Northeast

CAMPANELLI SELLS PROPERTIES TOTALING 200,000 SF IN TWO DEALS

by admin October 2, 2012

WILMINGTON, MASS. — Campanelli has sold four properties totaling 198,000 square feet in Wilmington that are part of the GS Portfolio. Campanelli acquired the eight-building portfolio in 2010. Spaulding & Syle Investments acquired 255 and 261 Ballardvale in Wilmington for $5.8 million. The buildings total 85,067 square feet. Jones Lang LaSalle represented the seller in the transaction. In a separate deal, Cabot Properties purchased 10 Cornell Place and 265 Ballardvale in Wilmington for a combined $9 million. 10 Cornell Place is a 39,727-square-foot, single-tenant flex building that is net leased to FedEx until 2021. 265 Ballardvale is a 73,500-square-foot flex building that is fully leased to four tenants.

October 2, 2012

ENGINEERING FIRM SIGNS 81,371 SF HEADQUARTERS LEASE

by admin October 2, 2012

ISELIN, N.J. — Hatch Mott MacDonald, a consulting engineering firm, has signed a lease for 81,371 square feet of office space at MetroTop Plaza II, located at 111 Wood Ave. South in Iselin. The company plans to use the space for its corporate headquarters and is relocating from Millburn, N.J. The company is expected to occupy the space in early 2013. James Schroeder and Joe Messina of Studley represented the tenant in the transaction. Cushman & Wakefield represented the landlord, Atlantic Realty Development Corp.

October 2, 2012

Multifamily Northeast

CLEARVIEW APARTMENTS TRADE FOR $3.4M

by admin October 2, 2012

FALL RIVER, MASS. — TAG Fall River Real Estate II LLC has acquired the 49-unit Clearview Apartments in Fall River for $3.4 million. The property, located at 4000 N. Main St., includes two buildings containing 42 two-bedroom units and seven one-bedroom units. The apartments feature central air conditioning and either a balcony or ground-level patio. Carl Christie and Dan McGee of NAI Hunneman represented the seller, Clearview Investments, in the transaction. They also procured the buyer.

October 2, 2012

Civic Northeast

HOLLISTER BREAKS GROUND ON N.J. ALL STARS CENTER

by admin October 2, 2012

NEWARK, N.J. — Hollister Construction Services has started work on the 9,000-square-foot New Jersey All Stars Center for Afterschool Development at 33 Washington St. in Newark. The building will open in 2013 as a headquarters for the All Stars Project, a nonprofit organization dedicated to promoting youth development. The facility will enable the organization to expand its programming and partnerships in the community. Douglas Balder, an All Stars Project National board member and architect, designed the project. Posen Architects will serve as architect of record.

October 2, 2012

Northeast Retail

SAM'S CLUB TO JOIN CROSSROADS AT 24 PROJECT

by admin October 1, 2012

FALL RIVER, MASS. — Sam's Club plans to open a 160,000-square-foot location at the new Crossroads at 24 retail complex in Fall River. The property will be adjacent to the 165,000-square-foot Walmart, currently under construction. The store will mark the first Sam's Club in the South Coast region, and is expected to generate $3 million annually in tax revenue for the Commonwealth of Massachusetts. Construction is slated to begin later this year. A partnership between First Bristol Corp. and Marshall Properties is developing the Crossroads at 24, a 350,000-square-foot, mixed-use retail center.

October 1, 2012

Industrial Northeast

METRO LOGISTICS SIGNS 82,000 SF LEASE IN NEW JERSEY

by admin October 1, 2012

WOODBRIDGE, TWP., N.J. — Metro Logistics has signed a lease for 82,000 square feet at 4 Engelhard Ave. in Woodbridge Twp., N.J. The warehouse, trucking and distribution operator is relocating from a 25,000-square-foot building in Secaucus. Daniel Badenhausen and Andrew Stypa of Metro Logistics represented the landlord in the transaction.

October 1, 2012

Northeast Office

JLL TO SERVE AS LEASING AGENT FOR TOWERS TOTALING 3.7M SQUARE FEET

by admin October 1, 2012

NEW YORK CITY — Brookfield Office Properties selected Jones Lang LaSalle as the office leasing agent for One World Financial Center and Three World Financial Center in New York City. The properties total 3.7 million square feet. John Wheeler will lead the Jones Lang LaSalle team overseeing the assignment. The team also includes Paul Glickman and Clayton Cline. One World FInancial Center is a 40-story tower, located at 200 Liberty St. Three World Financial Center is a 53-story tower at 200 Vesey St.

October 1, 2012

Industrial Northeast

COPART ADDS FACILITY IN NEW HAMPSHIRE

by admin October 1, 2012

WEBSTER, N.H. — Copart, a real-time online vehicle auction company, has opened a new facility on 17 acres in Webster. The facility is Copart's first in the state, and the 157th facility worldwide. The property will service the entire state of New Hampshire as well as the eastern portion of Vermont.

October 1, 2012

Multifamily Northeast

APARTMENT PORTFOLIO SECURES $10.9M REFINANCING LOAN

by admin September 28, 2012

PHILADELPHIA — Beech Street Capital has arranged a $10.9 million Fannie Mae loan for the refinancing of a four-property apartment portfolio, totaling 230 units, in Philadelphia. Avi Weinstock and Chaim Tessler of Meridian Capital Group originated the seven-year loan. The properties were constructed in the 1950s and 1960s and major renovations have been completed in the past five years. Each property is fully occupied.

September 28, 2012

Mixed-Use Northeast

MIXED-USE BUILDING SELLS FOR $10.1M IN COLLEGE POINT

by admin September 28, 2012

NEW YORK CITY — A mixed-use building at 14-34 110th St. in Queens has sold for $10.1 million. The seven-story building, which was completed in 2006, includes 34 residential units, 23,585 square feet of office space and a 12,000-square-foot lobby. Amenities include a gym, laundry room, storage room and roof deck. The property is located on the College Point waterfront and has the potential to add a marina development with 50 boat slips. Stephen Preuss and Evan Daniel of Massey Knakal represented both parties in the transaction.

September 28, 2012

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