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New managing directors Matt Wilcox and Brett Moss will report to SVP and head of investment sales Keith Misner.

The property, originally built for Continental Can Company, is currently 70% leased to more than 20 tenants. No financial terms of the transaction were disclosed. Senior mortgage financing was provided by AmeriServ Financial.

Sears.com, distribution centers and customer care operations will remain open and Sears Home Services will continue to repair essential appliances.

Somple, Perkins and Allessio represented Spartech in the sale of the property to The Stro Companies in June 2019 of 211 South Newman St. and the adjacent 65,677-square-foot industrial building at 215 South Newman Street.

The funding for the New Jersey transit system was announced by US Rep. Chris Smith (R-NJ) and requires no local matching cost-share. The $2-trillion stimulus bill called the Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by the House and signed into law by President Trump on March 27.

Innovo Property Group and Square Mile Capital Management are developing a one million square foot, two-story Class A logistics and distribution facility at 2505 Bruckner Boulevard in the Bronx.