Property Type

JLL Arranges Sale of Two Self-Storage Facilities Totaling 721 Units in Rhode Island

by Taylor Williams March 27, 2025

EAST PROVIDENCE AND HOPE VALLEY, R.I. — JLL has arranged the sale of two self-storage facilities totaling 721 units in Rhode Island that are operated under the Go Store It brand. The properties are located at 3346 Pawtucket Ave. in East Providence and 1115 Main St. in Hope Valley and offer climate- and non-climate-controlled space. Matthew Wheeler, Adam Roossien, Brian Somoza and Steve Mellon of JLL represented the seller, a partnership between Madison Capital Group and affiliates of Cerberus Capital Management, in the transaction. Griffin Guthneck, also with JLL, led a team that arranged an undisclosed amount of acquisition financing for the purchase, which was part of a larger, 2,327-unit portfolio deal that included three facilities in Houston. The buyer was not disclosed.

March 27, 2025

Robert-Wood-Johnson-University-Hospital-Ambulatory-Medical-Pavilion-New-Brunswick

Development Healthcare New Jersey Northeast

AST Completes 229,000 SF Healthcare Project in New Brunswick, New Jersey

by Taylor Williams March 27, 2025

NEW BRUNSWICK, N.J. — New Jersey-based developer AST has completed a 229,000-square-foot healthcare project in the Central New Jersey community of New Brunswick. The 15-story ambulatory medical pavilion is situated within the Robert Wood Johnson University Hospital campus. The facility, construction of which topped out in August 2022, expands outpatient access to care and clinical experts who support existing RWJBarnabas Health hospital services. Project partners included Jarmel Kizel (architect), O’Donnell & Naccarato (structural engineer), Langan (civil engineer) and Torcon Inc. (general contractor and construction manager).

March 27, 2025

Leasing Activity Northeast Office Pennsylvania

Gannett Fleming TranSystems Signs 100,000 SF Office Lease in Mechanicsburg, Pennsylvania

by Taylor Williams March 27, 2025

MECHANICSBURG, PA. — Gannett Fleming TranSystems has signed a 100,000-square-foot office lease in Mechanicsburg, about 115 miles west of Philadelphia. The architecture, engineering and construction (AEC) consulting firm is consolidating and relocating from nearby Camp Hill to Sterling Place Corporate Center. Jeremy Shyk of CBRE represented the landlord, a partnership between Sterling Place Associates and Waterday Properties, in the lease negotiations. Mark Gola of Gola Corporate Real Estate represented the tenant.

March 27, 2025

Leasing Activity New Jersey Northeast Restaurant Retail

Kushner Welcomes New Tenants to Mixed-Use Redevelopment in Eatontown, New Jersey

by Taylor Williams March 27, 2025

EATONTOWN, N.J. — New York City-based Kushner Cos. has welcomed five food-and-beverage users and one retailer to Monmouth Square, a mixed-use redevelopment of the former Monmouth Mall in Eatontown. The tenants — Whole Foods Market, Prince Street Pizza, Cava, Van Leeuwen Ice Cream, Offshore Coffee and STRONG Pilates — account for about 50,000 square feet of new leasing activity, which makes the project’s retail component 75 percent preleased. Bond RP represented Kushner in all negotiations.

March 27, 2025

Leasing Activity New York Northeast Office

Novartis Renews, Extends 15,865 SF Office Lease at 10 Bryant Park in Midtown Manhattan

by Taylor Williams March 27, 2025

NEW YORK CITY — Novartis has renewed and extended its 15,865-square-foot office lease at 10 Bryant Park in Midtown Manhattan. The deal keeps the Swiss pharmaceutical giant on the entire 12th floor of the building, which was originally constructed in 1902, via a five-year extension. David Stockel of CBRE represented Novartis in the lease negotiations. JLL represented the landlord, Property & Building Corp.

March 27, 2025

Development Florida Southeast Student Housing

Gilbane, CBRE Investment Break Ground on 702-Bed Student Housing Development Near University of Florida

by John Nelson March 27, 2025

GAINESVILLE, FLA. — A joint venture between Gilbane Development Co. and CBRE Investment Management has broken ground on Zaya, a 702-bed student housing development located near the University of Florida campus in Gainesville. The community will offer 352 units with bed-to-bath parity. Shared amenities will include a rooftop deck with a pickleball court, pool, clubhouse and fitness center; study rooms on each floor; a coworking lounge; leasing lobby with a coffee bar; and three courtyards with lawn games, outdoor cooking space and lounges. Site work has commenced for the development with completion scheduled for summer 2027.

March 27, 2025

Acquisitions Florida Office Southeast

JLL Brokers $31.5M Sale of Office Complex in Celebration, Florida

by John Nelson March 27, 2025

CELEBRATION, FLA. — JLL has brokered the $31.5 million sale of Celebration Office Center, a two-building office complex located at 1170 and 1180 Celebration Blvd. in Central Florida. Robbie McEwan, Hunter Smith and Blake Koletic of JLL represented the seller, Real Estate Value Advisors, in the transaction and procured the buyer, TMT Properties. Built in 2000 and 2001, the property is situated within the Celebration master-planned community and in close proximity to Walt Disney World and Universal Studios. Celebration Office Center was 98 percent leased at the time of sale.

March 27, 2025

Development Georgia Industrial Leasing Activity Southeast

Logistics Property Co. Signs Three Industrial Leases Totaling 373,000 SF in Covington, Georgia

by John Nelson March 27, 2025

COVINGTON, GA. — Logistics Property Co. LLC has signed three industrial leases totaling 373,000 square feet at Covington Commerce Center, a two-building industrial park in Covington, a city in Atlanta’s I-20 East submarket. The tenants were not disclosed, but Logistics Property Co. says the new users include both manufacturing and assembly tenants. The deals include a full-building lease at Building 100 and two deals at Building 200, where about 97,000 square feet remains available for lease. Myles Thomas of JLL represented the tenant in the Building 100 deal. Nathan Anderson and Matt Bentley of NAI Brannen Goddard represented the landlord in the lease deals. Civic partners at Covington Commerce Center include City of Covington, Newton County Economic Development and the Georgia Department of Economic Development.

March 27, 2025

Loans Retail Southeast Tennessee

BEB Lending Provides $10.3M Refinancing for Shopping Center in Nashville

by John Nelson March 27, 2025

NASHVILLE, TENN. — BEB Lending has provided a $10.3 million loan for the refinancing of South Plaza Shoppes, a 163,777-square-foot shopping center located at 5620 Nolensville Pike in Nashville. Tenants at South Plaza Shoppes include Ross Dress for Less, Burlington and Dollar Tree. The undisclosed borrower will use the loan to pay off existing debt, as well as cover leasing costs and planned capital expenditures at the property. Sean Silverbrook and Zach Feldman of BEB Lending originated the loan. This transaction represents BEB Lending’s first loan in Nashville and second loan in the state of Tennessee.

March 27, 2025

Leasing Activity Maryland Restaurant Retail Southeast

First National Realty Partners Adds Burlington, Two Restaurants at Brandywine Crossing in Maryland

by John Nelson March 27, 2025

BRANDYWINE, MD. — First National Realty Partners has signed three new tenants to join Brandywine Crossing, a 231,036-square-foot shopping center in Brandywine, a city roughly 27 miles from Washington, D.C. The new tenants at Brandywine Crossing include Burlington, which is backfilling a 25,310-square-foot space that previously housed Joann Fabric and Crafts, as well as Another Broken Egg Café and Buffalo Wild Wings Go. The new restaurants are set to open in the fourth quarter, and the Burlington store is expected to open in 2026. Brandywine Crossing sits on a 30-acre site and is anchored by a nearly 60,000-square-foot Safeway grocery store. Other existing tenants include Bonefish Grill, Panda Express, Marshalls, Advance Auto Parts, Truist Bank, Visionworks, Wells Fargo, AT&T and The UPS Store.

March 27, 2025

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