NEW YORK CITY — Servcorp, a global provider of equipped executive offices and virtual office space, has signed a 15-year lease for 34,775 square feet at One World Trade Center. The Australia-based company will occupy the entire 85th floor of the 3 million-square-foot office tower. Founded in 1978, Servcorp currently has 140 locations in North America, Europe, Asia and Australia. The company’s One World Trade Center location is scheduled to open in first quarter 2015. One World Trade Center, which will celebrate its official opening later this year, is being developed as a joint venture of The Port Authority of New York and New Jersey and The Durst Organization.
Northeast
WESTWOOD AND RIVER VALE, N.J. — HFF has brokered the sale of a four-property multifamily portfolio totaling 276 units in Westwood and River Vale. Kushner Companies purchased the portfolio from Hartz Mountain Industries for $56.5 million. The fully stabilized portfolio includes one- and two-bedroom units averaging 798 square feet. The portfolio consists of the 103-unit Coventry Square at 20-46 Charles St. in Westwood; the 71-unit Stanford Place at 500 Center Ave. in Westwood; the 56-unit The Madison at 99 Madison Ave. in Westwood; and the 46-unit Village on the Green at 229 Collignon Way in River Vale. Jose Cruz, Andrew Scandalios, Kevin O’Hearn, Jeffrey Julien and Michael Oliver of HFF represented the seller in the transaction.
NEW YORK CITY — New York City-based Savanna in partnership with another New York-based company has acquired the controlling interest in One Court Square, a 1.5 million-square-foot Class A office and retail building in Long Island City. Designed by Skidmore, Owings & Merrill LLP, One Court Square is comprised of a 51-story Class A high-rise tower and a four-story low-rise annex building. The tower features 31,000-square-foot floor plates and views of the Manhattan skyline. Turner Construction built the property in 1989. David Werner and his investor group, which sold the controlling interest, will also remain a partner in the deal.
MADISON, N.J. — CBRE Group has brokered the sale of 2 Giralda Farms, a 146,366-square-foot office building in Madison. Maersk Inc. sold the property for $53.3 million to American Realty Capital Global Trust Inc. The property was originally designed as a build-to-suit for the North American headquarters of Maersk. Jeffrey Dunne, Kevin Welsh, Brian Schulz, Frank Maresca and Alec Monaghan of CBRE represented the seller, Maersk, in the transaction. Maersk has relocated its North American headquarters nearby to 180 Park Avenue in Florham Park. An undisclosed tenant had signed a long-term lease at 2 Giralda Farms before the sale took place.
NEW YORK CITY — Houlihan-Parnes Realtors has brokered the sale of a mixed-use property located at 4062-4072 White Plains Road (also known as 690 East 229th St.) in the Wakefield neighborhood of the Bronx. Situated on an irregular 9,000-square-foot lot, the property features a three-story building with two retail stores and two apartments, and a one-story building with three retail stores and a used car sales lot. A Long Island-based management and holding company purchased the property for $1.4 million. Jerry Houlihan and James Coleman of Houlihan-Parnes Realtors arranged the transaction.
NEW YORK CITY — Marcus & Millichap has arranged the sale of 313 99th Street, a six-unit apartment building in Brooklyn. A private investor acquired the property for $1.2 million, a 4.33 percent cap rate. Mark Zarrella and John Brennan of Marcus & Millichap represented the seller, a private investor, and the buyer in the transaction.
STAMFORD, CONN. — A joint venture between Clal Insurance and Chicago-based Waterton Associates has acquired 75 Tresser, a multifamily apartment community located in downtown Stamford, for $121 million. The property offers 344 units, ranging from studio to three-bedroom layouts; 5,500 square feet of retail space with a two-story parking lot; a 9,000-square-foot resident’s lounge; a 5,000-square-foot fitness center; pool; two courtyards; a private screening room; meeting/dining rooms; a catering kitchen; and business center. The residential units feature designer kitchens with stainless steel appliances, elevated nine-foot ceilings, wood-style floors, in-unit washer/dryer and panoramic windows. Waterton will retain a 51 percent stake in the property, while Clal will own the remaining 49 percent.
BOSTON — DivcoWest and Boston-based Synergy Investments has acquired 38 Chauncy Street, an office building located in downtown Boston, from New York City-based Brickman. The 132,000-square-foot building is the fourth office building that DivcoWest and Synergy have purchased in downtown Boston in recent months. In June, the partners acquired 71, 77 and 78 Summer Street, a three-building office portfolio totaling 90,000 square feet. The partnership now owns seven assets in Boston, including three buildings in the Seaport district that were purchased last year.
HARRISON, N.J. — Starwood Hotels & Resorts Worldwide has opened its second eco-wise Element brand hotel in New Jersey. Located in Harrison, Element Harrison – Newark features 138 sustainable rooms and a light-filled design throughout the hotel. Designed by New York City-based HWKN, the hotel features a distinctive façade that takes a nod from the innovative Element by Westin brand. Additionally, the hotel offers a 24-hour fitness center, an indoor pool, and a 1,500-square-foot meeting room. Developed by Ironstate Holdings and The Pegasus Group, the hotel will be part of the partnership’s mixed-use development that will comprise 2,600 residential residences and 80,000 square feet of street-level retail space. The hotel is owned by Harrison Hotel 1, a joint venture entity of Ironstate Holdings LLC and The Pegasus Group, and managed by Crescent Hotels & Resorts.
WOODBRIDGE, N.J. — Woodbridge-based Onyx Equities has expanded its commercial real estate receivership and REO services platform to four new markets: Delaware, Maryland, Virginia and Washington, D.C. Onyx has implemented a cloud-based tenant communications and integrated management system that the firm customizes according to each property’s unique administrative needs. The firm’s technology-driven approach allows for more streamlined operations and tenant satisfaction and helps lenders and services realize increased value from their underperforming assets.