PHILADELPHIA — Advanced Recycling Corporation of America (ARCA) has doubled the square footage of its headquarters at 4301 N. Delaware Ave. in Philadelphia. The company now occupies 95,000 square feet. Sidney Gable and Steven Gable of Sidney E. Gable Associates Inc. represented the owner, Delaware Ave., in the lease transaction. They also represented the tenant. ARCA will use the space for its Green Salvage Operation of refrigerators, washers and dryers.
Northeast
WYNDHAM, CONN. — Beech Street Capital has arranged a $5.4 million Freddie Mac loan for the refinancing of Wyndham Park Townhomes, a 104-unit townhome apartment complex in Wyndham. Brian Sykes of Beech Street's Boston office originated the loan for the borrower, Jeffrey Libert. The 10-year, fixed-rate loan has a 30-year amortization schedule.
MANCHESTER, CONN. — Outdoor retailer Eastern Mountain Sport has opened an 18,831-square-foot store in Manchester. The store is located next to PetSmart in the Plaza at Buckland Hills. The space is nearly three times the size of the former location in the same shopping complex. The store will feature a new section for kids, an expanded kayak department and a larger, full-service bike shop. A grand opening is scheduled April 27 to April 29.
NEW YORK CITY — Hidrock Realty has purchased a 6,160-square-foot development site at 133-135 Greenwich Street in Manhattan for $28 million. The site has approved design plans created by architect Costas Kondylis for the construction of a 150,000-square-foot mixed-use building. David Schechtman and Lipa Lieberman of the New York City office of Eastern Consolidated represented the buyer in the deal. Adelaide Polsinelli and Robert Khodadadian of the same office procured the buyer. Developer Sam Zell had previously bid on the site in 2010 after its Israeli owners filed for bankruptcy. They had paid $45 million at the height of the real estate boom and planned a 203-room hotel.
CAMBRIDGE, MASS. — Two apartment buildings in Cambridge have sold for $16 million. Located in Harvard Square, the 53-unit portfolio includes 48 JFK and 115 Mt. Auburn streets. The property at 115 Mt. Auburn St. is a 31-unit building, while 48 JFK St. is a 22-unit building with one retail suite. Boston Realty Advisors represented the seller, Benicon Moskow Trust. Ross Duncan of Hammond Residential procured the buyer.
ROCHESTER, N.H. — 41 Old Dover Rd. LLC has purchased a 16,650-square-foot industrial building in Rochester for $325,000. The building is located at 41 Old Dover Rd. and the new owners plan to construct an 18,700-square-foot addition to the existing building. David Choate of Grubb & Ellis/Northern New England's Portsmouth office represented the seller, the DiGovanni Family Trust, in the deal. He also procured the buyer.
NEW YORK CITY — A development site at 1002 Bushwick Ave. in Brooklyn's Bushwick neighborhood has sold for $1.3 million. The site includes an 8,810-square-foot building with an auditorium, common kitchen and a 5,000-square-foot parking lot. The building is currently used to host international volunteers for a local non-profit. The site offers approximately 26,740 buildable square feet. Michael Amirkhanian of Massey Knakal represented the buyer, a local developer, and the seller in the deal. The new owner plans to convert the building into apartments.
WHITEHALL, PA. — FL Smidth, an equipment and services provider for the cement and mineral industries, has signed a 15,575-square-foot lease at Riverside Business Center in Whitehall. The company will use the space to manufacture materials used in making turbine blades. John Crampsie of NAI Summit's Allentown, Pa. office represented the both the building owner and tenant in the deal.
BOSTON — Alan Gray Inc. has signed a 13,434-square-foot lease renewal at 88 Broad St. in Boston. Christian Gotfredson of NAI Hunneman represented the property owner, Bay State Realty in the deal. He also assisted the tenant. Located in Boston's Financial District, 88 Broad St. is a 63,829-square-foot office building. Alan Gray Inc. is an international insurance claims management and financial services firm.
BURLINGTON, MASS. — Sonesta International Hotels Corp. plans to convert a 141-room Staybridge Suite in Burlington to its new Sonesta ES Suites upscale extended-stay brand this June. Located 15 miles from Boston, the Sonesta ES Suites will include “oversized” suites, ranging from 400 to 750 square feet, and fully equipped kitchens and work areas. The hotel will also include a heated outdoor pool and 24-hour exercise room. The conversion marks the debut of the new brand.