Property Type

Affinity Health Plan, Fresenius Medical Care North America Leases Brings Metro Center Atrium to Full Occupancy

by Amy Works April 16, 2015

NEW YORK CITY — Simone Development Cos. has fully leased its new 370,000-square-foot mixed-use complex, Metro Center Atrium in the Bronx. Affinity Health Plan has leased 102,507 square feet at the property and 2,000 square feet of storage space on the Hutch Metro Center campus, and Fresenius Medical Care North America has leased 21,105 square feet at the complex. With these leases the 370,000-square-foot Metro Center Atrium is fully occupied. Retail and healthcare tenants include LA Fitness, Applebee’s, Dunkin Donuts, Children’s Corner, Montefiore Medical Center, Calvary Hospital, Hanger Prosthetics, Parkchester Oral & Maxillofacial Surgery and Ophthalmologist Dr. Eric Wolf. Situated within Simone Development’s Hutchinson Metro Center, Metro Center Atrium features three floors of Class A office and medical space, retail and restaurant space, and a Marriott hotel.

April 16, 2015

Industrial New Jersey Northeast

Roddy Inc. Brokers Acquisition of 109,000 SF Industrial Property in New Jersey

by Amy Works April 16, 2015

DELRAN, N.J. — Roddy Inc. has brokered the acquisition of an industrial property located at 1813 Underwood Blvd. within Millside Industrial Park in Delran. AJ Real Holdings LLC, an entity related to Billows Electric, purchased the 109,000-square-foot property from Vosson LLC for an undisclosed price. The property will be leased, in its entirety, to Billows Electric. Situated on 6 acres, the property features 16 tailgate loading docks, 20-foot ceiling heights sloping to 18-foot clear heights and 5,700 square feet of office space. Sean Durkin of Roddy Inc. represented the buyer in the transaction.

April 16, 2015

Delaware Hospitality Northeast

TKo Hospitality Launches as New Hospitality Management Company

by Amy Works April 16, 2015

NEWPORT, DEL. — Business partners E. Thomas Harvey III, Kostas Kalogeropoulous and Vince DiFonzo have partnered to form TKo Hospitality. As an affiliate of Harvey, Hanna & Associates, the new company will specialize in hotel and restaurant operations, third-party management, sales, marketing, food and beverage, and franchise relationship management. TKo currently operates and manages Lighthouse Cove Resort in Dewey Beach, Del., which consists of the Hyatt Place Hotel, The Residences of Lighthouse Cove Condominiums, The Lighthouse Restaurant, Que Pasa Mexican Restaurant, Crabbers Cove Restaurant and The Bay Center, an on-site large event venue. TKo plans to have 1,000 rooms in its portfolio. Additionally, the company has three development projects in the pipeline and plans to acquire existing third-party management contracts. Harvey will serve as chairman, Kalogeropoulous as president/CEO and DiFonzo as COO for the newly formed company.

April 16, 2015

Loans New York Northeast Retail

NorthMarq Capital Closes $4.2M Refinance Loan for Retail Property in White Plains

by Amy Works April 16, 2015

WHITE PLAINS, N.Y. — NorthMarq Capital’s Greater Westchester New York/Connecticut office has arranged $4.2 million in refinancing for a retail property located at 350-360 Tarrytown Road in White Plains. The 10-year loan, provided by a local bank, features a 30-year amortization schedule. The 18,056-square-foot retail center is anchored by a Men’s Wearhouse. Robert Ranieri of NorthMarq Capital arranged the financing on behalf of the undisclosed borrower.

April 16, 2015

Massachusetts Northeast Retail

CBRE/NE Arranges $97M Sale of White City Shopping Center

by Amy Works April 15, 2015

SHREWSBURY, MASS. — CBRE/New England has arranged the sale of White City Shopping Center located in Shrewsbury. A joint venture between Charter Realty & Development and Acadia Realty Trust sold the property for $97 million. The 260,000-square-foot retail center is fully occupied by a variety of tenants, including Shaw’s Supermarket, Petco, Dress Barn, The Paper Store, Planet Fitness and Austin Liquors. Chris Angelone, Bill Moylan and Nat Heald of CBRE/NE represented the seller and procured the undisclosed buyer in the transaction.

April 15, 2015

Mixed-Use New Jersey Northeast

Advance Realty Starts Vertical Construction of Willow14 in New Jersey

by Amy Works April 15, 2015

HOBOKEN, N.J. — Advance Realty has started vertical construction at Willow14, a mixed-use development in Hoboken. Located at the corner of 14th Street and Willow Avenue, the seven-story building will feature 140 apartments, 20,000 square feet of retail space and a four-story, below-grade parking garage. The project’s residential component will feature a mix of studio, one-, two- and three-bedroom units, an outdoor pool, landscaped pool deck, fitness center, outdoor terrace areas with barbecues, bike racks and on-site parking. Completion is slated for first quarter 2016.

April 15, 2015

Loans Maine Multifamily Northeast

Fantini & Gorga Arrange $6.6M Loan for 95-Unit Multifamily Property in Maine

by Amy Works April 15, 2015

SOUTH PORTLAND, MAINE — Fantini & Gorga has arranged $6.6 million in permanent financing for a multifamily property located in South Portland. Originally built in 1943 as World War II housing, the property features 24 two-story buildings offer a total of 95 one-bedroom apartments. Derek Coulombe, Tim O’Donnell and Jason Cunnane of Fantini & Gorga arranged the financing for the undisclosed borrower.

April 15, 2015

Multifamily New Jersey Northeast

Marcus & Millichap Brokers $5.1M Sale of 72-Unit Apartment Community in New Jersey

by Amy Works April 15, 2015

HAMMONTON, N.J. — Marcus & Millichap has brokered the sale of an apartment community located in Hammonton. The 72-unit Colonial Court Apartments sold for $5.1 million. The buyer, a New Jersey-based builder, plans to address and correct the property’s deferred maintenance and structural issues. Nat Gambuzza of Marcus & Millichap represented the seller, a private investor, and the buyer in the transaction.

April 15, 2015

Loans New York Northeast Retail

Thorofare Funds $4.2M Adaptive Reuse Financing for Brooklyn Mixed-Use Property

by Amy Works April 15, 2015

NEW YORK CITY — Los Angeles-based Thorofare Capital has funded a $4.2 million adaptive reuse loan for a mixed-use property located in Brooklyn’s Bushwick neighborhood. The undisclosed borrower plans to implement a capital improvement program at the property, located at 599 Johnson Ave., to convert the asset into entertainment, food and beverage and retail use.

April 15, 2015

Office Texas

Rosemont Realty Signs Two New Tenants at Office Building in Dallas

by Haisten Willis April 15, 2015

DALLAS — Rosemont Realty LLC, a commercial real estate investment company, has signed two local tenants to leases at 9400 NCX for a combined 11,621 square feet. Camden Homes and Insurance Designers of Dallas each have committed to new leases for their respective headquarters at the 9400 NCX building, located at 9400 N. Central Expressway in Dallas. Camden Homes has consolidated three locations into the new 8,065-square-foot office space. Insurance Designers of Dallas has secured 3,556 square feet. Camden Homes is a private homebuilder in the Dallas-Fort Worth area. Insurance Designers of Dallas is part of an independent marketing organization. Stephen Holley with Jones Lang LaSalle represented the tenant in the transaction. The 16-story, 387,160-square-foot 9400 NCX building is currently undergoing a lobby and conference center renovation, to be completed this summer.

April 15, 2015

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