NORWOOD, N.J. — Phoenix Aromas & Essential Oils has signed a 79,466-square-foot industrial lease renewal at 355 Chestnut St. in the Northern New Jersey community of Norwood. Owned and developed by Alfred Sanzari Enterprises, the property features six loading docks and a clear height of 20 feet. Mitch Helfman of MRH Real Estate Services represented the tenant in the lease negotiations. Steve Jennings represented the landlord on an internal basis.
SCARSDALE, N.Y. — New York City-based bridge lender Emerald Creek Capital has provided a $9.3 million loan for the refinancing of a 14,225-square-foot office and retail building in Scarsdale, located north of the city. The property was fully leased at the time of the loan closing. Jeff Seidler of Emerald Creek Capital originated the financing. The borrower was not disclosed.
NEW YORK CITY — Avison Young has placed a $210 million loan for the refinancing of a 396-unit apartment building located in the Long Island City area of Queens. The borrower, locally based multifamily developer Rockrose, built the 31-story property in 2007. Amenities include an indoor pool, sauna, fitness center and a game room. Andy Singer and Kathleen McSharry of Avison Young placed the debt through Metlife Investment Management.
ROCHESTER, N.Y. — Apple Cinemas, a provider of luxury moviegoing experiences, will open a movie theater in the upstate New York city of Rochester. The number of screens and opening date were not disclosed. The space spans 27,452 square feet and is located within Pittsford Plaza. Don Mace of Massachusetts-based KeyPoint Partners represented the tenant in the lease negotiations. Apple Cinemas also recently opened two new theaters in the Hartford, Connecticut market, two in New Hampshire and two in Maine. The chain intends to open 100 new venues over the next decade.
NEW YORK CITY — New York City-based brokerage firm Invictus Property Advisors has negotiated the $18 million sale of a 22,500-square-foot industrial building in the Manhattanville area of West Harlem. The sale included the larger site on which the building is situated, which is zoned to support an additional 45,770 square feet of industrial development. Josh Lipton and Andrew Levine of Invictus Property Advisors represented the seller, a local family that had owned the existing building since 1986, in the transaction. The duo also procured the undisclosed buyer.
WELLESLEY, MASS. — Massachusetts-based owner-operator Linear Retail Properties has acquired two commercial assets in Wellesley, a western suburb of Boston, for a combined price of $12.2 million. The first building spans 11,000 square feet of retail, office and residential space, while the second building comprises 6,000 square feet of retail space. Marilyn Santiago of SVN | Parsons Commercial Group represented the undisclosed seller in the transaction.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $5.2 million sale of a 28-unit multifamily building located at 88 E. 111th St. in East Harlem. The property includes two commercial spaces. Victor Sozio, Mark Anderson and Michael Tortorici of Ariel Property Advisors brokered the deal. The buyer and seller were not disclosed.
PHILADELPHIA — Locally based investment firm OneFive Capital has acquired Next LVL, a 281-unit modular housing community in Philadelphia’s University City neighborhood, for $88 million. The seven-story building includes 7,391 square feet of commercial space and 54 underground parking spots. Ken Wellar, Douglas Sitt, Mark Duszak and Corey Lonberger of Rittenhouse Realty Advisors represented the seller and developer, Philadelphia-based Alterra Property Group, in the transaction. The Rittenhouse team also procured OneFive Capital, which plans to rebrand the community as SOLO on Chestnut, as the buyer. ACORE Capital provided acquisition financing.
NEW YORK CITY — IBM has signed a 328,000-square-foot office lease at One Madison Avenue in Manhattan. The tenant will occupy portions of floors two and seven, the entirety of floors eight through 10 and a portion of the ground floor, where IBM will have an exclusive lobby entrance. The lease term is 16 years. Owned by SL Green Realty Corp. (NYSE: SLG), One Madison Avenue houses a 56,000-square-foot Chelsea Piers Fitness; a 13,000-square-foot restaurant; a 10,000-square-foot artisanal food market; a 7,000-square-foot tenant lounge; and a 5,000-square-foot rooftop terrace. Patrick Murphy, Josh Kuriloff and Winston Schromm of Cushman & Wakefield represented IBM in the lease negotiations. Paul Glickman, Alex Chudnoff, Diana Biasotti and Ben Bass of JLL represented SL Green.
PITTSBURGH — Aeroterm, a division of global logistics operator Realterm, will enter into a 30-year ground lease with the Allegheny County Airport Authority to develop a cargo facility at Pittsburgh International Airport. The facility will be situated on an 8.8-acre site and will span between 140,000 and 170,000 square feet. Completion is slated for the second quarter of 2023. More than 250 million pounds of freight passed through the airport in 2021, a 30 percent increase in volume from 2020, according to Aeroterm executives.