SOUTH PLAINFIELD, N.J. — Americold Realty Trust (NYSE: COLD), an Atlanta-based cold storage REIT, has acquired Hall’s Warehouse Corp. of South Plainfield, New Jersey, in a transaction valued at $480 million. The Hall’s Warehouse portfolio consists of eight cold storage facilities totaling 58 million cubic feet and 200,000 pallet positions that are located throughout Northern New Jersey. The portfolio was approximately 95 percent leased at the time of sale. Americold, which also announced the development of an $84 million facility in Arkansas, now owns and operates 185 temperature-controlled warehouses with over 1 billion refrigerated cubic feet of storage throughout five countries.
NEW YORK CITY — Locally based developer Delshah Capital has topped out a 180-unit multifamily project at 22 Chapel St. in Brooklyn that will include 45 affordable housing residences. The 20-story building is being developed in partnership with START Treatment & Recovery Centers, New York’s largest independent drug treatment agency, and will also house 2,000 square feet of retail space and the offices of START. The property will also feature a rooftop pool, fitness center, playground and onsite parking. Locally based general contractor OTL Enterprises is handling construction of the project, which is slated for a late 2021 completion.
WALTHAM, MASS. — Translate Bio, an RNA therapeutics company, has signed a 10-year, 138,000-square-foot life sciences lease at 200 West St. in the western Boston suburb of Waltham. Boston Properties (NYSE: BXP) is currently redeveloping the site into a lab property that is slated for completion in 2021 and that is now 100 percent preleased. Building amenities will include a full-service café, fitness center and conferencing facilities. According to the Boston Business Journal, Translate Bio is working with the vaccine unit of pharmaceutical giant Sanofi to use messenger RNA to synthesize antibodies that can fight COVID-19.
NEW YORK CITY — CBRE has negotiated a 14,116-square-foot office lease at Trinity Centre, a 22-story office building located at 111-115 Broadway in Manhattan’s Financial District. Adam Foster, Mike Rizzo, Brad Gerla and Adam Leshowitz of CBRE represented the landlord, Capital Properties, in the lease negotiations. Patrick Dugan, Frank Liantonio and Jason Kroeger of Cushman & Wakefield represented the tenant, New Jersey-based Investors Bank. Capital Properties recently completed a $45 million capital improvement campaign at the complex that included complete façade restoration, new windows and an LED lighting scheme.
CAMDEN, N.J. — Colliers Mortgage has provided a $5 million Fannie Mae loan for the refinancing of Lake Shore Club Apartments, an 80-unit apartment complex located in the Southern New Jersey city of Camden. The property was built in 1970 and consists of five two-story buildings. Colliers originated the 10-year loan for borrower DBG Gamma Investments LLC.
SOUTH BRUNSWICK, N.J. — A partnership between St. Louis-based developer Sansone Group and a fund backed by Brookfield Asset Management has acquired 85 acres in Northern New Jersey for the development of a 1.3 million-square-foot speculative industrial facility. The property will be located in between the townships of Monroe and South Brunswick and near the Port of Newark. Construction is scheduled to begin in the first quarter of next year and to take a year to complete.
ELIZABETH AND NEWARK, N.J. — Developers Fidelco Realty Group and Elberon Development Group will build a 140,000-square-foot cold storage facility on the Elizabeth-Newark border in Northern New Jersey. The property will be located at the site of the former Magruder Color dye and pigment manufacturing plant, which was vacated in 2006. The 10.5 million-cubic-foot building will include 18 docks and 30,000 pallet positions. New Jersey-based FreezPak Logistics will operate the facility, which is expected to be complete in fall 2021.
NEW YORK CITY — ACRES Capital Corp. has provided a $16 million construction loan for a 53-unit multifamily project that will be located at 653-655 Mace Ave. in the Allerton area of The Bronx. The seven-story building will be located near multiple public transit lines and will feature 15,000 square feet of amenity space. Abe Mann of Progress Capital arranged the loan on behalf of the borrower, Supreme Equities LLC.
BOSTON — Locally based biotechnology firm Ginkgo Bioworks has signed a 38,759-square-foot life sciences lease at 10 Wilson Road in the Cambridge area of Boston. The new space is located within The Quad, a four-building, 510,000-square-foot campus that is being developed in phases by The Davis Companies. McKenna Teague and Erick Smith of CBRE represented the developer in the lease negotiations. Anne Columbia and Patrick Downey of Columbia Group Realty Advisors Inc. represented the tenant.
LOWELL, MASS. — SVN | Parsons Commercial Group | Boston has brokered the sale of a 33,000-square-foot office building located at 81 Bridge St. in Lowell, which is located north of Boston. The sales price was approximately $2.5 million. According to LoopNet Inc., the two-story building was constructed in 1916. Marci Alvarado and Jake Parsons of SVN represented the seller, Bridge Street Business Center LLC, in the transaction. The duo also procured the buyer, Mill Bridge Residential LLC.