EDISON, N.J. — CBRE has negotiated a 346,858-square-foot industrial lease for international logistics firm JW Fulfillment Inc. in the Northern New Jersey city of Edison. The 699,000-square-foot facility at 300 Cedar Lane sits on 50 acres and features 40-foot clear heights, 123 loading docks, 161 trailer parking spaces and 389 car parking spaces. Bill Waxman, Mindy Lissner and Chris Griffith, along with Jimo Liu of Realmart Realty, represented the tenant in its site selection and lease negotiations. Chuck Fern of Cushman & Wakefield represented the landlord.
NORWOOD, MASS. — Newmark has arranged the $105 million sale of One Investors Way, a 54-acre office campus in Norwood, located southwest of Boston. The site houses a 236,566-square-foot office building that is primed for repositioning, as well as land for new development. Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell and Will Sleeper of Newmark represented the seller, a partnership between U.S. Realty Advisors and Bain Capital Real Estate, in the transaction. The buyer was not disclosed.
VALLEY COTTAGE, N.Y. — A joint venture between Los Angeles-based investment firm PCCP LLC and New Jersey-based Lincoln Equities Group has acquired a portfolio of three industrial buildings totaling 260,855 square feet in Valley Cottage, located north of New York City. The sale included a 23-acre neighboring parcel for future development. The properties were built between 2001 and 2007 and were fully leased to 21 tenants at the time of sale. The seller was not disclosed.
WILMINGTON AND METHUEN, MASS. — Locally based investment firm The Davis Cos. has purchased a portfolio of four industrial flex properties totaling 156,276 square feet in Wilmington and Methuen, two northern suburbs of Boston, for $44.2 million. The sale also included a fully entitled development site that can support up to 235,000 square feet of new product. Kerry Hawkins of JLL represented the seller, PGA Realty Co., a family-owned investment firm based in Massachusetts. The portfolio was 100 percent leased at the time of sale.
CHICAGO — Interra Realty has negotiated the sale of a 16-unit apartment building in Chicago’s Lakeview neighborhood for $5.7 million. Originally constructed in 1916, the property is located at 700 W. Grace St. Units range in size from 850 to 1,500 square feet. The property was fully occupied at the time of sale. Joe Smazal of Interra represented both the East Coast-based seller and the private local buyer.
MOUNT GILEAD, OHIO — Marcus & Millichap has arranged the $3.4 million sale of a 51,443-square-foot property occupied by Kroger in Mount Gilead, about 40 miles northeast of Columbus. The asset is located at 555 W. Marion St. Dustin Javitch, Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the buyer, a publicly traded REIT. Seller information was undisclosed.
BEDFORD PARK, ILL. — Garage Door Supplies has subleased 30,000 square feet of industrial space at 6558 W. 73rd St. in Bedford Park, a southwest suburb of Chicago. The 35,000-square-foot building features a clear height of 23 feet, five exterior dock doors and 300 car parking spaces. Jeffrey Provenza and Rollo Dace of Darwin Realty/CORFAC International represented Garage Door Supplies, which manufactures and distributes garage doors and related parts. William Strey of Cushman & Wakefield represented the sublandlord, Jerich USA. The sublease is for 18 months.
HOWELL, MICH. — Gerdom Realty & Investment has negotiated the sale of Bankers Square in Howell, about 55 miles northwest of Detroit, for an undisclosed price. The 10,772-square-foot office building is situated on the northeast corner of Michigan Avenue and Clinton Street. Howell Orthodontics and KNE Realty will occupy a portion of the property. Additional space remains available for lease. Bill McLeod of Gerdom represented the undisclosed buyer.
COLUMBUS, OHIO — Quantum Real Estate Advisors Inc. has brokered the sale of a single-tenant medical office building in Columbus for $1.4 million. Located at 4660 Roberts Road, the property is fully occupied by BrightView Health, a behavioral clinic specializing in the treatment of opioid addiction. Chad Firsel and Jason Lenhoff of Quantum represented the seller, a local real estate investment and development company. A Florida-based private investor was the buyer.
NEW YORK CITY — A joint venture between development and investment firm Olshan Properties and New York City-based O’Connor Capital Partners has broken ground on Parkchester Gardens, a 221-unit affordable senior living project in the Parkchester area of The Bronx. Units will be reserved for renters earning 50 percent or less of the area median income. Wells Fargo is financing the project in conjunction with the New York City Housing Development Corp. and the Department of Housing Preservation & Development. Completion is slated for the middle of 2023.