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The-Village-at-Tuxedo-Reserve
Build-to-RentDevelopmentLoansNew YorkNortheastSingle-Family Rental

White Oak Provides $46.2M Construction Loan for Build-to-Rent Project in Tuxedo, New York

by Taylor Williams

TUXEDO, N.Y. — White Oak Real Estate Capital has provided a $46.2 million construction loan for a build-to-rent residential project in Tuxedo, located along the New York-New Jersey border. The project, which represents Phase I of The Village at Tuxedo Reserve, will add 93 rental units within the 1,200-acre Tuxedo Reserve master-planned development. Phase I is slated for a fall 2026 completion. Max Ralby led the Newmark team that arranged the debt through White Oak. Related Cos. is developing The Village at Tuxedo Reserve, and Lennar Corp. is the master developer of the larger Tuxedo Reserve community, which is planned to ultimately feature about 1,300 residences.

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WoodBrook-at-Randolph
DevelopmentMultifamilyNew JerseyNortheast

Woodmont, Canoe Brook Begin Leasing 199-Unit Apartment Complex in Randolph, New Jersey

by Taylor Williams

RANDOLPH, N.J. — Woodmont Properties and Canoe Brook Development have begun leasing WoodBrook at Randolph, a 199-unit apartment complex located about 40 miles west of Manhattan in Northern New Jersey. WoodBrook at Randolph consists of a four-story, mid-rise building that houses 97 traditional flats and seven townhome-style buildings that house the remaining 102 residences. Units come in one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center, coworking spaces and a game den with a sports simulator. Construction began in spring 2024. Information on starting rents was not announced.

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Leasing ActivityMassachusettsNortheastRestaurantRetail

PREIT Welcomes Five Tenants to Dartmouth Mall in Massachusetts

by Taylor Williams

DARTMOUTH, MASS. — Pennsylvania Real Estate Investment Trust (PREIT) has welcomed five new tenants to Dartmouth Mall, a 671,000-square-foot regional shopping and dining destination in southeast Massachusetts. Boot Barn will open a 15,000-square-foot store this fall for its first location in the area. Locker Room by Lids expects to open at the end of the month, while Chick-fil-A is planning an outparcel restaurant at the property. Cinnabon and Carvel have already opened. These additions follow the redevelopment of the former Sears space, which is now occupied by Ulta Beauty, Burlington and Aldi.

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Leasing ActivityLife SciencesMassachusettsNortheastOffice

Lantheus Signs 41,000 SF Office, Life Sciences Lease in Bedford, Massachusetts

by Taylor Williams

BEDFORD, MASS. — Lantheus has signed a 41,000-square-foot office and life sciences lease in Bedford, a northwestern suburb of Boston.The provider of diagnostic and therapeutic products and services is taking space at The Core @ Crosby, a nine-building, 592,000-square-foot campus. Cushman & Wakefield represented Lantheus in the lease negotiations. The landlord is a partnership between Boston-based investment firm Anchor Line Partners and Alloy Properties, the national life sciences platform of TPG Real Estate.

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McGregor-Village-Apartments-Wilton-New-York
AcquisitionsMultifamilyNew YorkNortheast

Adirondack Capital Partners Negotiates $30.7M Sale of Apartment Complex in Wilton, New York

by Taylor Williams

WILTON, N.Y. — Regional brokerage firm Adirondack Capital Partners has negotiated the $30.7 million sale of McGregor Village Apartments, a 212-unit multifamily complex in Wilton, about 40 miles north of Albany. McGregor Village offers one- and two-bedroom units and amenities such as a fitness center, clubhouse and a playground. Michael Hunter Coghill and Chad Sinsheimer of Adirondack Capital Partners represented the buyer, New York-based investment firm Elar Group, in the transaction. The seller, Bruce Tanski Construction, was self-represented.

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AcquisitionsNortheastPennsylvaniaRetail

Marcus & Millichap Brokers $10.6M Sale of Metro Pittsburgh Shopping Center

by Taylor Williams

BRIDGEVILLE, PA. — Marcus & Millichap has brokered the $10.6 million sale of The Crossings at South Fayette, a 38,203-square-foot shopping center in Bridgeville, a southwestern suburb of Pittsburgh. The center comprises a freestanding grocery store of anchor tenant ALDI, a drive-thru strip occupied by Starbucks and Chipotle Mexican Grill and a multi-tenant strip that is home to Sola Salon Studios, Jimmy John’s, Elevation Medical Weight Loss, Brentwood Bank and Radiance at Fluhme. Dean Zang and David Crotts of Marcus & Millichap represented the seller, a local family, in the transaction. Zang and Crotts also procured the buyer, San Diego-based investment firm The Niki Group.

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AcquisitionsIndustrialNew JerseyNortheast

Ridgecut Road Buys 5.8-Acre Industrial Outdoor Storage Facility in Fairfield, New Jersey

by Taylor Williams

FAIRFIELD, N.J. — Regional investment firm Ridgecut Road has purchased a 5.8-acre industrial outdoor storage (IOS) facility in the Northern New Jersey community of Fairfield. The property address was not disclosed. The facility features a 35,000-square-foot warehouse and maintenance facility with 26- to 30-foot clear heights and three oversized drive-in doors, as well as a two-story, 10,000-square-foot office building. Nicholas Stefans and Jason Lundy of JLL brokered the sale of the property. Michael Klein, Max Custer and Kevin Badger, also with JLL, arranged an undisclosed amount of acquisition financing for the deal.

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CivicLeasing ActivityNew YorkNortheastOffice

Boys’ Club of New York Signs 33,000 SF Lease in The Bronx

by Taylor Williams

NEW YORK CITY — The Boys’ Club of New York has signed a 25-year, 33,000-square-foot lease in The Bronx. The nonprofit organization will occupy the entire building at 565 Morris Ave., which previously housed an early education center for Sheltering Arms. The space will be retrofitted to feature classrooms for music, arts and media, as well as audio engineering and computer labs and spaces that support athletics and gaming. The new clubhouse will also include a cooking and a hydroponics area. Stephen Powers, Lindsay Ornstein, Alexander Smith, and Chloe Holder of OPEN Impact Real Estate represented The Boys’ Club in the negotiations for the 25-year lease. Jordan Kaplan, Dean Rosenzweig, Jeremy Scholder and Jojo Lewis of CBRE represented the landlord, Bronx Realty Group.

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DelawareLeasing ActivityNortheastOffice

Herbein + Co. Opens 14,000 SF Office in Wilmington, Delaware

by Taylor Williams

WILMINGTON, DEL. — Herbein + Co. Inc. has opened a 14,000-square-foot office in Wilmington. The accounting firm relocated and expanded from a 6,000-square-foot space to Wells Fargo Tower, which according to LoopNet Inc. is a 15-story building that was originally constructed in 1980 and renovated in 2002. The new office is open as of July 21. No third-party brokers were named as being involved in the lease negotiations.

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AcquisitionsData CentersIndustrialLife SciencesNew JerseyNortheast

Newmark Brokers $322M Sale of Data Center, Life Sciences Facility in Kenilworth, New Jersey

by Taylor Williams

KENILWORTH, N.J. — Newmark has brokered the $322 million sale of a facility within the Northeast Science & Technology Center, a 107-acre data center and life sciences campus located in the Northern New Jersey community of Kenilworth. Spanning roughly 2 million square feet and formerly owned and occupied by pharmaceutical company Merck, the campus comprises nine buildings with office, lab and research-and-development space, as well as  a 50-megawatt substation, cogeneration and chiller plants and a central boiler facility. The buyer, New Jersey-based data center owner-operator CoreWeave, committed last fall to a 280,000-square-foot lease and a larger $1.2 billion investment at the property. The seller, a partnership between Onyx Equities and Machine Investment Group, bought the campus in 2023 for $187.5 million with plans to reposition the property into a life sciences and innovation hub. The Newmark deal team included Andrew Warin, Josh King, Brent Mayo, Doug Harmon and Jordan Roeschlaub. Cushman & Wakefield represented the buyer in the transaction.

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