SHELBURNE, VT. — Nedde Real Estate has arranged an office lease at 181 Falls Road in Shelburne. NorthEast Estates and Trusts PLLC and Law Office of Richard J. Fox will occupy 955 square feet at the property. The lease will begin in January 2017 and expire in two years. Fernando Cresta of Nedde Real Estate arranged the lease transaction. The landlord is LaPlatte Partnership.
SOUTH BURLINGTON, VT. — Nedde Real Estate has brokered the lease of 5,808 square feet office at 1891 Williston Road in South Burlington. The tenant, Ideas Well Done, will move into the space in early December. Fernando Cresta and Doug Nedde of Nedde Real Estate co-own the property. Meg McGovern of Donahue & Associates represented the tenant in the lease.
Addison County Community Trust, Cathedral Square Corp. Open Net-Zero Affordable Housing Development in Vermont
WALTHAM, VT. — Development partners Addison County Community Trust and Cathedral Square Corp. have redeveloped a formerly unoccupied manufactured home park in Waltham into McKnight Lane, Vermont’s first net-zero affordable housing community. The $3.6 million community features 15 net-zero energy homes configured into seven duplexes with 12 two-bedroom layouts and two three-bedroom layouts. The homes are available for households with incomes at or below 50 percent and 60 percent of the area..
BURLINGTON AND SHELBURNE, VT. — Nedde Real Estate has arranged sale and lease transactions in Vermont. In the first transaction, Champlain Commercial Properties Investment Group completed the disposition of a retail and multifamily property located at 152 Battery St. in Burlington. Red Brick Realty II acquired the property, which features a deli on the first floor and an apartment unit on the second, for an undisclosed price. Cindi Burns of Century 21 Jack Associates represented the buyer,..
WILLISTON, VT. — ASIC North has signed a lease for 10,829 square feet of office space at 291 Hurricane Lane in Williston. The company is expanding its location and relocating from 310 Hurricane Lane. ASIC North provides comprehensive VLSI design services to the semi-conductor industry. The landlords are Doug Nedde and Fernando Cresta. Duncan Harris of The Kingsland Company represented the tenant, while Cresta represented the landlords in the deal.
WILLISTON, VT. — Cypress Equities has acquired Maple Tree Place, a mixed-use retail/office property located in Williston. Retail Properties of America sold the 488,975-square-foot property for $90 million. Developed between 2001 and 2005, Maple Tree Place is anchored by a variety of national and regional retailers including Dick’s Sporting Goods, Christmas Tree Shops, Best Buy, Shaw’s, Staples, Guitar Center and Majestic Cinemas. Jeffrey Dunne, David Gavin and Travis Langer of CBRE..
SOUTH BURLINGTON, VT. — Doug Nedde and Fernando Cresta of Nedde Real Estate have acquired a multi-tenant commercial building located at 1891 Williston Road in South Burlington. Lee Zachary, owner of the Zachary’s restaurant chain, sold the 49,200-square-foot property for an undisclosed sum. The property is occupied by Enterprise Rentals, Treehouse Woodworking, MAACO, United Fighting Arts Institute and MOTO VT.
ST. ABANS, VT. — Nedde Real Estate has arranged the sale of a retail property located at 8 N. Main St. in St. Abans. Doug Nedde and Grant Butterfield from Nedde Real Estate and Alain Youkel of Youkel Architecture + Development have acquired a 22,000-square-foot historic TD Bank building for an undisclosed price. TD Bank will continue to operate from the first floor, while the second, third and fourth floors will be converted into market-rate apartments.
SOUTH BURLINGTON, VT. — BMC Capital has arranged a $1.1 million loan for the cash-out refinance of a multifamily property located in South Burlington. The non-recourse loan features a 4.51 percent fixed rate for seven years, two years of interest-only payments and a 30-year amortization schedule. Brian Gramlich of BMC Capital’s Dallas office arranged the loan through one of BMC Capital’s correspondent agency relationships for the undisclosed borrower.
MANCHESTER VILLAGE, VT. — Carey Watermark Investors Inc. has acquired The Equinox Golf Resort & Spa in Manchester Village from HEI Hotels & Resorts for an undisclosed price. Situated on 1,300 acres between the Green and Taconic Mountains, the resort offers 195 guestrooms, 18,500 square feet of flexible meeting and event space, an 18-hole championship golf course, a 13,000-square-foot spa and five food and beverage outlets, as well as a variety of guest amenities and experiences. The hotel,..