NEW YORK CITY — JLL has brokered the $6.4 million sale of a residential development site located at 3041 Webster Ave. in The Bronx. The site currently houses a two-story, 15,140-square-foot warehouse that is owned and occupied by retailer Sam’s Carpet, but has been rezoned for a residential use. Karl Brumback, Eric Tiefen and Brian Streilein of JLL represented Sam’s Carpet in the transaction. Bolivar Development was the buyer. A construction timeline was not disclosed.
NEW YORK CITY — Local development and investment firm Jonathan Rose Cos. has acquired Tower West Apartments, a 217-unit multifamily property in Manhattan’s Upper West Side, for $93.8 million. Located at 65 W. 96th St., the 28-story building features a ground-floor terrace, community room, playground and onsite laundry facilities. The buyer plans upgrade the lobby, amenities and energy systems. The sale did not include the retail component of the asset. Rose Community Management has taken over management of the property. The seller was Starrett Corp., which originally developed the building in 1971.
NEW YORK AND BOSTON — Swedish construction company Skanska has begun a $40 million rehabilitation project for railway company Amtrak. The project will include structural modifications and industrial equipment upgrades for three maintenance facilities located in Boston, New York and Washington D.C. Skanska originally built the facilities 20 years ago and was contracted again to upgrade them to accommodate the upcoming Acela 21 high-speed rail service trains. Construction is slated for completion in the first quarter of 2021, and the new trains will be placed into service late next year.
BETHLEHEM, PA. — Medical supplies distributor TwinMed has signed a 189,721-square-foot industrial lease in Bethlehem, an eastern suburb of Allentown. TwinMed will occupy a space at 1198 Feather Way in Steel City Trade Center, a partially completed Class A logistics facility. Construction of TwinMed’s facility moved forward amid halts related to the COVID-19 outbreak. Another speculative distribution center is planned for completion later this year, which will bring the total footprint of the development to 294,240 square feet. Mark Chubb, Michael Zerbe, Summer Coulter and Christopher Volkert of Colliers International represented TwinMed in the lease negotiations. Vincent Ranalli of CBRE represented the owner and developer, a joint venture between Dallas-based Trammell Crow and New York-based Clarion Partners.
NEW YORK CITY — JLL has brokered the $10.8 million sale of 219-221 East 59th Street, two adjacent multifamily properties with ground-floor retail space in Midtown Manhattan. Each three-story building spans 10,560 square feet of space, including four residential units and 3,900 square feet of ground-floor retail space that were occupied by separate retail tenants at the time of sale. Tom Gammino and Clint Olsen led a JLL team that represented the seller, Gak Properties, in the transaction. Jeffrey Znaty of Kassin Sabbagh Realty represented the buyer, Cofinance Inc., the U.S. subsidiary of Cofinance Group SA.
PHILADELPHIA — The Wistar Institute, a nonprofit infectious disease and vaccine research institution, has preleased an 8,000-square-foot research lab space in Philadelphia. The space, which will be known as Wistar Discovery Center, will be located on the third floor of 3.0 University Place, a 250,000-square-foot life sciences office development in the University City area. Wistar will maintain its headquarters at 3601 Spruce St. The building is slated for completion in the third quarter of 2021. University Place Associates is the developer.
WEST CALDWELL, N.J. — Marcus & Millichap has arranged the $19.2 million sale of an industrial and self-storage facility in West Caldwell, western suburb of New York City. Located at 670 Passaic Ave., the property features 67,000 square feet of industrial space and 41,000 square feet of self-storage space across 760 units. Alan Cafiero, Ben Sgambati and Nicholas Bocchi of Marcus & Millichap represented the seller, a private investor, in the transaction. The team also represented the buyer, a local private investor. Both parties requested anonymity.
PHILADELPHIA — Patagon Ventures LLC, a Utah-based developer and investment firm, has acquired a 29,994-square-foot industrial building located at 533 E. Hunting Park Ave in Philadelphia for $1.6 million. Patagon plans to redevelop the property as a self-storage facility. A construction timeline was not released. Jason Ostach and Chris Pennington of Binswanger Commercial Real Estate Services represented Patagon in the transaction. Tony Rod of The Flynn Co. represented the seller, SBG Real Estate LLC.
PROVIDENCE, R.I. — Eastie Realty LLC, a Boston-based investment firm, has purchased a 13,818-square-foot medical office building in Providence for $3.5 million. Located at 111 Plain St., the property is fully leased to Rhode Island Hospital, the flagship hospital of Lifespan Health System. The building is also located near Hasbro Children’s Hospital, Women & Infants Hospital and Brown University’s medical campus. Joseph Alvarado, George Deoulas and Casey Valente of Newmark Knight Frank represented the seller, Legacy Real Estate Ventures, in the deal. The team also procured Eastie as the buyer.
HADDONFIELD, N.J. — Markeim Chalmers Inc. has negotiated the sale of a 6,400-square-foot office building in Haddonfield, a southeastern suburb of Philadelphia. Located at 116 N. Haddon Ave., the two-story property offers multiple spaces for small office tenants as well as ground-floor retail space. Kevin Burns of Markeim Chalmers represented the seller, Hutchinson Engineering LLC, in the transaction. Haddon Equities LLC was the buyer.