WOODBURY, N.Y. — E.W. Howell Construction Group has completed Orchard Estate of Woodbury, an 89-unit assisted living and memory care community in Woodbury, a city on Long Island. Benchmark Senior Living is the developer and operator of the community. Orchard Estate of Woodbury is the second Benchmark project on Long Island, following Whisper Woods at Smithtown, which opened in 2018. E.W. Howell also served as general contractor on that project.
BUFFALO, N.Y. — JLL has brokered the $8.3 million sale of Bunzl Distribution Center, a 152,000-square-foot industrial property in Buffalo. The facility features 25-foot clear heights, 27 front-loading dock doors and office space. At the time of sale, the property was 100 percent leased to packaged food distributor Bunzl Midatlantic LLC. Jose Cruz and Tyler Peck of JLL represented the seller, Foxfield Industrial, in the transaction. Michael Pagniucci of JLL secured a long-term, fixed-rate acquisition loan through an undisclosed life insurance company for the buyer, which was also undisclosed.
HAZLET, N.J. — Marcus & Millichap has negotiated the $4.4 million sale of a 14,112-square-foot retail property in Hazlet, located approximately 25 miles south of New York City. At the time of sale, CVS occupied the property’s anchor space on a 20-year lease.Alan Cafiero, Ben Sgambati and David McLaughlin of Marcus & Millichap represented the seller, a limited liability company. Other terms of sale were not disclosed.
With a large influx of some of the world’s best and brightest residents, Boston has evolved from a regional powerhouse into one of the world’s foremost innovative cities in less than 10 years. Boston is both the second-oldest and the third-densest major city in the United States, and since its founding 389 years ago, the city has experienced super-charged growth, urbanizing faster than almost all its peers. Because of that unprecedented growth, undeveloped parcels in desirable areas across the city are scarce, and developers are being forced to use creative ways to build through urban infill, reclamation and placemaking. Seaport: A New Hotbed The Seaport has become Boston’s designated area for office market growth. The Fallon Company, WS Development, Skanska, Tishman Speyer and Pembroke have all made their marks in this neighborhood by transforming surface parking lots into gleaming towers filled with office workers, residents and retailers. Companies like Alexion Pharmaceuticals, Foundations Medicine, Goodwin, PTC, PwC, Reebok, State Street and Vertex have responded by moving significant operations to this highly dynamic neighborhood. Not surprisingly, when Gillette decided to put 6.5 acres of excess waterfront land on the market, developers recognized the opportunity and responded accordingly. Related Beal purchased the site …
ORANGE, CONN. — CBRE has arranged the $35 million sale of Grand Reserve Orange, a 168-unit apartment community located in Orange, a western suburb of New Haven. Built in 2005, Grand Reserve Orange offers one-, two- and three-bedroom floor plans with amenities including a fitness center, resident clubhouse and pool. Jeffrey Dunne, Gene Pride, Eric Apfel, Simon Butler and Biria St. John of CBRE represented the seller, Fairfield Grand Reserve LLC. The team also procured the buyer, a private New Jersey investment firm.
ANDOVER, MASS. — Condyne, a Massachusetts-based developer, has sold 160 Dascomb Road, a 125,609-square-foot research facility in Andover, located approximately 20 miles north of Boston, for $26.2 million. The facility was 100 percent leased to Lockheed Martin and data and security company Accu-Tech at the time of sale. Boston Private Bank provided $17.2 million in acquisition financing. Coleman Benedict, Matthew Sherry, Kerry Hawkins, Ben Sayles and Michael Restivo of JLL represented Condyne in the transaction. An affiliate of Northbridge Partners was the buyer.
MOUNT LAUREL, N.J. — Colliers International has brokered the $10.6 million sale of the Fellowship Business Center, a 96,000-square-foot office complex in Mount Laurel, an eastern suburb of Philadelphia. The five-building complex is situated within the East Gate Business Park and was 96 percent occupied at the time of sale. Ian Richman and Marc Isdaner of Colliers represented the seller, The Bloom Organization. The buyer was a private investor.
YORK, PA. — ROCK Commercial Real Estate has negotiated a 19,000-square-foot industrial lease for Continental Paper Grading in York, located approximately 55 miles north of Baltimore. The space is located at 3635-3725 Board Road, a 152,700-square-foot industrial complex with 12 drive-in doors and 26 docks. The landlord is Fielder Enterprises. Ted Turnbull and Jason Turnbull of ROCK brokered the transaction.
NEW YORK CITY — Non-profit community development organization Westhab has a signed an 8,233-square-foot office lease at Union Crossing, a 275,000-square-foot office building in the Bronx. The eight-story building was formerly a warehouse, and following renovations earlier this year, now offers office, light industrial and ground-floor retail space. With a lease term of 10 years, Westhab is the building’s first tenant since the renovation and its space will be built out. Madison Realty Capital, The Bluestone Group, Altmark Group and Gali Management partnered with JRT Realty to lease Union Crossing.
BOSTON — Hawkins Way Capital has acquired the historic 143-room Copley Square Hotel in the Back Bay neighborhood of Boston. Built in 1891, the Copley Square Hotel is situated within close proximity of Newbury Street retail and culture center, several colleges and universities, Fenway Park and the Prudential Center. Amenities include 1,500 square feet of meeting and event space, a 24-hour fitness center, a lower-level nightclub and 11,800 square feet of retail space — including 2,800 square feet of vacant ground-floor retail. Denny Meikleham, Alan Suzuki and Matt Enright of JLL represented the seller, insurance service company Barings LLC, in the transaction.
