NEW YORK CITY — ABS Partners Real Estate has negotiated a 9,903-square-foot office lease at 2417 Third Ave. in the Mott Haven neighborhood of The Bronx on behalf of workforce development firm Grant Associates. Andy Udis and Alison Miller of ABS Partners represented Grant Associates, which also recently leased 7,000 square feet at 1825 Park Avenue in Harlem. Mitch Arkin of Cushman & Wakefield and Ellen Israel of JRT Realty represented the landlord, Savanna and Hornig Capital Partners.
PARAMUS, N.J. — WowMoms World, a family wellness concept that offers yoga, flotation therapy and massage therapy, will open a 6,200-square-foot store in Paramus, located north of Newark, this fall. The store will be the Canada-based franchise’s first location in the Garden State. David Townes and Alana Friedman of Cushman & Wakefield represented both the tenant and the landlord in the lease negotiations.
NEW YORK CITY — Arbor Realty Trust Inc. has provided a $4 million Freddie Mac small balance loan for the refinancing of a 13-unit apartment building located at 2402 Gerritsen Ave. in Brooklyn. Built in 1964 and recently rehabilitated, the property includes ground-floor retail space. Vincent Chiodo of Arbor’s New York office provided the loan, which carries a 10-year term and a 30-year amortization schedule. The borrower was not disclosed.
FRANKLIN TOWNSHIP, N.J. — Crow Holdings, the industrial development arm of Trammell Crow Co., has broken ground on Crow Holdings at Veronica Ave., a 925,000-square-foot speculative project in Franklin Township. The Class A property will be located between Trenton and Newark and is expected to open in the first quarter of 2020. Building features will include a clear height of 40 feet, 170 trailer parking spaces, 159 dock positions and 394 automobile parking spaces. Cushman & Wakefield will handle leasing of the facility.
WORCESTER, MASS. — CBRE has negotiated the sale of Quinn 35, a 250-unit multifamily community in Shrewsbury, an eastern suburb of Worcester. The Class A property is located near the Worcester MBTA (Massachusetts Bay Transportation Authority) Commuter Rail Station and was built between late 2017 and early 2018. Floor plans consist of one-, two- and three-bedroom units averaging 932 square feet. Amenities include a pool, fitness center, outdoor grilling stations and a 6,000-square-foot community room. Simon Butler and Biria St. John of CBRE represented the seller, Residences at Lakeway Commons Associates LLP, a joint venture between Criterion Development Partners and an international investment advisor, in the transaction. The duo also procured the buyer, an affiliate of New York City-based Bluerock Real Estate LLC. The sales price was not disclosed.
FARMINGTON, CONN. — Colliers International has arranged the sale of Pond View Corporate Center, a 236,302-square-foot office complex in Farmington, a western suburb of Hartford. The sales price was approximately $19.9 million. The two-building campus is situated on 34 acres off I-84 and offers amenities such as a fitness center, café, walking trails and a new conference and technology center. Tenants include Comcast, New England Asset Management and KBE Building Corp. John Cafasso, Ian Hunt and Conor LeBlanc of Colliers represented the seller, New Haven-based Fusco Farmington Associates LP, which sold the property to an undisclosed buyer.
NEW YORK CITY — Two construction management firms with offices in the Northeast will become part of the same operation on July 1. That’s when Consigli Building Group, a $1.6 billion company with five regional offices, acquires New York City-based T.G. Nickel & Associates. The acquisition will allow the new entity, which will be branded as Consigli, to take on new types of projects in the healthcare and academic spaces. Once the deal closes, Nickel CEO Thomas Nickel, who founded the company in 1998, will become CEO of Consigli’s New York City Metro Operations. Nickel co-founder Joseph Chiarelli will be promoted to president of the company’s New York City operations.
WALLINGFORD, CONN. — Emerald Hospitality Associates, an Ohio-based hotel development and management firm, has purchased Hilton Garden Inn Wallingford/Meriden, a 139-room hotel in Wallingford, about 14 miles northeast of New Haven. The property offers a lobby bar and restaurant, as well as a 24-hour fitness center, pool, business center and 4,400 square feet of meeting space. Emerald plans to implement a capital improvement program to enhance the outdoor spaces, lobby and other features. This acquisition was executed in partnership with Nimbus Investment Fund, an independent affiliate of Emerald Hospitality and Core Real Estate Capital. The seller was not disclosed.
BOSTON — HFF has arranged a $111.5 million loan for the refinancing of 80 Guest Street, a 245,720-square-foot office building located in the Allston/Brighton neighborhood of Boston. Designed by Elkus Manfredi, the property was the second building to be completed in the Boston Landing mixed-use development, which houses 1.9 million square feet of retail, office, residential and hotel space, including the world headquarters of New Balance. The property, which also features lab space and a 55,000-square-foot ice rink complex, is fully leased to four office tenants, including the Boston Bruins, as well as three ground-floor restaurant tenants. John Fowler, Riaz Cassum, Sam Campbell and Henry Schaffer of HFF arranged the fixed-rate loan through MetLife on behalf of the borrower, NB Development Group.
SPRINGETTSBURY TOWNSHIP, PA. — A partnership between affiliates of locally based developer Endurance Real Estate Group LLC and asset manager DWS Group will develop a 352,000-square-foot warehouse and distribution center in Springettsbury Township, located in York County. Construction began recently with the demolition of the existing structures on the 28.1-acre, rail-served site, which is located less than half a mile from I-83. Delivery is slated for the first quarter of 2020. Building features will include 36-foot clear heights, an ESFR sprinkler system, a 185-foot truck court and ample space for automobile and trailer parking.
