Northeast
Upstate NY Mall Changes Hands for $30M
Douglas Development Corp. purchased the 961,800-square-foot shopping center in a suburb of Buffalo, with plans to revitalize and rebrand the struggling asset. The deal included an adjacent Wegmans grocery store.
Extra Space Storage Breaks Ground in NJ
Homestake Capital and Harvestate Group have started construction on a 595-unit self storage asset in Winslow, N.J. The facility is scheduled for completion by early 2020.
Record Numbers at Port of NY, NJ Track Logistics Boom
The seaport logged its highest cargo volume ever, rising to second place nationwide, which bodes well for the thriving local logistics sector.
Japan’s Consulate General Renews Manhattan Lease
The agreement follows a host of new and extended commitments at 299 Park Ave. since Fisher Brothers announced plans to renovate the 1.2 million-square-foot office tower.
Gerard Staudt to Lead New Dispositions Group for Savills
Staudt will be responsible for the company’s new service focused on delivering timely cash flow for clients’ surplus real estate though leasing, sales and sale-leasebacks.
Publicis Groupe Inks 1 MSF Lease at NYC Home
The French advertising and public relations firm has renewed 680,000 square feet and signed on for an additional 280,000 square feet at Hudson Square Properties’ 375 Hudson St. office tower.
Boston-Area Single-Tenant Retail Building Sells for $19M
The 64,227-square-foot property is located in Shrewsbury, Mass., and is triple-net leased to Price Chopper, a family-owned grocery chain.
Marcus Partners Sells Connecticut Offices for $30M
The Boston-based private equity firm acquired the Westport, Conn., complex in 2014 and invested $5 million in a capital improvement program.
DivcoWest Buys NYC Trophy Building for $310M
The company has added a second Manhattan office asset to its portfolio with the acquisition of a 283,700-square-foot tower from Boston Properties.
Ardagh Group Adds Solar to Its NJ Plant
The company’s facility in Bridgeton, N.J., is powered by a 5.5 net-metered solar project. In addition, the facility holds an Energy Star plant certification.