ELIZABETH, N.J. — Refrigerated warehouse user Superior Cold Storage & Logistics LLC has renewed its 30,000-square-foot industrial lease in Elizabeth, a western suburb of New York City. The property, located at 1161 E Broad St., offers 20-foot clear heights, three dock-high doors and three drive-in doors. Ed English, Ron Ganter, Tom Giannone and Paul Errigo of Avison Young represented Superior Cold Storage in the lease negotiations. Jason Crimmons of The Blau & Berg Co. represented the landlord, Linden Realty.
JERSEY CITY, N.J. — Levin Management Corp. (LMC) has negotiated two new retail leases totaling 10,000 square feet at Twin City Shopping Center, 95,000-square-foot shopping center in the western New York City suburb of Jersey City. Hook & Reel Cajun Seafood and Bar leased 8,350 square feet, and Apple Nail salon leased 1,650 square feet. The property’s dining options also include Taco Bell, Popeye’s Louisiana Kitchen, Wendy’s and Dunkin’. E.J. Moawad of LMC represented the landlord in both lease negotiations. Igal Nassim of Mason Asset Management represented Hook & Reel.
STRATFORD, CONN. — Video game and prop rental company Arcade Specialties LLC has signed a 9,120-square-foot industrial sublease in Stratford, located approximately 15 miles southwest of New Haven. The company is moving its headquarters from 955 Connecticut Ave. in Bridgeport to 40 Mead St. in Stratford. Jon Angel of Angel Commercial LLC represented Arcade Specialties in the sublease negotiations. Hodson Realty represented the tenant. Arcade Specialties supplies retro arcade games, pinball machines, foosball tables and Chexx hockey tables for corporate and residential parties, prop rentals and photo shoots.
NEW ROCHELLE, N.Y. — RXR Realty is underway on 26 South Division Street, a 352-unit multifamily development in New Rochelle, a northern suburb of New York City. The property will include approximately 12,000 square feet of ground-floor retail space. The multifamily component will offer one-, two- and three-bedroom apartments with a valet parking garage, lounge, co-working space and a speakeasy. The property is slated to open in late 2021.
PHILADELPHIA — Fast fashion retailer Primark will open a 34,200-square-foot store to anchor the west end of Fashion District Philadelphia, an apparel-focused mall redevelopment located in the Center City area of Philadelphia. Cosmetic retailer Sephora and apparel retailers Forever 21 and Kate Spade New York Outlet also recently signed new leases at the retail center. PREIT and Macerich developed Fashion District Philadelphia, which opened in September.
GARFIELD, N.J. — CBRE has brokered the sale of Transit Crossing, a 75-unit multifamily community in Garfield, a western suburb of New York City. Built in 2018, Transit Crossing comprises 21 one-bedroom and 54 two-bedroom apartments. Amenities include two lounges and a fitness center. Nat Gambuzza, John Veniero and Spencer Beriont of CBRE represented the seller. The property was sold to an out-of-state investor for an undisclosed price.
BRIDGEWATER, N.J. — Phillips Realty Capital has arranged a $28.7 million acquisition loan for a 205,000-square-foot, Class A office building in Bridgewater, located approximately 30 miles southwest of New York City. Bridge Investment Group provided the non-recourse financing to the borrower, Legacy Investing LLC, which acquired the asset from Senior Housing Properties Trust for $47.5 million. The building was 59 percent leased to multinational health information technology and clinical research company IQVIA at the time of sale. William Lawson and Adam Bieber of Phillips Realty Capital structured and placed the loan.
NEW YORK CITY — JLL has negotiated the sale of 107 South Street, an 8,283-square-foot office building in the Seaport District of Manhattan. Dr. Michel Cohen, founder of New York-based medical practice Tribeca Pediatrics, acquired the property. The building was originally constructed in 1900 and sits across the street from the Pier 17 mixed-use development, which houses several dining and entertainment tenants. Will Suarez of JLL represented the undisclosed seller in the transaction.
EAST GREENWICH, N.J. — A joint venture between Pacific Coast Capital Partners LLC (PCCP) and CRG is underway on development of The Cubes at East Greenwich, a two-building, Class A industrial warehouse project totaling 535,790 square feet in East Greenwich, a southern suburb of Philadelphia. The first building, located at 100 Huff Road, will comprise a 283,040-square-foot structure with 36-foot clear heights, 43 exterior docks, two drive-in doors, 60 trailer parking spaces and a 130-foot truck court. The second building, located at 191 Harmony Road, will consist of a 252,750-square-foot structure with 36-foot clear heights, 38 exterior docks, two drive-in doors, 79 trailer parking spaces and a 130-foot truck court. Construction of both buildings, which are being developed on a speculative basis, is slated for completion in the third quarter of 2020.
NEW YORK CITY — Investment firm Oak Hill Advisors has preleased 45,954 square feet of office space at One Vanderbilt Avenue, a 1.6 million-square-foot tower under development in the East Midtown neighborhood of Manhattan. One Vanderbilt is now 64 percent preleased to tenants including investment firm The Carlyle Group, equity firm Sentinel Capital Partners, TD Bank Group and German financial firms DZ Bank and DVB Bank. One Vanderbilt will offer a 30,000-square-foot, tenant-only amenity floor with meeting spaces, lounge and an outdoor terrace. The building will also include an 11,000-square-foot restaurant concept from French chef Daniel Boulud. Lance Korman, Brian Waterman and Jared Horowitz of Newmark Knight Frank represented Oak Hill Advisors in the lease negotiations. Robert Alexander, Ryan Alexander, Emily Jones and Alex D’Amario of CBRE represented the landlord and developer of the building, SL Green Realty Corp. Construction is slated for completion in August 2020.