WHITE PLAINS, N.Y. — Locally based developer Keeler Markwood Group will build a new medical office building in downtown White Plains, about 25 miles north of Manhattan. The building will be situated in close proximity to White Plains Hospital and its future outpatient care facility. JLL will handle leasing of the property, which is expected to be complete in 2023. A groundbreaking date has not yet been established.
HAMILTON, N.J. — Colliers International has arranged the $19.5 million sale of 5 and 8 Commerce Way, two industrial properties in Hamilton that encompass more than 120,000 square feet. The buildings, which were 95 percent occupied at the time of sale, feature 28-foot clear heights, loading docks and drive-in options. Jacklene Chesler, Matthew Brown and Frank Summers of Colliers represented the buyer and seller, both of which requested anonymity, in the transaction.
YONKERS, N.Y. — AMS Acquisitions has begun leasing 86 Main, a 70,072-square-foot, newly renovated office building in downtown Yonkers. The Class A, six-story building offers amenities such as a fitness center and a rooftop deck. Leasing starts at $24 per square foot and goes up to $40 per square foot. Space can be leased from five to 15 years. The building was originally built for Homes for America in 2005. AMS Acquisitions purchased the asset for $9.5 million in January 2018 from Madison Realty Capital.
BOGOTA, N.J. — A subsidiary of New Jersey-based PCD Capital LLC and New York-based Saber Real Estate Advisors LLC will develop a 421-unit multifamily project in Bogota, located across the Hudson River from Harlem. The property will be situated on 13 acres and feature an 8,000-square-foot clubhouse with a fitness center and media room, as well as outdoor amenities such as a pool, dog park and outdoor grilling area. The building will also house 8,000 square feet of retail space. M&T Bank and BBVA USA provided a $60 million construction loan for the project. John Alascio and Sridhar Vankayala of Cushman & Wakefield arranged the financing. A construction timeline has yet to be established.
NEW YORK CITY — Local hotel developer Sam Chang has broken ground on a 200-room hotel that will be located at 223 W. 46th St. near Times Square in Manhattan. Designed by Gene Kaufman Architects, the hotel will span 70,000 square feet and rise 21 stories. Amenities will include a fitness center and a ground-floor restaurant with outdoor seating. Completion of the property, which has yet to be named and branded, is scheduled for September 2021.
STAMFORD, CONN. — A joint venture between The Melohn Group and Drake Street Partners has acquired 181 Harbor Drive, a 91,040-square-foot office building in Stamford, for $33.5 million. The newly renovated building houses the headquarters of apparel retailer Vineyard Vines and is part of the 17-acre Shippan Landing waterfront office campus. Amenities at the campus include a beer garden, fitness center and a cafeteria, as well as volleyball, basketball and bocce courts. The seller was a partnership between Rubenstein Partners LP and George Comfort & Sons. Jeffrey Dunne, Steven Bardsley and Travis Langer of CBRE represented the seller and procured the buyer in the transaction.
PARSIPPANY, N.J. — Colliers International has brokered the $3.5 million sale of a multi-tenant office building located at 140 Littleton Road in Parsippany, located west of Newark. Constructed in the mid-1980s, the building spans 30,459 square feet and is leased to companies in the finance, technology and medical sectors. Jacklene Chesler, Matthew Brown, Frank Summers of Colliers represented the buyer and the seller, both of which requested anonymity, in the transaction. The property was 95 percent occupied at the time of sale.
PORTLAND, MAINE — Cardente Real Estate has negotiated the sale of Brighton Avenue Plaza, a 24,150-square-foot retail center located at 1041 Brighton Ave. in Portland, for approximately $3 million. Greg Perry of Cardente represented the buyer, All-American Family LLC, in the transaction. Charles Day of Porta & Co. represented the seller, 1041 Brighton Ave. LLC. The property was built in 1988.
ATTLEBORO, MASS. — A joint venture between Unison Realty Partners and Argosy Real Estate Partners has acquired Bristol Place, a 421,680-square-foot shopping center in Attleboro. Anchored by Market Basket, Bristol Place is situated at the interchange of I-95 and Route 1A, eight miles north of downtown Providence. Built in 1993 and renovated in 2013, Bristol Place is home to a number of other tenants, including Home Depot, Party City, Bob’s Discount Furniture, Hobby Lobby and TJ Maxx. The joint venture tapped The Wilder Cos. as the property manager and leasing agent for the center. This assignment marks the seventh retail property in the Northeast that Wilder manages on behalf of Unison. The seller and sales price were not disclosed.
MOORESTOWN, N.J. — CBRE has arranged the sale of 550 Glen Avenue and 600 Glen Court, a 187,569-square-foot light industrial portfolio in Moorestown, located east of Philadelphia across the Delaware River. The two properties were built in the late 1970s and include warehousing and distribution capacities. The buildings’ location near I-295 and the New Jersey Turnpike puts them in close proximity to both the Philadelphia and New York City areas. Michael Hines, Brad Ruppel and Brian Fiumara of CBRE represented the seller, an affiliate of Endurance Real Estate Group LLC. The trio also procured the undisclosed buyer in the transaction.
