By the Numbers

NEW YORK CITY—Overall Manhattan leasing activity fell slightly from eight million square feet to 7.6 million square feet in the third quarter, according to a new report from Savills Studley. The brokerage firm reports that if leasing activity continues on the same pace set in the first three quarters of the year, leasing will cross the 30-million-square-foot plateau by the end of 2016—an increase from 28.1 million square feet in 2015.

BOSTON—The Board of Directors of the Boston Planning & Development Agency gave final approval on two residential housing projects—the Garrison Trotter Phase II in Roxbury and the PBX Residences in Chinatown—generating a total of 64 residential units, including 19 affordable units. The agency also approved the development plan for GE's headquarters, to be located in the Fort Point neighborhood The $200-million site, at 5 and 6 Necco Court, will consist of approximately 388,070 gross square feet.

News & Notables

NEWARK, NJ—Hill International has received a five-year contract from the Port Authority of New York and New Jersey to provide professional program and project delivery and advisory services for the Newark Liberty International Airport redevelopment program. Hill will be supporting the construction of the Terminal A redevelopment, set for completion by the end of 2022.

NEW YORK CITY—Newmark Grubb Knight Frank chairman Jeffery Gural, American Airlines and the PANY/NJ next will underwrite the first-ever Big Apple Honor Flight next year. Departing from JFK Airport here to Washington, DC on April 29th, the city's “Greatest Generation” veterans of World War II, will experience the “Flight of a Lifetime,” courtesy of non-profit group Hudson Valley Honor Flight. Additional sponsors of the event, along with veteran participants, are still being sought.

MELVILLE, NY—The Commercial Industrial Brokers Society of Long Island honored Desmond Ryan, executive director of the Association for a Better Long Island, with its annual Achievement Award. The award recognized Ryan's 25 years of assisting with the activities of the real estate brokers group.

Money Moves

DALLAS, TX—Holliday Fenoglio Fowler has arranged post-acquisition financing for a portfolio of 154 convenience and gas station sites totaling 97.8 acres across the northeastern United States. HFF represented the borrower—a subsidiary of a private real estate investment fund advised by Crow Holdings Capital–Real Estate—to secure the five-year, floating-rate acquisition loan with 18 months interest only. The loan was provided by a consortium of lenders, led by Capital One and BMO Harris. The portfolio comprises 88 sites in New York, 45 in Massachusetts and 11 in Connecticut. Additionally, there are seven sites in New Hampshire, two in Rhode Island sites and one in Pennsylvania.

SOUTH KINGSTOWN, RI—Washington Trust's Commercial Real Estate Group has provided commercial financing to Village Hotel Associates for the refinancing of a 100-room Hampton Inn hotel here. Village Hotel Associates is operated by South County Commons Hospitality. A Washington Trust spokesperson declined to cite the amount of capital received, noting the wishes of the borrower.

A pair of mixed-use properties changed hands in Boerum Hill, Brooklyn while a sprawling portfolio of convenience and gas station sites across the Northeast have been sold, spotlighting this wrap-up of recent deals and news in the region.

Deal Tracker Daily

NEW YORK CITY—Representing Michael Alvandi's City Urban Realty, Cushman & Wakefield sold two adjacent mixed-use properties at 574-576 Atlantic Ave. in Boerum Hill, Brooklyn for about $9 million or $841.35-per-square-foot. The four-story properties, acquired by Joseph Braha of MJ Property Group, combine for approximately 10,4000 square feet—divided into three commercial units and five residential units. Cushman's Jonathan Hageman exclusively arranged the transaction with Stephen Palmese.

HASBROUCK HEIGHTS, NJ—Two lease renewals have been completed at Heights Plaza here. Nymox Pharmaceutical Corp. renewed its 4,800-square-foot lease while Primerica renewed its 2,850-square-foot lease at the 200,000-square-foot Class A building. Stephen Jennings, Alfred Sanzari Enterprises' VP of leasing and marketing, negotiated both transactions in-house. Lee Barnes of the Garibaldi Group represented Nymox Pharmaceutical Corp.

By the Numbers

NEW YORK CITY—Overall Manhattan leasing activity fell slightly from eight million square feet to 7.6 million square feet in the third quarter, according to a new report from Savills Studley. The brokerage firm reports that if leasing activity continues on the same pace set in the first three quarters of the year, leasing will cross the 30-million-square-foot plateau by the end of 2016—an increase from 28.1 million square feet in 2015.

BOSTON—The Board of Directors of the Boston Planning & Development Agency gave final approval on two residential housing projects—the Garrison Trotter Phase II in Roxbury and the PBX Residences in Chinatown—generating a total of 64 residential units, including 19 affordable units. The agency also approved the development plan for GE's headquarters, to be located in the Fort Point neighborhood The $200-million site, at 5 and 6 Necco Court, will consist of approximately 388,070 gross square feet.

News & Notables

NEWARK, NJ—Hill International has received a five-year contract from the Port Authority of New York and New Jersey to provide professional program and project delivery and advisory services for the Newark Liberty International Airport redevelopment program. Hill will be supporting the construction of the Terminal A redevelopment, set for completion by the end of 2022.

NEW YORK CITY—Newmark Grubb Knight Frank chairman Jeffery Gural, American Airlines and the PANY/NJ next will underwrite the first-ever Big Apple Honor Flight next year. Departing from JFK Airport here to Washington, DC on April 29th, the city's “Greatest Generation” veterans of World War II, will experience the “Flight of a Lifetime,” courtesy of non-profit group Hudson Valley Honor Flight. Additional sponsors of the event, along with veteran participants, are still being sought.

MELVILLE, NY—The Commercial Industrial Brokers Society of Long Island honored Desmond Ryan, executive director of the Association for a Better Long Island, with its annual Achievement Award. The award recognized Ryan's 25 years of assisting with the activities of the real estate brokers group.

Money Moves

DALLAS, TX—Holliday Fenoglio Fowler has arranged post-acquisition financing for a portfolio of 154 convenience and gas station sites totaling 97.8 acres across the northeastern United States. HFF represented the borrower—a subsidiary of a private real estate investment fund advised by Crow Holdings Capital–Real Estate—to secure the five-year, floating-rate acquisition loan with 18 months interest only. The loan was provided by a consortium of lenders, led by Capital One and BMO Harris. The portfolio comprises 88 sites in New York, 45 in Massachusetts and 11 in Connecticut. Additionally, there are seven sites in New Hampshire, two in Rhode Island sites and one in Pennsylvania.

SOUTH KINGSTOWN, RI—Washington Trust's Commercial Real Estate Group has provided commercial financing to Village Hotel Associates for the refinancing of a 100-room Hampton Inn hotel here. Village Hotel Associates is operated by South County Commons Hospitality. A Washington Trust spokesperson declined to cite the amount of capital received, noting the wishes of the borrower.