NEW HAVEN, CONN. — Newmark Knight Frank has arranged the $12.2 million sale of 545 Long Wharf Drive, a 245,389-square-foot Class A office building in New Haven. The nine-story building previously served as AT&T’s corporate office and is now partially leased by a number of companies and start-ups. Steven Schultz, Cory Gubner, Tony Georgiev and Alex Haendler represented the undisclosed seller in the transaction. Vision Real Estate Partners was the buyer.
HERSHEY, HUMMELSTOWN AND PALMYRA, PA. — The Kislak Co. Inc. has brokered the $10.6 million sale of a multifamily portfolio totaling 96 units in the metro Harrisburg area. The portfolio comprises the 18-unit White Birch Apartments and 32-unit Lincoln Apartments, both in Hershey; the 32-unit Li-Lo Apartments in Hummelstown; and the 14-unit Barrington Court Apartments in Palmyra. Robert Holland and Matt Wolf of Kislak Co. represented the buyer, Hershey Apartment Group LLC. The team also represented the sellers, private individuals Donald and Cathy Foreman.
NEW YORK CITY — Private education institution The Whittle School & Studios will open a 620,000-square-foot campus at The Wheeler, a 10-story tower in Brooklyn. Tishman Speyer recently completed construction of the tower, which is situated on top of a renovated Macy’s department store. The developer is finalizing construction of 11 Hoyt, an adjacent 48-unit condominium tower on the site of the former Macy’s parking garage. Shimoda Design Group was the architect of the project. The Whittle School will open its early learning program later this year, followed by its full Kindergarten through 12th grade program in September 2021. The Wall Street Journal reports that the project is expected to cost $300 million. Mark Aloia, Gary Rosenberg and Arielle Frost of Rosenberg & Estis P.C. represented Whittle in the lease negotiations.
LUMBERTON, N.J. — JLL has brokered the $25 million sale of Cross Roads Plaza, a 99,650-square-foot retail center in Lumberton, an eastern suburb of Philadelphia. A 70,818-square-foot ShopRite grocery store anchors the property, along with a Wawa convenience store and a Wells Fargo bank. Chris Munley, James Galbally, Jose Cruz and Colin Behr of JLL represented the seller, a partnership between Madison International Realty and SITE Centers Corp. Medipower Public Co. Ltd. purchased the asset.
NEW YORK CITY — Newmark Knight Frank (NKF) has negotiated a 70,728-square-foot office lease for accounting firm Marcum LLP in Midtown Manhattan. The company will relocate its headquarters to 730 Third Avenue, a 665,110-square-foot office building, from its current space at 750 Third Avenue by early 2021. The owner, TIAA, is currently renovating the building with two new lobbies and a 35,000-square-foot amenity space with a food hall, fitness center and conference facility. Ross Perlman and Lee Brodsky of NKF represented Marcum in the lease negotiations. Neil King and Paul Amrich of CBRE represented TIAA.
NEW YORK CITY — Law firm Katsky Korins LLP has extended its 19,871-square-foot office lease at 605 Third Avenue, a 1.1 million-square-foot office building in Midtown Manhattan. Under the terms of the lease extension, the firm will remain in its space through mid-2032. The company has been a tenant of the building since 1988 and occupies the entire 17th floor. Oliver Katcher of Indigo Property Holdings LLC represented Katsy Korins in the lease negotiations. Marc Packman and Clark Briffel represented the landlord, Fisher Brothers, on an internal basis.
MONTVALE, N.J. — Katz & Associates has secured a 3,699-square-foot retail lease for breakfast restaurant First Watch at The Shoppes at DePiero Farm, a 231,000-square-foot retail center in Montvale, a northwestern suburb of New York City. A 128,000-square-foot Wegmans grocery store anchors the property, along with a Starbucks, Wind Wellness and other tenants. Hugh Scullin and Amy Staats of Katz & Associates represented First Watch in the lease negotiations. Brian Silbert of Silbert Management represented the landlord, The S.Hekemian Group.
NEW YORK CITY — Marcus & Millichap has brokered the $33 million sale of a residential development site in the Williamsburg neighborhood of Brooklyn. The site comprises three former industrial and residential buildings on the same block, located at 118 Hope St., 428 Rodney St. and 426 Rodney St. The buyer, local developer CW Realty, plans to redevelop the property with 100 multifamily units. Said Boukhalfa and Jonathan Codorniu of Marcus & Millichap represented CW Realty in the transaction. The team also represented the sellers, which were private owner-users.
NEW YORK CITY — Greystone, a New York City-based lending and advisory company, has formed a joint venture with Rittenhouse Realty Advisors, a Philadelphia-based advisory group. The joint venture is called Greystone Rittenhouse Realty Advisors, which includes a total of seven sales and debt advisors. The purpose of the joint venture is to provide disposition, refinancing, acquisition and bridge financing to multifamily clients in the Mid-Atlantic and Northeast regions. Jim McDevitt is the president of the joint venture. Ken Weller and Corey Lonberger lead the Rittenhouse Realty Advisors team.
WILMINGTON, DEL. — Business security firm Corporation Service Co. (CSC) has acquired the 43,000-square-foot PA Railroad office building in Wilmington, a southwestern suburb of Philadelphia, for $4.8 million. Located at 112 S. French St., the six-story building is situated adjacent to the Wilmington train station served by Amtrak and Southeastern Pennsylvania Transportation Authority. The building will be rebranded as CSC Station and will be repositioned to include a new two-story atrium, coworking space and traditional office space. Renovations are slated for completion this fall. Summit Properties Inc. was the seller.
