FALL RIVER, MASS. — Boston-based investment firm Rhino Capital Advisors has purchased a 200,000-square-foot data center located in the southern Massachusetts city of Fall River. Rhino Capital is acquiring the center in a sale-leaseback deal in which the seller has committed to a new 10-year lease at the newly built property. Brett Paulsrud and Madeline Joyce of JLL arranged a $10.3 million acquisition loan through Cambridge Savings Bank on behalf of the new ownership.
MELVILLE, N.Y. — CBRE has negotiated the $32 million sale of the leasehold interest in a 202,225-square-foot office building located on Long Island in the city of Melville. The property is currently 87 percent leased. Jeff Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Gene Pride, Travis Langer and Philip Heilpern of CBRE represented the seller and building owner, RXR Realty, in the transaction. The team also procured The Feil Organization as the buyer.
NEW HAVEN, CONN. — Marcus & Millichap Capital Corp. has arranged a $4 million loan for the refinancing of a portfolio of 13 multifamily properties totaling 45 units in New Haven. The portfolio was fully occupied at the time of the loan closing. Robert Noeldechen of Marcus & Millichap arranged the loan through CoreVest Finance on behalf of the undisclosed borrower.
SOUTH ANNVILLE, PA. — Hershey Co. will open a 1 million-square-foot warehouse and packaging center in South Annville, a suburb of Harrisburg that is located near the candy manufacturer’s headquarters. According to lebtown.com, which covers Lebanon County, Pa., construction is slated to begin this month, and the project is expected to create as many as 500 new jobs.
NEW YORK CITY — Locally based investment firm Tishman Speyer is expanding its coworking brand Studio with the opening of two new locations at Rockefeller Center’s 1230 Avenue of the Americas and 300 Park Avenue in Manhattan. The space at 1230 Avenue of the Americas spans 110,000 square feet across four floors, and the space at 300 Park Avenue spans 32,000 square feet. Studio features include private offices of varying sizes, videoconferencing facilities, onsite childcare and medical services and virtual wellness and fitness programs. Tishman Speyer first introduced the concept at Rockefeller Center in 2018, achieving full occupancy within the first five months of opening.
MOUNT SINAI, N.Y. — Seniors housing developer and operator Engel Burman has opened The Bristal at Mount Sinai, a 120-unit assisted living community in the Long Island hamlet of Mount Sinai. The Bristal at Mount Sinai has 76 assisted living apartments and 44 additional apartments for memory care. Monthly rents begin at $5,200 for assisted living and $8,400 for memory care. This is the 20th Bristal-branded community, with 15 of those located on Long Island.
NEW YORK CITY — Realtor Keller Williams has subleased 20,000 square feet of office space at 99 Park Avenue in Manhattan from Gould Paper Corp. Helmsley Spear owns the Class A building, which is located between 39th and 40th streets in the Midtown area. Kent Swig, Andrew Simon and Brett Zelner negotiated the sublease for Helmsley Spear on an internal basis. Edward Kalisvaart represented Keller Williams, also on an internal basis. The sublease term runs through December 2023.
RANDOLPH, N.J. — NAI James Hanson has arranged the sale of an 18,729-square-foot industrial building located at 246 S. Salem St. in Randolph, about 40 miles west of New York City. According to LoopNet Inc., the property was built on 3.4 acres in 1952. Jonathan Kristofich and John Schilp of NAI James Hanson represented the seller, a private estate, and procured the buyer, Salem Enterprises LLC.
NEW YORK CITY — Insurance giant American International Group (AIG) will relocate its global headquarters to 1271 Avenue of the Americas, a 48-story office building in Manhattan that was recently redeveloped. The move calls for AIG to consolidate its two regional offices at 28 Liberty St. in Manhattan and 30 Hudson St. in nearby Jersey City. The company plans to take occupancy of its new space, which will span eight floors and 325,000 square feet, in 2021. Rockefeller Group owns 1271 Avenue of the Americas.
MAPLEWOOD, N.J. — JLL has arranged an undisclosed amount of construction financing for a multifamily project that will be located at 104 Baker St. in Maplewood, a western suburb of Newark. The 25,000-square-foot property will feature 11 apartments and 3,500 square feet of retail and parking space. Michael Klein and Max Custer of JLL arranged the loan through Provident Bank on behalf of the borrower, Iron Ore Properties. Completion of the project is scheduled for fall 2021.