MAPLEWOOD, N.J. — Marcus & Millichap has brokered the $4.3 million sale of two retail buildings in Maplewood, located just outside of Newark. The two adjacent, freestanding buildings are leased to Dollar General and Sherwin-Williams and both recently underwent capital improvements. Alan Cafiero, David Cafiero and Dean Matuszewicz of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
WAYNE, PA. — CBRE has negotiated a 32,600-square-foot office lease in Wayne, a western suburb of Philadelphia. The tenant is Comcast Cable Communications Management, and the space is located within the 200,000-square-foot, freshly renovated building at 1111 Old Eagle School Road. Scott Gabrielsen of CBRE represented the landlord, De Lage Landen Financial Services, in the lease negotiations. Jay Joyce of Savills represented Comcast.
NEW YORK CITY — The Legal Aid Society has signed a 29,467-square-foot office lease renewal and expansion on Staten Island. The expanded space includes suites on the second, third and eighth floors of the building at 60 Bay St. Christopher Mansfield, Craig Reicher, Greg Maurer-Hollaender and Julia Passantem of CBRE represented the tenant in the lease negotiations. Bill Bergman internally represented the landlord, Muss Development.
MILLSTONE, N.J. — Pennsylvania-based Logistics Plus Inc. has signed a 1 million-square-foot, full-building industrial lease in Millstone, an eastern suburb of Trenton. The building is part of Millstone 8 Logistics Center, a 140-acre speculative development by Crow Holdings that also includes a 220,000-square-foot building that is fully leased to United Legwear. Logistics Plus’ building features a clear height of 40 feet, 274 trailer parking stalls and 172 loading doors. Rob Kossar, Nate Demetsky and Leslie Lanne of JLL represented the ownership group, which includes The Carlyle Group and 2020 Acquisitions, in the lease negotiations. Andrew Crites, Art Leichner and Kyle Eaton of Newmark represented the tenant.
JERSEY CITY, N.J. — BHI, the U.S. division of Israel’s Bank Hapoalim, has provided a $35 million construction loan for a 202-unit multifamily project in Jersey City. The development at 277-301 West Side Avenue will be a six-story building that will house 42 studios, 119 one-bedroom units, 32 two-bedroom apartments and nine three-bedroom residences. Ten percent of the units will be reserved as affordable housing, and the building will also feature 5,800 square feet of commercial space. Amenities will include a pool, fitness center, sauna, meditation room, rooftop terrace and outdoor grilling and dining stations. The borrower is Tay Investments.
BOSTON — A partnership between nonprofit developer The Community Builders and social services provider Pine Street Inn has completed The Lyndia, a 202-unit affordable housing project in Boston’s Jamaica Plain neighborhood. Designed by Boston-based RODE Architects, The Lyndia offers 140 units for formerly homeless individuals and 62 income-restricted units, as well as 13,000 square feet of community space. Residents will have access to resources like medical and mental healthcare, vocational and volunteer opportunities.
WESTFIELD, N.J. — A partnership between two New Jersey-based firms, Premier Development and Garden Communities, has begun leasing Parkside at Westfield, a 162-unit apartment complex located about 25 miles southwest of New York City. Designed by BlackBird Group Architects, the garden-style property consists of three buildings that house one-, two- and three-bedroom units that range in size from 985 to 1,944 square feet. Amenities include a fitness center, library, lounge, playground and outdoor grilling and dining stations. Rents start at roughly $3,400 per month for a one-bedroom apartment.
WAYNE, PA. — CBRE has negotiated a 38,572-square-foot office headquarters lease in Wayne, a western suburb of Philadelphia. The tenant is iPipeline, a software provider for the financial services and life insurance industries, and the space is located within the 200,000-square-foot, freshly renovated building at 1111 Old Eagle School Road. Scott Gabrielsen of CBRE represented the landlord, De Lage Landen Financial Services, in the lease negotiations. Mitch Reading of Tactix Real Estate Advisors represented the tenant.
CARNEYS POINT, N.J. — CBRE has arranged the sale of a 707,400-square-foot industrial development site in Carneys Point, located along the Delaware River in Southern New Jersey. Known as Salem Commerce Park, the site is fully approved for the development of three buildings on three separate parcels, and the sale included a 10-acre tract that houses a 78,000-square-foot vacant office building. An affiliate of local developer D2 Organization sold the property to another local entity, EQT Exeter, for an undisclosed price. Brian Fiumara and Brad Ruppel of CBRE brokered the deal.
SPRINGFIELD, MASS. — Inland Private Capital Corp. and Devon Self Storage, which are both part of The Inland Real Estate Group of Cos., have completed a 601-unit self-storage redevelopment project in the western Massachusetts city of Springfield. The project converted a historic former factory building in the downtown area into a facility with three interconnected buildings totaling 59,837 net rentable square feet of climate-controlled space. The facility also features drive-thru unit capability and a 24-hour security system.