Northeast

Simone Development Brokers 73,000 Industrial Lease for Auto Parts Company in NYC

by Haisten Willis April 7, 2017

NEW YORK CITY — Simone Development Companies has brokered a long-term relocation lease for LKQ Hunts Point Auto Parts in New York City. The company is relocating to a different location in the Bronx. Joanna Simone of Simone Development, which owns the property at 1390 Spofford Ave., negotiated the 15-year lease for 73,000 square feet with LKQ Hunts Point Auto Parts. The tenant was previously located at 1480 Sheridan Expressway. The one-story warehouse/distribution building features 26-foot clear ceiling heights, 11 loading docks, three drive-in bays and on-site parking.

April 7, 2017

Connecticut Northeast Office

Second Foundation Purchases Office Building in Farmington, Conn., for $1.1M

by Haisten Willis April 7, 2017

FARMINGTON, CONN. — Second Foundation has purchased a 9,860-square-foot office property located at 21 Talcott Notch Road in Farmington for $1.1 million. SCEN International was the seller of the three-story property, which is located on .99 acres. Sentry Commercial represented the seller and CBRE represented the buyer in the transaction.

April 7, 2017

Multifamily New Jersey Northeast

Construction Underway on Woodmont Cove at South Amboy Apartment Property in New Jersey

by Haisten Willis April 6, 2017

SOUTH AMBOY, N.J. — Woodmont Properties has commenced construction of Woodmont Cove at South Amboy, a transit-oriented apartment community in South Amboy. Woodmont Cove is located seven blocks from the South Amboy transit train station, which provides a 30-minute ride to Newark Penn Station and a 51-minute train ride to New York City. Woodmont Cove will feature 106 townhouse-style apartments with garage parking and 20 apartment flats. Unit amenities will include quartz countertops, stainless steel appliances and second-floor balconies. Each apartment will also include a washer and dryer. Woodmont Cove is located near the Garden State Parkway, New Jersey Turnpike, Interstate 28, and state highways 35, 1 and 9. Leasing will begin this summer, with occupancy beginning in September.

April 6, 2017

Industrial New York Northeast Office

Northwell Health Leases 50,000 SF Office/Industrial Space from Nassimi Realty in Lake Success, N.Y.

by Haisten Willis April 6, 2017

LAKE SUCCESS, N.Y. — Northwell Health has leased 50,000 square feet of office and industrial space at 2500 Marcus Ave. in Lake Success, a property owned by Nassimi Realty. With the lease, the property is 100 percent occupied. Nearby employers include Long Island Jewish Medical Center and North Shore University Hospital. Daniel Brandel of CBRE represented Northwell in the transaction. Northwell Health is one of New York’s largest healthcare providers with 21 hospitals and over 550 outpatient practices. Nassimi Realty is a privately held development and investment company specializing in the redevelopment of existing properties.

April 6, 2017

New Hampshire Northeast Office

Margulies Perruzzi Architects Completes Office Laboratory Space in Salem, N.H.

by Haisten Willis April 6, 2017

SALEM, N.H. — Margulies Perruzzi Architects (MPA), an architectural and interior design firm, has completed a 30,000-square-foot laboratory and office facility for Boston Analytical, the life sciences division of Alpha Analytical. Located in Salem, Boston Analytical’s new space houses chemistry and microbiology laboratories equipped with analytical testing equipment. Boston Analytical’s testing services are used by pharmaceutical, biopharmaceutical and medical device companies. MPA programmed and designed the spaces, including 20,000-square-foot chemistry, stability and microbial labs and 2,000 square feet of ISO 8 to ISO 5 clean rooms.

April 6, 2017

Loans New York Northeast Retail

KeyBank Secures $19.5M CMBS Financing for Retail Portfolio in New York

by Haisten Willis April 6, 2017

ALDEN, MEDINA & NIAGARA FALLS, N.Y. — KeyBank Real Estate Capital has secured $19.5 million in CMBS financing for a retail portfolio consisting of three Tops grocery-anchored shopping centers. The properties are located in Alden, Medina and Niagara Falls, and total 250,174 square feet. William Cassidy of Key’s commercial mortgage group arranged the financing with a 10-year term and 30-year amortization schedule. The non-recourse first mortgage loan was used to refinance existing debt.

April 6, 2017

Connecticut Northeast Office

Angel Commercial Arranges $2.2M Sale of Office Building in Westport, Conn.

by Haisten Willis April 6, 2017

WESTPORT, CONN. — Brett Sherman of Angel Commercial has arranged the $2.2 million sale of 1555 Post Road E. in Westport. Located on Route 1, the property consists of an 11,461-square-foot office building on .61 acres. Sherman represented the buyer, BAO Partners, which plans to update the building with a new roof, HVAC, windows, masonry and parking lot.

April 6, 2017

New York Northeast Office

BBS Completes $26.6M Expansion, Renovation at South Side High School in Rockville Centre, N.Y.

by Haisten Willis April 5, 2017

ROCKVILLE CENTRE, N.Y. — BBS Architects, Landscape Architects and Engineers has completed the renovation and expansion of South Side High School for the Rockville Centre Union Free School District located on Long Island. BBS served as the architect; interior designer; technology designer; and mechanical, electrical, and plumbing (MEP) engineer for the project. The school is located at 140 Shepherd St. in Rockville Centre. The $26.6 million South Side High redevelopment was a part of a $45.9 million school improvement bond issue that was approved by local voters in 2013. BBS’s project team included architect Roger P. Smith, project manager Kenneth Schupner, designer Tracy Hansen and construction administrator Peter Dawkins. Park East Construction served as construction manager.

April 5, 2017

Connecticut Northeast Office

Northeast Private Client Group Arranges $6.4M Sale of Office Property in New Haven, Conn.

by Haisten Willis April 5, 2017

NEW HAVEN, CONN. — Northeast Private Client Group has arranged the $6.4 million sale of a 40,000-square-foot office property known as Exchange Place in New Haven. The property is located at 123-127 Church St. Edward Jordan and Bradley Balletto of the firm’s Connecticut office represented the seller and procured the buyer in the transaction. William Jekiel Forbes built the Exchange Place property in 1832 and it was renovated in 2003. The seller, Connecticut-based 123-127 Church Street Associates LLC, purchased the property in 2013 shortly after its primary tenant The Annie E. Casey Foundation ceased activities. The company signed a lease for the upper floors with a rapidly growing technology company, and signed a net lease for the ground-floor retail space with a national pharmacy. The property was 100 percent leased at the time of sale. The buyer, Boston-based New England Investment Partners, purchased the property for roughly $160 per square foot.

April 5, 2017

Industrial New Jersey Northeast

BRC Brokers 92,000 SF Industrial Lease in Riverside, N.J.

by Haisten Willis April 5, 2017

RIVERSIDE, N.J. — Bussel Realty Corp. (BRC) has brokered a 92,000-square-foot industrial lease for Keymar Warehouse Inc. at 301 W. Washington St. in Riverside. The leased space is part of a 250,000-square-foot industrial property. Leo Esses and David Posner of BRC represented the landlord, Remy Investments LLC, in the transaction. Colliers International represented Keymar Warehouse. The property, 301 W. Washington St., is located near Exit 5 of the New Jersey Turnpike and I-295. It features 18-foot to 24-foot ceiling heights, 15 tailboards and two drive-in doors for loading. The property has 100,000 square feet of space available, and an additional 100,000 square feet of new space can be constructed on the site.

April 5, 2017

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