NEW YORK CITY — St. Francis College, a private Catholic educational institution, will relocate its campus from Brooklyn Heights to The Wheeler, Tishman Speyer’s new building that is situated atop a former Macy’s department store in downtown Brooklyn. Under the terms of the 30-year lease, St. Francis College will occupy 255,091 square feet across the fifth, sixth and seventh floors beginning in September 2022.
BETHANY BEACH, DEL. — Savills Inc. has arranged the sale of the 112-room Bethany Beach Ocean Suites Residence Inn, part of the Marriott family of brands, in coastal Delaware. The oceanfront hotel offers resort-like suites, a full-service spa and five meeting rooms. Marc Magazine and Tom Baker of Savills represented the seller, a partnership by entities doing business as Bethany Boardwalk Group LLC and Bethany Beach Ocean Inn LLC, in the transaction. The buyer was EOS Acquisitions LLC.
BELLEFONT, PA. — Lument has arranged a $35.6 million construction loan for Centre Care Rehabilitation and Wellness Service, a 240-bed skilled nursing facility in Bellefonte, located in the central part of the state. The new facility will replace an existing 240-bed property that was deemed unsuitable for substantial renovations due to its age and location. Miles Kingston of Lument arranged the construction financing through First National Bank on behalf of the borrower, Complete Healthcare Resources Eastern.
BRIDGEWATER, N.J. — Life Care Services (LCS) has completed an $8 million renovation project at Laurel Circle, a seniors housing community in Bridgewater, located between New York City and Philadelphia. The project added a new bistro-style, grab-and-go dining venue; enhanced the wellness and fitness center, salon, main lobby and common areas; and redesigned spaces in The Arbor health center. Laurel Circle features 202 units on 28 acres. Hord Coplan Macht served as the architect and interior designer for the renovation.
WHITE PLAINS, N.Y. — NorthMarq has provided a $5.6 million Freddie Mac loan for the refinancing of Franklin Square Apartments, a 141-unit multifamily asset in White Plains, a northern suburb of New York City. The property was built in 1990 and features one- and two-bedroom units, many of which were recently renovated. Robert Ranieri of NorthMarq originated the 10-year, interest-only loan on behalf of the undisclosed borrower.
NEW YORK CITY — Google will open its first physical retail store in Manhattan this summer, the Mountain View, Calif.-based tech giant said in a blog post yesterday. The store will be located on Google’s campus in the Chelsea neighborhood. At the Google store, customers can browse and buy Google products like Pixel phones, Nest products and Fitbit devices. Tech experts will also be available to troubleshoot issues with devices.
FAIR LAWN, N.J. — Quinlan Development Group LLC has broken ground on a 1,084-unit self-storage facility in Fair Lawn, located across the Hudson River from The Bronx. Upon completion, which is slated for summer 2022, the $17 million facility will have a gross square footage of approximately 123,000 square feet. Bank OZK provided construction financing for the project, which is the fourth self-storage facility that Quinlan has developed from the ground up since 2018.
NEW YORK CITY — Illinois-based CenterPoint Properties has acquired a 145,144-square-foot industrial building in The Bronx. The warehouse sits on 4.8 acres and features 18 dock-high doors and 1.5 acres for parking. In addition, the facility is located near Hunts Point Food Distribution Center, the largest food distribution hub of its kind in the world, according to CenterPoint. The seller and sales price were not disclosed.
HUDSON, MASS. — JLL has negotiated the sale of Center at Hudson, an 85,000-square-foot shopping center in Hudson, about 30 miles west of Boston. A Stop & Shop grocery store anchors the property, which was 96 percent leased at the time of sale. Other tenants include Expo Nails, The Paper Store, Sperry’s Liquors and Eye Care Center. Nat Heald, Chris Angelone and Zach Nitsche of JLL represented the undisclosed seller in the transaction. The buyer was NNM Realty Trust, a regional owner-operator.
SWANSEA, MASS. — Jacobson Properties has brokered the $9.2 million sale of the East Bay Ambulatory Care Building, a 23,072-square-foot healthcare building in Swansea, located in the southern part of the state. The property was fully leased to East Bay Surgery Center, which focuses on ophthalmology, and Steward Saint Anne’s Hospital Center for Pain Management. East Bay Surgery Center Real Estate LLC sold the property to an undisclosed national healthcare real estate firm. Lisa Menin of Jacobson Properties brokered the deal.
