project, which will also feature 104 parking spaces. Construction is scheduled to begin in the third quarter and to be complete early in the second quarter of 2023.