PARK RIDGE, N.J. — NAI James Hanson has negotiated a 12,015-square-foot office lease renewal for Amica Mutual Insurance Co. in Park Ridge, a northwestern suburb of New York City. The space is located at One Maynard Drive, a three-story, 139,000-square-foot office building. Amica Mutual has been a tenant at the Class A building for nearly 20 years. The property is located near a fitness center and several retail centers, including the Wegmans-anchored Shoppes at Depiero Farm shopping center. Andrew Somple, Justin Allessio and Judy Troiano of NAI James Hanson represented the landlord, Sartak Holdings Inc., in the lease negotiations
STRATFORD, CONN. — Tapestry TeleHealth, a technology company that provides onsite and virtual healthcare to rural nursing facilities, has signed a 2,873-square-foot office lease in Stratford. The space is located at Merritt 8 Corporate Park, a 174,000-square-foot office complex. Yale New Haven Health Systems is the anchor tenant of the building. Randy Vidal of Vidal/Wettenstein LLC represented Tapestry TeleHealth in the lease negotiations. The landlord is a partnership of Merritt 8 Owner LLC and C/O Mountain Development Corp.
ALBANY, N.Y. — New York Gov. Andrew Cuomo has extended temporary business closures due to COVID-19 through April 29. The governor’s order to temporarily close nonessential businesses and schools to limit the spread of the virus began on March 22. Essential businesses, including grocery stores and pharmacies, have remained open, though many operate with limited hours and other restrictions. Some construction will also continue, including projects for housing, medical facilities and homeless shelters. Essential infrastructure and manufacturing businesses including public utilities, transportation and agriculture, will also remain operational. As of April 5, the New York Department of Health had reported 130,689 confirmed cases of the virus in the state.
BLUE BELL, PA. — JLL has arranged the sale of a 123,087-square-foot office building in Blue Bell, a northern suburb of Philadelphia. Located at 518 Township Line Road, the building was completed in 2001 and renovated in 2019 with a new lobby, conference center, café and fitness center. At the time of sale, the property was 80 percent leased to six tenants including Jefferson Blue Bell Surgery. Doug Rodio, Brett Segal and Brett Grifo of JLL represented the seller, a partnership between Kairos Real Estate Partners and Artemis Real Estate Partners. The team also procured the buyer, Apex Financial Advisors.
DENVILLE, N.J. — Cushman & Wakefield has brokered the $22.6 million sale of Denville Commons, a 73,000-square-foot, grocery-anchored shopping center in Denville, a northwestern suburb of New York City. Located at 3130 Route 10, the property is anchored by Corrado’s Market and was 90 percent leased at the time of the sale to 16 tenants including Goldfish Swim School and Orangetheory Fitness. Andrew Merin, David Bernhaut and Gary Gabriel led a Cushman & Wakefield team that represented the seller, Denville Commons Associates LP. The team also procured the buyer, Longpoint Realty Partners.
WEST ORANGE, N.J. — Atkins Cos. has sold Atkins Medical Plaza, a 38,500-square-foot medical office building in West Orange, a western suburb of New York City. Located at 1500 Pleasant Valley Way, the Class A medical property was 90 percent leased at the time of sale. Atkins Cos. constructed the property, which is located near Saint Barnabas Medical Center and Garden State Parkway, in 2001. Jim McGuckin and Brian Hosey of Marcus & Millichap represented Atkins Cos. in the transaction. Alan Cafiero and Ben Sgambati led a Marcus & Millichap team that represented the buyer, a private investor. The sales price was undisclosed.
EASTON, PA. — Domino’s Pizza has signed a 1,300-square-foot retail lease in Easton, approximately 70 miles north of Philadelphia. Located at 3011 William Penn Highway in William Penn Plaza shopping center, the retail space has been vacant for the last four years. Other tenants include Weis Supermarket, GameStop and several other retail businesses and restaurants. The new lease for the 1,300-square-foot space carries a 10-year initial term. The opening is slated for late spring or early summer 2020, in accordance with timelines established by the state regarding COVID-19. Seth Lacey and Scott Horner of Colliers International represented the landlord in the lease negotiations.
BRIDGEWATER, N.J. — Pharmaceutical company PTC Therapeutics has signed a 101,500-square-foot office lease in Bridgewater, located approximately 50 miles west of New York City. The company signed a long-term lease to occupy three floors at The New Jersey Center of Excellence, an 800,000-square-foot life sciences and laboratory office complex. Amenities at the center include a cafeteria, fitness center and conference center. Other tenants include Kashiv Pharma LLC, Nestlé Health Science and Ashland Global. Dan Loughlin led a JLL team that represented the landlord, Thor Equities, in the lease negotiations.
NEW YORK CITY — Kearny Bank has provided a $28.3 million loan for the refinancing of a 12-building multifamily portfolio in the Union Square and West Village neighborhoods of Manhattan. The portfolio spans nearly the entire block of 17th Street between Union Square and Irving Place, including 11 garden-style townhome buildings as well as a 24-unit building located on Cornelia Street in the West Village. John Leslie and Patrick Rhea of ABS Altman Warwick arranged the loan, which carries a fixed interest rate of 3.5 percent with three years of interest-only payments, on behalf of an undisclosed borrower.
READING, PA. — Arizona-based cannabis grower and retailer Harvest Health & Recreation has acquired Reading-based grower Franklin Labs LLC for $15.5 million in cash and a $10 million promissory note. The acquisition of the company included a 46,800-square-foot cultivation and processing facility in a former Pepsi warehouse, located at 1800 Centre Ave. in Reading. Harvest owns and operates five medical cannabis dispensaries in Pennsylvania and plans to begin growing and processing at its new facility during the second quarter of this year. The Pennsylvania Department of Health defines medical cannabis dispensaries and healthcare providers as essential services that will remain open during the COVID-19 crisis.