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Northeast

The-Press-Wilmington
DelawareDevelopmentMultifamilyNortheast

Buccini Pollin Completes 243-Unit Multifamily Project in Wilmington, Delaware

by Taylor Williams

WILMINGTON, DEL. — Regional developer Buccini Pollin Group has completed The Press, a 243-unit multifamily project in Wilmington. Designed by Perkins Eastman, the 14-story building gets its name from the site formerly serving as the headquarters of the The News Journal. Units come in studio, one- and two-bedroom floor plans and are furnished with quartz countertops, stainless steel appliances and in-unit washers and dryers. Amenities include a pool, dog run, grilling areas and a landscaped pocket park. Information on starting rents was not announced.

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AcquisitionsMassachusettsNortheastRetail

Atlantic Capital Partners Arranges $32.6M Sale of Retail Building in Metro Boston

by Taylor Williams

FRAMINGHAM, MASS. — Regional brokerage firm Atlantic Capital Partners has arranged the $32.6 million sale of a retail building located in the western Boston suburb of Framingham. The building sits on a 9.5-acre site and is ground-leased to Lowe’s Home Improvement. Justin Smith, Chris Peterson, Sam Koonce, Danielle Turpin and Matt Ericson of Atlantic Capital Partners represented the seller and procured the buyer, both of which requested anonymity, in the transaction.  

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AcquisitionsIndustrialMassachusettsNortheast

JLL Negotiates Sale-Leaseback of 59,480 SF Industrial Property in Georgetown, Massachusetts

by Taylor Williams

GEORGETOWN, MASS. — JLL has negotiated the sale-leaseback of a 59,480-square-foot industrial property in Georgetown, located north of Boston. Built in 2004 on an 8.6-acre site, the warehouse and manufacturing building features a clear height of 21 feet and 71 parking spaces. Michael Restivo, David Coffman and Tommy Hovey of JLL brokered the deal. The seller/occupant was not disclosed. Anthony Cutone and Ryan Parker, also with JLL, arranged fixed-rate acquisition financing on behalf of the buyer, Equity Industrial Partners.

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AcquisitionsNew JerseyNortheastOffice

Marcus & Millichap Brokers $5M Sale of Office Building in Westfield, New Jersey

by Taylor Williams

WESTFIELD, N.J. — Marcus & Millichap has brokered the $5 million sale of a 10,369-square-foot office building in the Northern New Jersey community of Westfield. The two-story building at 1 Elm St. was originally constructed in 1922 and renovated in 2018 and was fully leased at the time of sale. Alan Cafiero and David Cafiero of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was also not disclosed.

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DevelopmentIndustrialNew JerseyNortheast

Levin Management Corp. Underway on 54,000 SF Industrial Project in Piscataway, New Jersey

by Taylor Williams

PISCATAWAY, N.J. — Levin Management Corp. is underway on construction of a 54,000-square-foot industrial project in the Northern New Jersey community of Piscataway. The building will be located within Rutgers Industrial Center and will feature a clear height of 35 feet, eight loading docks, 31 parking spaces and 2,000 square feet of office space. Cushman & Wakefield is the leasing agent. Initial occupancy is slated for early 2026.

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619-Grove-St.-Jersey-City
DevelopmentMultifamilyNew JerseyNortheast

Partnership to Develop 444-Unit Apartment Building in Jersey City

by Taylor Williams

JERSEY CITY, N.J. — A partnership between two New York City-based firms, SJP Properties and Claremont Development, as well as Battery Global Advisors and PCCP LLC, will develop a 444-unit apartment building in Jersey City. The site is located at 619 Grove St., and the 24-story building will be known as The Lucy and will include 13 affordable housing units. The amenity package will consist of a rooftop pool, sky lounge, sundeck with grilling stations, a penthouse bar, coworking and conference rooms, fitness center, media and game room, speakeasy, hydroponic garden, multiple lounges, a coffee bar, grab-and-go market and a pet grooming station. Michael Graves Architecture is designing the project, and KL Masters Construction Co. is serving as the general contractor. Mary Cook Associates is handling interior design. Kennedy Wilson is financing construction, which is scheduled to begin in the coming weeks. Cushman & Wakefield arranged the construction debt and structured the joint venture between SJP and Claremont. A tentative completion date was not announced.

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LoansMassachusettsNortheastRetail

PREIT Receives $56M in Financing for Darthmouth Mall in Southeastern Massachusetts

by Taylor Williams

DARTMOUTH, MASS. — Pennsylvania Real Estate Investment Trust (PREIT) has received $56 million in financing for Dartmouth Mall, a 671,000-square-foot regional shopping and dining destination in southeastern Massachusetts. Tenants that recently committed to Dartmouth Mall include Boot Barn, Locker Room by Lids and Chick-fil-A. Macy’s and J.C. Penney are the mall’s anchor tenants, and other major retailers include Burlington, ALDI, ULTA Beauty, AMC Theatres, H&M, Five Below and Old Navy. The 10-year loan carries a 7.1 percent interest rate for the first five years and matures in October 2035.

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Stamford-Towers
AcquisitionsConnecticutNortheastOffice

CBRE Brokers Sale of 326,468 SF Office Complex in Stamford, Connecticut

by Taylor Williams

STAMFORD, CONN. — CBRE has brokered the sale of Stamford Towers, a 326,468-square-foot office complex in southern coastal Connecticut. Stamford Towers is a two-building, transit-served development that is home to tenants such as Citigroup, Gerald Metals, H/2 Capital, Oaktree and Legal & General. Jeff Dunne, Steve Bardsley, Travis Langer and David Block of CBRE represented the seller, CBRE Investment Management, in the transaction. The quartet also procured the buyer, a joint venture between Lamar Cos. and Real Capital Solutions.

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AcquisitionsMultifamilyNew YorkNortheastRetail

JLL Arranges $25M Sale of Multifamily, Retail Building in Manhattan

by Taylor Williams

NEW YORK CITY — JLL has arranged the $25 million sale of an eight-story, 19,000-square-foot multifamily and retail building located at 149 Spring St. in Manhattan’s SoHo neighborhood. The building’s retail space, which is currently vacant, totals 2,254 square feet, and according to StreetEasy, the multifamily component encompasses seven units. Michael Mazzara, Ethan Stanton, Brendan Maddigan, Steve Rutman, Guthrie Garvin and Hall Oster of JLL represented the seller, local developer EMP Capital Group, in the transaction. The buyer was Creed Equities, a New York City-based family investment firm.

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35-S.-Jefferson-Road-Whippany-New-Jersey
DevelopmentIndustrialNew JerseyNortheastOffice

Marcus Partners Breaks Ground on Office-to-Industrial Conversion Project in Whippany, New Jersey

by Taylor Williams

WHIPPANY, N.J. — Boston-based development and investment firm Marcus Partners has broken ground on an office-to-industrial conversion project in Whippany, located in Northern New Jersey. The project will convert a 40,000-square-foot vacant office building that sits on a 6.6-acre site at 35 S. Jefferson Road into a 72,000-square-foot logistics facility with a clear height of 36 feet. Truist Bank is financing the project, which is expected to be complete in the third quarter of 2026. JLL arranged the construction debt.

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