LOGAN TOWNSHIP, N.J. — Cushman & Wakefield has arranged a $103.4 million construction loan for two new buildings at Logan North Industrial Park, a 3.2 million-square-foot development in Logan Township, located south of Philadelphia. Building E will span approximately 189,000 square feet and is preleased to cold storage operator Preferred Freezer Services. Building H is preleased to Target and is expected to house operations that will create about 1,300 new jobs. Provident Bank provided $34.4 million in construction financing for Building E, and Wells Fargo provided the $69 million loan for Building H. John Alascio, Sri Vankayala, Chuck Kohaut, T.J. Sullivan and Maya Steinberger of Cushman & Wakefield arranged the funds on behalf of the borrower, a partnership between Advance Realty Investors and Greek Development.
NORTH STRABANE TOWNSHIP, PA. — HJ Sims has arranged $29.3 million in financing for the development of Encore on the Lake, an 80-unit independent living community in North Strabane Township, approximately 20 miles southwest of Pittsburgh. Presbyterian Senior Care (PSC) is developing the four-story community, which will target middle-income residents. Partners on the project include Senior Housing Partners, a subsidiary of Presbyterian Homes & Services. The financing comprises $26 million of senior debt financing from First National with a 28-year maturity and $3.3 million of supplemental financing from Washington Financial with a 10-year maturity.
MANAHAWKIN, N.J. — New Jersey-based developer Walters Group Apartments has completed the last of five buildings at Grassy Hollow, a 60-unit affordable housing project in the coastal city of Manahawkin. The property features one-, two- and three-bedroom units ranging in size from 729 to 1,289 square feet for renters earning 60 percent or less of the area median income. Amenities include a fitness center, children’s play area, basketball court and a community clubhouse with computer workstations.
NEW YORK CITY — Polestar, the electric car manufacturing division of Volvo, has signed a lease for a 4,000-square-foot showroom at 5 E. 59th St. in Manhattan. Polestar, which has also opened pop-up showrooms in Los Angeles and San Francisco, will use the space to educate consumers about electric vehicles. Visitors can also schedule test drives and configure their own Polestar vehicle at the showroom’s digital atelier table. Andrew Kahn and Christian Stanton of Cushman & Wakefield represented the landlord, Capstone Equities, in the lease negotiations. Jason Greenstone, also with Cushman & Wakefield, represented Polestar.
MECHANICSBURG, PA. — Pet food provider Nestlé Purina will invest $167 million in the expansion of its manufacturing and distribution facility in Mechanicsburg, located southwest of Harrisburg. The project will add new processing and packaging lines to the operation. Purina, which currently employs about 320 people at this facility, expects to hire about 95 more workers following the completion of the expansion. A construction schedule was not released.
ROCHELLE PARK, N.J. — Locally based development and management firm Tulfra Real Estate has begun construction of an 816-unit self-storage facility within Village Center at Rochelle Park, located northwest of New York City. The facility spans 113,000 gross square feet and is being constructed on a 1.4-acre site that formerly housed an AT&T data center. Mancini Duffy is designing the project, and The Lane Group is the general contractor. Completion is slated for the first quarter of next year.
BRANCHBURG, N.J. — Lollicup USA, a manufacturer and distributor of hospitality and foodservice products, has purchased a 187,500-square-foot industrial facility in Branchburg, about 45 miles west of New York City. J.G. Petrucci Co. developed the facility, which is situated on 18.4 acres and features 31 loading docks, 36-foot clear heights and ample trailer and automobile parking spaces. Joel Lubin and Brian Golden of JLL represented J.G. Petrucci in the sale. Mindy Lissner and David Gheriani of CBRE represented Lollicup USA.
LOGAN TOWNSHIP, N.J. — Logistics firm Champions Services has signed a 151,600-square-foot, full-building industrial lease at 1 Warner Court in Logan Township, located south of Philadelphia. The property is located within Pureland Industrial Park, just off Interstate 295 and near the Ports of Camden (New Jersey) and Philadelphia. Marc Isdaner of Colliers International represented the landlord, Boston-based GFI Partners, in the lease negotiations. Scott Mertz of NAI Mertz represented the tenant.
NEW YORK CITY — Black Bear Capital Partners has arranged $62 million in permanent financing for a portfolio of nine multifamily properties totaling 432 units in The Bronx. Bryan Manz, Rob Serra, Emil DePasquale and Brandon Harris of Black Bear Capital Partners arranged the financing on behalf of the borrower, Finkelstein Timberger East Real Estate, an owner-operator with roughly 3,500 New York City-area units in its portfolio.
NEW YORK CITY — Locally based developer Bespoke Living has topped out 300 West, a 15-story condominium tower located at the corner of 122nd Street and Frederick Douglass Boulevard in South Harlem. Designed by Issac & Stern Architects, the property will feature 170 units in studio, one-, two-, three- and four-bedroom units. Amenities will include a pool, fitness center, a rooftop terrace with outdoor grilling stations, a children’s activity area, package lockers and bike storage space. The development team expects to begin closing sales by the end of the year. Prices start at roughly $500,000.