24 Hour Local Real Estate News

Middle Market Digest: This Week in the Northeast

Here is a roundup of the latest leases, sales and other transactions in the Northeast middle markets.

NEWS & NOTABLES

Lonnie HalpernROSELAND, NJ—A.Y.Strauss has brought on Lonnie J. Halpern and Aaron I. Messing as partners. Halpern joins the firm’s commercial real estate practice with over 15 years of industry experience. Previously he served as VP of BRT Realty Trust. He also founded CrowdMason, one of the first real estate crowdfunding companies. Halpern began his law career at Goodwin Procter and Hogan Lovells. Messing will served as founder of A.Y. Strauss’ corporate and technology practice. Previously, he practiced at OlenderFeldman and also served as chief privacy officer for Advanced Health Media. Earlier he was chief privacy and security officer for Avatar Solutions (acquired by Press Gainey).

BOSTON—Advisors Living, the residential platform of Boston Realty Advisors—which is the largest privately owned, full-service real estate brokerage firm in Massachusetts—has been engaged by Tishman Speyer to market the 106 boutique ocean homes at PIER 4. The residences at PIER 4 are located on the former site of renowned seafood restaurant Anthony’s Pier 4. Advisors Living CEO Janice Dumont, and Founder and Principal Jason Weissman are leading PIER 4’s sales team.

DEALTRACKER DAILY

NEW YORK CITY—JobDiva has signed a lease expansion, bringing the company to a total of 21,000 square feet at 44 Wall Street, Equity Office’s Downtown tower. Under the lease expansion, the company will occupy 3,300 square feet of pre-built space on the fifth floor, in addition to the 17,700 square feet it has occupied since 2010 on the 16th and 18th floors. JobDiva was represented in the transaction by John Thompson of Douglas Elliman Commercial. Equity Office was represented in-house by Zachary Freeman and Scott Silverstein, as well as by Adam Foster, Michael Rizzo, Zachary Price, and Caroline Merck of CBRE.

Wok to WalkLYNDHURST, NJ—Wok to Walk has opened its first New Jersey restaurant at The Shoppes on Broad, at 695 Broad St. in Newark. Ripco Real Estate’s Alison Horbach identified the location and negotiated the transaction on behalf of the tenant. Marta Person Villa of CBRE represented the landlord.

 

 

MONEY MOVES

PHILADELPHIA– National Real Estate Development has closed a $57 million loan with Wells Fargo & Co. to finance the construction of a second residential tower within the highly anticipated East Market project owned by National Real Estate Advisors, Joss Realty Partners, Young Capital and SSH Real Estate. After providing an initial $38.5 million loan to finance construction on the office building at 1100 Ludlow, the loan marks the second commitment that Wells Fargo has made in the 4.3 acre Center City development. Located at 1199 Ludlow St., the new 20-floor tower will be built above a two-story retail base and will house 240 new residential units.


BDCP aerialBOSTON—Transwestern has arranged a $28 million loan on behalf of First Highland Management and Development Corp. to refinance Boston | Dedham Commerce Park, a five-building industrial park at 63, 65, 67, 75-101 and 91 Sprague St. here. The permanent financing loan was arranged by Transwestern partner Chris Skeffington and VP Andrew Stone through East Boston Savings Bank. The project encompasses 654,050 square feet of Class A industrial space and is 82% leased to a roster of more than 30 tenants.

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