NEWTON, MASS. — R.W. Holmes Realty has brokered the sale of an office/manufacturing building located at 55 Border St. in Newton. Border Realty Trust sold the property to Quarter Realty Trust for $2.7 million. The 18,000-square-foot building features a tailboard dock, a drive-in door and heavy power. Garry Holmes of R.W. Holmes Realty represented the seller, while Dean Blackey, also of R.W. Holmes Realty, represented the buyer in the transaction.
WILTON, CONN. — JRT Realty Group, working in conjunction with Cushman & Wakefield, has arranged four leases totaling 23,595 square feet at Wilton Woods Corporate Campus, located at 10 and 20 Westport Road in Wilton. The two-building, Class A office park is owned by TIAA-CREF. Property Group Partners has signed a five-year, 6,874-square-foot lease on the third floor of the 341,207-square-foot building at 20 Westport Road, and Stonebridge Advisors has inked a 10-year deal for 6,642 square feet of first-floor space at the 197,512-square-foot building at 10 Westport Road. Property Group Partners, which serves as property manager of the complex, represented itself in transaction, while Stonebridge Advisors was represented by Thomas Pajolek of CBRE. Additionally, at the 10 Westport Road building, Sierentz Fund renewed its 5,879-square-foot lease and Louis Dreyfus Family Office renewed its 4,200-square-foot lease. TIAA-CREF was represented by Greg Smith of JRT Realty Group and Kevin Foley and William Montague of Cushman & Wakefield in the transactions.
STAFFORD TOWNSHIP, N.J. — Walters Group is constructing a Five Below store at Stafford Park Shopping Center in Stafford Township. Slated for completion by mid-2016, the 8,176-square-foot retail space will be leased to Five Below under a 10-year contract. The 400,000-square-foot Stafford Park Shopping Center is occupied by Costco, Target, PetSmart, Dick’s Sporting Goods, Best Buy, Olive Garden, AT&T, The Vitamin Shoppe and Ulta Beauty, among others. Walters Group developed the center in 2008.
KEENE, N.H. — Brady Sullivan Properties has signed leases with five new tenants at its Colony Mill Marketplace and Center at Colony Mill in Keene. Curry Restaurant, Southern NH Services and Bruce Carey Insurance opened a total of 3,600 square feet at Colony Mill Marketplace, while Adecco and Prospect Place joined Center at Colony Mill with a total of 2,500 square feet. Benjamin Kelley and Charles Panasis of Brady Sullivan Properties brokered the transactions.
ITHACA, N.Y. — STREAM Capital Partners has arranged the sale of a 2,480-square-foot two-tenant retail property in Ithaca. A private investor purchased the property for $640,000 at a 6.25 percent cap rate. The property was under a short-term existing ground lease to the current tenants, Tim Hortons and Cold Stone Creamery. Susan Harris of STREAM Capital Partners represented the undisclosed seller in the transaction.
QUONSET, R.I. — Rhode Island Governor Gina Raimondo has included a $70 million bond proposal in the state budget to modernize and reconstruct Pier 2 at the Port of Davisville in Quonset. The budget, including the proposal, has yet to be approved by the state legislature. The port recently closed its sixth record-breaking year of automobile imports by ship and is consistently one of the top 10 auto ports in North America. Additionally, the port has experienced 547 percent growth over the past 20 years. Built in 1956, the pier was designed for a 50-year lifespan. The $70 million investment will solidify Davisville’s position as the premier marine commercial gateway to New England and add an additional 50 years to the pier’s useful life, as well as preserve hundreds of jobs in the maritime sector. There were 227,021 automobiles imported at the port last year, surpassing 2014’s record by 48,806 vehicles. Vehicles arriving at the port are processed, finished and distributed across the United States by North Atlantic Distribution Inc.
NEW YORK CITY — Meridian Capital Group has arranged $18 million in acquisition financing for the purchase of a mixed-use property, located at 16 E. 18th St. in Manhattan. The borrower was Stone Street Properties. The three-year loan, which was provided by a national balance sheet lender, features a floating rate and interest-only payments for the full term with two one-year extension options. The building features eight residential units and one retail unit, which is occupied by Paragon Sports. The buyer plans to renovate the full-floor residential units. Drew Anderman and Alan Blank of Meridian negotiated the financing transaction.
DEDHAM, MASS. — R.W. Holmes Realty has arranged the sale of a medical office building, located at 910 Washington St. in Dedham. Vision Realty Dedham LLC sold the two-story building to Dedham MOB LLC an entity controlled by Whelan Associates, for $6.4 million. Built in 2012, the 22,388-square-foot building is located off Route 128 within walking distance of Legacy Place and the commuter rail. The main tenant of the building is Greater Boston Urology. Garry Holmes and Dean Blackey of R.W. Holmes Realty represented the seller in the transaction.
NEW YORK CITY — Shutterstock has expanded its lease at the Empire State Building for an additional 25,300 square feet. The global provider of commercial imagery and music will now occupy 105,300 square feet at the building. The company’s headquarters has occupied 80,000 square feet at the building since 2013. Additional tenants at the Empire State Building are LinkedIn, Bulova, Coty, Global Brands Group, HNTB, Expedia, Skanska and Media General Digital. Paul Ippolito of Newmark Grubb Knight Frank represented the tenant, while Ryan Kass, Fred Posniak and Shane Ursini provided in-house representation for the landlord, Empire State Realty Trust Inc., in the transaction.
MANCHESTER, N.H. — Elliot Hospital has selected Bedford, N.H.-based Eckman Construction for the renovation of its emergency department and the creation of a new Rapid Triage and Treatment (RTT) unit in Manchester. The project will include renovation to the check-in, waiting room, and clinical areas to create the new RTT treatment spaces. Boston-based MorrisSwitzer is providing architectural services for the project.