ROSLYN, N.Y. — Marcus & Millichap has brokered the $33 million sale of Horizon at Roslyn, a 50-unit, age-restricted apartment building in the New York City suburb of Roslyn. The sales price equates to $660,000 per unit. Michael Tuccillo, Anthony Cerrone and Nicholas Tuccillo of Marcus & Millichap represented the seller, Horizon at Roslyn LLC, in the transaction. The trio also procured the buyer, Fairfield Knolls LLC.
MORRISTOWN, N.J. — The Birch Group, a New York-based investment firm, has acquired a portfolio of three office buildings totaling 411,737 square feet in the Northern New Jersey city of Morristown. The sales price was $77 million. The buildings are located at 60 Columbia Drive, 100 Southgate Pkwy. and 1200 Mount Kemble Ave. and were collectively 98 percent leased at the time of sale. Cushman & Wakefield represented the seller, Lincoln Equities Group, in the transaction.
BURLINGTON, N.J. — NAI Mertz has negotiated a 100,170-square-foot industrial lease at 320 Dulty’s Lane in Burlington, located northeast of Philadelphia. The property is situated on 13 acres, spans 280,290 square feet and features 36-foot clear heights. Scott Mertz of NAI Mertz represented the landlord, Denver-based Black Creek Group, in the lease negotiations. The tenant is EBP Supply Solutions, a wholesale distributor of products to the cleaning and foodservice industries.
SALEM AND WILMINGTON, MASS. — Eastern Union has provided $31 million in financing for a pair of skilled nursing facilities totaling 265 beds in Massachusetts. The first property is a 123-bed facility in Salem, and the second is a 142-bed clinic in Wilmington. The overall package was structured with limited recourse, a three-year term, an 85 percent loan-to-value ratio and a floating interest rate. Proceeds will be used to refinance existing debt and fund capital improvements. Nachum Soroka and Jacob Shonland of Eastern Union handled the transaction. The borrower was not disclosed.
MIDDLETOWN, PA. — Marcus & Millichap has brokered the sale of Oak Grove Apartments, a 30-unit multifamily complex in Middletown, a southern suburb of Harrisburg. All units are two-bedrooms. Craig Dunkle and Mher Vartanian of Marcus & Millichap represented the buyer and seller in the transaction. Both parties requested anonymity.
WEST ISLIP, N.Y. — Piazzetta Italian Kitchen & Bar has signed a lease to open a 3,000-square-foot restaurant at a 19,757-square-foot retail center in the Long Island hamlet of West Islip. The center is under construction at 425 Union Blvd. and will house other tenants such as 7-Eleven and Brownstone Coffee. Christopher Mayor and Lawrence Densen of Island Associates Real Estate brokered the lease negotiations. The restaurant will be the chain’s fifth.
NEW YORK — JLL Capital Markets has arranged $393 million in construction financing for a project that will convert a 399,029-square-foot office building at ABC/Disney’s former headquarters building in Manhattan into a life sciences facility with purpose-built research and lab space. The borrower, a partnership controlled by New York City-based developer Taconic Partners and investment firm Nuveen Real Estate, purchased the building at 125 West End Ave. in 2019 for $230 million. With the vacating of the property by its primary tenant, which operated out of the building from 1985 until its lease expired in January of this year, the partnership is set to begin construction. The senior lender on the four-year, floating-rate financing package was a fund backed by Apollo Global Management, while Oaktree Capital Finance also provided mezzanine debt for the project. Evan Pariser and Geoff Goldstein of JLL placed the financing. The 125 West End Ave. building is located less than a quarter-mile from Lincoln Square and is close to the 1, 2 and 3 subway lines as well as West Side Highway. Additionally, the project is situated just 18 miles from the John F. Kennedy International Airport in New York City. The existing building’s specs allow …
LEWISBERRY, PA. — Pet products supplier Chewy Inc. (NYSE: CHWY) has signed a lease to open a 732,000-square-foot distribution center at Goodman Logistics Center Newberry in Lewisberry, located just south of Harrisburg. The opening of the company’s new fulfillment center, which will be its fourth in Pennsylvania, is expected to bring about 400 new jobs to the region. Bart Anderson of CBRE represented the landlord, Goodman Group, in the lease negotiations. A tentative opening date was not released.
BOSTON — A partnership between Lendlease and Ivanhoe Cambridge has acquired land at 60 Guest St. within Boston Landing, a mixed-use destination in the Allston/Brighton area, for the development of a 320,000-square-foot life sciences building. The parcel sold for $67 million. The project will be situated on 1.1 acres, rise nine stories and offer traditional office space in addition to lab and research/development space. SGA Architects is designing the building, construction of which is targeted to begin in June 2022. Coleman Benedict and Kerry Hawkins of JLL represented the seller of the land, NB Development Group, and procured the partnership as the buyer.
SAYREVILLE, N.J. — New York City-based investment firm AMS Acquisitions has sold Gillette Towers, a two-building, 136-unit seniors housing facility in the Northern New Jersey community of Sayreville. In 2019, AMS purchased the property, which then consisted of a single 80-unit building, for $13 million. The company then developed a 56-unit building that is nearing completion, while the original building is now fully leased. The buyer was a partnership between A&RW Properties LLC and its affiliates JYW Holdings LLC and Nadlan Capital Inc.