Northeast

MILESTONE GROUP SELLS 128-UNIT APARTMENT BUILDING FOR $67M

by admin February 14, 2013

HOBOKEN, N.J. — The Milestone Group & Invesco has sold The Juliana, a 128-unit luxury multifamily property in Hoboken for $67 million. AEW Capital Management LP purchased the asset on behalf of the AEW Core Property Trust, the firm’s core open-end fund. Completed in 2007, The Juliana includes two four-story buildings surrounding a 25,000-square-foot courtyard. The property, which is 95 percent leased, offers one-, two- and three-bedroom units averaging 1,068 square feet. Located at 600 Jackson St. and 601 Harrison St., The Juliana is within walking distance to the 9th St. Light Rail station and local bus lines. HFF represented The Milestone Group in this deal.

February 14, 2013

HOSPITAL FOR SPECIAL SURGERY ACQUIRES NEW YORK DEVELOPMENT SITE FOR $31M

by admin February 14, 2013

NEW YORK CITY — Hospital for Special Surgery, the nation’s oldest orthopedic hospital, has acquired a development site in Manhattan for $31 million. The property, located at 517 and 523 E. 73rd St. between York Avenue and FDR Drive, can support more than 130,000 square feet of development. The hospital plans to use the site for the expansion of its eastside campus. Vincent Carrega and Jon Epstein of Avison Young’s capital markets group represented the seller, a private family owner.

February 14, 2013

Northeast Office

REVAL.COM LEASES 7,076 SF OF OFFICE SPACE IN PARKVIEW TOWER

by admin February 14, 2013

KING OF PRUSSIA, PA. — Philadelphia-based Keystone Property Group has signed Reval.com Inc. to a 66-month lease for 7,076 square feet of office space at Parkview Tower in King of Prussia. The nine-story, Class A office building is 220,513 square feet and located at 1150 First Ave. Reval.com provides software on demand for treasury and risk management companies. Peter Strickler of DTZ, a UGL Co., represented Reval.com in the deal.

February 14, 2013

Northeast Office

HYPERACTIVE MULTIMEDIA LEASES 3,200 SF OF OFFICE SPACE IN QUINCY, MASS.

by admin February 14, 2013

QUINCY, MASS.— HyperActive Multimedia Inc., a multimedia service provider, has signed a lease for 3,200 square feet of office space at the landmark Willard Building, located at 1266 Furnace Brook Parkway in Quincy. The four-story office building is 44,997 square feet and was built in 1891. Richard McKinnon of locally based The Grossman Companies represented the tenant and the landlord in the deal.

February 14, 2013

Industrial Northeast

ASHLEY BUSINESS PARK SELLS FOR $8.2M IN NORTHERN NEW JERSEY

by admin February 13, 2013

CRANFORD, N.J. — Ashley Business Park, a 259,670-square-foot light industrial complex in Cranford, has sold for $8.2 million. Cranford Business Park LLC, a partnership of three major tenants at the property, acquired the asset. The business complex is located at 570 S. Ave., about 15 miles southwest of New York City. Renovated in 2000, the property is 88 percent leased and includes 187,881 square feet of industrial space and 71,289 square feet of office spaces. HFF marketed the property on behalf of the court appointed rent receiver, Onyx Equities LLC.

February 13, 2013

Northeast Retail

EAGLEBRIDGE ARRANGES $6.24M MORTGAGE FOR BOSTON VERIZON FACILITY

by admin February 13, 2013

BOSTON — EagleBridge Capital has arranged a $6.24 million mortgage loan for the Verizon Wireless facility in Boston. The 56,870-square-foot facility is net leased to Verizon, which has been a tenant at 173 Boston St. for more than 38 years. The property includes a mix of office and service space including a carport and warehouse building. Ted Sidel and Brian Sheehan of locally based EagleBridge arranged the mortgage financing.

February 13, 2013

Mixed-Use Northeast

IDEAL DEVELOPMENT ACQUIRES 15,000 SF DEVELOPMENT SITE FOR $4.2M

by admin February 13, 2013

BROOKLYN, N.Y. — Ideal Development has purchased 442 Grand St., a 15,000-square-foot development site in Brooklyn for $4.2 million. Ideal plans to develop rental apartments on the site, a former gas station, which offers 45,000 square feet in buildable space. The building is also slated to have ground-floor retail. James Dari and Fred Rufrano of locally based Kalmon Dolgin Affiliates represented Ideal and the seller, Keap Grand LLC, in the deal.

February 13, 2013

Healthcare Northeast

ROTHMAN INSTITUTE SIGNS 10-YEAR LEASE IN NEWTOWN, PA.

by admin February 13, 2013

NEWTOWN, PA.. — The Rothman Institute, the largest orthopedic group in metro Philadelphia, has signed a 10-year, triple-net-lease valued at more than $2 million in Newtown. This will be Rothman’s 15th location in the Philadelphia/New Jersey area. The two-story, 11,060-square-foot building is located in The Village shopping center at 1700 S. Eagle Road. Other tenants in the 128,700-square-foot shopping center include PetSmart, Ace Hardware, Olly Shoes, Wendy’s, Sleepy’s and PNC Bank.

February 13, 2013

Industrial Northeast

J.B. HUNT TRANSPORT LEASES 24,000 SF IN WINDSOR CONN.

by admin February 13, 2013

WINSOR, CONN. — Griffin Land has signed J.B. Hunt Transport Services Inc., a logistics management compmany, to a lease for 24,000 square feet of industrial space at 75 International Drive in Windsor. 75 International Drive is a 117,000-square-foot industrial building that includes a steel frame and 26-foot high ceilings. Chris Metcalfe and Jeffrey Sperry of CB Richard Ellis represented J.B. Hunt, and Griffin Land represented itself in the deal.

February 13, 2013

Industrial Northeast

BARNES & NOBLE DISTRIBUTION CENTER BUILDING SELLS FOR $83M

by admin February 12, 2013

MONROE TOWNSHIP, N.J. — CenterPoint Properties has purchased Barnes & Noble’s primary distribution center building for $83 million in Monroe Township. The 1.15 million-square-foot industrial property was constructed in 2005 and is located at Exit 8A of the New Jersey Turnpike. Cushman & Wakefield represented the buyer and the seller, a pension fund advisory firm. Barnes & Noble’s lease runs through 2020.

February 12, 2013

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