CHAMBERSBURG, PA. — Sportsman’s Warehouse Holdings Inc. (NASDAQ: SPWH) will open a new store at 3285 Black Gap Road in Chambersburg, located roughly midway between Pittsburgh and Philadelphia in the southern part of the state. A grand opening celebration will take place Thursday, Sept. 24 through Friday, Sept. 26. The store will be the fourth Sportsman’s Warehouse in Pennsylvania and will offer more than 60,000 region-specific items including brand-name hunting, fishing, camping, shooting, apparel and footwear merchandise.
WESTBURY, N.Y. — Bloomingdale’s Furniture will open a 25,000-square-foot store at Samanea Mall in Westbury, located on Long Island, in spring 2021. Matthew Kucker and Jordan Baruch of Colliers International represented the landlord in the lease negotiations. Brian Schuster of Ripco Real Estate represented Bloomingdale’s. Samanea Mall originally opened in 1997 and is currently undergoing a multimillion-dollar renovation.
ROCHESTER, N.Y. — Blueprint Healthcare Real Estate Advisors, a brokerage firm specializing in seniors housing and healthcare assets, has brokered the portfolio sale of two assisted living communities located in the Upstate New York city of Rochester. A REIT sold the communities to a regional investor in an all-cash transaction. Further details were not disclosed.
BOSTON — Boston Financial Investment Management, a subsidiary of Orix Corp. USA, has agreed to acquire Boston Capital’s low-income housing tax credit (LIHTC) fund portfolio. The purchase of Boston Capital’s portfolio will nearly double Orix’s LIHTC platform to $15 billion in funds under management. (Boston Financial and Boston Capital are not affiliated.) Boston Financial is one of the leading syndicators in the LIHTC industry. The firm currently manages a $7.7 billion portfolio comprising more than 1,125 properties and 98,110 units. Boston Financial will service Boston Capital’s assets under management. According to a release from Orix, the firm views the LIHTC business as one that shows projected growth, even during the economic uncertainty of the COVID-19 pandemic. Because rent for LIHTC properties is often below comparable non-tax-credit properties and the government supports many LIHTC residents in the form of rental assistance, Boston Financial has seen occupancy rates remain stable during the pandemic. The closing of the transaction is subject to customary closing conditions and approvals. The acquisition price was not disclosed. Established by Congress in 1986, LIHTC is a tax incentive program designed to promote the supply of affordable rental housing for low-income households. LIHTC syndicators such as Boston Financial and …
NEW YORK CITY — Peloton Interactive Inc. (NASDAQ: PTON), a provider of subscription-based home exercise equipment and routines, reported a 172 percent increase in total revenue during the fourth quarter relative to that period in 2019. With many commercial gyms still operating at reduced capacities and numerous fitness centers at office and apartment buildings still closed, Peloton saw its connected fitness subscriptions and paid digital subscriptions grow by 113 and 210 percent, respectively. The New York City-based company now has a total membership base of more than 3.1 million people. In addition, Peloton operated 95 showrooms across the world at the end of its fiscal fourth quarter, which CNBC reports ended on June 30, up from 74 a year ago.
NEW YORK CITY — RAL Development Services, in partnership with the New York City Economic Development Corp., has topped out Zero Irving, a 240,000-square-foot office building located in the Union Square neighborhood of Manhattan. Designed by Davis Brody Bond, the 21-story building is located at 124 E. 14th St. and will ultimately feature 176,000 square feet of Class A office space and 10,000 square feet of ground-floor retail space that will house a food hall, event space and a fitness center. Completion is scheduled for early 2021.
PHILADELPHIA — California-based Ensemble Real Estate Investments has acquired a trio of life sciences buildings within Philadelphia’s Navy Yard for $83 million. The properties total 366,803 square feet and are occupied by WuXi Advanced Therapies Inc. Ensemble, which has five offices across the country, now owns five life sciences buildings totaling approximately 550,000 square feet within the Navy Yard. The seller(s) was not disclosed.
WAYNE, N.J. — JLL has negotiated the sale of 1 Corporate Drive, an 18,000-square-foot office property located in the Northern New Jersey city of Wayne. The building is situated on 2.7 acres. Frank Recine and Derek DeMartino of JLL represented the seller, USAlliance Financial Federal Credit Union, in the transaction. Philip J. Kreizer & Associates represented the buyer, Retina Center of New Jersey.
QUAKERTOWN, PA. — NAI Summit has arranged the sale of a 7,945-square-foot office building in Quakertown, located in between Philadelphia and Allentown in the Lehigh Valley region. Mike Adams and Mark Magasich of NAI Summit represented the seller, Heather-Jo Inc., in the transaction. Jim Dietrick of Remax represented the buyer, JLKM Property Management.
NEW YORK CITY — SL Green Realty Corp. (NYSE: SLG), a locally based developer and Manhattan’s largest office owner, has opened One Vanderbilt. The $3.3 billion office tower is located across the street from Grand Central Station in Midtown Manhattan. Designed by Kohn Pederson Fox Associates, One Vanderbilt spans 1.7 million square feet. Rising 77 stories and 1,401 feet, it is the tallest commercial building in the Midtown area. CBRE is the leasing agent for One Vanderbilt. SL Green developed the building in partnership with Houston-based Hines and the National Pension Service of Korea, according to the New York Post. The local media outlet also reports that One Vanderbilt is currently 67 percent leased to companies such as TD Securities, Carlyle Group and KPS Capital Partners. SL Green will occupy 70,000 square feet at the building for its new headquarters. Move-ins are scheduled to begin before the end of the year. Asking rents range from $125 to $300 per square foot. SL Green began assembling various tracts on the block between 42nd and 43rd streets and Madison and Vanderbilt avenues for the project more than 20 years ago, the Post reports. As part of the project, SL Green also made …