GREENWICH, N.J. — New Jersey-based Faropoint will develop a 73,800-square-foot industrial project in Greenwich, located on the Delaware Bay in Southern New Jersey. The site spans 9.2 acres along Swedesboro Road, and the facility will feature a clear height of 32 feet, two drive-in doors and an ESFR sprinkler system. Wendy Banscher of Fox & Roach represented the undisclosed sellers in the land deal, while Faropoint was self-represented. A construction timeline was not disclosed.
NEW YORK CITY — Marcus & Millichap has negotiated the $5.6 million sale of two apartment buildings totaling six units in the Carroll Gardens area of Brooklyn. The buildings at 431-433 Court St. were originally built in 1920 and house two-bedroom units, as well as a ground-floor retail space occupied by Citizens Bank. Matt Fotis of Marcus & Millichap represented the seller in the transaction and procured the buyer, both of which were local private investors that requested anonymity.
WASHINGTON, D.C. — BXP, a publicly traded office REIT that was previously known as Boston Properties Inc., has closed on its purchase of 725 12th Street, a 12-story office building in Washington, D.C.’s East End. The Boston-based firm acquired the 300,000-square-foot property for $34 million. The seller was not disclosed. BXP plans to demolish the office building and redevelop the site to make way for a new 320,000-square-foot, Class A office property. The REIT recently signed law firm McDermott Will & Emery to occupy approximately 150,000 square feet across the top five levels of the new office development. Lou Christopher, Jordan Brainard, Rob Copito and Clay Hammerstein of CBRE represented McDermott Will & Emery in the lease negotiations. Evan Behr of JLL represented the landlord. BXP expects to deliver the new office building in late 2028.
OXFORD, PA. — NAI Emory Hill has brokered the $3.4 million sale of a 15,600-square-foot retail strip center in Oxford, about 60 miles southeast of Philadelphia. Walgreens anchors the center, which was fully leased at the time of sale. Other tenants include sandwich shop Bigfoot’s Express, Domino’s Pizza and Vape2Go. Rich Dudek of NAI Emory Hill brokered the deal. The buyer and seller were not disclosed.
SCOTCH PLAINS, N.J. — Locally based REDCOM Design & Construction has broken ground on Front Street Housing, a 42-unit affordable housing project in Scotch Plains, about 20 miles west of New York City. K&M Facility Management is developing the three-story building. Information on specific income restrictions, floor plans and amenities was not disclosed. Completion is slated for summer 2026.
ORLANDO, FLA. — JLL has brokered the sale of a 513,560-square-foot industrial park located in Orlando’s Northwest Orange County submarket. LaSalle Investment Management purchased the property from an affiliate of PGIM Real Estate for an undisclosed price. Luis Castillo, Cody Brais and Taylor Osborne of JLL brokered the transaction. Built in 2018-2019, the five-building park represents Phase I of Princeton Oaks and was fully leased to 15 tenants at the time of sale. Justin Ruby and Joey Woodman of Foundry Commercial spearhead the leasing assignment at Princeton Oaks.
NASHVILLE, TENN. — Olympus Property has acquired The Griff, a 255-unit apartment community in Nashville’s Germantown neighborhood. The seller and sales price were not disclosed. Built in 2019, The Griff offers studio, one- and two-bedroom apartments ranging in size from 589 to 1,251 square feet. Amenities include a sky lounge with panoramic views, fitness center, private recording studio, riverfront courtyard, pet park and multiple levels of structured parking. The acquisition brings Olympus Property’s Tennessee portfolio to more than 1,200 units owned and managed.
LARGO, FLA. — Plaza Advisors has negotiated the sale of Central Park Plaza, a 47,653-square-foot shopping center in Largo, a city in the Tampa metro area. Jeff Berkezchuk and Jim Michalak of Plaza Advisors represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed. Situated on 4.3 acres along Missouri Avenue, Central Park Plaza was 95 percent leased at the time of sale to tenants including NAPA Auto Parts, Rent-A-Center, Boost Mobile and AMA Medical Group (Humana).
NEW YORK CITY — Evergreen Trading has subleased 20,309 square feet of office space at One SoHo Square in Manhattan. The media investment agency will relocate from 99 Hudson St. in the first quarter, doubling its footprint for the ensuing seven-year lease term. Michael Berman of JLL represented Evergreen Trading in the sublease negotiations. Zev Holzman of Savills represented the undisclosed sublessor. Stellar Management owns the property.
LOS ANGELES — Waterton has acquired G12, a mid-rise multifamily property at 1200 S. Grand Ave. in Los Angeles’ South Park neighborhood. Terms of the transaction were not released. Cushman & Wakefield arranged the deal. Built in 2017, G12 offers 347 studio, one- and two-bedroom apartments with loft options. Residences include private balconies, quartz countertops, stainless steel GE appliances, in-unit washers/dryers and vinyl plank flooring. The buyer plans to renovate the units with the addition of mobile kitchen islands and upgraded lighting and plumbing fixtures throughout. Community amenities include a lounge with fireplace, fitness center with a yoga/spin studio and Peloton bikes, an outdoor pool and sundeck with grilling stations, a sky terrace with a rooftop dog run, private underground parking and bike storage. Additionally, the property includes 17,000 square feet of street-level retail space.
