NEW YORK CITY — Cushman & Wakefield has brokered the $10 million sale of a 50-unit multifamily building in The Bronx. Built in 1955, the six-story, 57,558-square-foot building is located at 1150 Pelham Parkway near Albert Einstein College of Medicine, The Bronx Zoo and Fordham University. The building includes six four-bedroom units, 18 two-bedroom units and 21 one-bedroom units, as well as a 22-space parking garage. The surrounding area offers proximity to major hospitals and private medical facilities. Robert Shapiro, Jonathan Squires and Michael Fioravanti of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was also undisclosed.
CHICAGO — NAI Hiffman has brokered the sale of a 42,000-square-foot cold storage building in Chicago’s Brighton Park neighborhood for $7.5 million. In conjunction with the sale, NAI Hiffman also negotiated a six-year lease with the sole tenant, Moesle Meat Co. Built in 2016, the property is located at 5115 S. Millard Ave. John Basile of NAI Hiffman represented the buyer, Chicago-based Karis Cold Storage, a newly launched private investment and development company.
PARSIPPANY, N.J. — North Jersey Dermatology Center (NJDC) has signed a 1,343-square-foot medical office lease in Parsippany, approximately 35 miles west of New York City. The space is situated within Parsippany Commons, a three-story, 54,000-square-foot office building located at 3219 Route 46 East. The lease at Parsippany Commons marks NJDC’s fourth office location, joining its Rockaway, Clifton and Newfoundland offices. The company worked closely with Core Enterprises, the landlord’s in-house design and construction team, as well as Cerminara Architects, to design and execute the build-out of its new office space. Stephen Graziano of Colliers International represented the landlord, Larken Associates, in the lease negotiations.
CHARLOTTE, N.C. — Healthcare firm Centene Corp. has announced plans for its $1 billion East Coast headquarters in Charlotte. At full build-out, scheduled for 2032, the six-building campus will comprise 1 million square feet of office space, a fitness center, auditorium, multiple dining options, childcare center and Centene Tech University, a standalone building that will be used for corporate learning and development. The St. Louis-based company plans to break ground on the project in August. The campus will be built in phases, with Phase I scheduled for completion in the second half of 2022. Phase I will house 3,000 employees who will fill roles in information technology, finance, compliance, health economics, business analytics, human resources and clinical positions, with salaries averaging $100,089 annually. “Charlotte has great talent, excellent infrastructure and a real commitment to sustainable development,” says Michael Neidorff, chairman, president and CEO of Centene, a Medicaid-managed care organization. In 2024, Centene plans to begin construction of Phase II, which will accommodate another 3,000 employees. Charleston, South Carolina-based LS3P Architects designed the campus. The general contractor is St. Louis-based Clayco. LandDesign is the site planner and Uzun+Case is the structural engineer. Syska Hennessy Group will be providing the mechanical, electrical, plumbing and fire …
ATLANTA — AT&T informed CNN employees Monday that it will sell the CNN Center in downtown Atlanta, according to multiple media reports. AT&T took control of CNN in 2018 when it acquired Time Warner Media. Employees were notified that the move will not happen right away, as CNN will lease One CNN Center for another five years before moving to Time Warner’s Techwood campus in Midtown Atlanta. Ted Turner founded media giant at Techwood in 1980 before moving to downtown in 1987. It was not immediately clear if AT&T had a buyer lined up. CNN Center totals 150,490 square feet. The building includes a food court with tenants such as Starbucks, BurgerFi, Dunkin’, Moe’s Southwest Grill and Chick-fil-A. Retail tenants include the Atlanta Braves Dugout Store and Wells Fargo. The building is situated next to Mercedes-Benz Stadium, Centennial Olympic Park, State Farm Arena, Omni Hotel & Resort, the Georgia Aquarium, World of Coca-Cola and the College Football Hall of Fame.
CHARLESTON, S.C. — Iron Bridge Capital Partners will install a medical-grade air filtration and UV light system at Charleston Tech Center to prevent the spread of COVID-19 or other pathogens through its ventilation system. Iron Bridge, the lead developer of the 92,000-square-foot building, expects to open the property by the end of the year. Charleston Digital Corridor will anchor the property. The system will include an electrostatic filtration process similar to what surgery centers and medical facilities install to prevent the spread of airborne bacteria and viruses from room-to-room. Additionally, the system features a bank of UV lights that will treat any remaining pathogens, as well as reduce the amount of airborne mold and dust. In addition to the air treatment system, Charleston Tech Center will also include COVID-19 protocols and features such as occupancy maximums for elevators and shared conference spaces, hand sanitizer stations in the lobby and at each elevator, touchless faucets and the strong encouragement for workers and guests to wear masks in all common areas.
FAYETTEVILLE, TENN. — Newmark Knight Frank (NKF) has arranged the sale of two industrial buildings totaling 773,800 square feet in Fayetteville. The first building, located at 1810 Wilson Parkway, is a 695,000-square-foot property that was fully leased at the time of sale. The tenant was not disclosed but according to LoopNet Inc., the tenant is Goodman Manufacturing Co., which also sold the building in a sale-leaseback transaction. The property spans 57.5 acres and features block and insulated metal construction, 26-foot and 34-foot clear heights, 44,374 square feet of air-conditioned office space and a drive-in truck loading dock with an overhead crane. The second building comprises 78,800 square feet and is located at 1700 Wilson Parkway. The building was vacant at the time of sale. It features a 64,800-square-foot warehouse with 20-foot clear heights, five dock doors and one drive-thru dock, as well as a 10,400-square-foot office on the ground level. BSD Properties purchased 1700 Wilson Parkway, and 1810 Wilson Parkway LLC purchased 1810 Wilson Parkway. Michael Reid and Bart Hardison of NKF represented both the buyer and seller in the transactions. The sales price was not disclosed. The seller and sales price of 1700 Wilson Parkway were not disclosed.
WALDORF, MD. — The Republic Family of Cos. has broken ground on Waldorf Park, a 35,000-square-foot retail project in Waldorf. The development is expected to open in the first half of 2021. Committed tenants at Waldorf Park include Chick-fil-A, Jersey Mike’s and Starbucks. The property is located along Crain Highway, about 20 miles southeast of downtown Washington, D.C. Venture Construction Co. is the general contractor for Waldorf Park, and Jimmy Richards & Sons Excavating is the site contractor. The architect is Brasher Designs. Sandy Spring Bank provided construction financing.
NEW YORK CITY — SL Green has agreed to sell a 126-unit multifamily building in the Sutton Place neighborhood of Manhattan for $62 million. Located at 400 E. 58th St., 16-story property also includes approximately 3,800 square feet of commercial space. The transaction is expected to close during the third quarter and generate net cash proceeds to SL Green of approximately $20 million. SL Green and an undisclosed joint venture partner acquired the building in 2012 as part of an eight-building portfolio of retail and multifamily properties. SL Green owns 90 percent interest in the joint venture. At the time of sale, the rental units were approximately 97 percent leased. Simon Ziff and Marc Sznajderman of Ackman-Ziff Real Estate Group represented SL Green in the transaction.
LEVITTOWN, PA. — Colliers International has arranged the sale of a 40,000-square-foot warehouse in Levittown, a southern suburb of Trenton, for an undisclosed price. The Class C building is located at 1901 Hartel St. and was constructed in 1969. The property offers immediate access to the Pennsylvania Turnpike and Interstate 95. Jim Scott of Colliers represented the buyer, family-owned tire service company McCarthy Tire. Scott also represented the undisclosed seller.