BEDFORD, N.H. — An extensive renovation of the Manchester Country Club in Bedford is currently under way. The project cost is estimated at $7 million, according to the New Hampshire Union Leader. The clubhouse, located at 180 S. River Road in Bedford, was built in 1923. The project includes an expanded and renovated 4,000-square-foot ballroom, a new conference center with a rooftop deck, a private member dining area, renovated locker rooms and a new 10,780-square-foot pro shop and training facility. The renovation is scheduled for completion this spring. Eckman Construction is the general contractor. The project was financed through Bank of America and some member contributions.
NEW YORK CITY — Colliers International has arranged an 11,000-square-foot sublease for iLevel Solutions at 2 Penn Plaza in New York City. The software company will sublease a portion of Forest Electric’s space on the fourth floor. Built in 1967, 2 Penn Plaza is a 29-story commerical building located on Seventh Avenue between 31st and 33rd streets. Mark Mandel of Cushman & Wakefield represented the sub-tenant, iLevel Solutions, in the transaction. iLevel Solutions provides private equity firms with cloud-based platforms. Forest Electric, a subsidiary of EMCOR Group Inc., provides commercial electrical contracting services to end-users, building owners and construction companies.
NEW YORK CITY — Seattle-based Sabey Data Center Properties has opened Intergate.Manhattan, a 1 million-square-foot, high-rise data center located at 375 Pearl St. in Lower Manhattan. The 32-story data center includes state-of-the-art climate control and electrical systems. Sabey’s goal for Intergate.Manhattan is that it will accommodate 40 megawatts of critical data center capacity on 600,000 square feet of data center floor space. Intergate.Manhattan is providing computing cycles to support medical research by the New York Genome Center, the building’s first tenant.
PHILADELPHIA — Rosemont Realty LLC has acquired 2000 Market Street, a 665,659-square-foot office property in Philadelphia, from a fund controlled by CBRE Global Investors. The sales price was not disclosed, but the Philadelphia Business Journal reports that the building traded for an estimated $110 million. The 29-story building was built in 1972 and was renovated in 2012. The 2000 Market Street complex was 95 percent occupied at the time of sale. Tenants include Marshall Dennehey, Fox Rothschild LLP, The Board of Pensions of the Presbyterian Church, Zurich American Insurance, Weber Gallagher, Hamburg Sud Group, Francis Cauffman and Duff & Phelps. CBRE will continue to provide property management and leasing services for the building. Robert Fahey of CBRE brokered the transaction.
JERSEY CITY, N.J. — Premier Motor Lines has signed a 97,453-square-foot industrial lease at 2 Colony Road in Jersey City. The 262,000-square-foot warehouse facility was built in 1976. The building has 24-foot ceilings, 40 tractor-trailer parking spaces and an active rail. Matthew Corpuel of CBRE represented Premier Motor Lines in the transaction. Bill Waxman, Mindy Lissner and Nicholas Nitti of CBRE represented the landlord, RREEF Management LLC. Premier Motor Lines is a third-party warehousing and logistics company that provides food-grade warehousing, brokerage and private fleet service to New York, New Jersey, New England and Eastern Pennsylvania. The business is relocating from 397 E. 54th St. in Elmwood Park.
NEW YORK CITY — Marcus & Millichap has arranged the sale of 6203 5th Ave., a 3,527-square-foot, mixed-use property in Brooklyn for $950,000. The property is located in Chinatown and was sold in an all-cash transaction. Jakub Nowak and Derek Bestreich of Marcus & Millichap represented the seller, a private investor, in the transaction. Nowak, Bestreich, Mark Lu and Erik Lundberg of Marcus & Millichap represented the buyer, a private investor.
WALTHAM, MASS. — Equus Capital Partners, formerly BPG Properties Ltd., has sold Totten Pond Office Park, a three-building office park, for $47 million. The 297,603-square-foot office park is located at 400 and 410 Totten Pond Road in Waltham, a western suburb of Boston. Tenants at Totten Pond Office Park include Lewtan Technologies Inc., Mass Electric Construction and Milestones Inc. At the time of the sale, the office park was 83 percent occupied. Rob Griffin, Edward Maher and Matt Pullen of Cushman & Wakefield represented Equus in the transaction.
NEW YORK CITY — Stan Johnson Co. has completed the sale of a retail development property for $8.4 million. The property is fully leased to Bank of America and is located at the intersection of 18th Avenue and 66 Street in Brooklyn. Nearby tenants include Walgreens, CVS/pharmacy, TD Bank, Chase Bank, McDonald’s and Starbucks. Jason Maier of Stan Johnson Co. represented the seller, a private corporation, and the 1031 tax-deferred exchange buyer, an individual investor, in the transaction. The property is slated for completion by mid-year 2013.
BERNARDS TOWNSHIP, N.J. — Hitachi Power Systems America Ltd. has renewed its lease for 50,000 square feet at Liberty Corner Executive Center in Bernards Township, about 25 miles west of Newark. Liberty Corner Executive Center, a three-story, 86,000-square-foot Class A office building, is located at the intersection of Route 78 and Martinsville and Liberty Corner roads. Murray Construction recently completed a renovation, which included a new central chiller, new roof, facade work and upgrades to common areas. Merrill Roth of Newmark Grubb Knight Frank represented Hitachi, which has occupied the space since 2005, in the transaction.
GLOUCESTER, N.J. — Boston Capital has provided a $2.6 million mortgage financing for Revere Run at Park Place, an 80-unit multifamily development, in Gloucester, located about eight miles east of Philadelphia. The fixed-rate, two-year loan carries a 15-year term. Located on eight acres, Revere Run at Park Place will feature 15 one-bedroom, 41 two-bedroom and 24 three-bedroom units in six three-story buildings. Units will include central air conditioning, dishwashers and high-speed Internet.