MYSTIC, CONN. — Locally based Lattizorri Development has completed Harbor Heights, a 121-unit luxury apartment community in the coastal Connecticut city of Mystic. The property is part of the Perkins Farm master-planned community and offers one- and two-bedroom units with stainless steel appliances, nickel hardware and granite countertops. Amenities include a pool, outdoor grilling area, fitness center and a dog park. Rents start at $1,600 per month for a one-bedroom unit and $2,100 per month for a two-bedroom unit.
GREENWICH AND DARIEN, CONN. — Axiom Capital Corp. has arranged $8.2 million in permanent financing for two commercial buildings in Greenwich and Darien. One of the properties was built in 1927 and features 13 apartments plus ground-floor retail space. The other building was constructed in 2007 and features office and retail space. Both assets were fully occupied at the time of the loan closing. The borrower was not disclosed.
ELIZABETH, N.J. — NAI Hanson has brokered the sale-leaseback of an 8.2-acre industrial property at 349-369 First St. in Elizabeth, located just south of Newark. The site is located approximately one mile from the Port of New York/New Jersey and three miles from Newark Liberty International Airport. Christopher Todd and Scott Perkins of NAI Hanson represented the buyer, Illinois-based CenterPoint Properties, in the transaction. Marc Imrem, J.D. DeRosa and Colby Moore of Transwestern represented the undisclosed seller.
SEA BRIGHT, N.J. — New Jersey-based Innzen Hospitality has nearly completed the renovation of the BeachWalk Hotel in the coastal city of Sea Bright. The project includes the addition of 37 more rooms for a total of 76, as well as upgrades to the hotel’s amenity spaces. The property also offers 40 dock slips and 80 parking spaces. Life Hospitality will manage the newly renovated hotel.
WHITE PLAINS, N.Y. — Multifamily developer The NRP Group, in partnership with New York-based owner RPW Group, has broken ground on a 303-unit apartment community in White Plains, located north of New York City. The property is being constructed on part of a 70-acre site that formerly housed the world headquarters of IBM, adjacent to a 620,000-square-foot office building that RPW Group owns and operates. Units will come in a mix of one-, two- and three-bedroom units, and amenities will include a pool, fitness center and small workspaces. Completion is slated for early 2022.
WESTWOOD, N.J. — CBRE has negotiated two industrial leases totaling 67,137 square feet at a 120,000-square-foot industrial facility located at 10-50 Charles St. in Westwood, about 30 miles northwest of New York City. Mavi Jeans signed a lease to occupy 42,507 square feet, and print technology firm Digital Lizard inked a deal for 24,630 square feet. Kevin Dudley, Bill Waxman, Nick Klacik and Elli Klapper of CBRE represented the landlord, Treetop Development, in the lease negotiations. Treetop acquired the property, which features 14- to 22-foot clear heights, 127 car parking spaces and 10,000 square feet of office space, in November 2019.
UNIONDALE, N.Y. — Marcus & Millichap has brokered the sale of a 60,896-square-foot retail asset in the Long Island city of Uniondale that is net-leased to grocer ShopRite. The sales price was $19.5 million. Barry Wolfe and Glen Kunofsky of Marcus & Millichap’s Manhattan office represented the undisclosed seller in the transaction. Brad Nathanson of Marcus & Millichap’s Institutional Property Advisors (IPA) division in Philadelphia procured the buyer. Michael Helpern and Christopher Marks in Marcus & Millichap Capital Corporation’s (MMCC) Manhattan office arranged acquisition financing for the buyer through a regional bank.
HOBOKEN, N.J. — New Jersey-based medical marijuana provider Harmony Dispensary will open the first such facility in Hoboken, located across the Hudson River from Manhattan. The dispensary will be located within a 5,000-square-foot building at 95 Hudson St. that previously housed a primary care provider. Jersey City-based Dresdner Robin, the land-use consultant for the project, has completed the revised rezoning requirements for the site. The satellite space is expected to come on line by the end of the year.
FLEMINGTON, N.J. — Flemington Pickleball Club LLC has signed an 11,200-square-foot retail lease at 19 Royal Road in Central New Jersey. According to LoopNet Inc., the property was built on 2.3 acres in 2003 and features 21-foot clear heights. Marc Shein of NAI DiLeo-Bram represented the tenant in the lease negotiations. Pickleball is a cross between tennis, ping-pong and badminton.
BEDFORD, MASS. — Total nonresidential construction starts across the country rose by 3 percent from June to July but remain down by 25 through the first seven months of 2020 relative to that period a year ago, according to the latest report from Massachusetts-based Dodge Data & Analytics. Among nonresidential starts, which clocked in at an aggregate value of $202.6 billion in July, development of warehouses, office and hotels such as the $377 million Hyatt Regency at Salt Lake Convention Center showed the strongest growth from June. Richard Branch, chief economist for Dodge Data & Analytics, stated that positive month-over-month gains in both residential and nonresidential starts was a reflection of gradual improvements in the economy, and cited the Northeast and West as the primary regions that drove growth in nonresidential construction.