ROCHESTER, N.H. — New England Auto Finance has leased 2,650 square feet of retail space at 115 Farmington Road in Rochester. David Choate and Rebecca Lee of Grubb & Ellis/Northern New England represented the tenant in the transaction. Paul Kiratzis of Shoe Town represented the landlord, Hermitage Place Limited Partnership.
PHILADELPHIA — The Goldenberg Group has broken ground on a $100 million student residence project at the site of the former John Wanamaker School in Philadelphia. The 320,000-square-foot property will be located near Temple University's main campus. Bridge of Hope Community Development Corp. is partnering on the project, which will feature 832 beds across 238 residences and 11,000 square feet of ground-floor retail. The complex is slated to open in the fall of 2014. Amenities will include a fitness center, computer lab and laundry facilities on each floor.
NEW YORK CITY — Skanska USA and Forest City Ratner will soon break ground on B2, the first residential tower that is part of the Atlantic Yards Development in Brooklyn. The groundbreaking for the 32-story apartment building will be held on Dec. 18 and the building is expected to open in 2014. The 363-unit building will be located at the intersection of Dean Street and Flatbush Avenue. Amenities will include a fitness center, bike storage, a resident lounge, game room, yoga studio and roof terrace. Each unit will have a washer and dryer.
NEW YORK CITY — HFF has arranged $81 million in financing for Jamaica Center, a mixed-use property in the Jamaica section of Queens. The sponsor, Mattone Group, developed the urban retail center in 2002, which includes a 15-screen theater, office space and 375-space parking garage. Tenants include Old Navy, Bally Total Fitness and Walgreens. Robert Delitsky led the HFF team that arranged the 10-year, fixed-rate loan through Jefferies Loan Core.
TOTOWA, N.J. — Digital Realty Trust has acquired 701 Union Blvd. in Totowa, a 271,000-square-foot redevelopment property, 20 miles west of the George Washington Bridge, for $16.8 million. Digital Realty plans to redevelop the existing building into a data center. In future phases, the company plans to construct an onsite substation to support the development of additional data center capacity at the site.
STAMFORD, CONN. — ClearRock Properties has purchased a 270,000-square-foot, four-building mixed-use portfolio in Stamford. ClearRock and joint venture partner Contrarian Capital Management purchased the underlying non-performing mortgage in May, and recently completed a foreclosure. The real estate firm will begin a redevelopment and leasing project at one of the buildings, 700 Canal St., to modernize its exterior and redesign the main entrance. The property is a former industrial building that was converted to office space in the 1980s. The other buildings, 850, 860 and 880 Canal St., may undergo some renovations as well, the company stated. The portfolio is situated along the waterfront of one of the nation's largest redevelopment projects, Harbor Point, in the redeveloped South End.
BOSTON — DivcoWest Properties has acquired a four-property, 362,562-square-foot office portfolio for $106.7 million in Boston's Seaport District. The properties include 300 A St. (106,171 square feet); 313 Congress St. (70,217 square feet); 330 Congress St. (35,811 square feet); and 51 Sleeper St. (150,363 square feet). Originally constructed as wool warehouses, the assets have been converted into high-quality office spaces. Coleman Benedict and Ben Sayles led the HFF team that represented the seller, Brickman Associates, in the transaction. They also procured the buyer. Additionally, HFF arranged the $31.4 million acquisition financing for 51 Sleeper St., which was financed by Eastern Bank.
ROCHELLE PARK, N.J. — Real Estate Growth Advisors has acquired Swan Court Apartments, a 126-unit apartment community in Rochelle Park for $15 million. The sale equates to a 5.6 percent cap rate and $119,048 per unit. The property is located at 235 W. Passaic St. across the street from a ShopRite-anchored shopping center. Thomas McConnell of Marcus & Millichap represented the seller, Genwill Co., in the transaction. He also represented the buyer.
NEW YORK CITY — Johnson Capital has arranged a $24 million loan for the 133-room Marriott Fairfield Inn & Suites in the Boerum Hill neighborhood of Brooklyn. The 12-story limited service hotel opened in 2011 and is located at 181 3rd Ave. Troutbrook Co. developed the property on a site that formerly housed industrial and warehouse buildings. A CMBS lender provided the five-year loan, which will be used to refinance a construction loan. The financing features a fixed interest rate of approximately 4 percent.
GREENCASTLE, PA. — World Kitchen, a kitchenware provider, has signed two leases for industrial space totaling more than 1.6 million square feet in Greencastle and Riverside, Calif. The Greencastle location features 1 million square feet. World Kitchen plans to invest $10 million to create 20,000 square feet of new office space, replace HVAC systems throughout the facility and make other upgrades. Site work will include the expansion of trailer parking by more than 150 stalls. Michael Flynn and Jason Wurtz of NAI Hiffman represented World Kitchen in the Greencastle lease. Matrix Development Corp. represented the landlord.