Northeast

First National Bank to Anchor Pittsburgh Mixed-Use Development With 160,000 SF Headquarters

by Alex Patton December 16, 2019

PITTSBURGH — The parent company of First National Bank (FNB) has signed a 160,000-square-foot office lease to open its corporate headquarters at the upcoming FNB Financial Center development in downtown Pittsburgh. The development will feature a 24-story tower with 387,000 square feet of Class A office space, 20,000 square feet of retail space and a two-story parking structure. The FNB headquarters will anchor the tower and its technology branch will occupy 2,000 square feet of retail space. The tower will be situated on the site of the former Civic Arena, home of the Pittsburgh Penguins hockey team, which will comprise multiple structures and over 1 million square feet of office, residential, retail and green space. Buccini/Pollin Group and the Penguins are co-developers of the mixed-use development, which is slated for completion in 2022.

December 16, 2019

Acquisitions Industrial Northeast Rhode Island Self-Storage

Marcus & Millichap Arranges Sale of 458-Unit Self-Storage Facility in Central Falls, Rhode Island

by Alex Patton December 16, 2019

CENTRAL FALLS, R.I. — Marcus & Millichap has arranged the sale of RI Self Storage, a 458-unit facility in Central Falls, a northern suburb of Providence. Located at 817 Dexter St., the facility comprises 316 climate-controlled units, 142 non-climate-controlled units and three office and warehouse spaces totaling 37,826 net rentable square feet. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, an undisclosed private investor. Nathan Coe and Hatcher also represented the buyer, a limited liability company.

December 16, 2019

Connecticut Leasing Activity Northeast Office

British Beverage Company Signs 40,000 SF Office Lease in Stamford, Connecticut

by Alex Patton December 16, 2019

STAMFORD, CONN. — British alcoholic beverage provider Diageo has signed a 40,000-square-foot office lease in Stamford. Diageo produces more than 200 alcoholic beverage brands, including Crown Royal whiskey, Smirnoff vodka, Captain Morgan rum, Bailey’s Irish liqueur, Don Julio tequila and Guinness stout. The new office, located at 200 Elm St., will house research and development teams as well as finance, human resources and supply services. Building and Land Technology is the landlord of the property. Earlier this year, the company signed an 87,000-square-foot lease for its new North American corporate office at 3 World Trade Center in Manhattan. Diageo plans to take occupancy of both spaces in early 2020.

December 16, 2019

Development New York Northeast Retail

Convene to Open 73,000 SF Event Venue at Brookfield Place in Manhattan

by Alex Patton December 16, 2019

NEW YORK CITY — Flex and meeting-space provider Convene has opened a 73,000-square-foot event venue at Brookfield Place, an office and retail center in Manhattan. Commonly referred to as the World Financial Center, Brookfield Place is situated across the street from the World Trade Center and houses numerous retail, restaurant and entertainment tenants. Convene’s new event space is located at 225 Liberty St., backfills the vacant Saks Fifth Avenue store and contains two large event spaces with capacity for 500 people each, as well as a coffee shop and café. Brookfield Properties is the landlord.

December 16, 2019

Development Multifamily New York Northeast

Ariel Property Advisors Brokers Sale of 16,500 SF Residential Development Site in Brooklyn

by Alex Patton December 16, 2019

NEW YORK CITY — Ariel Property Advisors has brokered the $3.3 million sale of 99-103 Grove Street, a 16,500-square-foot development site in the Bushwick neighborhood of Brooklyn. The site is zoned for residential construction and offers close access to several transportation nodes, including the J, L and M subway lines. The Buren café and Sunrise Sunset wine bar are also located nearby. Sean Kelly, Shimon Shkury and David Khukhashvili of Ariel represented the seller, Brookland Capital, in the transaction. The team also procured the buyer, which was undisclosed.

December 16, 2019

Acquisitions Massachusetts Multifamily Northeast

CBRE Arranges $55M Sale of Apartment Community in Walpole, Massachusetts

by Alex Patton December 13, 2019

WALPOLE, MASS. — CBRE has arranged the $55 million sale of Alta Easterly, a 157-unit apartment community in Walpole, located approximately 20 miles southwest of Boston. The property, now rebranded Audubon Easterly, comprises 57 one-bedroom units, eight one-bedroom units with dens and 92 two-bedroom units. The community was delivered in 2018 and is located at 1100 Cricket Lane. Simon Butler and Biria St. John of CBRE procured the buyer, Audubon Capital, in the transaction. The CBRE team also represented the undisclosed seller.

December 13, 2019

Acquisitions Massachusetts Multifamily New Jersey Northeast Seniors Housing

Harrison Street Acquires 11-Property Seniors Housing Portfolio in Massachusetts, New Jersey and Maryland

by Alex Patton December 13, 2019

NEW JERSEY AND MASSACHUSETTS — Harrison Street, a Chicago-based alternative asset investment firm, has acquired a portfolio of 11 seniors housing properties managed by Brightview Senior Living located throughout New Jersey, Massachusetts and Maryland. The portfolio totals 1,322 units. The New Jersey properties include Brightview Greentree in Marlton, Brightview Mount Laurel in Mount Laurel and Brightview Woodbury Lake in Deptford. The Massachusetts properties include Brightview Concord River in Billerica and Brightview North Andover in North Andover. The seller and sales price were undisclosed.

December 13, 2019

holiday-inn-wilkes-barre-east-mountain-pennsylvania-home1-top

Acquisitions Hospitality Northeast Pennsylvania

HREC Brokers Sale of 152-Room Holiday Inn Hotel in Wilkes Barre, Pennsylvania

by Alex Patton December 13, 2019

WILKES BARRE, PA. — HREC Investment Advisors has brokered the sale of the 152-room Holiday Inn Wilkes Barre East Mountain, a hotel located approximately 115 miles north of Philadelphia. Amenities include an onsite business center, laundry facilities, an indoor pool and two restaurants. Mark Rousseau and Mark von Dwingelo of HREC represented the seller, Plains Hotel Associates. Regal Hospitality was the buyer. The sales price was undisclosed.

December 13, 2019

Development New Jersey Northeast Retail

IT’SUGAR Opens 22,000 SF Store at American Dream in East Rutherford, New Jersey

by Alex Patton December 13, 2019

EAST RUTHERFORD, N.J. — Candy and sweets retailer IT’SUGAR has opened a 22,000-square-foot store at American Dream, a newly opened entertainment and retail destination in East Rutherford, a western suburb of New York City. The official opening was Saturday, Dec. 14. The first floor of the three-story store offers giant candy, sugar sculptures and more than 5,000 square feet of candy bins with a variety of sweets. The second floor houses branded candies, including Sour Patch Kids, Swedish Fish and Reese’s. In spring 2020, a café called Oreo TWISTiD will open on the third floor, which overlooks the theme parks of American Dream’s entertainment atrium.

December 13, 2019

New Jersey Northeast Office

NAI James Hanson Negotiates 5,374 Office Lease in Paramus, New Jersey

by Alex Patton December 13, 2019

PARAMUS, N.J. — NAI James Hanson has negotiated a 5,374-square-foot office lease for Edge Physical Therapy & Sports Medicine LLC in Paramus, located approximately 20 miles northwest of New York City. The 168,000-square-foot office building offers access to Garden State Parkway, the New Jersey Turnpike and two regional shopping centers. Darren Lizzack and Randy Horning of NAI James Hanson represented the tenant in the lease negotiations. Curtis Foster and Jerry Shifrin of Cushman & Wakefield represented the landlord, Stanford Atrium Corp.

December 13, 2019

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