BOSTON — Newmark has brokered the sale of 343 Congress Street, a 114,677-square-foot office property in the Boston Seaport District. The five-story building, which is a historic structure that was originally built in 1888, is anchored by pet products e-commerce retailer Chewy and also houses two ground-floor restaurants. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell and William Sleeper of Newmark represented the seller, BentallGreenOak (BGO), in the transaction and procured the buyer, North Colony Asset Management.
FAIRFIELD, N.J. — Lee & Associates has negotiated the $3.6 million sale of a 34,445-square-foot office building located in the Northern New Jersey community of Fairfield. The three-story building at 383 U.S. Route 46 was originally constructed on 1.6 acres in the 1970s and has been owner-occupied since 1985. Peter Rasmusson of Lee & Associates represented the seller, The Glassman Family, in the transaction, and procured the buyer, an entity doing business as Fairfield Real Estate LLC.
WOODBURY, N.Y. — Rivian Automotive has signed a 41,000-square-foot industrial lease in the Long Island community of Woodbury. The electric vehicle maker is taking space at Crossways Logistics Center, a newly built, 145,200-square-foot facility, for its first Long Island service center. Nicholas Gallipoli, Frank Frizalone and Thomas DeLuca of Cushman & Wakefield represented the landlord, Rockefeller Group, in the lease negotiations. Roberto Rhett of GoodSpace NYC represented Rivian.
WILMINGTON, DEL. — Drug development and clinical research company QPS will undertake an office and life sciences expansion project within Delaware Technology Park in Wilmington, an initiative that is valued at roughly $16.6 million and is expected to add about 135 new jobs to the local economy. QPS is already the largest tenant within Delaware Technology Park and currently occupies all of the building at 3 Innovation Way and 90 percent of the building at 1 Innovation Way. The company plans to lease an additional 55,515 square feet of space, including more than 15,000 square feet of lab space, in a new building at 6 Innovation Way. QPS currently employs 336 full-time employees in Delaware.
HAMPTON, N.H. — Regional brokerage firm The Stubblebine Co. has arranged the $31.5 million sale of Appleton Oaks, a 113-unit apartment complex in Hampton, located near the Maine-New Hampshire border. The two-building complex was constructed in phases between 2004 and 2005. Specific information on floor plans and amenities was not disclosed. David Berman, James Stubblebine, David Stubblebine and Zack Hardy of The Stubblebine Co. represented the undisclosed seller in the transaction and procured the buyer, Seabrook Real Estate Partners.
GUTTENBERG, N.J. — A joint venture between Black Bear Asset Management, Bettina Equities Management and Echevarria Industries is underway on construction of a 50-unit multifamily project in Guttenberg, located across the Hudson River from Manhattan. The site is located at 416 69th St., and the building will rise seven stories and offer amenities such as a rooftop terrace, solarium lounge, fitness center, indoor garage parking with electric vehicle charging stations and a community center with grills and entertainment space. Completion is slated for 2028.
COHASSET, MASS. — Cushman & Wakefield has arranged a loan of an undisclosed amount for the refinancing of a 35,000-square-foot outpatient medical office building in Cohasset, a southeastern suburb of Boston. The three-story building is known as Cohasset Family Health Center. Tyler Morss of Cushman & Wakefield arranged the loan through an undisclosed bank on behalf of the owner, regional owner-operator Thomas Park Investments.
WELLESLEY, MASS. — Regional owner-operator Grander Capital Partners has completed the redevelopment of a 26,351-square-foot office building in Wellesley, a western suburb of Boston. Grander repositioned the vacant building at 70 Hastings St. to support healthcare uses, introduced new building systems, renovated the lobby and communal areas and upgraded the property’s landscaping. Grander also tapped regional brokerage firm Hunneman to lease the property, which is now 94 percent occupied.
FRANKLIN TOWNSHIP, N.J. — Woodmont Industrial Partners, which is a joint venture between New Jersey-based Woodmont Properties and Romark Logistics, has begun an office-to-industrial conversion project in Franklin Township, about 40 miles south of New York City. Woodmont plans to convert the 30.6-acre site at 400 Atrium Drive, which according to LoopNet Inc. currently houses a 395,000-square-foot office building, into a two-building, 370,000-square-foot industrial complex. Building 1 will be approximately 255,000 square feet and will offer a clear height of 40 feet, 44 loading docks and two drive-in doors. The second, 115,000-square-foot building will feature a clear height of 36 feet, 34 loading docks and two drive-in doors. Woodmont has partnered with an undisclosed life insurance company on the redevelopment and secured construction debt from New York Life that was arranged by John Alascio and Chuck Kohaut of Cushman & Wakefield.
MANCHESTER, CONN. — JLL has brokered the $12 million sale of a 190,646-square-foot distribution center in Manchester, an eastern suburb of Hartford. The site at 100 Sanrico Drive spans 10 acres within Manchester Industrial Park, and the property, which was fully leased at the time of sale, features a clear height of 45 feet and 24 loading positions. Michael Restivo, David Coffman and Ali Howard of JLL represented the seller, regional investment firm SkyREM, in the transaction. Sentry Commercial and Silver Edge Real Estate represented the buyer, B&D Holdings. Max Custer, Amy Lousararian, Thomas Didio Jr. and Christian Badalamenti, also with JLL, arranged a five-year, fixed-rate acquisition loan for the deal through life insurance company Ameritas.