NEW YORK CITY — DiamondRock Hospitality Co. has acquired the 282-room Hilton Garden Inn/Times Square Central in New York for $127.2 million, or $451,000 per guestroom. The hotel, located on 42nd Street between Avenue of the Americas and Broadway in the heart of Times Square, opened this month. The hotel features floor-to-ceiling glass windows and each guestroom features a 50-inch LCD HDTV, refrigerator, microwave and other amenities. The hotel also includes a 24-hour self-service business center and fitness facility. DiamondRock Hospitality Co. expects the hotel to generate approximately $5 million of adjusted earnings before interest, taxes, depreciation and amortization in 2014. Highgate Hotels will operate the hotel.
Northeast
STAMFORD, CONN. — Clal Insurance has acquired Glenview House, for $69.1 million. The 146-unit multifamily property is located at 25 Glenbrook Road in Stamford. Glenview House includes one- to three-bedroom rental apartments. The property includes a retail space leased by Walgreens. The four-story residential building includes a 24-hour fitness center, concierge and business center. Waterton Associates LLC will oversee the management and leasing activities at the property. Glenview House is currently more than 95 percent leased. Glenview House represents Clal’s second acquisition in Stamford in just one month. In August, Clal closed on a 49 percent stake in 75 Tresser, a 344-unit mid-rise apartment rental community.
KILLINGLY, CONN. — Cassidy Turley has arranged a 147,878-square-foot industrial lease in Killingly. C&M Technologies, a manufacturer of wire and cable cords, has leased space located at 349 Lake Road. The company is relocating to this site from 51 S. Walnut St. in Wauregan, Conn. The property includes 12 loading docks and two drive-in doors, as well as 40 acres of excess land available for additional build-to-suit space. The property also features 15,600-square-feet of air-conditioned office space. Kevin Hanna and Sean Teague of Cassidy Turley represented C&M Technologies in the transaction. Keith Kumnick of Colliers International represented the landlord, the Grossman Cos.
BRONX, N.Y. — Simone Development Cos.has arranged 38,700 square feet of new leases at its Metro Center Atrium, which is nearing completion in the Bronx. The 370,000-square-foot office/retail/hotel complex is located at the 42-acre Hutchinson Metro Center campus. MetroPlus Health Plan, the insurance plan of the New York City Health and Hospitals Corp., is leasing 17,000 square feet of office space for its new Crisis Center at the Metro Center Atrium. In addition, IAC Acoustics, a leading supplier of sound control products, has leased 10,000 square feet of space for its executive offices, and Community Resource Center has leased 4,300 square feet of executive office space at the Metro Center Atrium. Applebee’s has also leased 7,400 square feet on the ground floor of the complex.
HILLSIDE, N.J. — Bussel Realty Corp. has arranged the lease of a 54,720-square-foot industrial building in Hillside. The property is located at 470 Mundet Place. Some of the building features include 5,295 square feet of office space and nine loading doors. The property is located near I-78 with access to the New Jersey Turnpike. The tenant, Superior Plus Inc., will utilize the space for warehouse and distribution purposes. David Posner of Bussel Realty represented the owner Nathan Barry Co.
NEW YORK — RKF has arranged two new leases at the 50-story Grace Building in Midtown New York for renowned chef Gabriel Kreuther’s first solo restaurant and Bluestone Lane Coffee. Kreuther’s yet-to-be-named restaurant will be located at 1114 Avenue of the Americas, directly across from Bryant Park. The property will consists of 8,000 square feet on the ground floor and 7,000 square feet on the second floor. Glen Coben of architectural and interior design firm Glen & Co. will design the restaurant. Spencer Levy and Michael Yohai of RKF represented Gabriel Kreuther and the Teton Restaurant Group in the lease. Edward Hogan and Mark Kostic represented Brookfield internally. Bluestone Lane Coffee has taken a 600-square-foot café space on the plaza at the Grace Building. Jon Krieger of RKF represented Bluestone in the transaction. Edward Hogan represented Brookfield internally. The Grace Building is co-owned by Brookfield and The Swig Co.
FARMINGDALE, N.Y. — Rechler Equity Partners has arranged the lease for 20,092 square feet of office space at the firm’s 146,705-square-foot 110 Bi County Blvd. in Farmingdale. BeWild.com in association with Utopia.com, an e-commerce retailer, committed to the long-term lease. Alberto Fiorini of Alliance Real Estate Corp. represented BeWild.com.
NEW YORK — Colliers International has arranged a long-term lease renewal at 469 Seventh Ave. for the Metropolitan Transit Authority (MTA) in New York. The MTA will continue to lease the entire 11th and 14th floors, totaling 34,000 square feet. The 267,000-square-foot 469 Seventh Ave. building is located at the southeast corner of West 36th Street and includes access to Penn Station and the Port Authority Bus Terminal. Eric Meyer, Marty Meyer and Dan Shavolian of Foremost Real Estate own the building. Jodi Roberts and Josh Kuriloff of Cushman & Wakefield represented the MTA in the renewal.
NEW YORK CITY — NorthStar Real Estate Income II Inc. has originated a $45.75 million senior loan, which is secured by a portfolio of three full-service hotels in Pennsylvania and Florida. The loan includes a 36-month term and two one-year extension options. The hotel portfolio features a total of 680 rooms and more than 26,000 square feet of total meeting space. Additionally, more than $17 million has been invested in the properties over the past 18 months. Proceeds from the senior loan will be used for additional planned improvements. NorthStar Income II’s portfolio consists of six loans with an aggregate principal amount of $227.8 million as of August 28, 2014. NorthStar Income II is a public, non-traded real estate investment trust sponsored by NorthStar Asset Management Group Inc.
MILFORD AND STRATFORD, CONN. — Fairfield County, Conn.-based Angel Commercial LLC has brokered two leases totaling 14,000 square feet in Milford and Stratford. In Milford, The Nutty Company Inc. has leased a 5,000-square-foot freestanding building at 19 Seemans Lane. The company is relocating from Derby, Conn. Angel Commercial represented both parties in the transaction. In Stratford, Eastern Connection Inc., a multi-state courier business, has subleased 9,000 square feet of warehouse space at 350 Long Beach Blvd. Jon Angel of Angel Commercial represented the landlord, while Vidal/Wettenstein LLC represented the tenant in the transaction.