PERTH AMBOY, N.J. — The Shoppes at Victory Village, a 32,349-square-foot mixed-use property in Perth Amboy, has sold for $6.7 million. The property is located at 553-559 Sayre Ave. and includes 15 apartment units and 18,000 square feet of retail. Tenants include 7-Eleven, Dollar General and Popeye's. Ben Sgambati, Alan Cafiero and David Cafiero of Marcus & Millichap represented the seller, a regional developer, in the transaction. They also secured the buyer, a partnership.
SPRINGFIELD, MASS. — Stag Industrial Holdings has acquired Westover Road, a warehouse and distribution building in Springfield for $8.3 million. The seller is Brookwood Financial Partners, which purchased the property in 2010 for $4.5 million. The property, located at 2189 Westover Road, is fully occupied by Big Y, a supermarket chain. Jim Thompson of Thompson Partners represented the buyer in the transaction. Brookwood was self-represented.
WESTFORD, MASS. — Colliers International has arranged an $18.6 million loan to refinance The Michelson Farm – Westford Technology Park, Buildings 5 and 8 in Westford. The buildings are located at 7 and 9 Technology Park Drive and total 230,000 square feet. John Broderick negotiated the long-term loan on behalf of the borrower, The Gutierrez Co., which developed the property in 1996. Blue Hills Bank provided the loan.
LIMERICK, PA. — MVD Entertainment has purchased a 30,000-square-foot warehouse and office property at 203 Windsor Road in Limerick. The audio visual distribution business is relocating from Oaks, Pa. The property is located inside the Limerick Airport Business Center and offers quick access to Route 422. Neil Shupak and Justin Bell of Newmark Knight Frank Smith Mack represented the buyer in the transaction. MVD plans to move into the space in January.
BOSTON — Jocote LLC has acquired two Boston apartment buildings for $6.9 million. The properties are located in the Kenmore Square area of the city at 41 and 43 Bay State Road. The brownstone buildings, constructed between 1891 and 1892, each feature views of the Charles River. Carl Christie and Dan McGee of NAI Hunneman represented the seller, Tosi LP, in the transaction. They also procured the buyer.
CHELMSFORD, MASS. — Kronos Inc. has renewed its lease for 81,760 square feet at 4 Omni Way in Chelmsford for an additional five years. Kronos specializes in workforce management solutions. Completed in 1985, 4 Omni Way is a two-story office and research and development facility on eight acres of land northwest of Boston. Krosno's total square footage of its campus is 322,000 square feet spread across multiple buildings. John Boyle and Michael Dalton of Cassidy Turley FHO represented Kronos in the transaction. The landlord, Direct Invest, was self-represented by Bill Rand and Peter Evans.
BROCKPORT, N.Y. — Calkain Cos. has arranged the $3.7 million sale of a 22,500-square-foot Tractor Supply store in Brockport. Tractor Supply is leasing the property on a long-term, triple-net basis. Andrew Fallon of Calkain Cos. represented the seller, a real estate investor and developer, in the transaction. The buyer is a private investor based in New York.
QUINCY, MASS. — Beal/Street-Works has unveiled construction plans for the first phase of Quincy's historic $1.6 billion Quincy Center, which is scheduled to break ground in 2013. The $120 million first phase includes a 15-story luxury apartment building and five-story residential building featuring loft-style units. The design also includes a new pedestrian-friendly promenade behind the existing Granite Trust building. In total, the plan includes about 30,000 square feet of retail space. The first stage of construction is slated for completion in late 2013. The city's planning board will review the construction drawings to ensure the plans meet the downtown guidelines and hold a public hearing. No date has been set.
BOSTON — Trinity Stuart LLC, a local development partnership, has announced plans for the redevelopment of the existing Boston Common Hotel and Conference Center. The project includes replacing the existing structure with a 33-story, mixed-use building. The new property will be comprised of a 220-room hotel and 142 apartment units that will range in size from compact studios to three-bedroom units. Plans for the lower level call for two restaurants and 100 parking spaces. Suffolk Construction is the construction manager for the project and The Architectural Team and Stonehill & Taylor Architects are designing the building. Construction is expected to begin in the fall of 2013.
WATERTOWN, MASS. — 480 Biomedical has renewed its lease for 27,311-square-foot laboratory facility at 480 Arsenal St. in Watertown. The company develops bioresorbable scaffold for treating occlusive disease in the superficial femoral artery. 480 Arsenal St. is a 141,000-square-foot lab building located less than five miles from Interstate 90 and the Massachusetts Turnpike. Tucker Hansen and Joe Flaherty of Colliers International represented the tenant in the transaction. The landlord is Alexandria Real Estate Equities.
