NEW YORK CITY — Marcus & Millichap has brokered the $5.9 million sale of a five-story mixed-use building in Lower Manhattan. The building at 133 Eldridge St. features ground-floor retail space with residential units above. Joe Koicim and Logan Markley of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
MADISON, N.J. — Locally based intermediary G.S. Wilcox & Co. has arranged a $5.4 million loan for the refinancing of a 28,645-square-foot retail property in the Northern New Jersey community of Madison. The property is fully leased to an undisclosed national grocer. Bridget Wilcox and Al Raymond of G.S. Wilcox arranged the loan, which carried a 15-year term and a 30-year amortization schedule, through an undisclosed life insurance company.
HARRISON AND KEARNY, N.J. — NAI James E. Hanson has brokered the $156.3 million sale of a portfolio of six industrial outdoor storage (IOS) properties totaling 48.7 acres in Northern New Jersey. Four of the properties are located in Harrison, and the other two are located in Kearny. Scott Perkins, Christopher Todd, and William Ericksen of NAI Hanson represented the buyer, Chicago-based Ambient Capital Partners, in the transaction. The seller was not disclosed.
NEW YORK CITY — Pillar Property Management has broken ground on The Earl Monroe New Renaissance Basketball School, a $35 million academic project in the Mott Haven area of The Bronx. The five-story, 69,000-square-foot building will be located at 647 Elton Ave. and will house an 8,000-square foot gymnasium, 27 regular and specialty classrooms, a library/media production studio and a dedicated broadcast studio. New Renaissance Basketball Association will operate the school, which expects to have an enrollment of about 400 students, via a long-term lease with Pillar. The project team includes ESKW/Architects, IMC Architecture, JV Construction & Consulting and Brisa Builders. Completion is slated for early 2026.
NEW YORK CITY — Eastdil Secured has arranged the recapitalization of Park Sixty, a 186,000-square-foot medical office building located at 110 E. 60th St. in Manhattan’s Plaza District. The property consists of 179,000 square feet of medical office space and 7,000 square feet of retail space and recently underwent a $20 million renovation that upgraded the building’s infrastructure, lobby and common areas. Eastdil acted on behalf of Connecticut-based investment management firm LoanCore Capital, which now owns and operates Park Sixty in partnership with real estate private equity firm Blue Arch Capital and Dallas-based Lincoln Property Co.
WATERTOWN, MASS. —Biotechnology company NewCo has signed a 61,189-square-foot life sciences lease in the western Boston suburb of Watertown. The building at 66 Galen St. is a newly completed, 225,000-square-foot facility that is part of a larger, 450,000-square-foot campus. Evan Gallagher and John Carroll of Colliers represented NewCo in the lease negotiations. Duncan Gratton, Connor Barnes and Joe Pearce of Cushman & Wakefield represented the landlord, partnership between two locally based firms, Davis Cos. and Boston Development Group.
EXTON, PA. — Kimberton Whole Foods will open a new, 14,000-square-foot store in Exton, roughly 30 miles outside Philadelphia. Construction on the building will begin before the end of October, with the opening scheduled for spring 2026. The store will be situated within the 800-acre Eagleview mixed-use development. Hankin Group is the developer and landlord. The store will be the eighth overall for the family-owned organic grocer.
SHREWSBURY, MASS. — North Carolina-based investment firm Bell Partners has acquired Quinn35, a 250-unit apartment community located in the central Massachusetts city of Shrewsbury. The property was built in 2018 and has been managed by Bell Partners since 2019. Units come in studio, one-, two- and three-bedroom floor plans. Amenities include a clubhouse and social lounge, a 24-hour fitness center, recreation room with billiards, dog park, outdoor lounge and a heated pool. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, New York City-based Bluerock Real Estate Holdings, in the transaction. Bell Partners has rebranded the property as Bell Shrewsbury.
NEWTOWN SQUARE, PA. — Locally based investment firm Equus Capital Partners has completed a 140-room hotel in Newtown Square, a western suburb of Philadelphia, that is operated under the AC by Marriott brand. The site of the five-story building is located within the 218-acre Ellis Preserve master-planned community and was formerly home to the Charles Ellis School for fatherless girls. Amenities include 2,200 square feet of meeting and event space, a daytime café that turns into a nighttime lounge and a 24-hour fitness center. Gulph Creek Hotels manages the property.
WATERTOWN, MASS. — Biopharmaceutical company LifeMine has signed a 56,465-square-foot life sciences lease in the western Boston suburb of Watertown. The building at 66 Galen St. is a newly completed, 225,000-square-foot facility that is part of a larger, 450,000-square-foot campus. Evan Gallagher and John Carroll of Colliers represented LifeMine in the lease negotiations. Duncan Gratton, Connor Barnes and Joe Pearce of Cushman & Wakefield represented the landlord, a partnership between two locally based firms, Davis Cos. and Boston Development Group.