July 30, 2010
MICROSOFT SIGNS 113,000-SQUARE-FOOT LEASE IN CAMBRIDGE
CAMBRIDGE, MASS. — Microsoft has signed a lease for 113,000 square feet of office space at One Cambridge Center in Cambridge. It will occupy six floors of the 12-story building, which is located at the intersection of Main Street and Broadwaty in Kendall Square. The new lease will consist of the expansion of Microsoft's New England Research & Development Center, which opened in 2007. John Osten, Peter Bekarian and Molly Heath of Jones Lang LaSalle represented Microsoft in lease negotiations. David Provost and Philip Dorman provided in-house representation for the landlord, Boston Properties. Cambridge Center is a 24-acre office and research park that contains 2.7 million square feet of space.
GEBROE-HAMMER COMPLETES $15 MILLION MULTIFAMILY DEAL IN N.J.
111 S. Harrison St. was one of the properties involved in a $15 million multifamily deal in East Orange, N.J. EAST ORANGE, N.J. — Gebroe-Hammer Associates has completed a $15 million multifamily deal in East Orange. The first part of the transaction involved the $13.3 million note sale of five multifamily buildings totaling 320 units. The properties are located at 111, 150 and 253 S. Harrison St. as well as 195 and 242 Prospect St. In addition, the 42-unit property located at 150 South Harrison was subsequently re-sold for $1.7 million. David Oropeza of Gebroe-Hammer led the brokerage team that represented the sellers and buyers. Steven Tenenbaum, also of Gebroe-Hammer, procured the buyer in the second part of the deal.
EASTERN CONSOLIDATED BROKERS TWO MANHATTAN DEALS FOR $17 MILLION
The 8,426-square-foot retail component of Devonshire House in Greenwich Village has traded for $10.35 million. NEW YORK CITY — Eastern Consolidated has brokered two Manhattan deals. First, the 8,426-square-foot retail component of Devonshire House, a condo tower located at 28 E. 10th St. in Greenwich Village, traded for $10.35 million. The street-level retail spaces average 605 square feet each, and the property includes 3,584 square feet of cellar space shared by six of the units. Occupancy was 100 percent at the time of closing. The Eastern Consolidated team of Ronald Solarz, Eric Anton, Brian Ezratty and Deborah Gutoff represented the seller, Devonshire Associates LLC, and procured the undisclosed buyer. In the second transaction, a six-story, 48-unit residential building located in West Harlem at 315 W. 115th St. traded for $6.7 million. The property is rent stabilized and fully occupied. Peter Carillo and Lipa Lieberman of Easter Consolidated represented the seller, West 115th Realty LLC, and procured the buyer, West 115 11-13 Associates LLC.