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

BillFinneganPHILADELPHIA—Bill Finnegan will join JLL’s brokerage team here as SVP. A CPA (inactive), he comes to the firm from Cresa, where he served as an SVP in corporate tenant representation. Earlier, Finnegan held senior director roles at both Newmark Knight Frank and Cushman & Wakefield, and worked in the finance areas at Bristol Myers Squibb and GlaxoSmithKline.

paul_leoneBOSTON—Cushman & Wakefield has brought on Paul Leone as an executive director working in the Metrowest and South Market teams.The industry veteran of over 15 years specializes in the leasing and sale of office, industrial and research and development space. Prior to his new position, Leone worked as a partner at Transwestern RBJ, as an SVP at Richards Barry Joyce and Partners and a VP at Trammell Crow Co.

 

DEALTRACKER DAILY

2 Gateway Center in Newark.(Aaron Houston NJBIZ)NEWARK, NJ—WSP Parsons Brinckerhoff has signed a long-term lease for 22,000 square feet at 2 Gateway Center, C&K Properties’ Class A office building downtown here. The agreement is a renewal for the engineering professional services consulting firms, which has been a tenant at 2 Gateway for nearly 25 years. C&K Properties was represented by Dudley Ryan, SVP, Cheryl Hardt, first VP, and Kadeem Goodall-Reid, associate, of CBRE’s New Jersey office.

 

NEW YORK CITY—Capital One has renewed its lease for 6,822 square feet at 470 Park Ave. South. Newmark Grubb Knight Frank executive managing director Tom Citron, senior managing director Matthew Krell and managing director Jared Lack represented the landlords, TH Real Estate (an investment affiliate of Nuveen, formerly known as TIAA Global Asset Management) and Norges Bank Investment Management, in the transaction.

MONEY MOVES

Atlantic PointBELLPORT, NY—A joint venture between Pantzer Properties and Savanna has closed on its $208 million sale of Atlantic Point Apartments, a 795-unit, Class A apartment community in the Suffolk County community of Bellport, New York. This sale represents the largest apartment sale ever to occur in Long Island. A Holliday Fenoglio Fowler investment sales team—led by senior managing director Jose Cruz, managing director Kevin O’Hearn, directors Michael Oliver and Stephen Simonelli and supported by senior managing director Andrew Scandalios—represented the seller.

Manhattan AvenueNEW YORK CITY—Meridian Capital Group has arranged $30.4 million in agency financing on behalf of ABJ Properties to refinance two multifamily portfolios, consisting of three properties in Harlem and 12 properties in Morningside Heights that provide 161 units and three retail spaces. The five-year Freddie Mac small balance loans, provided by Capital One Multifamily Finance, feature  fixed rates of 3.20% and two years of interest-only payments. The transactions were negotiated by Meridian VP Baruch Pelcovitz.

 

 

 

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