Northeast

MEDICAL FACILITY BREAKS GROUND IN HOLDEN

by admin July 6, 2012

HOLDEN, MASS. — Construction crews have broken ground on a three-story, 36,000-square-foot medical office building in Holden. Oriol Health Care, a family-owned healthcare organization, and Reliant Medical Group, a multi-specialty medical group, will occupy the space. The property will be located on the site of the former Holden District Hospital on Boyden Road. Reliant Medical Group will take 17,000 square feet in the building and offer a family medical practice, laboratory, pharmacy, radiology, OB/GYN services and an optical center. Cutler Associates is constructing the property, which is expected to be complete by the spring of 2013. Margulies Perruzi Architects designed the building.

July 6, 2012

FLOW SMART ACQUIRES 60,000 SF DELAWARE BUILDING

by admin July 6, 2012

SEAFORD, DEL. — Flow Smart, a polymer product company, has purchased 213 Nesbit Drive in Seaford for $1.7 million. The 60,000-square-foot industrial building was formerly occupied by Century Window Fashions before slipping into foreclosure in late 2011. Rodney Joyner and Tom Knopp of Sperry Van Ness — Miller Commercial Real Estate represented the seller, WSFS Bank, in the transaction. Rob Harman, also of Sperry Van Ness, represented the buyer.

July 6, 2012

Multifamily Northeast

OCTAGON PAYS $6M FOR BROOKLINE APARTMENT PROPERTY

by admin July 6, 2012

BROOKLINE, MASS. — Octagon Property Management has paid $6 million to buy 50-54 Kent St., a 15-unit apartment property in Brookline. The property is comprised of two apartment buildings on a 22,000-square-foot lot. Both buildings are fully occupied. Carl Christie, Dan McGee and Henry Lieber of NAI Hunneman represented the seller, 50-54 Kent Street LLC, in the transaction. They also procured the buyer.

July 6, 2012

Multifamily Northeast

DISTRESSED APARTMENT PROPERTY IN TEANECK SELLS FOR $1.4M

by admin July 6, 2012

TEANECK, N.J. — Gebroe-Hammer Associates arranged the sale of a distressed apartment building, located at 63 Washington Place in Teaneck, for $1.4 million. Constructed in 1940, the 16-unit building includes a mix of one-, two- and three-bedroom units. The buyer and seller are two, long-time Gebroe-Hammer clients. Greg Pine of Gebroe-Hammer represented both parties in the transaction. The new owner plans to renovate the property.

July 6, 2012

Northeast Office

ACCOUNTING FIRM TO OCCUPY ONE-THIRD OF METROTOP PLAZA II

by admin July 5, 2012

WOODBRIDGE, N.J. — Eisner Amper, an accounting and tax firm, has signed a lease for 87,000 square feet of office space at MetroTop Plaza II in Woodbridge. The company plans to consolidate staff from several New Jersey offices into the 255,000-square-foot building. The lease term is more than 15 years. Paul Giannone, Kevin Carton and Eric Sobel of Cushman & Wakefield represented the owner, Atlantic Realty & Development Corp., in the transaction. David Simson and Mark Weiss of Newmark Grubb Knight Frank represented the tenant.

July 5, 2012

Northeast Retail

INLAND BUYS WALGREENS PORFOLIO FOR $68.7M

by admin July 5, 2012

OAK BROOK, ILL. — Inland Real Estate Acquisitions has acquired a portfolio of nine Walgreens stores in the Northeast for $68.7 million. The purchase includes three stores in New Jersey, two in Connecticut, two in Massachusetts and two in New Hampshire. Each property is leased to a subsidiary of Walgreens Co. under a triple net lease, with a remaining lease term of more than 20 years.

July 5, 2012

Northeast Office

SPECTRO RELOCATES MASSACHUSETTS HEADQUARTERS

by admin July 5, 2012

CHELMSFORD, MASS. — Spectro Inc. has signed a six-year lease for 27,911 square feet of office space at 1 Executive Drive in Chelmsford. Spectro supplies oil and fuel analysis instruments to industry and military markets. The company will relocate from its current headquarters in Littleton, Mass., this summer. Stephen James and David Gilkie of NAI Hunneman represented the tenant in the transaction. Matt Adams of Cushman & Wakefield represented the landlord, RREEF.

July 5, 2012

Northeast Office

SKANSKA TO BUILD $66.5M OFFICE BUILDING

by admin July 3, 2012

CAMBRIDGE, MASS. — EF Education First has selected Skanska as the design-build contractor for its $65 million, 285,243-square-foot new headquarters in Cambridge. The 11-story office building will include a supplementary ground floor, mezzanine space and three levels of above-ground parking. Completion is slated for February 2014.

July 3, 2012

Industrial Northeast

NYC WAREHOUSE SELLS FOR $65M

by admin July 3, 2012

NEW YORK CITY — A 58,500-square-foot former warehouse, located at 71 Laight St. in Manhattan's Tribeca neighborhood, has sold to Taconic Investment Partners for $65 million. The building will be repositioned into a 34-unit, loft-style condominium building. Inbal Himelblau and Alan Miller of Eastern Consolidated represented the seller, a Spanish partnership former by developer Grupo Arranz Acinas, industrial company Grupo Antolin and savings bank Caja de Burgos. Peter Hauspurg, also of Eastern Consolidated, represented the buyer.

July 3, 2012

Northeast Office

NEW BOSTON FUND SELLS MASS. OFFICE BUILDING

by admin July 3, 2012

CAMBRIDGE, MASS. — New Boston Fund has sold the 89,875-square-foot One Alewife Center, a Class A office building located in Cambridge, to Brookwood Financial Partners. Tenants include Basis Technology, Genstruct and Beacon Interactive System, ROI Solutions and CO3 Systems. Chris McMahon and Doug Adamian of Newmark Grubb Knight Frank's Boston office represented the buyer in the transaction. The seller was self-represented.

July 3, 2012

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