HACKENSACK, N.J. — Gold Medal Bakery has signed a 23,500-square-foot industrial lease in Hackensack, a northwestern suburb of New York City. The space is located within a 65,700-square-foot warehousing and distribution facility at 215 S. Newman St. The building features two drive-in loading docks and a clear height of 16 feet. The property offers convenient access to the New Jersey Turnpike, Interstate 80 and the Garden State Parkway. The Stro Companies is the owner of the building.
NEW YORK CITY — Ariel Property Advisors has arranged the $2.1 million sale of a 14,737-square-foot multifamily development site on Staten Island. The property is located at 27-31 Wave St. in the Stapleton neighborhood. The buyer, BFC Partners, plans to merge the site with an adjacent 53,422-square-foot lot at 475 Bay St. to construct a mixed-income apartment building. The property offers 167.5 feet of frontage on Wave Street near the Stapleton Waterfront and the Stapleton Staten Island Railway Station. Sean Kelly, Michael Tortorici and John Higgins of Ariel represented BFC Partners in the transaction. The name and representative of the seller were not disclosed.
NEW YORK CITY — Outdoor dining services and in-store retail businesses in New York City are poised to reopen on Monday, June 22, according to a statement issued by New York Gov. Andrew Cuomo on Wednesday, June 17. The region will be the last in the state to enter Phase II of the governor’s reopening plan, which also includes the resumption of office-based jobs and real estate construction and services, as well as operations of barbershops and salons. Businesses including agriculture, curbside and in-store pickup retail, manufacturing and wholesale trade resumed operations in New York City under strict social distancing and sanitation guidelines on June 8. As of June 1, the Center for Disease Control and Prevention reported more than 386,000 cases of the COVID-19 in the state of New York and more than 30,700 deaths.
EASTON, PA. — CBRE has brokered the sale of LogistiCenter at 33, a 475,800-square-foot e-commerce facility in Easton, an eastern suburb of Allentown. Located at 4200 E. Braden Blvd., the facility was constructed in 2016 and features a clear height of 36 feet. The property is located in the Lehigh Valley submarket and offers convenient access to State Route 33 and Interstate 78. Third-party logistics provider Radial Inc. is the sole tenant of the facility. Michael Hines, Brad Ruppel, Brian Fiumara and Lauren Dawicki of CBRE represented the seller, a partnership that included Pacific Coast Capital Partners LLC, in the transaction. The buyer and sales price were not disclosed.
NORTH PROVIDENCE, R.I. — Tryko Partners has acquired Hopkins Manor, a 200-bed skilled nursing facility in North Providence, for $14.5 million. Located on four acres at 610 Smithfield Road, the property provides short-term rehabilitation, long-term, Alzheimer’s and dementia care services, as well as hospice and respite services. Tryko will invest $5 million to renovate the facility, which will be renamed Lincolnwood Rehabilitation & Healthcare Center.
PENNSAUKEN, N.J. — Soloff Realty & Development Inc. has arranged the sale of a 20,000-square-foot retail building in Pennsauken, an eastern suburb of Philadelphia. Located at 7937 S. Crescent Blvd., the freestanding building was constructed in 1985 and offers convenient access to State Route 130. At the time of sale, furniture store Howard Hill was the sole tenant of the building. David Dunkelman of Soloff represented the seller, Shane Properties Inc., in the transaction. A local investment firm purchased the building for an undisclosed price.
NEW YORK CITY — Housing Works, a nonprofit organization that operates thrift shops and book stores in New York City, has signed a 15,315-square-foot lease in the Long Island City submarket of Queens. The company has relocated from its previous space at the Matsil Building to The Anable Building, a 140,000-square-foot property located at 33-02 48th Ave. The new location serves as warehousing and distribution space as well as a call center and office space. Nicholas Farmakis, David Carlos and John Mambrino of Savills represented Housing Works in the lease negotiations. Forrest Mas and Chris Pachios internally represented the building owner, North River Co.
FRANKLIN, N.J. — Canadian developer BentallGreenOak has acquired a 925,000-square-foot industrial facility in Franklin, approximately 50 miles northwest of New York City. Located at 50 Veronica Ave., the facility was fully leased to LG Electronics USA at the time of sale. The building features a clear height of 40 feet, 170 trailer parking spots, 159 dock positions, four drive-in ramps and 394 car spaces. It offers convenient access to the New Jersey Turnpike and Interstate 287. LG Electronics USA signed a seven-year lease of the entire building in April. Gary Gabriel, Andrew Merin and Kyle Schmidt of Cushman & Wakefield represented the seller, a partnership between Crow Holdings Industrial and The Carlyle Group, in the transaction.
BAYONNE, N.J. — KRE Group has opened Bay 151, a 200-unit multifamily community in Bayonne. Located at 151 Centre St., Bay 151 offers studio, one-, two- and three-bedroom floor plans and 10,000 square feet of retail space. The three-building community features 15,000 square feet of indoor and outdoor amenities, including a fitness center, an outdoor deck with dining areas, grilling stations and a swimming pool. Residents also have access to a library and coworking space, a business center and a billiards room with club seating. The property offers convenient access to the Hudson-Bergen transit station. Hudson Projects designed the property.
NEW YORK CITY — Fine arts logistics company Maquette has signed a 47,850-square-foot industrial lease expansion for its headquarters in Queens. The lease expands Maquette’s existing lease to a total of 95,700 square feet. The space is located within the 275,000-square-foot Matsil warehouse and office building at 48-49 35th St. in the Long Island City submarket. Other tenants at the property include Motorola and Ralph Lauren. Forrest Mas and Chris Pachios represented the landlord, North River Co., internally. The lease was negotiated directly with the tenant.