Denholtz Associates purchased the 56k-SF Class A office building at 150 Morristown Rd. in Bernardsville, NJ. The asset was acquired in a JV that included Becker Bros. Cushman & Wakefield represented the owners, RAIT Financial Trust and NPV Direct

Lease Transactions

East Rutherford, NJ’s Metropolitan Center saw three transactions totaling 55k SF: Corporate Synergies Group’s13.5k-SF lease (tenant broker: Cushman & Wakefield’s Curtis Foster and Newport Commercial Real Estate Advisors’ John Gillespie); Cambrex Corp.’s 10-year, 10.5k-SF renewal (tenant broker: The Garibaldi Group’s Jay Garibaldi, Matt Kirby and Michael Witko); and Children’s Place’s 31k-SF renewal (tenant broker: Resource Realty’s Thomas Consiglio). CB Richard Ellis’ Patrick Murphy,Donald Sperling, and Greg Barkan represented the landlord CBRE Investors in all three transactions.

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EdisonLearning inked a 54k-SF sublease at 485 Lexington Ave. from Advance Magazine Publishers for 11 years. Jones Lang LaSalle’s Daoud Awad, Derek Trulson, and William Peters represented the subtenant. CB Richard Ellis’ Jason Frazier, David Hollander, Ken Meyerson and Gregory Tosko represented the sublessor. SL Green is the owner.

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Camp, Dresser & McKee signed a 32.4k-SF relocation to Raritan Plaza I in Edison, NJ. The firm will relocate to the space in 4Q. CresaPartners’ Dennis Gralla, James Scancarella, and Christopher Crooks represented the tenant, while Vincent Visceglia represented owner Summit Associates.

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GDS Publishing signed a long-term lease for 20.2k SF at 40 Wall St., expanding and relocating from its current home at 33 Whitehall St. FirstService Williams’ Jared Freede and Greg Wang represented the tenant. The Trump Org.’s Donald Trump Jr. and Jeffrey Lichtenberg, along with a CB Richard Ellis leasing team, represented the landlord.

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Dr. Leonard’s Healthcare Corp. inked a 15k-SF lease at Towne Corporate Centre, 2147 Route 27 in Edison, NJ. Jones Lang LaSalle’s Joel Lubin and Kevin Carton represented the tenant, while Cushman & Wakefield’s Robert Dinner, Jon Marks, and Bonni Heller represented the owner.

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Research Perspectives signed a five-year, 8k-SF lease at Gannett Office Park in White Plains. The building is managed by Heritage Realty Services and owned by affiliate Dryland Gannett.

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MetLife expanded and extended its lease agreement at 1979 Marcus Ave. in Lake Success, Long Island, adding 3.5k SF to its existing 6.8k-SF lease. Lincoln Equities Group’s Daniel Ackerman represented the owner, Willett Cos.

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Edelman Financial Services signed a five-year, 2.5k SF lease at Ten Bank St. in downtown White Plains. CB Richard Ellis’ Ian Ceppos, Brandon Clarke, and Charles Gordon represented the tenant, while Jeffrey Newman and Kimberly Zaccagnino represented owner W&M Properties in-house. W&M Construction will build out the space.

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MobiNow Corp. inked a five-year, 2.5k-SF lease at 37 W. 17th St. The Kaufman Org.’s Elliot Warren represented the tenant, while The Moinian Group’s Kimia Shadrokh represented the owner.

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Children’s boutique Lemonade leased 300 SF at 1038 Lexington Ave. Robert K. Futterman & Associates’ Robert Draizen represented the tenant, while RFK’s Ariel Schuster and Izzy Anthony represented the owner, The Winter Org.

Financing

The NYC Economic Development Commission announced $100M in funding for 14 capital projects across Queens, which include infrastructure, traffic migration, and streetscape improvements within a five-mile radius of JFK International Airport. Projects include the Atlantic Avenue extension, Station Plaza redevelopment, Willets Point off-site infrastructure, and the Vaughn College of Aeronautics and Technology’s library and community conference center.

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Marcus & Millichap Capital Corp. arranged a $4.5M loan for the acquisition of an 8.7k-SF mixed-use multi-family and rental building a 229 Lenox Ave. The firm’s Brian Ursino arranged the financing packet, which was provided by SBA and construction loans plus an equity line. The interest rate is 5.3% fixed with 30-year amortization.

ALSO AROUND NEW YORK...

Executive Moves

Christopher Ifill joined Hudson Land Co. as VP of sales, where he will oversee and manage sales operations for title insurance services in multi-site closings, shopping malls, mergers, commercial title insurance and 1031 exchanges for both buyers and sellers. He was previously with Commonwealth Land Title Insurance Co./LandAmerica.