CARLSDADT, N.J. — Michael Halebian & Co., a provider and distributor of specialty flooring products, has signed a 35,000-square-foot industrial lease at 700 Gotham Parkway in Carlsdadt, a city located directly across from Manhattan in New Jersey. The property’s location offers proximity to major thoroughfares like the New Jersey Turnpike and Garden State Parkway, as well as Teterboro Airport. The owner of the 80,000-square-foot facility, Key Properties, purchased 700 Gotham Parkway as an abandoned former paint manufacturing facility in 1997 and repositioned the building from single- to multi-tenant use.
RICHFIELD, N.Y. — Marcus & Millichap has brokered the sale of Bronner Manor, a 24-unit apartment community in Richfield Springs, a city located in central New York. The property was built in 1981 and offers one- and two-bedroom units, as well as onsite laundry facilities. Chip Collins of Marcus & Millichap represented the seller, a partnership, and procured the buyer, a private investor, in the transaction. John Krueger of Marcus & Millichap also worked on the deal, which closed at a sales price of just over $1 million.
NEW YORK CITY — Foot Locker will open a 25,000-square-foot store at 605 W. 181st St. in Manhattan’s Washington Heights neighborhood. The locally based athletic footwear retailer will treat this location as a “power store” that offers experiential activities like creating customized sneakers and gaming zones. The store is slated to open this fall. New York-based Marx Realty owns the property in which the store will be housed.
HAZLETON, PENN. — An affiliate of Endurance Real Estate Group LLC has acquired a 242,960-square-foot industrial building in Hazleton, about 100 miles north of Philadelphia. The property, which is located about a mile from Interstate 81, currently serves as a warehouse/distribution facility with a clear height of 32 feet. Endurance, which is headquartered in metro Philadelphia, acquired the asset from Wisconsin-based printing company Quad Graphics, which is also the building’s former occupant. Endurance plans to implement a capital improvement program that will deliver as new roof, 13 new dock doors, an ESFR sprinkler system, new LED lighting throughout the space and landscaping improvements. John Plower, Chuck Rosien, Kim Jacobsen and Ryan Cottone of JLL brokered the deal on behalf of Quad Graphics.
SMITHFIELD, R.I. — High Purity New England Inc., a manufacturer and distributor of products for the pharmaceutical industry, has signed a 32,025-square-foot flex lease at Smithfield Office Center, about 15 miles northwest of Providence. Dan Cregan of CBRE represented High Purity New England in the lease negotiations. Alden Anderson, also of CBRE, represented the landlord, Thurber Properties LLC. Smithfield Office Center is a 38-acre, 180,000-square-foot campus located off Route 7 at the junction of Interstate 295.
COMMACK, N.Y. — The commercial real estate group of community bank Washington Trust has provided a $13.5 million loan for the refinancing of a 143-room Hampton Inn hotel located in Commack, a city on Long Island. The five-story hotel, which was built in 1988, is situated near the Long Island Expressway and offers standard amenities such as a pool, fitness center, a business center and meeting space. The borrower, an affiliate of hospitality owner-operator Chartwell Hotels, will use part of the proceeds to upgrade the lobby, refurnish the guestrooms and expand the exercise room. Specific loan terms were not disclosed.
NEW YORK CITY — JLL has negotiated the sale of a 12,452-square-foot mixed-use building in Manhattan for $11.5 million. The property, which includes residential and retail space, is situated between the Empire State Building and the Flatiron Building in the borough’s Midtown area and offers proximity to several subway stations. Brendan Maddigan, Stephen Palmese, Winfield Clifford, Ethan Stanton, Michael Mazzara and Clint Olsen of JLL represented the seller, local investment firm, Tsoumpas 157 Group LLC, in the sale. The buyer was private investor Shaun Ajodan.
LAWRENCEVILLE, N.J. — Marcus & Millichap has arranged the sale of Princeton Plaza, a 29,600-square-foot retail center in Lawrenceville, located roughly midway between New York City and Philadelphia. The asset, which was fully occupied at the time of sale, fetched a sales price of $2.9 million. Shannon Bona led the Marcus & Millichap team in marketing the property on behalf of the seller, a private investor, with help from Mark Taylor and Derrick Dougherty of Marcus & Millichap. Brian Hosey of Marcus & Millichap acted as the broker of record. Additional terms of the sale were not disclosed.
NEW YORK CITY — Extell Development Co. has topped out Brooklyn Point, a 68-story residential tower that will be the borough’s tallest building. Designed by Kohn Pedersen Fox with interiors designed by Katherine Newman of AD100, the property will ultimately offer studio, one-, two- and three-bedroom floor plans. Amenities will include a 65-foot indoor saltwater swimming pool, 35-foot rock climbing wall and yoga studio, Pilates and cycling studios and a squash/basketball court, as well as a spa with an infrared sauna, men’s and women’s steam rooms and a hot tub. Brooklyn Point is situated within City Point, a 600,000-square-foot mixed-use development that offers retail and entertainment space. Units will begin at $850,000 with the first closings slated for early 2020.
SOMERVILLE, N.J. — Sterling Properties has completed the leasing efforts of Soma, a 69-unit, four-story apartment complex in Somerville, about 45 miles southwest of New York City. The property, which offers studio, one- and two-bedroom floor plans ranging from 594 to 1,290 square feet, is currently at full occupancy. SOMA opened earlier this year and offers amenities such as a fitness center, tech lounge, bike share program and package acceptance. Located at 110 S. Bridge St., SOMA sits less than a mile from downtown Somerville and two blocks from the New Jersey Transit Somerville train station stop.