Northeast

Winstanley Enterprises Acquires Industrial Portfolio in South Windsor, Connecticut, for $44M

by Alex Patton February 3, 2020

SOUTH WINDSOR, CONN. — Winstanley Enterprises LLC, a Massachusetts-based development and investment firm, has acquired a two-property industrial portfolio totaling 460,000-square-foot in South Windsor, a northeastern suburb of Hartford. The sales price was $44 million. The first property, located at 135 Sullivan Ave., is a 292,000-square-foot dry goods distribution center leased to Mobis Parts of America. The second property, located at 175 Sullivan Ave., is a 168,00-square-foot cold storage distribution center leased to Performance Food Group Inc. Both tenants will continue their leases with Winstanley as the new landlord. Brad Ruppel and Lauren Dawickiof of CBRE represented Winstanley in the transaction. The seller was undisclosed.

February 3, 2020

Loans Multifamily New York Northeast

Morgan Stanley Provides $43.8M Loan to Refinance Bronx Multifamily Portfolio

by Alex Patton February 3, 2020

NEW YORK CITY — Morgan Stanley has provided a $43.8 million loan to refinance a six-property multifamily portfolio in the Bronx. The loan, which Morgan Stanley provided to Timberger East Real Estate, features a fixed rate of 3.74 percent and ten years of full-term, interest-only payments. The properties include 305 total units and are located at 104 W. 190th St., 1055 Grand Concourse, 1354 Commonwealth Ave., 2085 Valentine Ave., 2264 Creston Ave. and 3425 Knox Ave. Bryan Manz, Rob Serra and Emil DePasquale of Black Bear Capital Partners secured the loan.

February 3, 2020

Development Massachusetts Northeast Office

Marcus Partners Completes $25M Redevelopment of 5 Branch Street Office Building in Methuen, Massachusetts

by Alex Patton February 3, 2020

METHUEN, MASS. — Marcus Partners has completed the $25 million redevelopment of 5 Branch Street, a 94,125-square-foot office building in Methuen, located approximately 30 miles north of Boston. The developer transformed the building into a medical facility with a built-in café. The anchor tenant with approximately 61,000, Dana-Farber Cancer Institute, will offer cancer and blood disorder care. Michael Greeley of Newmark Knight Frank is leading the leasing effort for the remaining space.

February 3, 2020

Leasing Activity New York Northeast Office

Colliers Negotiates 36,248 SF Office Lease Renewal at The Seagram Building in Manhattan

by Alex Patton February 3, 2020

NEW YORK CITY —Colliers International has negotiated a 36,248-square-foot office lease for multifamily and commercial REIT Arbor Realty Trust Inc. at The Seagram Building in Midtown Manhattan. Located at 375 Park Ave., the 38-story building was completed in 1958. Arbor previously occupied 16,000 square feet on the 34th floor and has now expanded its operations to the entire 29th and 30th floors on a 10-year term. Ted Koltis and Reid Longley of Colliers represented Arbor in the lease negotiations. AJ Camhi and Kevin West represented the building owner, RFR Holding, on an internal basis.

February 3, 2020

Leasing Activity New York Northeast Retail

Warby Parker Opens 2,564 SF Store in Brooklyn

by Alex Patton February 3, 2020

NEW YORK CITY — Eyewear retailer Warby Parker has opened a 2,564-square-foot store in the Park Slope neighborhood of Brooklyn. The two-story building is located at 208 Flatbrush Ave., near the Barclays Center. Brian Katz and Scott Sher of Katz & Associates represented Warby Parker in the lease negotiations. Pintchick Associates Ltd. is the landlord.

February 3, 2020

Acquisitions Massachusetts Northeast Retail

JLL Income Property Trust Acquires Milford Crossing Shopping Center in Massachusetts for $42M

by Alex Patton January 31, 2020

MILFORD, MASS. — JLL Income Property Trust, an institutionally managed daily NAV REIT, has acquired Milford Crossing, a 160,000-square-foot shopping center located approximately 40 miles southwest of Boston, for $42 million. A Stop & Shop grocery store anchors the shopping center, which was 99 percent leased to restaurants, medical, fitness and service-oriented retailers at the time of sale. RD Management LLC was the seller.

January 31, 2020

Industrial Leasing Activity New Jersey Northeast

Axis Global Signs 53,361 SF Industrial Lease in East Rutherford, New Jersey

by Alex Patton January 31, 2020

EAST RUTHERFORD, N.J. — Axis Global has signed a 53,361-square-foot industrial lease in East Rutherford, a western suburb of New York City. The company will occupy the entirety of 343 Murray Hill Parkway, an office building located next door to the Meadowlands Sports Complex. The building features 21-foot ceiling heights and convenient access to the Garden State Parkway and New Jersey Turnpike. Steve Elman of Cushman & Wakefield represented Axis Global in the lease negotiations. Patrick Lennon, Lorenzo Lambiase and Steve Pastor of NAI James Hanson represented the landlord, 343 Murray Hill Parkway Inc.

January 31, 2020

Acquisitions New York Northeast Walker & Dunlop

Walker & Dunlop Acquires AKS Capital Partners

by Alex Patton January 31, 2020

NEW YORK CITY — Walker & Dunlop Inc. has acquired New York City-based capital markets advisory firm AKS Capital Partners. Aaron Appel, Keith Kurland, Jonathan Schwartz and Adam Schwartz, who lead the 15-person AKS team, will join Walker & Dunlop as senior managing directors and co-heads of the New York capital markets practice. The team will focus on sourcing and structuring financing for all commercial real estate asset classes nationally, as well as expanding Walker & Dunlop’s client base and capital markets capabilities. The sales price was undisclosed.

January 31, 2020

Leasing Activity New York Northeast Office

CBRE Negotiates 52,400 SF Office Lease at Trinity Centre in Manhattan

by Alex Patton January 31, 2020

NEW YORK CITY — CBRE has negotiated a 52,400-square-foot office lease for advertising agency Johannes Leonardo at Trinity Centre, a two-building office complex located at 111-115 Broadway. The company will take occupancy of the space beginning in July. Adam Foster, Brad Gerla, Adam Leshowitz and Mike Rizzo of CBRE represented the building owner, Capital Properties, in the lease negotiations. Daniel Breiman of Olmstead Properties represented Johannes Leonardo.

January 31, 2020

Leasing Activity Massachusetts Northeast Retail

Samuel Adams Opens 14,000 SF Brewery, Taproom at Boston’s Faneuil Hall

by Alex Patton January 31, 2020

BOSTON — Samuel Adams has opened a 14,000-square-foot brewery and taproom in Boston’s Faneuil Hall Marketplace. The brewery will serve as an experimental facility for specialty brews. Along with Samuel Adams’ year-round beer roster, guests can taste taproom-exclusive offerings and share feedback directly with the brewers. The taproom will feature three bar floors with large community tables and a rooftop patio. The Boston Beer Co. owns the Samuel Adams brands. Bergmeyer Associates Inc. designed the space, and Gilbane Building Co. constructed it.

January 31, 2020

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