EWING, N.J. — Duck Duck Tooth Pediatric Dentistry has signed a 3,900-square-foot retail lease in Ewing, located just outside of Trenton. The space is located within the 355,000-square-foot Capitol Plaza shopping center, which is anchored by Marshall’s, Save A Lot, Planet Fitness, Dollar Tree and dd’s Discounts. Fred Younkin of Levin Management Corp. represented the undisclosed landlord in the lease negotiations. Jon Porter of CARR represented the tenant.
NEW YORK CITY — JLL has negotiated the $104.5 million sale of a 204-unit apartment building located in Manhattan’s Gramercy Park neighborhood. The seven-story building at 210-220 E. 22nd St. comprises 82 studios, 75 one-bedroom units, 39 two-bedroom residences and eight three-bedroom apartments. Amenities include a fitness center, resident lounge and onsite laundry facilities. Andrew Scandalios, Jeffrey Julien, Rob Hinckley and Steven Rutman of JLL represented the undisclosed seller in the transaction. The team also procured the buyer, a joint venture between New York-based Canvas Property Group, Declaration Partners and Tokyu Land US Corp. The property was 95 percent occupied at the time of sale.
PHILADELPHIA — Newmark has brokered the $59 million sale of a 450,000-square-foot industrial building in Philadelphia. The site at 6250 Baltimore Ave. is located on the city’s west side, and the facility features a clear height of 24 feet, 125-foot truck court depths, more than 80 loading docks and dedicated storage space and trailer parking. An affiliate of Velocity Venture Partners sold the property, which was 96 percent leased at the time of sale, with Ryan Guittare of Newmark brokering the deal. Newmark also arranged acquisition financing on behalf of the undisclosed buyer.
CARMEL, N.Y. — Diamond Point Development has broken ground on an 800-unit self-storage facility in Carmel, about 60 miles north of New York City in the Hudson Valley region. The multi-story facility will comprise 81,000 net rentable square feet of climate-controlled space. Diamond Point is developing the facility in partnership with Dallas-based Rosewood Property Co. Extra Space Storage will manage the property, which is expected to be complete in late 2025.
ALLENTOWN, PA. — Infinera (NASDAQ: INFN) has signed a nonbinding preliminary memorandum of terms to receive up to $93 million in funding under the CHIPS and Science Act, proceeds of which would be used to expand the California-based semiconductor manufacturer’s Lehigh Valley facility. Funding would also be allocated toward the expansion and modernization of the company’s Silicon Valley facility, and the projects could support the creation of as many as 1,700 manufacturing and construction jobs.
AMBLER, PA. — Stream Realty Partners has negotiated a 47,194-square-foot life sciences lease in Ambler, a northern suburb of Philadelphia. The space is located within Building 14B of Spring House Innovation Park, an office and life sciences campus that consists of 11 buildings totaling 600,000 square feet on 133 acres. Zach Leger of Stream represented the tenant, Nucleus Radiopharma Inc., in the lease negotiations. Matthew Knowles, Paul Touhey and Cody Lehrer of CBRE represented the undisclosed landlord.
REVERE, MASS. — A partnership between New York City-based Link Logistics Real Estate and locally based investment firm Saracen Properties has broken ground on a 367,000-square-foot industrial project in the eastern Boston suburb of Revere. The project represents Phase I of Trident Logistics Center, a 635,000-square-foot development that will be constructed on a speculative basis on a 23-acre site that is located about two miles from Logan International Airport and originally functioned as an oil tank farm. The Phase I building will feature a clear height of 40 feet and 60 loading docks. Gilbane Building Co. is handling construction, which is slated for a late 2025 completion.
BEAR, DEL. — A partnership between two regional developers, The Davis Cos. and J.G. Petrucci Co., is underway on construction of a 361,700-square-foot industrial project in Bear, about 45 miles southwest of Philadelphia. The site at 710 American Blvd. spans 28 acres and offers proximity to U.S. Route 40, 1-95, I-295 and the New Jersey Turnpike. The development will feature a clear height of 30 feet, 68 overhead loading dock doors, two drive-in doors, 3,150 square feet of office space and parking for 250 cars and 50 trailers. Construction is slated for a third-quarter 2025 completion.
DEVENS, MASS. — JLL has arranged the sale and financing of two hotels totaling 238 rooms in Devens, about 35 miles northwest of Boston. The 118-room Hilton Garden Inn Devens and 120-room SpringHill Suites Devens both offer indoor pools, fitness and business centers and meeting/event space. Alan Suzuki, Matthew Enright and Emily Zhang of JLL represented the seller, RA Ventures, in the transaction. Amy Lousararian and Hugh Doherty of JLL arranged acquisition financing on behalf of the undisclosed buyer(s). BankProv provided the loan for the Hilton Garden Inn, and Avidia Bank funded the acquisition of the SpringHill Suites.
WESTBOROUGH, MASS. — Marcus & Millichap has brokered the $4.8 million sale of Westmeadow Plaza, a retail center located in Westborough, roughly 35 miles west of Boston. Tenants at the 27,867-square-foot center include Papa Gino’s, H&R Block, Westborough Dentistry and Spices of India. Westmeadow Plaza’s tenant roster spans 15 users, and the property was fully leased at the time of sale. Evan Griffith, Tony Pepdjonovic and Brett Kilar of Marcus & Millichap represented the seller and procured the buyer in the transaction.