Northeast

Cushman & Wakefield Negotiates Two Office Leases Totaling 4,920 SF in Somerset, New Jersey

by Alex Patton August 19, 2019

SOMERSET, N.J. — Cushman & Wakefield has negotiated two office leases totaling 4,920 square feet in Somerset, a city located about 40 miles east of New York City. The offices are situated within 200 Cottontail Lane, a 208,000-square-foot Class A office property. August eTech signed a 3,230-square-foot headquarters office lease, and Tekcon Construction signed a 1,800-square-foot regional office lease. Paul Giannone, Todd Elfand, Kevin Carton and Joe Vacca of Cushman & Wakefield represented the landlord, The Winter Organization, in both lease negotiations. Carolyn Sica of CBRE represented eTech.

August 19, 2019

Loans Multifamily New York Northeast Seniors Housing

Contemporary Provides $2.1M Mezzanine Loan for Refinancing of Seniors Housing Community in Upstate New York

by Alex Patton August 19, 2019

NEWFANE, N.Y. — Contemporary Healthcare Capital has provided a $2.1 million mezzanine loan for the refinancing of a 165-bed seniors housing community in Newfane, a city located about 40 miles north of Buffalo. The borrowers were affiliates of Maximus Healthcare Group. CoastalStates Bank (CSB) provided an accompanying senior loan. The loans will refinance an existing and maturing term loan originally provided by Contemporary and another regional bank for the acquisition of the facility.

August 19, 2019

Development Industrial New Jersey Northeast

Seagis Begins Construction of 415,533 SF Industrial Property in Kearny, New Jersey

by Alex Patton August 16, 2019

KEARNY, N.J. — Seagis Property Group, a Pennsylvania-based developer, has begun construction of a 415,533-square-foot industrial property in Kearny, a western suburb of New York City. The property features 40-foot clear heights, 88 dock doors, four drive-in doors and close access to the New Jersey Turnpike and Port Newark. Construction is slated for completion in early 2020.

August 16, 2019

Development Hospitality New Jersey Northeast

Aparium Completes 159-Room Hotel in Montclair, New Jersey

by Alex Patton August 16, 2019

MONTCLAIR, N.J. — Aparium Hotel Group, a Chicago-based developer, has completed The MC Hotel, a 159-room hotel in Montclair, a western suburb of New York City. The MC is Aparium’s first property on the East Coast, and the first hotel to open in Montclair since 1939. Designed by New York-based DYAMI Architecture, the building also houses Allegory, a contemporary American restaurant.

August 16, 2019

Connecticut Development Multifamily Northeast

Dakota Partners to Build 144-Unit Multifamily Community in Griswold, Connecticut

by Alex Patton August 16, 2019

GRISWOLD, CONN. — Dakota Partners, a Massachusetts-based developer, will build a 144-unit multifamily property in Griswold, about 50 miles east of Hartford. Dakota Partners purchased the land from Omega Healthcare for $1.3 million. More than 75 percent of the units will be leased as affordable housing. Construction is slated to begin in 2020. Ron Lyman of Lyman Real Estate represented both Dakota Partners and Omega Healthcare in the land sale.

August 16, 2019

Acquisitions New Jersey Northeast Office

NAI James Hanson Negotiates Sale of 8,000 SF Medical Office Building in New Providence, New Jersey

by Alex Patton August 16, 2019

NEW PROVIDENCE, N.J. — NAI James Hanson has negotiated the sale of an 8,000-square-foot medical office building in New Providence, a western suburb of New York City. The buyer, New Jersey-based optometrist See Clear Associates LLC, plans to renovate and occupy the entire first floor of the building and lease the second floor to medical tenants. Andrew Kirshenbaum of NAI represented See Clear in the transaction. Edison-based Bussel Realty Corp. was the seller.

August 16, 2019

Development New Jersey Northeast Retail

Filipino Grocer to Open 16,000 SF Store in Clifton, New Jersey

by Alex Patton August 16, 2019

CLIFTON, N.J. — Filipino grocer FilStop will open a 16,000-square-foot flagship store in Clifton, a western suburb of New York City. The specialized grocery store will also maintain its original 4,000-square-foot location in Jersey City. The store will be located within Clifton Plaza, a 95,000-square-foot retail center anchored by Big Lots, Blink Fitness and Dollar Tree. Levin Management Corp. is the leasing agent for the property. The opening is slated for Aug. 22.

August 16, 2019

Development New York Northeast Office

F&T, SCG America Open 85,000 SF Office Building in Queens

by Alex Patton August 15, 2019

NEW YORK CITY — A partnership between New York-based developers F&T Group and SCG America has opened Tangram Tower, an 85,000-square-foot office building within the Tangram mixed-use development in Queens. The building is currently 80 percent sold to medical practitioners and other professionals. Tangram Tower offers access to the 1.2 million-square-foot Tangram development’s two residential towers and hotel, as well as an array of retail and culinary options. Margulies Hoelzli Architecture designed the development.

August 15, 2019

Acquisitions New York Northeast Retail

JLL Brokers $17M Sale of Retail Center on Long Island

by Alex Patton August 15, 2019

LONG ISLAND, N.Y. — JLL has brokered the $17 million sale of Hubbard’s Commons, a 65,970-square-foot, grocery-anchored retail center on Long Island. At the time of sale, the property was 98 percent leased to tenants such as Best Market, Rite Aid Pharmacy and Orangetheory Fitness. Jose Cruz, Steve Simonelli, Kevin O’Hearn, Michael Oliver, Andrew Scandalios and Grace Braverman of JLL represented the seller, Urban Edge Properties, in the transaction. ShopOne Centers REIT purchased the asset.

August 15, 2019

evergreen-walk-south-windsor-connecticut

Connecticut Development Multifamily Northeast Seniors Housing

Confluent, Harbor Retirement to Build 113-Unit Senior Living Community in South Windsor, Connecticut

by Alex Patton August 15, 2019

SOUTH WINDSOR, CONN. — A partnership between Confluent Development, a Denver-based developer, and Harbor Retirement Associates will break ground this month on HarborChase of Evergreen Walk, a 113-unit senior living community in South Windsor, located near Hartford. The 111,915-square-foot community will offer one- and two-bedroom units and access to The Promenade Shops at Evergreen Walk, an outdoor mall with retail and restaurants. Milwaukee-based Plunkett Raysich Architects designed the project, and Whiting-Turner is the general contractor. Construction is slated for completion in December 2020.

August 15, 2019

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