WOODBURY, N.Y. — Rivian Automotive has signed a 41,000-square-foot industrial lease in the Long Island community of Woodbury. The electric vehicle maker is taking space at Crossways Logistics Center, a newly built, 145,200-square-foot facility, for its first Long Island service center. Nicholas Gallipoli, Frank Frizalone and Thomas DeLuca of Cushman & Wakefield represented the landlord, Rockefeller Group, in the lease negotiations. Roberto Rhett of GoodSpace NYC represented Rivian.
WILMINGTON, DEL. — Drug development and clinical research company QPS will undertake an office and life sciences expansion project within Delaware Technology Park in Wilmington, an initiative that is valued at roughly $16.6 million and is expected to add about 135 new jobs to the local economy. QPS is already the largest tenant within Delaware Technology Park and currently occupies all of the building at 3 Innovation Way and 90 percent of the building at 1 Innovation Way. The company plans to lease an additional 55,515 square feet of space, including more than 15,000 square feet of lab space, in a new building at 6 Innovation Way. QPS currently employs 336 full-time employees in Delaware.
HAMPTON, N.H. — Regional brokerage firm The Stubblebine Co. has arranged the $31.5 million sale of Appleton Oaks, a 113-unit apartment complex in Hampton, located near the Maine-New Hampshire border. The two-building complex was constructed in phases between 2004 and 2005. Specific information on floor plans and amenities was not disclosed. David Berman, James Stubblebine, David Stubblebine and Zack Hardy of The Stubblebine Co. represented the undisclosed seller in the transaction and procured the buyer, Seabrook Real Estate Partners.
GUTTENBERG, N.J. — A joint venture between Black Bear Asset Management, Bettina Equities Management and Echevarria Industries is underway on construction of a 50-unit multifamily project in Guttenberg, located across the Hudson River from Manhattan. The site is located at 416 69th St., and the building will rise seven stories and offer amenities such as a rooftop terrace, solarium lounge, fitness center, indoor garage parking with electric vehicle charging stations and a community center with grills and entertainment space. Completion is slated for 2028.
COHASSET, MASS. — Cushman & Wakefield has arranged a loan of an undisclosed amount for the refinancing of a 35,000-square-foot outpatient medical office building in Cohasset, a southeastern suburb of Boston. The three-story building is known as Cohasset Family Health Center. Tyler Morss of Cushman & Wakefield arranged the loan through an undisclosed bank on behalf of the owner, regional owner-operator Thomas Park Investments.
WELLESLEY, MASS. — Regional owner-operator Grander Capital Partners has completed the redevelopment of a 26,351-square-foot office building in Wellesley, a western suburb of Boston. Grander repositioned the vacant building at 70 Hastings St. to support healthcare uses, introduced new building systems, renovated the lobby and communal areas and upgraded the property’s landscaping. Grander also tapped regional brokerage firm Hunneman to lease the property, which is now 94 percent occupied.
FRANKLIN TOWNSHIP, N.J. — Woodmont Industrial Partners, which is a joint venture between New Jersey-based Woodmont Properties and Romark Logistics, has begun an office-to-industrial conversion project in Franklin Township, about 40 miles south of New York City. Woodmont plans to convert the 30.6-acre site at 400 Atrium Drive, which according to LoopNet Inc. currently houses a 395,000-square-foot office building, into a two-building, 370,000-square-foot industrial complex. Building 1 will be approximately 255,000 square feet and will offer a clear height of 40 feet, 44 loading docks and two drive-in doors. The second, 115,000-square-foot building will feature a clear height of 36 feet, 34 loading docks and two drive-in doors. Woodmont has partnered with an undisclosed life insurance company on the redevelopment and secured construction debt from New York Life that was arranged by John Alascio and Chuck Kohaut of Cushman & Wakefield.
MANCHESTER, CONN. — JLL has brokered the $12 million sale of a 190,646-square-foot distribution center in Manchester, an eastern suburb of Hartford. The site at 100 Sanrico Drive spans 10 acres within Manchester Industrial Park, and the property, which was fully leased at the time of sale, features a clear height of 45 feet and 24 loading positions. Michael Restivo, David Coffman and Ali Howard of JLL represented the seller, regional investment firm SkyREM, in the transaction. Sentry Commercial and Silver Edge Real Estate represented the buyer, B&D Holdings. Max Custer, Amy Lousararian, Thomas Didio Jr. and Christian Badalamenti, also with JLL, arranged a five-year, fixed-rate acquisition loan for the deal through life insurance company Ameritas.
LAKEWOOD, N.J. — Hotels Unlimited, an affiliate of New Jersey-based developer TFE Properties, has completed the $5 million renovation of the 110-room Hilton Garden Inn hotel in Lakewood, located in Ocean County. The renovation delivered an overhaul of all guestrooms and suites, as well as the lobby and amenity spaces, which include meeting rooms, an indoor pool, fitness center and an onsite restaurant. In addition, the project team applied fresh paint to the building’s exterior. A grand re-opening ceremony will take place on Tuesday, May 13.
WEST NEW YORK, N.J. — A joint venture between Black Bear Asset Management, Bettina Equities Management and Echevarria Industries is underway on construction of an 80-unit multifamily project in West New York, located across the Hudson River from Manhattan. The site is located at 6205–19 Madison St., and the building will rise six stories and offer amenities such as a rooftop terrace, solarium lounge, fitness center, indoor garage parking with electric vehicle charging stations and a community center with grills and entertainment space. Completion is slated for some time next year.