EAST HANOVER, N.J. — Locally based developer Kushner has broken ground on a 265-unit multifamily project in the Northern New Jersey community of East Hanover. The community will feature a mix of one- to three-bedroom residences across four buildings and will include 53 affordable housing units. The amenity package will comprise a pool, grilling stations, outdoor gaming area, fitness center with a yoga studio, theater room, residents-only clubroom, a conference and coworking facilities. Completion is slated for the first quarter of 2025.
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STAMFORD, CONN. — Connecticut-based developer and private equity firm Building & Land Technology has completed Anthem, a 180-unit apartment community in Stamford’s Harbor Point neighborhood. The waterfront community offers one-, two- and three-bedroom units and amenities such as a pool, fitness center with a yoga studio, meditation center, golf simulator, outdoor kitchens, guest suites and communal workspaces. Rents start at approximately $2,900 per month for a one-bedroom unit.
HAMILTON, N.J. — Cushman & Wakefield has arranged the sale of a 171,269-square-foot industrial facility in Hamilton, a suburb of Trenton. Built in 2021, the property is a redevelopment of a shopping center and features a clear height of 36 feet, 40 loading positions, parking for 150 automobiles and trailer storage. Gary Gabriel, Kyle Schmidt and Ryan Larkin of Cushman & Wakefield represented the sellers, Penwood Real Estate Investment Management and Metrix Real Estate Services LLC, in the transaction. Principal Real Estate Investors acquired the property for an undisclosed price.
HAVERHILL, MASS. — Scully Co., a multifamily investment firm based in Pennsylvania, has acquired The Bixby, a 128-unit apartment complex in the northern Boston suburb of Haverhill. The transit-oriented property features studio, one-, two- and three-bedroom units. Amenities include a resident lounge with games and TVs, an entertainment kitchen, 24-hour fitness center, package handling room and a dog park. Adam Dunn and Chris Phaneuf of Berkadia represented the seller, Blackfin Real Estate Investors, in the transaction. Robert Falese, also with Berkadia, originated a $24.4 million Freddie Mac acquisition loan on behalf of Scully Co., which plans to upgrade unit interiors and common areas.
NEW YORK CITY — Corporate communications and public relations firm Prosek Partners has signed a 34,000-square-foot office lease at 28 East 28th Street in Manhattan’s Midtown South area. The tenant plans to relocate to the 15th floor of the newly renovated building, which houses a Whole Foods Market on the ground floor, from 105 Madison Avenue in the fourth quarter. Barry Zeller, Jonathan Serko and Barry Garfinkle of Cushman & Wakefield represented the tenant in the lease negotiations. Peter Duncan, Matt Coudert and Alex Bermingham represented the landlord, George Comfort & Sons, which owns the building in partnership with Jamestown and Loeb Partners Realty, on an internal basis.
RAVENNA, OHIO — Boston Group, which designs and manufactures custom metal and plastic displays for retail stores, hospitals and pharmacies, has unveiled plans to relocate its headquarters from Boston to Ravenna, about 15 miles east of Akron. The company will also relocate from an existing manufacturing facility in Hubbard, Ohio. The new headquarters and manufacturing facility will span 308,000 square feet of office and warehouse space. The property owner, Industrial Commercial Properties, acquired the asset in March 2021 and renovated interiors and exteriors. David Stubblebine and David Skinner of The Stubblebine Co. and Kevin Joseph of Weber Wood Medinger/CORFAC International represented Boston Group in the transaction.
BROOKFIELD, WIS. — Mid-America Real Estate Corp. has brokered the sale of Brookfield Marketplace in suburban Milwaukee for an undisclosed price. The 90,374-square-foot shopping center is home to Pick ’n Save, Panera Bread, First Midwest Bank, U.S. Cellular, Allstate and Sylvan Learning. Rick Drogosz and Dan Rosenfeld of Mid-America represented the sellers, General Capital Group and Thompson Cos. Jack Stead of Northstar REIS represented the buyer, Grocery Management Partners LLC.
CHICAGO — Blue Bottle Coffee has signed a long-term lease to open a 1,188-square-foot retail space at The Shops at Tribune Tower in Chicago. Founded in 2002, Blue Bottle Coffee is a coffee roaster and retailer with more than 60 cafes globally. The Shops at Tribune Tower location will be Blue Bottle’s second in the Chicago area. The shop is expected to open in early 2023. Blue Bottle’s location is directly adjacent to the newly opened Foxtrot Market and the upcoming Museum of Ice Cream, which is scheduled to open July 16. The Shops at Tribune Tower consists of 50,000 square feet of retail space that anchors the ground floor of the 36-story, 740,000-square-foot Tribune Tower, which has been transformed into 162 luxury condominiums. CIM Group owns the property.
BRANSON, MO. — Outside the Lines (OTL), a design-build construction company that specializes in water features, fountains, rockwork and themed environments, has completed a water-effects show fountain at Branson Boardwalk in Missouri. The water feature is in a cascading lake situated adjacent to the Aquarium at the Boardwalk, the first attraction developed at the entertainment complex that opened in fall 2020. The fountain plays two fully choreographed shows every half hour from 8 a.m. to 10:30 p.m. seven days a week. Branson Boardwalk is a dining, shopping and entertainment destination that is opening in phases.
BATAVIA, ILL. — Brown Commercial Group has negotiated the sale of an 18,240-square-foot industrial building in the Chicago suburb of Batavia for an undisclosed price. The property, which features outdoor storage space, is located on Pierson Drive. Mike Antonelli of Brown represented the seller, Rhondarosa Properties LLC, as well as the buyer, H5P LLC. The buyer is a road and snow maintenance company that was looking to expand into a space with outdoor storage for its equipment.