ABERDEEN, NJ—Somerset Development, continuing its successful partnership with Ingerman, has begun redevelopment to transform the former Anchor Glass factory in Aberdeen, NJ, into The Glassworks, a vibrant and accessible mixed-use community with a variety of residential and retail options centered around a pedestrian-oriented “Main Street.”
FREDERICKSBURG, PA—USAA Real Estate Company and Trammell Crow Company have completed construction of Lebanon Valley Distribution Center, a new class A warehouse/distribution building totaling 874,126 square feet in Fredericksburg, PA. The project marks the third project completion in the region between USAA RealCo and TCC.
YORK, PA—Bethesda, MD-based Walker & Dunlop provided a $14.125 million bridge loan for Autumn House (East and West), senior living communities in York, PA, featuring assisted living, independent living, and memory care.
LIVINGSTON, NJ—The multifamily-investing rush reached a new level during the first quarter along the New Jersey/Philadelphia corridor, where Gebroe-Hammer Associates closed more than $578 million in transactions. The firm recorded 30 sales involving a total of 3,590 units during the three-month timeframe, averaging over two sales per week and breaking records previously set during the course of its 40-year history.
CEDAR KNOLLS, NJ—Nearly 40,000 square feet in leasing and renewal activity at Cedar Knolls Corporate Center follows the recent completion of a major capital improvement program at the 118,000-square-foot, class A office building, according to Cushman & Wakefield.
NEWARK, NJ —165 Halsey Street, a dedicated 1.2 million square foot data center/colocation/telecom carrier hotel offering affordable space, power and interconnection services, is experiencing tenant growth with new leasing commitments from new and existing customers in Q1 2016.
PHILADELPHIA—MakeOffices, a leading coworking platform, named Danika Ervin as city lead for Philadelphia. She joins the firm from the local office of Cushman & Wakefield, where she provided office brokerage services.
NEW JERSEY—Here is a roundup of recent smaller deals and other transactions in the New Jersey market, along with some exclusive agency assignments and executive moves.
JERSEY CITY, NJ—Meridian Capital Group negotiated $165 million in permanent financing for The One, a luxury multifamily property in Jersey City, NJ on behalf of BLDG and Ares Management.
