CLINTON, MASS. — Radant Technologies has signed a lease for 58,852 square feet of industrial space at 100 Adams Road in Clinton. The company designs, builds and tests equipment for the defense industry. David and James Stubblebine and Alan Ringuette of The Stubblebine Company/CORFAC International Inc. represented the tenant in the transaction. The 344,000-square-foot facility is located off I-495, about 35 miles from Boston. The property is part of the National Industrial Portfolio, a joint venture by Hackman Capital, Calare Properties and KBS Real Estate Investment Trust.
WALTHAM, MASS. — HFF has arranged $80 million for the refinancing of three inter-connected suburban office buildings totaling 458,166 square feet in Waltham. The properties are located at 920, 930 and 940 Winter St. in the Reservoir Woods West Campus. Renovated in 2006, the buildings are fully leased to six tenants including Fresenius Medical Care and PerkinElmer. Riaz Cassum, Lauren O'Neil and Robyn King of HFF led the team that represented the borrower, an affiliate of Davis Marcus Partners. The team arranged the seven-year, fixed-rate loan through MetLife Real Estate Investments.
NEW YORK CITY — Lexington Realty Trust is acquiring Inland American (Net Lease) Sub LLC's interest in Net Lease Strategic Assets Fund (NLS), a joint venture between New York City-based Lexington and Inland. The transaction is valued at $480 million. The joint venture was intially formed in 2007 and the current deal will expand Lexington's asset base and consolidate the company's ownership of the portfolio. The portfolio is 98.7 percent leased and includes 26 office properties, 13 industrial properties and two specialty properties in 23 states. Tenants include Northrop Grumman and Honeywell. Inland previously held an 85 percent common equity interest in NLS, while Lexington held a 15 percent common equity interest and a 100 percent preferred equity interest.
NEW YORK CITY — Marcus & Millichap has arranged the $7.8 million sale of 440-450 Audubon, a 71-unit apartment building in New York City. The property is 66,240 square feet. Peter Von Der Ahe, Scott Edelstein and Seth Glasser of Marcus & Millichap represented the seller, a limited liability company based in California, in the transaction. They also represented the buyer, a local investor with international partners.
SIMSBURY, CONN. — EagleBridge Capital has arranged $10.8 million in mortgage financing for the first phase of Dorset Crossing in Simbsbury. Dorset Crossing is a mixed-use development on Route 10. Phase I will include two, 15,000-square-foot medical office buildings. Additional buildings in this phase include a 20,000-square-foot medical office building, a 14,000-square-foot retail building and a 3,500-square-foot retail property. Up to 275 apartment units and three additional sites for general commercial use are planned for Phase II. Saint Francis Hospital and Medical Center of Hartford has leased 10,000 square feet in the first building. Ted Sidel and Brian Sheehan of EagleBridge arranged the loan through a financial institution.
ALLENTOWN, PA. — Yorie Tile & Terrazzo has acquired a 13,000-square-foot industrial building on Schantz Road in Allentown for $1 million. Michael Adams of NAI Summit represented both parties in the transaction. The seller was D&D Property Management. The buyer plans to manufacture terrazzo and tile for the commercial building industry.
NEW YORK CITY — Waterbridge Capital has acquired 37 W. 19th St., a seven-story loft building with ground-floor retail in Manhattan for $10.2 million. The building contains six full-floor units atop a retail center. Brian Hosey of Marcus & Millichap represented the seller, a private investor in the transaction. Michael Federman and Peter Mannarino of Federman Steifman were the seller's attorneys. Hosey also represented the buyer.
BOSTON — Suffolk Construction has been selected to manage the construction of One Channel Center in Boston's Innovation District. A joint venture between AREA Property Partners and Commonwealth Ventures is developing the $125 million project. Crews will construct a 525,000-square-foot, 11-story office building and a 10-level parking garage. When complete, State Street Corp. will occupy the building. The scope of the project will also include the creation of two open-space areas: the 72,000-square-foot New Park and the 9,000-square-foot Iron State Park. The Suffolk project team will also manage streetscape improvements such as new sidewalks, trees and lighting. Suffolk is partnering with architecture firm ADD Inc. for the office portion of the project and architect Spalding Tougias Architects for the parking garage. Construction is scheduled for completion in 2014.
SOUTH PLAINFIELD, N.J. — WP Realty and Angelo, Gordon & Co. have acquired Oak Park Commons, a one-story, 136,939-square-foot community shopping center in South Plainfield. The center is located in Middlesex County, approximately 22 miles southwest of Manhattan. A 60,025-square-foot A&P Supermarket anchors the property. Oak Park Commons is 76 percent occupied, with 33,508 square feet of available space. The center includes a mix of national, regional and local tenants.
STAMFORD, CONN. — Tweedy, Browne Co., an investment advisory firm, will relocate its headquarters from Park Avenue in Manhattan to the Metro Center building, adjacent to the Stamford Transportation Center. The company signed a 10-year lease for 24,421 square feet of office space. Malkin Construction is building out the space and the firm is expected to relocate in early 2013. Brian Goldman and Daniel Hassett of Newmark Grubb Knight Frank represented the tenant in the transaction. The landlord, Malkin Properties, was self-represented by Jeffrey Newman, Kimberly Zaccagnino and Tara Long.