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.
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.
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.
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.
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.
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.
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.
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.
COLLEGEVILLE, PA. — The Dow Chemical Co. has agreed to move its Northeast USA Technology Center from Spring House, Pa. to Collegeville. The company plans to open a 750,000-square-foot research and development facility, located within the Pfizer Pharmaceutical campus on Acrola Road. Dow plans to relocate 800 employees, who will begin moving to the site as early as the first quarter of 2013.
NEW YORK CITY — Fairway Market has signed a lease for 42,000 square feet at Kips Bay Plaza, located at 542-580 Second Ave. in Manhattan. The grocery chain will occupy 2,000 square feet on the ground floor and 40,000 square feet in the basement. Fariway is replacing Office Depot and Crunch Gym within the plaza. Robert Futterman and Gary Alterman of RKF represented the tenant in the transaction. David Green of Cushman & Wakefield represented the landlord, DFD Development.