BOSTON — Collier International has arranged the renewal of a 152,000-square-foot lease at 100 Meadow St. in Boston for HD Supply. The industrial facility features 30-foot clear ceiling heights, an ESFR sprinkler system and numerous loading docks. The warehouse property was recently acquired by Newton, Mass.-based National Development. Austin Smith of Colliers lead the transaction.
HADLEY, MASS. — Waterbury, Conn.-based R. Calabrese Agency has arranged the acquisition of a net ground lease for a restaurant building located on Route 9 in Hadley. NF LLC acquired the property from an undisclosed seller for $2.4 million. Situated on two acres, the 7,160-square-foot building is net-leased to Texas Roadhouse. Tony Valenti and Ralph Calabrese of R. Calabrese Agency represented the buyer in the in transaction.
BOSTON — Boston-based Sperry Van Ness International Corp. (SVNIC) has opened its first office location in Mexico City, Mexico. Operating under the name Sperry Van Ness Mexico City, the new office will built on the company’s business model of compensated cooperation, and will bring cutting-edge real estate platforms to Mexico’s industrial professionals. Xavier Pumarejo is serving as president and general director at the new location. This is the third international market expansion for SVNIC, which has opened offices in Russia and Canada.
NEW JERSEY, PENNSYLVANIA AND FLORIDA — Prologis has acquired a 5.4 million-square-foot portfolio consisting of 3.2 million square feet of industrial properties and 2.2 million square feet of retail properties in multiple states. Morris Realty Associates sold the portfolio for an undisclosed sum. Included in the portfolio are ten industrial properties, eight of which are in Northern New Jersey, as well as 13 retail properties in New Jersey, Pennsylvania and Florida. After the initial acquisition, Prologis sold the retail portion of the portfolio to Blackstone Real Estate Advisors for an undisclosed price. The company plans to retain the industrial properties for long-term investment purposes. Thomas Monahan, Noah Balanoff, Anastasia Lazarides and Gerard Monahan of CBRE’s Saddle Brook, New Jersey, office represented Prologis in the acquisition. Bill Kent, also of CBRE, spearheaded the multi-state team that brokered the disposition of the retail properties.
BLAUVELT, N.Y. — NAI James E. Hanson has arranged the sale of an industrial building located at 615 Route 303 in Blauvelt. Direct Invest LLC sold the property to the current tenant, Advanced Distributions Systems (ADS), for an undisclosed price. The 219,304-square-foot property features 20-foot ceilings, 12 loading docks with one drive-in door, 200 parking spaces and 14,311 square feet of office space. Scott Perkins, Andrew Somple and Christopher Todd of NAI James E. Hanson represented the seller in the transaction.
MAYNARD, MASS. — Mesa West Capital has provided Artemis Saracen Investments, a joint venture between Saracen Properties and Artemis Real Estate Partners, with $40.8 million in first mortgage financing to reposition a 1 million-square-foot office campus in Maynard. Loan proceeds will be used to implement an extensive capital improvement and leasing plan that will reposition the property to appeal to a wide variety of users. Formerly known as Clock Tower Place, the newly rebranded Mill & Main is a mixed-use development located 25 miles west of Boston. Planned improvements to the property include updated building systems, pedestrian plazas, a waterfront boardwalk, fitness facilities, boutique retail and gallery venues. Situated on 50 acres, the property includes 12 vintage brick-and-beam-style buildings overlooking a 14-acre mill pond. Constructed in 1847, the site originally served as a woolen mill until 1950 when it was converted to an office park. The property is currently 37 percent leased, including a recently signed lease with Stratus Technologies for 102,000 square feet, which is slated to open this spring. Jay Marshall of HFF arranged the financing.
NEW YORK CITY — GFI Realty Services has brokered the sale of an apartment building located at 41-29 41st St. in the Sunnyside section of Queens. Norcor Management acquired the building for $15 million, or $306,000 per unit. The 40,800-square-foot multifamily property features 49 apartment units. Josh Orlander of GFI Realty represented the buyer, while Daniel Shragaei, also of GFI Realty, represented the seller, an Astoria, Queens-based firm that primarily manages residential properties in Queens.
NEW YORK CITY — Alpha Realty has arranged the sale of a mixed-use property located at 957 Utica Ave. in Brooklyn’s East Flatbush neighborhood. The asset sold for $5.1 million. Built in 2007, the property features 18 apartments, five stores and 26 parking spaces. Jacob Aronov of Alpha Realty, along with a team of brokers from Besen & Associates, represented the undisclosed buyer and seller in the transaction.
BILLERICA, MASS. — Select Stone has acquired an industrial building located at 7 Esquire Road in Billerica. C.A. Realty Corp. sold the facility for $1.7 million. The 25,000-square-foot property features 18-foot clear heights. James Stubblebine and David Stubblebine of The Stubblebine Company/CORFAC International represented the buyer and seller in the deal.
NEW YORK CITY — SL Green Realty Corp (NYSE: SLG) has received $296 million in financing for three of the REIT’s New York-based assets. The assets include a Class A office building at 800 Third Ave. in Manhattan; Jericho Plaza, a 662,000-square-foot, two-property complex in Jericho on Long Island; and 719 Seventh Ave. in Times Square, which will eventually serve as a prime retail flagship location. The office building received a new 10-year, $177 million refinancing of its mortgage loan. The property is situated in the Grand Central submarket. It is currently 96 percent occupied. Jericho Plaza received a two-year, floating-rate mortgage to recapitalize the property. The initial funding was about $75 million, with a total expected funding of $100 million. Proceeds will partially be used for a capital improvement plan that includes lobby and elevator cab renovations, the addition of a conference facility and landscaping upgrades. The Times Square project received a two-year, $44 million loan. The proceeds will be used for construction of 10,000 square feet of retail space, as well as extensive LED signage. SL Green expects that construction will be completed before the 2016 holiday season. “The successful completion of these transactions provides evidence that liquidity …
