STOUGHTON, MASS. — Fairfield Indian Woods has acquired Alta at Indian Woods, a 154-unit, Class A apartment community in Stoughton for $27.5 million. Apartment units average 873 square feet and community amenities include a cyber cafe, 24-hour access fitness center, outdoor fire pit and putting green. Simon Butler and Biria St. John of CB Richard Ellis — N.E. Partners represented the seller, SPUS05 Wood Alta at Indian LLC (a joint venture between Wood Partners and an institutional partner), in the transaction.
NEW YORK CITY — Macy's Inc. has signed a 31,700-square-foot lease expansion to occupy the entire 10th floor of 1440 Broadway in Times Square. The office transaction also concurrently extends the lease for 166,000 square feet on floors six through nine and 13. The retailer now occupies more than 197,000 square feet at the property. The dual transaction also represents Macy's third expansion at the property in the past 24 months. Scott Gottlieb and Michael Laginestra of CBRE Group represented the tenant in the transaction. Monday Properties owns and manages the property.
NEW YORK CITY — Vornado Realty Trust has closed on its previously announced acquisition of a retail condominium at 666 Fifth Ave. in New York CIty for $707 million. The condo is leased to Uniqulo, Hollister and Swatch. Vornado also owns one-half of the office building above. The company's retail portfolio now includes 2.3 million square feet.
WESTPORT, CONN. — An investment consortium from New York and Darien, Conn. has purchased a two-building retail property in Westport for $18.2 million. The buildings total 50,000 square feet and are situated on 3.4 acres. Anthropologie and Balducci's are the main tenants of the property. Bruce Wettenstein and David Fugitt of Vidal/Wettenstein Commercial Real Estate represented both parties in the transaction.
NEWINGTON, CONN. — Kleban Properties, a family-owned real estate developer, has secured a $2.3 million loan for the purchase of a 10,478-square-foot retail plaza in Newington. The plaza, located at 3260 Berlin Turnpike, includes two restaurants. Washington Trust provided the financing.
NEW YORK CITY — An eight-story parking garage in Greenwich Village has sold for $32 million, or $700 per square foot. The property is located on the southern side of East 13th Street, between University Place and Fifth Avenue. The 45,032-square-foot garage is ripe for redevelopment after the building's last tenant Hertz Rental Car vacated its space once its lease expired. Another former parking garage on East 11th Street was recently converted into a luxury condominium building. Alan Cohen, Steven Hornstock, Adam Maxson and Justin Strizzi of ABS Partners represented the seller in the transaction.
NEW YORK CITY — Cresa will serve as project manager for a plan to redevelop 821 United Nations Plaza in New York. The project, which will begin next month, will demolish the existing structure and erect a modern facility that reflects Turkish art, culture and architecture. The facility, known as the Turkevi Center, will serve the Republic of Turkey's Consulate General and Permanent Mission to the United States. The center will consist of offices and diplomatic residences for permanent staff and visitors. Cresa will also serve as the owner's representative. During the construction process, the UN Mission and Consulate will be relocated to temporary space until the project is complete.
PENNSAUKEN, N.J. — Restaurant Equippers has signed a 45,524-square-foot lease at The Point in Pennsauken. Restaurant Equippers, one of the largest restaurant equipment warehouse stores in the country, will open its first location in the area in the spring of 2013. The Point is an 118,000-square-foot mixed-use complex, which previously served as a movie theater building. The property is located at the intersection of Route 38 and Route 70. Brandon Anapol of Metro Commercial Real Estate represented the tenant in the transaction. The Glimcher Group represented the landlord.
FRAMINGHAM, MASS. — Centercorp Retail Properties has acquired a TD Bank-anchored retail center in Framingham for $1.8 million. The 12,080-square-foot center is located at 1255 Worcester Road. Additional tenants include The UPS Store and Lapels Dry Cleaning. Bob Hovarth and Todd Tremblay of Marcus & Millichap represented the seller, Crosspoint Associates. Hovarth and Tremblay also represented the buyer.
BOSTON — Suffolk Construction has broken ground on the second phase of The Homes at Old Colony, a multifamily redevelopment project in South Boston. The $50 million project will include the demolition of 223 distressed units and the construction of 169 affordable rental units. Prior to the redevelopment, the Old Colony public housing was the most physically distressed property in the Boston Housing Authority's portfolio. As a result, the BHA developed a master plan and received $44 million in federal funding to move the project forward. Phase I featured the demolition of 164 deteriorated units and construction of 116 new affordable housing units. Beacon Communities Development is the project developer and The Architectural Team is providing design services.