Northeast

FORMER SCHOOL BUILDING IN QUEENS TRADES FOR $6.8M

by admin September 14, 2012

NEW YORK CITY — Massey Knakal has negotiated the sale of an institutional building located at 199-12 112th Ave. in the St. Albans neighborhood of Queens for $6.8 million. The most recent tenant was the New Charter Academy school, although the seller was the Police Athletic League, which once occupied space there. The 52,300-square-foot property was vacant at the time of sale. Bob Knakal and Brian Sarath of Massey Knakal represented the buyer, New York City's School Construction Authority. The company plans to use the building for a school. Knakal and Sarath also represented the seller.

September 14, 2012

Northeast

MILLERSVILLE TO BEGIN $180M HOUSING REPLACEMENT INITIATIVE

by admin September 13, 2012

MILLERSVILLE, PA. — Work will begin in May 2013 on eight new residence halls for the Millersville University campus. The 600,000-square-foot, 2,000-bed project, located primarily on the university's south quad, will eventually replace each of the existing residence halls on campus. The project is expected to take approximately five years. In addition to the new residence halls, a new 350-space parking lot will be constructed across from South Quad. The first two buildings are scheduled for completion in August 2014. Student Services Inc. will own the buildings while the university will manage them. The $180 million public/private partnership will be paid for with private bonds. Ambling University Development Group is managing the project.

September 13, 2012

Northeast Office

CITIZEN'S DISABILITY RELOCATES HEADQUARTERS

by admin September 13, 2012

WALTHAM, MASS. — Citizen's Disability has signed a lease for 42,905 square feet at 1075 Main St. in Waltham. Citizen's Disability, a Social Security disability advocacy group, is relocating its headquarters from Marlboro, Mass. The building features a cafe, fitness center and covered parking. Stephen James and Dan Collins of NAI Hunneman represented the tenant in the transaction. Rob Walles of CBRE Group represented the landlord.

September 13, 2012

Northeast Office

BALLARD SPAHR RENEWS 179,307 SF LEASE AT BNY MELLON CENTER

by admin September 13, 2012

PHILADELPHIA — Ballard Spahr, a national law firm, has signed a 15-year lease renewal for 179,307 square feet at BNY Mellon Center in Philadelphia. Wayne Fisher and Craig Scheuerle of Newmark Grubb Knight Frank represented the landlord, CommonWealth REIT, in the transaction. CBRE represented the tenant. The property is managed by Reit Management & Research LLC, Real Estate Services. The BNY Mellon Center was built in 1990. Firms such as BNY Mellon, FMC Corp. and Sunoco are headquartered in the building, which has maintained occupancy rates above 90 percent since its construction.

September 13, 2012

Industrial Northeast

TOKYO ELECTRON RENEWS, EXPANDS LEASE

by admin September 13, 2012

BILLERICA, MASS. — Tokyo Electron U.S. Holdings, a supplier of semiconductor production equipment, has renewed and expanded its lease by 52,683 square feet at 900 Middlesex Turnpike, Building 6 in Billerica. The company now occupies 91,649 square feet at the property. Michael Dalton of Cassidy Turley represented the tenant in the transaction. The landlord, Gutierrez Co., was self-represented.

September 13, 2012

Northeast Retail

RUE 21 TO OPEN MORE THAN 12 STORES IN LONG ISLAND

by admin September 13, 2012

PITTSBURGH — Rue 21, the teen apparel retailer, has hired Sabre Real Estate Group as its exclusive broker for Long Island. The Pittsburgh-based company, which operates two stores in Nassau and Suffolk counties, announced plans to open more than 12 stores in the region. Officials of Rue 21, which has 800 stores in 46 states, is also opening 120 stores nationwide this year. The chain is seeking well-located spaces ranging from 4,000 to 5,000 square feet.

September 13, 2012

Northeast Retail

ZAR ACQUIRES SOHO RETAIL CONDO FOR $39M

by admin September 12, 2012

NEW YORK CITY — Zar Properties has purchased a 35,000-square-foot retail condominium building in Soho for $39 million. The property is located at 105-113 Wooster St. and the current tenant, Room & Board, has seven years remaining on its lease. The transaction also includes three residential loft apartments.

September 12, 2012

Northeast Office

PCCP PROVIDES $60M SENIOR LOAN FOR 600,000 SF OFFICE

by admin September 12, 2012

RUTHERFORD, N.J. — PCCP has provided a $60 million senior loan to refinance Meadows Office Complex, a 600,471-square-foot office property in Rutherford. A joint venture between Onyx Equities and SL Green Realty Corp. owns the two-building property. The complex is 79 percent leased to 60 tenants, the largest of which is Malo, a wellness and dental clinic. The property includes structured parking, a cafeteria and full daycare services.

September 12, 2012

Multifamily Northeast

AMERICAN REALTY BUYS 163 WASHINGTON FOR $31.5M

by admin September 12, 2012

NEW YORK CITY — American Realty Capital New York Recovery REIT has closed on its purchase of 50 rental units and a 36-space parking facility at 163 Washington in Brooklyn. The building, developed by GLC Group, traded for $31.5 million. The acquisition of the multifamily building expands the company's portfolio to 12 properties throughout New York City. The units are 80 percent leased and monthly rents at the property average $3,000 per unit.

September 12, 2012

Northeast Office

PRS MOVES GLOBAL HEADQUARTERS TO TEANECK

by admin September 12, 2012

TEANECK, N.J. — Perception Research Services International (PRS) has signed a lease for 44,000 square feet at Glenpointe Centre in Teaneck. The privately held company is relocating its headquarters to the Class A office complex from Fort Lee, N.J. PRS conducts more than 800 packaging and research studies annually on behalf of global marketers such as Kraft Foods. Curtis Foster of Cushman & Wakefield represented the tenant in the transaction. Richard Baumstein, Marc Graham and Christian Politan of Cushman & Wakefield represented the property owner, Alfred Sanzari Enterprises.

September 12, 2012

Newer Posts

Older Posts