WOODBRIDGE, NJ—The Kislak Company brokered three multifamily transactions with a total of 178 residential units and four retail spaces in Essex County, New Jersey for $11.6 million. The separate transactions include the $6,5 million sale of two buildings with 106 residential units at 64 and 70-94 Union Avenue in Irvington; the $1.1 million sale of a building with 12 residential units and four retail spaces at 10101-1016 Clinton Avenue in Irvington; and the long term ground lease of Maple Valley Apartments, a 60-unit apartment complex at 744 Valley Street in Maplewood. The ground lease includes an upfront payment of $4 million and annual ground rent. Vice president Scott Davidovic represented the Union Avenue seller and senior vice president Joni Sweetwood represented the purchaser. Davidovic represented the seller and purchaser in the Clinton Avenue sale, and the lessor in the Maple Valley ground lease, while sales associate Andrew Scheinerman represented the lessee.

RARITAN, NJ—Larken Associates has begun construction on 14,000 additional square feet of built-to-suit office and medical space in Raritan, NJ. Larken acquired the Raritan Valley Professional Center, formerly known as the Henderson Building, in 2015. The property will expand to more than 70,000 square feet of prime professional real estate by September, 2017. The complex houses two buildings; a third is now under construction. Each received interior and exterior renovations including new landscaping, LED lights and signs for greater visibility.

ROCKVILLE CENTER, NY—KeyBank Real Estate Capital has arranged a $17.4 million Fannie Mae, first mortgage loan for Mill River Residences, in Rockville Centre, NY. The multifamily affordable housing property was built in 1970 and renovated in 2006. Of the 175 units, 95 are age-restricted and the remaining 80 are designated for households earning less than 60 percent AMI. Dirk Falardeau of Key's Commercial Mortgage Group arranged the financing with a seven-year term and 30-year amortization schedule. The loan was used to refinance existing debt.

JERSEY CITY, NJ—Mack-Cali Realty Corporation has signed a lease with 24 Hour Fitness at the company's shopping center at the intersection of Sylvan Way and Ridgedale Avenue in Hanover, NJ. 24 Hour Fitness will join anchor tenant Wegmans and will occupy approximately 40,000 square feet. Wegmans is currently under construction and is scheduled to open its 134,000-square-foot supermarket on July 23 of this year.

MADISON, NJ—Levin Management Corporation has been named leasing agent for 4,300 square feet of restaurant/retail space at Rose Hall, a new mixed-use development rising in historic downtown Madison. The upscale development – slated for completion in early 2018 – boasts a desirable mix of luxury rental housing, ground-floor restaurant/retail space and a host of on-site resident amenities. Separately, Kyle Farley, a senior leasing representative with Levin, is providing tenant representation services to Dig Inn Restaurant Group. The farm-to-table restaurant chain – known for serving locally sourced food that is healthy and affordable – is looking to expand into more than 50 new locations in New York, New Jersey and Connecticut by 2019.

RAMSEY, NJ—A 19,700-square-foot TD Bank branch building in Ramsey has come online for sale, Cushman & Wakefield announced this week. As exclusive agent, the commercial real estate services firm's Metropolitan Area Capital Markets Group is marketing the property at 1100 Lake Street. Located just off Route 17 North, the TD Bank branch is one of Bergen County's most active banking locations (with $300 million in deposits as of June 2016). TD Bank has occupied the site for 20 years and recently renewed its long-term, triple-net lease.

MALDEN, MA—Callahan Construction Managers, a Bridgewater-based full-service construction management firm, recently commemorated the start of construction on Jefferson Malden Center in Malden, MA with a symbolic “demolition event” hosted by the project developer Jefferson Apartment Group. This dynamic 546,881 square-foot mixed-use redevelopment project, slated for completion in 2019, will transform Malden Center and serve as the gateway to Pleasant Street, reconnecting the city's historic retail core to the Malden Center MBTA station. Jefferson Malden Center is designed by CBT Architects. The property will include 320 residential units, 45,000 square feet of office space and 22,500 square feet of street-level retail spaces. Amenities will include a new public park and common space, glass sky-bridge, a fitness center and yoga room, club lounge and conference space, a pool, pergolas, fire pits, outdoor kitchen and a roof deck. Pictured are (from left): Raj Bhangoo, Jack Callahan, Patrick Callahan, Phil Dinan, Tom Pennell, Sean Kennedy, Brian Curran, Domenic Galluzzo

CARLSTADT, NJ—NAI James E. Hanson has negotiated a lease for 13,000 square feet of industrial space at 70 Triangle Boulevard in Carlstadt, NJ, to Cavalli Cabinets. NAI Hanson's Russell Verducci and Eric Demmers represented Cavalli Cabinets in the lease transaction with the landlord, 70 Triangle Associates. 70 Triangle Boulevard is a 46,700-square-foot industrial building located in the heart of Carlstadt's industrial zone.

Notables

BOSTON, MA—Cushman & Wakefield vice chairman John Boyle has been awarded Cushman & Wakefield's inaugural Tenant Advisory Group (TAG) Outstanding Achievement Award at the firm's recent Global TAG Conference in Austin, TX. David Hiebert, vice chair of the awards committee, presented the inaugural award to Boyle in recognition of his exemplary contribution to Cushman & Wakefield, his ability to cultivate collaboration, his desire to continuously learn and improve his already substantial knowledge and skills, while at the same time mentor and train the next generation of brokers and support staff. Boyle is Vice Chairman at Cushman & Wakefield where he oversees tenant representation for Greater Boston and spearheads the Downtown Boston Group. He has over 30 years of experience executing transactions on a global basis.

WEST LONG BRANCH, NJ—Michael McGuinness, chief executive officer of the New Jersey Chapter of NAIOP, the Commercial Real Estate Development Association, will be honored at the 24^th Annual Monmouth University Kislak Real Estate Institute Leadership Excellence Award Dinner June 1 at the university's Woodrow Wilson Hall in West Long Branch. McGuinness will receive the Service to the Industry Award, which is given occasionally to an individual or organization who has provided exceptional service and support in advocacy, education or other services to the real estate industry.

NEPTUNE, NJ—The Allied Group's CEO, Robert Smith, was recently appointed to Hackensack Meridian Health Jersey Shore University Medical Center Foundation's Board of Trustees. The founder of the industry-leading renovation company, who lives and works in Monmouth County, NJ, was acknowledged for significant charitable and professional support of the hospital and the surrounding Neptune community. Coupled with this, The Allied Group's commercial project work has supported the revitalization of Neptune and the neighboring areas by upgrading local hotels and restaurants.

BROOKLYN, NY—WiredScore says 25 Kent, an eight-story class-A office development by Rubenstein Partners and Heritage Equity Partners, has achieved Wired Certified Platinum designation in recognition of its outstanding connectivity, technological infrastructure and readiness to adopt emerging technologies. 25 Kent will be the first ground-up development in Brooklyn to be Wired Certified Platinum, and the first property in Williamsburg to be Wired Certified at any level.

Here is a roundup of smaller transactions and news from around the Northeast in the past week.

Deal Tracker

NEW YORK, NY—Savills Studley has arranged a long-term leasing transaction for global architectural firm Woods Bagot at 30 Broad Street, a 49-story, 476,000-square-foot office property in the heart of the Financial District. The new lease encompasses about 11,000 square feet on the seventh floor of the building, with the option to expand. The firm expects to relocate from Midtown at 142 West 57^th Street to its new offices in July 2017.

PHILADELPHIA, PA —Holliday Fenoglio Fowler has been named to market for sale 3601 Market, a newly constructed, 363-unit, Class A luxury apartment tower in Philadelphia's University City submarket. HFF is marketing the property exclusively on behalf of the seller, a joint venture between Southern Land Company and Redwood Capital Investments.

WOODBRIDGE, NJ—The Kislak Company brokered three multifamily transactions with a total of 178 residential units and four retail spaces in Essex County, New Jersey for $11.6 million. The separate transactions include the $6,5 million sale of two buildings with 106 residential units at 64 and 70-94 Union Avenue in Irvington; the $1.1 million sale of a building with 12 residential units and four retail spaces at 10101-1016 Clinton Avenue in Irvington; and the long term ground lease of Maple Valley Apartments, a 60-unit apartment complex at 744 Valley Street in Maplewood. The ground lease includes an upfront payment of $4 million and annual ground rent. Vice president Scott Davidovic represented the Union Avenue seller and senior vice president Joni Sweetwood represented the purchaser. Davidovic represented the seller and purchaser in the Clinton Avenue sale, and the lessor in the Maple Valley ground lease, while sales associate Andrew Scheinerman represented the lessee.

RARITAN, NJ—Larken Associates has begun construction on 14,000 additional square feet of built-to-suit office and medical space in Raritan, NJ. Larken acquired the Raritan Valley Professional Center, formerly known as the Henderson Building, in 2015. The property will expand to more than 70,000 square feet of prime professional real estate by September, 2017. The complex houses two buildings; a third is now under construction. Each received interior and exterior renovations including new landscaping, LED lights and signs for greater visibility.

ROCKVILLE CENTER, NY—KeyBank Real Estate Capital has arranged a $17.4 million Fannie Mae, first mortgage loan for Mill River Residences, in Rockville Centre, NY. The multifamily affordable housing property was built in 1970 and renovated in 2006. Of the 175 units, 95 are age-restricted and the remaining 80 are designated for households earning less than 60 percent AMI. Dirk Falardeau of Key's Commercial Mortgage Group arranged the financing with a seven-year term and 30-year amortization schedule. The loan was used to refinance existing debt.

JERSEY CITY, NJ—Mack-Cali Realty Corporation has signed a lease with 24 Hour Fitness at the company's shopping center at the intersection of Sylvan Way and Ridgedale Avenue in Hanover, NJ. 24 Hour Fitness will join anchor tenant Wegmans and will occupy approximately 40,000 square feet. Wegmans is currently under construction and is scheduled to open its 134,000-square-foot supermarket on July 23 of this year.

MADISON, NJ—Levin Management Corporation has been named leasing agent for 4,300 square feet of restaurant/retail space at Rose Hall, a new mixed-use development rising in historic downtown Madison. The upscale development – slated for completion in early 2018 – boasts a desirable mix of luxury rental housing, ground-floor restaurant/retail space and a host of on-site resident amenities. Separately, Kyle Farley, a senior leasing representative with Levin, is providing tenant representation services to Dig Inn Restaurant Group. The farm-to-table restaurant chain – known for serving locally sourced food that is healthy and affordable – is looking to expand into more than 50 new locations in New York, New Jersey and Connecticut by 2019.

RAMSEY, NJ—A 19,700-square-foot TD Bank branch building in Ramsey has come online for sale, Cushman & Wakefield announced this week. As exclusive agent, the commercial real estate services firm's Metropolitan Area Capital Markets Group is marketing the property at 1100 Lake Street. Located just off Route 17 North, the TD Bank branch is one of Bergen County's most active banking locations (with $300 million in deposits as of June 2016). TD Bank has occupied the site for 20 years and recently renewed its long-term, triple-net lease.

MALDEN, MA—Callahan Construction Managers, a Bridgewater-based full-service construction management firm, recently commemorated the start of construction on Jefferson Malden Center in Malden, MA with a symbolic “demolition event” hosted by the project developer Jefferson Apartment Group. This dynamic 546,881 square-foot mixed-use redevelopment project, slated for completion in 2019, will transform Malden Center and serve as the gateway to Pleasant Street, reconnecting the city's historic retail core to the Malden Center MBTA station. Jefferson Malden Center is designed by CBT Architects. The property will include 320 residential units, 45,000 square feet of office space and 22,500 square feet of street-level retail spaces. Amenities will include a new public park and common space, glass sky-bridge, a fitness center and yoga room, club lounge and conference space, a pool, pergolas, fire pits, outdoor kitchen and a roof deck. Pictured are (from left): Raj Bhangoo, Jack Callahan, Patrick Callahan, Phil Dinan, Tom Pennell, Sean Kennedy, Brian Curran, Domenic Galluzzo

CARLSTADT, NJ—NAI James E. Hanson has negotiated a lease for 13,000 square feet of industrial space at 70 Triangle Boulevard in Carlstadt, NJ, to Cavalli Cabinets. NAI Hanson's Russell Verducci and Eric Demmers represented Cavalli Cabinets in the lease transaction with the landlord, 70 Triangle Associates. 70 Triangle Boulevard is a 46,700-square-foot industrial building located in the heart of Carlstadt's industrial zone.

Notables

BOSTON, MA—Cushman & Wakefield vice chairman John Boyle has been awarded Cushman & Wakefield's inaugural Tenant Advisory Group (TAG) Outstanding Achievement Award at the firm's recent Global TAG Conference in Austin, TX. David Hiebert, vice chair of the awards committee, presented the inaugural award to Boyle in recognition of his exemplary contribution to Cushman & Wakefield, his ability to cultivate collaboration, his desire to continuously learn and improve his already substantial knowledge and skills, while at the same time mentor and train the next generation of brokers and support staff. Boyle is Vice Chairman at Cushman & Wakefield where he oversees tenant representation for Greater Boston and spearheads the Downtown Boston Group. He has over 30 years of experience executing transactions on a global basis.

WEST LONG BRANCH, NJ—Michael McGuinness, chief executive officer of the New Jersey Chapter of NAIOP, the Commercial Real Estate Development Association, will be honored at the 24^th Annual Monmouth University Kislak Real Estate Institute Leadership Excellence Award Dinner June 1 at the university's Woodrow Wilson Hall in West Long Branch. McGuinness will receive the Service to the Industry Award, which is given occasionally to an individual or organization who has provided exceptional service and support in advocacy, education or other services to the real estate industry.

NEPTUNE, NJ—The Allied Group's CEO, Robert Smith, was recently appointed to Hackensack Meridian Health Jersey Shore University Medical Center Foundation's Board of Trustees. The founder of the industry-leading renovation company, who lives and works in Monmouth County, NJ, was acknowledged for significant charitable and professional support of the hospital and the surrounding Neptune community. Coupled with this, The Allied Group's commercial project work has supported the revitalization of Neptune and the neighboring areas by upgrading local hotels and restaurants.

BROOKLYN, NY—WiredScore says 25 Kent, an eight-story class-A office development by Rubenstein Partners and Heritage Equity Partners, has achieved Wired Certified Platinum designation in recognition of its outstanding connectivity, technological infrastructure and readiness to adopt emerging technologies. 25 Kent will be the first ground-up development in Brooklyn to be Wired Certified Platinum, and the first property in Williamsburg to be Wired Certified at any level.