MILFORD, N.H. — JLL has negotiated the sale of Lordens Plaza, a 148,102-square-foot shopping center in Milford, a small town near Nashua just inside New Hampshire’s southern border. Shaw’s Supermarket anchors the property, which is located at the intersection of State Routes 101 and 101A. Other tenants include Rite Aid and Fresenius Medical Care. Nat Heald and Chris Angelone led the JLL team on behalf of the seller, LNR. Seattle-based Bridge33 Capital was the buyer.
PHILADELPHIA — CBRE has arranged a 62,000-square-foot lease in Philadelphia’s Center City for CommonGrounds Workplace, a San Diego-based coworking company. The new space will span two floors of the 32-story Market building, and the company’s in-house design division will renovate the space. The property will also house CommonGrounds’ East Coast regional office. Joseph Wolff, Kevin Maloney, George Cauffman and David Mendez of CBRE represented the landlord, Shorenstein Co. Jim Suber of Strategic Real Estate Advisory and Michael Gallagher of The Flynn and Co. represented CommonGrounds in the transaction.
BOSTON — Fortis Property Group, a New York City-based developer, will undertake a redevelopment project in downtown Boston that will convert the Dock Square Garage into a residential and retail property. Current plans call for 210 condominium units and 8,000 square feet of ground-floor retail space. Fortis will build a six-story vertical addition for the residential component and will renovate and upgrade the existing retail space. Stantec Architects is handling design. Completion is slated for 2023.
BETHEL PARK, PITTSBURGH and NORTH VERSAILLES, PA. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired three senior living communities in the Pittsburgh metro area. The properties include The Residence at Bethel Park in Bethel Park, The Residence at Whitehall in Pittsburgh and Point Pleasant in North Versailles. Grace Management will take over operations of all three communities. The Residence at Bethel Park is also a rebrand to reflect the new ownership of the community, which was formerly known as The Residence at Logan. Terms of the deal, including the seller and price, were not disclosed. CPF plans to make capital investments in the campuses.
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.
