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.
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.
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.
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.
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.
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.
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.
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.
LONG ISLAND CITY, N.Y. — A 322,390-square-foot industrial building has sold for $40.7 million to two tenants-in-common entities. The three-story industrial property, which is managed by BLDG Management Co., is located at 47-25 34th St. in Long Island City, the westernmost neighborhood of New York City. Current tenants in the building include Polo Ralph Lauren, Gander and White and Eleni’s Bakery, among others. RFK Investment Sales and Advisory Services represented the seller, 4725-34 Associate LLC, and the buyer in the deal.
ENGLEWOOD, N.J. — Lee & Associates has closed the $9 million industrial sale of 330 S. Van Brunt St. in Englewood. Built in 1979, the single-tenant, net-leased facility is leased to DENTSPLY, a global manufacturer of affordable dental products. Michael Schaible of Lee & Associates represented the seller, Humphrey S. Lewis Urban Renewal Corp., Jeffrey Miller, also of Lee, represented the buyer, ITT Acquisitions LLC.