PITTSBURGH — Healthcare Trust of America Inc., a REIT, recently purchased Penn Avenue Place, an office building in Pittsburgh's central business district, for $54 million. Built in 1907, the 558,000-square-foot building was renovated in 1997 and is 99 percent leased. The property is located at 501 Penn Ave. Mark Popovich led the HFF team that represented the seller, an affiliate of Oxford Development Co., in the transaction.
NEW YORK CITY — Investment Technology Group (ITG) has signed a new lease for 132,000 square feet at One Liberty Plaza in New York City. ITG is an independent research broker for global portfolio managers and traders. Under the 15-year lease agreement, ITG will occupy three floors of the property. The building is now 98 percent leased. Neil Goldmacher, Brian Goldman, Josh Friedman, John Hennessey and Merrill Roth of Newmark Knight Frank represented ITG in the transaction. Brookfield Office Properties, the landlord, was represented in-house by Duncan McCuaig and Sarah Pontius.
NEW YORK CITY — ICS Builders and BKSK Architects have completed the new, $4.1 million Community of the Holy Spirit (CHS) St. Hilda's House convent building in Manhattan. ICS served CHS, a monastic community for women in the Episcopal Church, as general contractor. The 10,600-square-foot building includes a lobby, chapel, community dining room and an art room. The project team also included structural engineer Weidlinger Associates and lighting designer Horton Lees Brogden Lighting Design. The building is located at 454 Convent Ave.
COLONIE, N.Y. — Walker & Dunlop has arranged $36 million in financing for an apartment community in Colonie. Fannie Mae provided the 10-year loan, which includes a 30-year amortization schedule. The complex is situated on 58 acres and includes a swimming pool, clubhouse and fitness center. Daniel Monte of the Rose Hill Group originated the loan.
NEW YORK CITY — A partnership between Cayuga Capital Management and Jacob Toll has received a $28.4 million acquisition and construction loan. The partnership is developing a mixed-used project on a 100,000-square-foot property, located at 76 N. 4th St. in Brooklyn. The new owners plan to convert the former steel factory into 83 loft-style apartments and 20,000 square feet of retail space. Aaron Appel and Micheal Diaz of Meridian Capital Group's New York City headquarters arranged the three-year loan through a regional balance sheet lender.
PARSIPPANY, N.J. — Cole Real Estate Investments has acquired a 176,000-square-foot office property in Parsippany for $53 million. The building is located at 8 Sylvan Parkway and serves as the global headquarters for the Medicines Cos. The pharmaceutical firm has 12 years remaining on its lease. Cole was represented in-house by Robert Corry. Kevin Welsh of CBRE's Saddle Brook, N.J. office represented the seller, The Hampshire Cos.
WASHINGTON COUNTY, PA. — Mylan Inc. plans to build a new 280,000-square-foot headquarters at Southpointe II in Washington County, Pa. The five-story office building will be located on Town Center Boulevard near its current headquarters. The building is expected to be completed in 2013. Mylan, a pharmaceutical company, has doubled its number of employees in the last five years and will use the new space to expand operations.
STOUGHTON, MASS. — Legacy Hawes has acquired 70 Hawes Way, two separate office and industrial buildings in Stoughton, for $2.8 million. The fully leased properties total 25,254 square feet. Scott Jamieson, Michael Smith, Brandon Dickason and Courtney O'Neal of Jones Lang LaSalle's Boston office represented the buyer, an entity controlled by Legacy Real Estate Ventures, in the transaction. South Shore Development Trust was the seller. Eastport Real Estate Services will manage the property.
NEW YORK CITY — The Archdiocese of New York has sold a development site at 337 E. 62nd St. in Manhattan for $7 million. The site consists of a three-story, vacant building and an adjacent vacant lot totaling approximately 27,314 buildable square feet. Robert Knakal of Massey Knakal represented the seller in the transaction. George Tule of Landmark represented the buyer.
NEW YORK CITY — A mixed-use property at 304 Bleecker St. has sold for $5.7 million in the Greenwich Village area of New York City. John Stewart of Marcus & Millichap's Manhattan office represented the seller, a private investor. Shlomo Manne, also of the firm's Manhattan office, represented the buyer, a partnership.