PARSIPPANY, N.J. — Colliers International has arranged leases of more than 26,000 square feet of office space in northern and central New Jersey. The transactions include The Western Institutional Review Board leasing 7,048 square feet at 202 Carnegie Center in Princeton. Kevin Coleman of Colliers International represented the tenant, and Boston Properties represented the landlord, Princeton 202 Associates Limited Partnership. Bryn Cinque and James Bailey of Colliers represented HNTB Corp. in its 7,026-square-foot lease at 1 Gateway Center in Newark. Advance Realty is the landlord of the property. Cinque, Bailey and Jay Kyle of Colliers International represented Crown Castle USA Inc. in its 6,451-square-foot lease extension at 1200 MacArthur Blvd in Mahwah. MRH Real Estate Services represented the landlord, Marcon Mahwah LLC. Cinque, Baily and Leslie Meril of Colliers International represented the landlord, Normandy Real Estate Partners, in its lease deal with HealthLogix at 99 Cherry Hill Road in Parsippany. Harlan Hollander of Cushman & Wakefield represented the tenant in its 6,223-square-foot lease extension.
ITHACA, N.Y. — Walker & Dunlop Inc. has provided $70 million in bridge financing for Collegetown Terrace Apartments, a newly constructed off-campus student housing property located a half mile from Cornell University in Ithaca. Walker & Dunlop funded the loan through a subsidiary in conjunction with an institutional investor. The student housing community is being built in four phases. Once complete, the property will offer 1,177 beds in more than 800 units. The community will contain approximately 9 percent of Cornell University's off-campus student housing, according to Walker & Dunlop. Brendan Coleman of Walker & Dunlop led the team that structured the two-year interest-only bridge loan. Daniel Monte of Rose Hill Group originated the loan.
HAMBURG, N.Y. — The Cooper Commercial Investment Group has sold three retail outparcels of McKinly Mall in Hamburg for $5.6 million. Hamburg is located about 14 miles south of Buffalo. Tenants of the fully leased outparcels include Olive Garden, Pier 1 Imports, FedEx Office, Aspen Dental, GameStop, Sprint, Beltone and Ichiban Sushi. Olive Garden and Pier 1 Imports are both single-tenant, freestanding buildings. Dan Cooper of Cleveland-based Cooper Commercial represented the seller, Beachwood, Ohio-based BG McKinley II LLC, in the transaction. The buyer was a private investor based in New York.
CLIFTON, N.J. — Cushman & Wakefield has arranged an 11,000-square-foot lease for manufacturing space at 125 Kingsland Ave. in Clifton, N.J. Bonni Heller of Cushman & Wakefield's East Rutherford office represented the tenant, glass manufacturer Pilkington North America Inc., in the long-term lease. The new location is one of nearly 100 Pilkington automotive glass replacement facilities in the U.S. Andrew Somple of NAI James E. Hanson represented the landlord, 1913 Realty Associates.
CAMBRIDGE, MASS. — Skanska has signed a $130 million contract with Novartis for the expansion of its pharmaceutical research campus in Cambridge, about three miles west of Boston. Novartis, a pharmaceutical company based in Basel, Switzerland, is an existing client of Skanska. The initial work on the project began in 2012 and the expansion will be completed in 2015.
NEW YORK CITY — In a two-part transaction, Colliers International has arranged the relocation of The Albert Ellis Institute, a nonprofit psychotherapy training institute, from the Upper East Side to Midtown South. In the first transaction, Colliers arranged the sale of The Albert Ellis Institute headquarters, a six-story townhouse located at 45 E. 65th St., to a private buyer. The building is located between Madison and Park avenues. In the second transaction, Colliers arranged an 8,000-square-foot sublease on behalf of the institute at 145 E. 32nd St., a 102,000-square-foot medical office building in Midtown South. Eric Meyer and Marty Meyer of Colliers International Tri-State own the office building. The institute sublet the entire ninth floor from Ameripath, a subsidiary of Quest Diagnostics. Keith Cody of CBRE represented Ameripath in the sublease.
LOGAN TOWNSHIP, N.J. — Marcus & Millichap has arranged the sale of a new 70,000-square-foot refrigerated food storage and distribution building, located within the LogistiCenter business park at 1155 Commence Blvd. in Logan Township, 12 miles south of Philadelphia. The facility is triple-net leased to Albert's Organics/United Natural Food Inc. John Glass and Scott Pertel of Marcus & Millichap's San Francisco office represented the seller in the transaction. The buyer was a New York-based publicly traded REIT. Michael Fasano of Marcus & Millichap also provided representation in the transaction.
NEW YORK CITY — Trevi Retail, a private real estate operation firm, has purchased 859 Ninth Ave., a six-story mixed-use property in the Hell's Kitchen neighborhood of New York City. The property features one large commercial unit and 41 apartments. Puttenesca, an Italian restaurant, currently occupies the commercial unit. Paul Smadbeck and Christoffer Broadhead of Massey Knakal brokered the transaction. Trevi Retail has acquired 18 properties, including 859 Ninth Ave., since its founding in October 2011.
NEW YORK CITY — Northwood Investors, a privately held global real estate investment firm, has purchased 100 Broadway, a 24-story office building in Manhattan. The purchase price was undisclosed. Located on the southeast corner of Broadway and Pine Street, the historic downtown office building includes two floors of retail and 22 office level floors. The property features 360,000 square feet of office, as well as 40,000 square feet of retail. Brookfield Financial, a global investment bank and real estate investment sales firm, arranged the off-market transaction.
BLUE BELL, PA. — An affiliate of Endurance Real Estate Group LLC has acquired 960 Harvest Drive, a three-building suburban office portfolio in Blue Bell, for $4.1 million. The portfolio includes one single-story and two two-story buildings totaling 129,430 square feet. Endurance acquired the largely vacant portfolio from a REIT. Constructed in 1988, the portfolio features single- or multi-tenant floor plans with parking surrounding the buildings. The Bala Cynwyd, Pa.-based owner and developer plans to upgrade the building systems and renovate the lobbies and common areas. Endurance will also address deferred maintenance of the parking lots, landscaping and signage. The company has hired John Susanin and Kyle Hilbert of Colliers International to lease the portfolio.