LIVINGSTON, NJ—Multifamily property prices and sales activity are not likely to see much impact from the Federal Reserve's first interest rate increase in several years, Gebroe-Hammer Associates president Ken Uranowitz tells GlobeSt.com exclusively.

LAWRENCE TOWNSHIP, NJ—Privately-held securities broker/dealer firm David Lerner Associates has acquired 134 Franklin Corner Road in Lawrence, NJ, a 25,000-square-foot office building that was once the headquarters of Trenton Savings Bank.

WEST CHESTER AND PHILADELPHIA, PA—Hunt Mortgage Group has financed two properties in eastern Pennsylvania through its Small Balance Loan program. The total investment of $7.8 million was provided to the same borrower, a multifamily owner based in Philadelphia that Hunt declined to name.

LINDEN, NJ—Lamar Companies sold its Linden Commons, a 115,500-square-foot, fully-leased, retail center in Linden, NJ, to Prestige Properties & Development for $30.5 million, capping an 18-month turnaround and transformation project.

NEWARK, NJ—The $122.8 million loan financing the Two Gateway office property in Newark has been sent to special servicing, according to Trepp.com, a service that monitors securitized mortgages, but the property's owner, C&K Properties, says the move is a "necessary procedural step" for the property. C&K is coping with the departure of Prudential Financial following the completion of the financial services giant's new office tower in Newark.

SADDLE RIVER, NJ—Pharmaceutical billing software company MedAssets is leasing the entire 105,959-square-foot Saddle River Executive Center, a class A office property at 1 Route 17 in Saddle River, NJ. Avison Young led a strategic initiative to reposition the building for a single-tenant occupier upon the expiration of the previous lease.

VINELAND, NJ—Dick's Sporting Goods will fill a 50,000 square-foot space at PREIT's Cumberland Mall in Vineland, NJ previously occupied by JCPenney. PREIT CEO Joseph F. Coradino says the transaction demonstrates PREIT's continued success in replacing anchors with in-demand retailers.

WYOMISSING, PA—Gaming and Leisure Properties is acquiring The Meadows Racetrack and Casino in Washington, PA, a suburb of Pittsburgh, from Cannery Casino Resorts for $440 million, which includes $10 million previously paid and other adjustments.