FALL RIVER, MASS. — New England Construction has completed a 20,000-square-foot renovation of Bristol Community College's new Workforce Center, located at Commonwealth Landing in Fall River. The center includes 28 offices and 11 classrooms and will house the college's corporate education services, community education and workforce literacy program. The project included the construction of a new stair tower and upgrades to the building's existing lobby and elevator. The property is located at 1080 Davol St.
MORGANTOWN, PA. — Consolidated Graphics, a printing company, has purchased a 110,000-square-foot industrial property at 110 Thousand Oaks Blvd. in Morgantown. The property features 30,000 square feet of office space and 80,000 square feet of industrial space. The new owner plans to consolidate two of its existing facilities in eastern Pennsylvania into the new space. Timothy Brogan and Timothy Pennington of Grubb & Ellis represented The Hampshire Cos. in the transaction. Pete Pitroff of Jones Lang LaSalle represented the buyer.
BOSTON — Chestnut Hill Realty is nearing completion of a $12 million expansion project at its Ridgecrest Village Apartments property in Boston. The project will include the addition of a 48-unit apartment building, bringing the total number of units at the property to 389. The project will also include the addition of a new pool, clubhouse with fitness center and the expansion of on-site parking. The new apartment building, designed by Lowe Associates-Architects, is scheduled for completion later this month. Rents for the one-bedroom units will start at $1,650 per month, while two-bedroom units are priced starting at $1,950 per month.
WESTBOROUGH, MASS. — Ameridose LLC has purchased 205 Flanders Road, a 76,126-square-foot manufacturing building in Westborough, for $4.5 million. DSN Realty Trust is the seller. Ameridose, which provides sterile admixing services to hospital pharmacies, is currently occupying the facility. Craig Johnston and John Eysenbach of R.W. Holmes Realty represented both parties in the transaction.
BRUNSWICK, MAINE — Tremont Realty Capital has arranged a $9.5 million loan for the refinancing of Bay Bridge Estates, a manufactured housing community in Brunswick. The 493-site mobile home park features water views as well as RV and boat storage. John Chase of Tremont Realty Capital arranged the 10-year, non-recourse loan, which has a 30-year amortization schedule. The property is 83.5 percent occupied.
QUINCY, MASS. — UBS, a Zurich-based asset manager, has renewed and expanded its lease to 26,425 square feet at the Ten 99 building, located at 1099 Hingham St. in Quincy. Richard McKinnon of The Grossman Cos. represented the landlord, Rockland Haverstraw, in the transaction. Stephen Woelfel and Laura Finamore of Cushman & Wakefield represented the tenant.
Retail activity in Greater Pittsburgh will likely gain positive momentum through the remainder of 2012, with moderate growth expected in 2013. Grocery stores, local restaurants, fast casual national chain restaurants, medical retail, and upgraded locations for existing national tenants have led the way for recent retail activity in Pittsburgh. The general atmosphere at the annual ICSC RECon convention in Las Vegas was upbeat and optimistic regarding the retail sector recovery nationally. I believe that the ICSC convention is a strong indicator that retail growth is headed in an upward direction. The Pittsburgh retail markets are broken into four quadrants: North (Cranberry/Wexford), South (South Hills Village/Mt. Lebanon), East (Monroeville/Murrysville) and West (Robinson). The Cranberry/Wexford market continues to be the most active, with sales being driven by the new 500,000-square-foot McCandless Crossing Development. Tenants there include Lowe’s, LA Fitness, Hilton, Fidelity Bank and Cinemark. The Northern quadrant along the Route 228 corridor continues to develop with new projects, such as the relocation of Dick’s Sporting Goods to a new larger facility and the completion of the Cambria Suites project. Additional activity on the Route 228 corridor includes a new free-standing La-Z-Boy furniture store, GetGo gas and convenience store, and two additional outparcels …
NEW YORK CITY — SBE and Moin Development Corp. are teaming up to build a new SLS Hotel in New York, the first in the city for the luxury brand. Crews will convert an existing office building into a 190-room hotel located at 444 Park Ave. South in Manhattan. The hotel will also feature bar venues in the lobby and a restaurant concept on the rooftop. It will be the third SLS Hotel in the U.S. and is slated to open by 2013. The reported cost of construction is $85 million
NEW YORK CITY — TreeTop Development has purchased a 52-unit apartment building with 12,000 square feet of retail and commercial space in Manhattan for $8.8 million. TreeTop plans to invest $2.5 million in upgrades to the property, which is located at 165 West 127th St. Apartment rents at the property will start at $1,600 for one-bedroom units and $1,800 for two-bedroom units. Three-bedroom units will be priced at $2,200.
LEXINGTON, MASS. — Stone River Properties has purchased the Marrett Square shopping center in Lexington for $2.52 million. Tenants at the 16,791-square-foot retail center include Anton's Cleaners and Boston Nail & Spa. The center is also located 1.5 miles from Interstate 95. Robert Tito and Gina Barroso of NAI Hunneman represented the seller, Camblex Realty Trust, in the transaction. They also procured the buyer.