WOODBRIDGE, N.J. — R.J. Brunelli & Co. has brokered the sale of a one-acre retail development site in Woodbridge, a southwestern suburb of New York City. Bud’s Hut restaurant occupied the property, which is located at 906 Route 1, for the last 50 years. The buyer, local builder Suburban Development LLC, plans to redevelop the property by constructing a 2,200-square-foot restaurant building with a drive-thru and a separate 3,000-square-foot retail building. John Lenaz of R.J. Brunelli represented Suburban Development in the transaction. Lenaz also represented the seller. The sales price as undisclosed.
NEW YORK CITY — Macy’s Inc. plans to reopen 68 of its approximately 775 stores Monday, after state and federal mandates forced the retailer to temporarily close its stores during the COVID-19 outbreak. The New York City-based retailer plans to open an additional 50 stores on May 11. The department store chain closed all of its stores and furloughed most of its storefront workforce on March 17. The closures also included the company’s subsidiary chains, Bloomingdale’s and Bluemercury, but all three chains have maintained their online services. The newly opened Macy’s stores will offer touch-free consultations and demonstrations of beauty products and will only offer a few fitting rooms at a time, which will be frequently sanitized.
NEW YORK CITY — Marcus & Millichap has brokered the $10.4 million sale of a 5,029-square-foot office and retail asset in the SoHo neighborhood of Manhattan. Located at 52 Greene St., the property features a ground-level retail space and two office units. Matt Fotis and Colton Traynham of Marcus & Millichap represented the seller, a local private owner. The duo also procured the buyer, an international investor.
PROVIDENCE, R.I. — Evans Senior Investments (ESI) has brokered the $4.3 million sale of Elderwood at Riverside, a 57-bed skilled nursing facility in Providence. The property was constructed in 1962. The seller, an East Coast-based owner-operator, initially acquired the asset with the intent to move the licensed beds to a different county in Rhode Island. When regulatory obstacles prevented moving the licensed beds across county lines, the owner decided to exit the property through a sale at approximately $75,000 per bed. At the time of the sale, the property was 89 percent occupied. The buyer was an owner-operator based in the Southeast, and Elderwood is its first property in Rhode Island.
PLAINFIELD, N.J. — Family Dollar has expanded its retail lease to 10,000 square feet in Plainfield, a southwestern suburb of New York City. The retailer previously leased 6,000 square feet in a building located at 227 E. Front St. and will expand by an additional 4,000 square feet into the adjacent former furniture store. Family Dollar also plans to remodel its original space. Danielle Brunelli and Pete Nicholson of R.J. Brunelli & Co. represented Family Dollar in the lease negotiations. The landlord was undisclosed.
NEW YORK CITY — Houlihan-Parnes Realtors LLC has arranged a $3.5 million refinancing loan for a 10,302-square-foot medical office building in The Bronx. Located a 3440-3448 Boston Road, the single-tenant building is leased to a provider of dialysis services. An undisclosed lender provided the nonrecourse loan, which carries a 3.9 percent fixed interest rate for seven years and a 30-year amortization schedule. Ed Graf of Houlihan-Parnes arranged the loan for the undisclosed borrower.
FORT LEE, N.J. — Mack-Cali Realty Corp. has sold One Bridge Plaza, a 206,500-square-foot, Class A office building located in the northern New York City suburb of Fort Lee. The 10-story building was 69 percent leased at the time of the sale. The property offers direct access to the George Washington Bridge and the New Jersey Turnpike. Kevin Welsh, Brian Schulz and Jason Emran of Newmark Knight Frank represented Mack-Cali in the transaction. The team also procured the buyer, a private investor. The sales price was undisclosed.
WEST ORANGE, N.J. — The Kislak Cos. Inc. has brokered the sale of a 48,000-square-foot, Class B medical office building in West Orange, a western suburb of New York City. Located at 622 Eagle Rock Ave., the three-story building was constructed in 1988. JAG One Physical Therapy and Garden State Community Bank are the anchor tenants of the building. The property offers convenient access to State Routes 280 and 287, the Garden State Parkway and the New Jersey Turnpike. Matt Wilheimer of Kislak represented the seller, New York Community Bank, in the transaction. The buyer was 622 Eagle Rock Avenue Realty.
NEW YORK CITY — A partnership between Tavros Capital Partners and Charney Cos. has acquired a 37,000-square-foot development site in the Gowanus neighborhood of Brooklyn for $22.5 million. Located at 251 Douglass St., the property includes an existing 5,000-square-foot structure that is currently vacant. Specific development plans for the site were not disclosed. Stephen Palmese and Brendan Maddigan led a JLL team that represented the seller, The Galinn Fund LLC, in the transaction.
YARDVILLE, N.J. — R.J. Brunelli & Co. has negotiated a 25,067-square-foot retail lease for fitness chain Jersey Strong in Yardville, a southeastern suburb of Trenton. The fitness center will be located within Dover Park Plaza, a 56,000-square-foot retail center at 1-23 Sunnybrae Blvd. Other tenants include a CVS pharmacy and several restaurants. Robert Kwiatkowski of R.J. Brunelli represented Jersey Strong in the lease negotiations. Danielle Brunelli and Peter Miller, also with R.J. Brunelli, represented the landlord.