Northeast

Cliffs Climbing + Fitness to Open 40,000 SF Facility in Philadelphia on Dec. 7

by Alex Patton December 6, 2019

PHILADELPHIA — Cliffs Climbing + Fitness will open a 40,000-square-foot climbing and fitness facility called in Philadelphia on Saturday, Dec. 7. The Cliffs at Callow Hill will be located in a single-tenant warehouse at 1010 Callowhill St. and will offer climbing walls with classes and clinics for all skill levels, plus a private yoga studio and a full-scale fitness center. The facility was built by Caledonia Builders Inc. and the climbing walls were built by Walltopia. Michael Gorman and Stephen Carrozza of Metro Commercial Real Estate represented Cliffs in the lease negotiations.

December 6, 2019

Acquisitions Connecticut Hospitality Northeast

Noble Investment Group Acquires 135-Room New Haven Hotel at Yale University

by Alex Patton December 5, 2019

NEW HAVEN, CT. — Noble Investment Group has acquired the 135-room New Haven Hotel at Yale University. Noble plans to reposition the hotel to capitalize on the area, which includes Yale University and the Yale-New Haven Hospital, the primary teaching hospital for the Yale School of Medicine and the Yale School of Nursing. The hotel features a business center and fitness center as well as 1,000 square feet of flexible meeting space. The sales price was undisclosed.

December 5, 2019

Acquisitions Industrial New Jersey Northeast

JLL Brokers Sale of 50,993 SF Industrial Building in North Brunswick, New Jersey

by Alex Patton December 5, 2019

NORTH BRUNSWICK, N.J. — JLL has brokered the sale of a 50,993-square-foot industrial building in North Brunswick, located approximately 30 miles southwest of New York City. Situated at 1200 Airport Road, the building was completed in 1987 and features 19-foot clear heights, seven exterior docks, three drive-in doors and parking for 86 cars. The building was fully leased to three tenants at the time of sale. Gary Politi and Joel Lubin of JLL represented the undisclosed seller in the transaction. The sales price was also undisclosed. The buyer was VK Industrial V LP, a partnership between Venture One Real Estate and Kovitz Investment Group.

December 5, 2019

Leasing Activity New York Northeast Office

NKF Negotiates 20,378 Office Lease at Club Row Building in Manhattan

by Alex Patton December 5, 2019

NEW YORK CITY — Newmark Knight Frank (NKF) has negotiated a 20,378-square-foot office lease for Advantage Sales & Marketing at the Club Row Building in Manhattan. The company will consolidate its two former locations, located at 360 Lexington Avenue and 1500 Broadway, into a 15,093-square-foot space on the 14th floor and a 5,285-square-foot space on the ninth floor. Situated at 28 West 44th Street, the 372,000-square-foot Club Row Building features onsite shops and services including Japanese-Peruvian restaurant Sen Sakana, Dunkin’ Donuts, a barber, tailor, newsstand, post office and a bicycle room. Andrew Sachs, Tim Gibson, Josh Gosin and Matthew Augarten of NKF represented the landlord, APF Properties, in the lease negotiations. Peter Trivelas and Jason Ward of Cushman & Wakefield represented Advantage Sales & Marketing.

December 5, 2019

Leasing Activity New York Northeast Office

Northwell Health Signs 14,871 Office Lease on Long Island

by Alex Patton December 5, 2019

GREAT RIVER, N.Y. — Nonprofit healthcare provider Northwell Health has signed a 14,871-square-foot office lease at Sunrise Business Center in the Long Island city of Great River. Northwell Health will move into Building 300 at Sunrise Business Center, one of four buildings in the 389,490-square-foot complex. The campus features a full-service café and a 5,000-square-foot conference facility. Tenants include University Support Services, Vitamin World and St. Joseph’s College. The Feil Organization represented the landlord in the lease negotiations.

December 5, 2019

Leasing Activity New Jersey Northeast Retail

Basser Kaufman Secures 2,380 SF Retail Lease for Profile by Sanford in Marlboro, New Jersey

by Alex Patton December 5, 2019

MARLBORO, N.J. — Basser Kaufman has secured a 10-year, 2,380-square-foot retail lease for health and weight loss company Profile by Sanford in Basser’s Marlboro Plaza, located approximately 30 miles east of Trenton. The 303,503-square-foot shopping center has recently undergone an extensive renovation, including a new façade, landscaping and updated parking area. Major tenants include Hobby Lobby, T.J. Maxx, Kohl’s and PetSmart. Basser Kaufman was self-represented the lease negotiations. Marc Shein represented Profile by Sanford, also on an internal basis.

December 5, 2019

Development Mixed-Use New York Northeast

Brookfield Properties Underway on $950M Mixed-Use Development in The Bronx

by Alex Patton December 4, 2019

NEW YORK CITY — Brookfield Properties is underway on construction of Bankside, a $950 million mixed-use development that will be situated on 4.3 acres in the Mott Haven neighborhood of The Bronx. Plans currently call for 1,350 apartments, 30 percent of which will be marketed at affordable rates, a public waterfront park and promenade and 15,000 square feet of retail space. Hill West Architects is designing the project. Construction will be split into two phases, with the first phase delivering 450 apartments that are expected to open by the end of 2021.

December 4, 2019

Development New York Northeast Office

Safehold Inc. Underway on Construction of 670,000 SF Office Building in Manhattan

by Alex Patton December 4, 2019

NEW YORK CITY— Developer Safehold Inc. is underway on construction of a 42-story, 670,000-squre-foot office building in the Park Avenue corridor of Manhattan. Located at 425 Park Avenue in Manhattan, the Class A building will include office space and 18,000 square feet of retail space, the majority of which will be leased to restaurant users. Safehold entered into a joint venture with a sovereign wealth fund in September and now owns approximately 55 percent of the venture.

December 4, 2019

Acquisitions Hospitality Northeast Pennsylvania

MCR Acquires 149-Room Hampton Inn Near Philadelphia

by Alex Patton December 4, 2019

KING OF PRUSSIA, PA. — Hotel owner-operator MCR has acquired the 149-room Hampton Inn by Hilton Philadelphia/ King of Prussia, located on the northern outskirts of Philadelphia. The hotel is located at 530 West Dekalb Pike, less than one mile from the King of Prussia Mall. Amenities include a 24-hour fitness center, business center and 600 square feet of meeting and event space. The seller and sales price were not disclosed.

December 4, 2019

Acquisitions Massachusetts Northeast Retail

JLL Brokers $24.1M Sale of Wonderland Marketplace in Metro Boston

by Taylor Williams December 4, 2019

REVERE, MASS. — JLL has brokered the $24.1 million sale of Wonderland Marketplace, a 139,507-square-foot shopping center in Revere, a northeastern suburb of Boston. The shopping center is anchored by Marshalls, Big Lots and Planet Fitness and is adjacent to the Massachusetts Bay Transportation Authority Wonderland Station. Nat Heald and Chris Angelone of JLL represented the seller, a partnership between Winstanley Enterprises and Surrey Equities, in the transaction. Urban Edge Properties purchased the asset.

December 4, 2019

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