NEW YORK CITY — National law firm Lowenstein Sandler has signed a 125,700-square-foot office lease renewal and expansion at 1251 Avenue of the Americas in Manhattan. The 54-story, 2.3 million-square-foot office tower is situated atop the Rockefeller Center subway hub in the borough’s Midtown area. David Falk, Peter Shimkin, Eric Cagner and Nick Berger of Newmark represented the landlord, Mitsui Fudosan America, in the lease negotiations. Michael Goldman and Philip Weiss of AttentivRE represented Lowenstein Sandler, which is extending its current lease and taking an additional 25,000 square feet on the 19th floor.
NEW YORK CITY — Lightstone has topped out Moxy Williamsburg, a 216-room hotel in Brooklyn. Designed by Stonehill Taylor, the property will offer amenities such as a fitness center, coworking spaces, meeting and event rooms, a rooftop terrace and multiple food and beverage concepts. Leeding Builders Group is managing construction of the project. The opening is set for late 2022.
EAST ORANGE, N.J. — New Jersey-based brokerage firm Gebroe-Hammer Associates has negotiated the $11.7 million sale of a two-property, 88-unit multifamily portfolio in the Northern New Jersey community of East Orange. The garden-style buildings at 255 Prospect St. and 284 Prospect St. total 42 and 46 units, respectively, across a variety of floor plans. David Oropeza and Debbie Pomerantz of Gebroe-Hammer represented the seller, F&C Realty Co. LLC, and procured the buyer, a private investor, in the transaction.
JACKSONVILLE, FLA. — Klotz Group of Cos. and KABR Group plan to redevelop Morocco Shrine Center, a former convention center in Jacksonville. The project, which is expected to cost more than $200 million, will be named The Village at Town Center. The 100,000-square-foot main temple building will be redeveloped to include 1,025 units that will be a mix of market-rate apartments, student housing and hotel rooms. Additionally, the property will include the new development of shops, restaurants and offices totaling 115,000 square feet, as well as public green space. Located at 3800 St. Johns Bluff Road S, the property is situated adjacent to the University of North Florida and St. Johns Town Center. Klotz and KABR Group are set to close on the property in early November, with construction of Phase I slated to begin in 2022. The construction timeline is predicted to take about five to seven years for completion.
TAMPA, FLA. — Atlanta-based Cousins Properties has acquired Heights Union, a 294,000-square-foot office property in downtown Tampa, for $144.8 million. Atlanta-based TPA Group and Heights master developer SoHo Capital were the sellers, according to the Tampa Business Journal. Built in 2020, Heights Union features two six-story buildings with parking provided. The office property is currently 93.4 percent leased with life sciences users representing 66 percent of the rent roll. Pfizer leases 106,000 square feet for a Global Capability Hub, and Axogen leases 75,000 square feet for its second headquarters and lab space. Additionally, White & Case leases 40,000 square feet for a mission critical global operations center. The office property is located within The Heights neighborhood, which is a live-work-play district located near the 2.6-mile Tampa Riverwalk that runs alongside the Hillsborough River. The district is also anchored by Armature Works, an adaptive reuse project of the former Tampa streetcar facility that includes 73,000 square feet of mixed-use space and over 20 restaurants and bars.
LOCUST GROVE, GA. — CJ Logistics America, a Des Plaines, Ill.-based supply chain company, has signed a 1 million-square-foot lease at Locust Grove Distribution Center in Locust Grove, about 37 miles south of downtown Atlanta. CJ Logistics signed a full-building, 10-year lease at 700 Price Drive with the landlord, Manulife Investment Management. Part of a 311-acre business park, Locust Grove Distribution Center is a recently constructed, Class A industrial facility that features dedicated ingress and egress, 36-foot clear heights, trailer parking and 146 dock doors. Tyler Fann and Adam Richards of Reliant Real Estate Partners oversee industrial leasing at Locust Grove Distribution Center. Lynn Reich, Suzanne Serino, Sean Boswell and Scott Plomgren of Colliers International represented CJ Logistics in the lease transaction.
ATLANTA — Sentral has completed Sentral West Midtown at Star Metals in Atlanta’s West Midtown neighborhood. Located at 1050 Howell Mill Road, Sentral West Midtown at Star Metals is a 409-unit community that offers a flexible living model in which residents and guests can live at the property for any period of time from one month to several years. Paces Properties and Allen Morris Co. are co-developers of Star Metals. The property offers studio, one- and two-bedroom floor plans that come either unfurnished or furnished. Community amenities include a curated year-round events calendar, rooftop pool and grilling area, fitness center, dog spa, networking café and various indoor and outdoor coworking spaces. Sentral West Midtown at Star Metals features food and beverage offerings including Prevail Coffee; Savi Provisions, a specialty grocer; Wagamama, a UK- based pan-Asian restaurant chain; and Sweetgreen, the fast-casual salad chain. Starting in 2022, qualifying residents at Sentral West Midtown will be able to use Sentral’s homesharing service, which will allow residents to rent out their apartments with short-term stays with a two-night minimum. Sentral will handle all homesharing logistics, including housekeeping, photography, insurance and 24-hour service. The homesharing program will enable residents to offset 25 percent or …
SLIDELL, LA. — Indianapolis, Ind.-based Kittle Property Group Inc. has opened The Lofts at Canterbury, a Phase III workforce housing development in Slidell. The property features one-, two- and three-bedroom apartments ranging from 685 square feet to 1,110 square feet. The 135-unit community has a total of 39 one-bedroom, 64 two bedroom and 32 three-bedroom apartment homes. The units feature faux-wood flooring, a washer and dryer in each home, balconies and ceiling fans. Garages are also available for rent to residents. Community amenities include a fitness center, game room, community room, business center and pool. The Lofts at Canterbury is a pet-friendly community. Located at 301 Spartan Drive, Lofts at Canterbury is located about 31.5 miles from New Orleans.
SOUTH BEND, IND. — Columbia Pacific Advisors Bridge Lending has provided a $66 million bridge loan to fund the acquisition of Prosper Apartments in South Bend. The 739-unit, garden-style apartment community is located at 3001 E. Jefferson Blvd. The property comprises 28 buildings across 47 acres. Amenities include a theater room, fitness center, indoor pool, billiards room, playground, dog park and community room. H&A Properties was the borrower. The property was 99 percent leased at the time of loan closing. Loan terms were not disclosed.
Greystone Funds $50.1M Bridge Loan for Acquisition of Six-Property Skilled Nursing Portfolio in Ohio
OHIO — Greystone has provided a $50.1 million bridge loan for the acquisition of a six-property skilled nursing portfolio in Ohio. The communities total 719 beds and are located in Berea, Cleveland, Clyde, Kent and Waterville. Fred Levine of Greystone originated the floating-rate, interest-only loan through Greystone’s nonrecourse bridge loan program. Greystone says it will work with the borrower to secure a permanent HUD-insured loan for the skilled nursing portfolio as soon as possible. The borrower was undisclosed.