Northeast

COMPUWARE SIGNS 68,145 SF LEASE IN WALTHAM

by admin June 17, 2013

WALTHAM, MASS. — Compuware has signed a 68,145-square-foot office lease at 404 Wyman St. in Waltham, a western suburb of Boston. Compuware, which provides information technology software and services, will occupy a portion of the fifth floor of the Class A, 449,000-square-foot office building. The company will consolidate its offices at 10 Maguire Road in Lexington (approximately 54,000 square feet) and 400 Totten Pond Road in Waltham (approximately 15,000 square feet) at the new location. Shawn McDonough, Joe Sciolla and Andrew Orpik of Cresa Boston, along with Cameron McCausland of Cresa Detroit and Anne Coggeshall of Cresa Denver, represented Compuware in the transaction. Chip Batcheler of Wyman Street Advisors represented the landlord, Hobbs Brook Management. Barry Dubé and Amy Braun of Cresa Boston will provide project management services for Compuware’s move-in, which is slated for this fall. Boston-based CBT will provide interior design and furniture specification services for the move.

June 17, 2013

GSI GROUP SELLS 41 RESEARCH WAY FOR $4.5M

by admin June 17, 2013

EAST SETAUKET, N.Y. — Massachusetts-based GSI Group Inc. has sold 41 Research Way, a 65,000-square-foot office and research and development facility in East Setauket, for $4.5 million. Tritec Real Estate Co. Inc. purchased the facility, which is located at a 1 million-square-foot complex on the north shore of Long Island. Ray Ruiz, executive vice president, Marianne Dugan, vice president, and Doug Seale, associate, along with Tamie Thompson and Rick Fahey, managing directors, of Jones Lang LaSalle represented the seller. Robert Kent, vice president and general counsel represented the buyer in-house. The partial two-story 41 Research Way building is the former headquarters of Quantronix Inc., a subsidiary of GSI Group.

June 17, 2013

Northeast Retail

MARCUS & MILLICHAP SELLS 2,964 SF BUILDING FOR $3M

by admin June 17, 2013

LINDENHURST, N.Y. — Marcus & Millichap has arranged the sale of a 2,964-square-foot, net-lease property in Lindenhurst for $3 million. The property, which 7-Eleven currently occupies, is located at 175 W. Sunrise Highway. Preet Sabharwal, senior associate, and Britt Raymond, investment associate, of Marcus & Millichap’s Manhattan office, marketed the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by Sabharwal and Raymond.

June 17, 2013

Northeast Retail

RETAIL DEVELOPMENT SITE IN WAYNE, N.J., SELLS FOR $1.1M

by admin June 17, 2013

WAYNE, N.J. — NAI James E. Hanson has arranged the sale of a retail development site located in Wayne, about 19 miles northwest of Newark, for $1.1 million. An out-of-state investor sold the 2.25-acre property, which is located at 2211, 2227 and 2203 Hamburg Turnpike. A 5,000-square-foot Italian restaurant and a single-family home previously occupied the site. The new owner plans to redevelop the property for retail use. Nicholas Herrick, sales associate, and John Schilp, senior vice president, of NAI James E. Hanson represented the owner in the transaction.

June 17, 2013

Multifamily Northeast

PARTNERSHIP BEGINS MULTIFAMILY REHAB PROJECT IN BOSTON

by admin June 14, 2013

BOSTON — Nuestra Comunidad Development Corp. and WiSe Urban Development plan to rehabilitate Washington Park, a 130,000-square-foot, 96-unit mixed-income development in Boston. The nine-building apartment community is located minutes from downtown and is close to I-93. The design team for the project includes The Architectural Team of Chelsea, Mass., and Keith Construction of Canton, Mass. WinnResidential will serve as the property manager for Washington Park, which is slated for completion in July 2014.

June 14, 2013

Multifamily Northeast

CHOZIK BROKERS $14.4M SALE OF 176 UNITS IN NORTH HAVEN

by admin June 14, 2013

NORTH HAVEN, CONN. — Chozick Realty Inc. has arranged the sale of Briarwood Hills Apartments, a 176-unit residential community located in North Haven, for $14.4 million. Rick Chozik, president of Chozik Realty’s Hartford office, represented the buyer, Briarwood Hill LLC, and the seller, Chozick Realty Inc., in the transaction. Briarwood’s amenities include a swimming pool with sun deck, fully equipped fitness center and patio space.

June 14, 2013

Healthcare Northeast

ROCKEFELLER GROUP TO DEVELOP 100,000 SF BUILDING

by admin June 14, 2013

FLORHAM PARK, N.J. — The Rockefeller Group will develop a four-story, 100,000-square-foot medical office building for Summit Medical Group. The property is located at The Green on 140 Park Ave. in Florham Park. Summit Medical Group has signed a 15-year lease for the entire 268-acre, master-planned development. Marc Rosenberg, Cushman & Wakefield vice chairman, and Karen Graham, COO at Summit Medical Group, represented Summit Medical Group. The Rockefeller Group was self-represented by Clark Machmer, vice president, and Johanna Chervak, associate director, in the transaction.

June 14, 2013

Northeast Office

NORDBLOM CO. BUYS OFFICE BUILDING FOR $5.6M

by admin June 14, 2013

BEDFORD, MASS. — Nordblom Co. has acquired 201 Burlington Road in Bedford for $5.6 million. The property includes two connected office buildings totaling 135,000 square feet on 9.3 acres. Renovations will include a new metal façade, window system and HVAC system.

June 14, 2013

Mixed-Use Northeast

WASHINGTON TRUST FINANCES $4M FOR PROPERTY IN NORWALK

by admin June 14, 2013

NORWALK, CONN. — Washington Trust’s Commercial Real Estate Group provided a $4 million loan for the refinancing of 327 Main Ave. in Norwalk, a 92,592-square-foot mixed-use property. CVS/pharmacy and eight other tenants occupy the building. The building is located along Route 7, and was renovated in 2002

June 14, 2013

Multifamily Northeast

BEECH STREET ARRANGES $38M LOAN TO REFINANCE UNION

by admin June 13, 2013

NEW YORK CITY — Beech Street Capital has closed on a $38 million Freddie Mac CME loan to refinance The Union, a 95-unit apartment property in the Williamsburg section of Brooklyn. The property features amenities such as 24-hour doorman/concierge, swimming pool, rooftop terraces and a fitness center. Aaron Appel of Meridian Capital Group originated the loan on behalf of Beech Street. The loan carries a 10-year-term, 9.5 years of yield maintenance, and a 30-year amortization schedule.

June 13, 2013

Newer Posts

Older Posts