NEW YORK CITY — A partnership between two nonprofit organizations, The Community Builders and Ascendant Neighborhood Development, along with the New York City Housing Authority (NYCHA), will undertake a $272.6 million affordable housing renovation project in East Harlem. The project will rehabilitate 523 apartments that are housed across four buildings within two complexes — Metro North Plaza and Gaylord White Houses — and which are home to about 800 residents. The project will preserve the affordability of the units and will also enhance shared indoor spaces, common outdoor areas grounds and building infrastructural systems. Specifically, façades will be repaired; roofs will be repaired or replaced; new windows will be installed; and elevators will be overhauled. Financing for the project stems from the NYCHA Permanent Affordability Commitment Together (PACT). Wavecrest Management will handle day-to-day property management at the developments.
WYOMISSING, PA. — A partnership between Atlanta-based SJC Ventures and Washington, D.C.-based Concordia Group will develop Broadcast District at Spring Township, a mixed-use project in Wyomissing, a suburb of Reading. The development will feature 441 residential townhomes and single-family homes by Lennar and 341 apartments by SJC, as well as a 120,000-square-foot retail center that will be anchored by a 35,000-square-foot Whole Foods Market. Other retailers that have committed to the project include MyEyeDr., Sephora, Nothing Bundt Cakes, European Wax Center, Shake Shack, First Watch and BJ’s Restaurant & Brewhouse. Construction is scheduled to begin early next year.
DARIEN, CONN. — High Street Residential, a subsidiary of Trammell Crow Co., has broken ground on Thorndal Circle, a 175-unit multifamily project in Darien, located in southern coastal Connecticut. The five-building complex will be situated on an 11-acre site and will house studio, one- and two-bedroom units. Amenities will include a pool, clubhouse, coworking lounge, fitness center, spa and wellness area, golf simulator and a demonstration kitchen. Construction is scheduled for a mid-2027 completion.
NEW YORK CITY — Nagarro has signed a 41,854-square-foot office lease at 195 Broadway in Lower Manhattan. The provider of data and digital engineering services first subleased the entire 25th floor of the 1.1 million-square-foot building last November and has now entered into an eight-year direct lease. Sinclair Li, Peter Shikar and Connor DeSimone of CBRE represented the tenant in the lease negotiations. Jonathan Tootell, Tanya Grimaldo and Giannina Brancato represented the landlord, L&L Holding, on an internal basis.
WEST ORANGE, N.J. — Fitness operator Iron Culture Gym has opened a 26,000-square-foot flagship facility in West Orange, about 20 miles west of Manhattan. The space formerly housed a 1950s-era bowling alley known as Eagle Rock Lanes. Titan Construction Management served as the general contractor for the adaptive reuse project. New Jersey-based Sym Heller Development & Management owns the building.
SALEM, ORE. — Investors Capital Group has completed the disposition of Fruitland Meadow, an apartment property located at 5192 Caplinger Road SE in Salem, to a private buyer for $32 million. Situated on 8.1 acres, Fruitland Meadows offers 168 studio, one-, two- and three-bedroom apartments. Josh McDonald and Joe Nydahl CBRE represented the seller in the transaction.
GLENDALE, ARIZ. — JLL Capital Markets has arranged the sale of Inspira Arrowhead, a seniors housing property in Glendale. A fund managed by affiliates of Fortress Investment Group sold the asset to a confidential buyer for an undisclosed price. JLL’s Senior Housing Capital Markets team represented the seller and procured the buyer in the deal. The firm also arranged nonrecourse acquisition financing for the buyer through a regional bank. Cogir Senior Living has been retained by the buyer to continue operations at the property. Situated on 14.2 acres at 20240 N. 78th Ave., Inspira Arrowhead features 165 independent living, assisted living and memory care units. Onsite amenities include various dining options, a theater, fitness center, pool, salon, barbershop, dog park, social outings and bocce ball.
PORTLAND, ORE. — Ostling Group has completed the $22.3 million sale of Riverside Industrial Park, a two-building industrial park in Portland. Brett Hartzell, Charles Safely and Chris Reeves of CBRE National Partners, along with Eleanor Aschoff of CBRE, represented the seller in the deal. The name of the buyer was not released. Located at 13422-13444 and 13609-13625 N.E. Jarrett St., the two buildings offer a total of 129,142 square feet. The buildings feature 20-foot to 24-foot clear heights, truck access, 28 dock-high doors and 16 grade-level doors. At the time of sale, the asset was 29 percent occupied by eight tenants in logistics, constriction supply, retail and manufacturing/fabrication industries.
SPANISH FORK, UTAH — Newmark Mountain West has arranged the sale of a Class A warehouse and manufacturing property in Spanish Fork. The Boyer Co. sold the 212,685-square-foot asset to Arizona-based Cowley Cos. for an undisclosed price.
SCOTTSDALE, ARIZ. — Cushman & Wakefield has arranged the sale of Scottsdale Airpark Corporate Center, a two-building flex office and industrial property in Scottsdale. CEJ Scottsdale Airpark Corporate Center LLC sold the asset to SACC LLC for $13 million. Located at 15020 and 15030 N. Hayden Road, Scottsdale Airpark Corporate Center features 58,438 square feet of space that is occupied by Pillar Church, Copycats Printing and Vogel Prep. The property was built in 1985. Michael Kitlica, Tracy Cartledge and Robert Buckley of Cushman & Wakefield brokered the sale.