Northeast

Tiffany & Co. Unveils Plans for Redeveloped Flagship Store in Manhattan

by Taylor Williams August 25, 2020

NEW YORK CITY — Luxury jeweler Tiffany & Co. has unveiled plans for the redevelopment of its flagship store at 727 5th Ave. in Manhattan. The top three floors of the 10-story building will be converted from office space into a new exhibition and event space surrounded by a curtain of glass complementing the limestone façade below. That space was originally completed in 1980, and the building itself was originally constructed in 1940. Tiffany has partnered with The Office of Metropolitan Architecture on the project, which is expected to be complete in 2022.

August 25, 2020

Hebronville-Mill-Attleboro-Massachusetts

Loans Massachusetts Multifamily Northeast

MassHousing Provides $17.2M Loan for Acquisition, Renovation of Three Multifamily Assets in Attleboro

by Taylor Williams August 25, 2020

ATTLEBORO, MASS. — MassHousing, an independent public agency that funds affordable housing properties in Massachusetts, has provided a $17.2 million loan for the acquisition and rehabilitation of three multifamily assets in the northern Boston suburb of Attleboro. The properties include the 83-unit Hebronville Mill, the 92-unit Gardner Terrace I and the 52-unit Gardner Terrace II. Each of the communities includes units that are reserved for renters earning less than the area median income. The borrower was Preservation of Affordable Housing, a locally based nonprofit organization.

August 25, 2020

Leasing Activity New Jersey Northeast Office

Cognizant Signs 36,000 SF Office Lease for New Headquarters in Teaneck, New Jersey

by Taylor Williams August 25, 2020

TEANECK, N.J — Multinational corporation Cognizant has signed a 36,000-square-foot office lease at Glenpointe Center East in Teaneck, located northwest of New York City, for its new office headquarters. Glenpointe Center East features a 26,000-square-foot spa and fitness center, as well as a restaurant, wine bar and a lounge. Gregg Najarian and Nate Brzozowski of Savills represented the tenant in the lease negotiations. The landlord, Alfred Sanzari Enterprises, was represented internally.

August 25, 2020

Connecticut Industrial Leasing Activity Northeast

Pearce Commercial Negotiates 4,500 SF Industrial Lease in North Haven, Connecticut

by Taylor Williams August 25, 2020

NORTH HAVEN, CONN. — Locally based brokerage firm Pearce Commercial has negotiated a 4,500-square-foot industrial lease at 355 Sackett Point Road in North Haven. According to LoopNet Inc., the property was built in 1988 and totals 64,000 square feet. Dave Melillo of Pearce Commercial represented the tenant, Greenskies Renewable Energy LLC, and the landlord, 355 Sackett Point Road LLC.

August 25, 2020

Leasing Activity Northeast Pennsylvania

Markward Negotiates 150,000 SF Industrial Sublease in Allentown, Pennsylvania

by Taylor Williams August 24, 2020

ALLENTOWN, PA. — Locally based brokerage firm Markward Group has negotiated a 150,000-square-foot industrial sublease at Iron Run Distribution Center in Allentown. Del Markward and Mike Capobianco of Markward Group, along with Brian Lenahan of Premier Development, represented the sublandlord, True Value, in the lease negotiations. The trio also represented the subtenant, third-party logistics firm ShipHero. Prologis owns the building.

August 24, 2020

Acquisitions New Jersey Northeast Office

Markheim Chalmers Brokers Sale of 33,303 SF Office Portfolio in Berlin, New Jersey

by Taylor Williams August 24, 2020

BERLIN, N.J. — New Jersey-based Markheim Chalmers has brokered the sale of a 33,303-square-foot office portfolio in Berlin, located southeast of Philadelphia. The portfolio spans four buildings and was 89 percent leased at the time of sale. Adam Dembo of Markheim Chalmers represented the seller, Affiliated Management, in the transaction. Dembo also procured the buyer, Taunton Road LLC. The sales price was not disclosed.

August 24, 2020

Healthcare Leasing Activity Life Sciences Northeast Office Pennsylvania

CBRE Arranges Two Life Sciences Leases Totaling 13,067 SF in Blue Bell, Pennsylvania

by Taylor Williams August 24, 2020

BLUE BELL, PA. — CBRE has arranged two life sciences leases totaling 13,067 square feet at PROTECS Innovation Center, a 50,000-square-foot lab and life sciences building in the northern Philadelphia suburb of Blue Bell. Molecular diagnostics firm KorGene committed to 8,259 square feet, and pharmaceutical and biotechnology firm ThirdLaw Technologies inked a deal for 4,808 square feet. Paul Touhey and Cody Lehrer of CBRE represented the landlord, 4 Valley Square Group LP, in the lease negotiations.

August 24, 2020

Acquisitions Multifamily New Jersey Northeast

Marcus & Millichap Brokers $10.9M Sale of Three Multifamily Assets in Jersey City

by Taylor Williams August 24, 2020

JERSEY CITY, N.J. — Marcus & Millichap has brokered the sale of three multifamily assets totaling 66 units in Jersey City, a western suburb of New York City. The sales price was roughly $10.9 million, or $171,000 per unit. Fahri Ozturk, Richard Gatto and David Ferber of Marcus & Millichap handled the transaction. The buyer and seller were not disclosed.

August 24, 2020

Healthcare Leasing Activity Northeast Pennsylvania

Tower Health to Open 4,200 SF Clinic at Bradford Plaza in West Chester, Pennsylvania

by Taylor Williams August 24, 2020

WEST CHESTER, PA. — Tower Health Urgent Care will open a 4,200-square-foot clinic at Bradford Plaza, a 161,000-square-foot retail center located at 700 Downington Pike in West Chester. The grocery-anchored center houses tenants such as Petco, Dollar Tree and Orangetheory Fitness. Sidney Singer of New Jersey-based Levin Management Corp. represented the landlord in the lease negotiations. Michael Reese of Jackson Cross Partners represented the tenant.

August 24, 2020

Loans Multifamily New Jersey Northeast

JLL Arranges $34M Construction Loan for Multifamily Project in North Haledon, New Jersey

by Taylor Williams August 21, 2020

NORTH HALEDON, N.J. — JLL has arranged a $34 million construction loan for the development of a multifamily project at 920 Belmont Ave. in North Haledon, about 30 miles northwest of New York City. The property will total 180 units and offer amenities such as a fitness center, lounge area, coworking space and an outdoor pool and patio area with grilling stations. Jon Mikula and Michael Klein of JLL arranged the financing through Investors Bank on behalf of the borrower, a partnership between Tulfra Real Estate and The Hampshire Companies. Completion is slated for 2021.

August 21, 2020

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