BOSTON — Suffolk Construction has broken ground on a $127 million residential tower, known as 120 Kingston Street, in Boston. The 293,000-square-foot tower will border the city's Chinatown neighborhood and the Rose Fitzgerald Kennedy Greenway. The 26-story tower will feature 240 apartments ranging from studios to three-bedroom units and 4,500 square feet of street-level retail space. The building will be triangular in shape and is scheduled for completion in 2014. The project teams include developers Forest City and Hudson Group North America, architect firms Elkus Manfredi Architects and Perkins Eastman for the exterior of the building and RODE architects for the interior spaces.
NEW YORK CITY — Johnson Capital has arranged a $2.3 million loan for the 36,000-square-foot Spice Factory mixed-use property in Flemington. The property consists of a three-story, 32,000-square-foot office building and a two-story retail building. The property is a former spice factory built in 1930 and converted into office space in 2001. The borrower purchased a defaulted loan at a discount to the unpaid principal balance and simultaneously took title through a pre-negotiated agreement with the owner. The new 18-month loan accounts for 67 percent of the total project costs, including property acquisition, fees and transaction costs.
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.
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.
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.
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.
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.
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.
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.
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.