NEW YORK CITY — Johnson Capital and Andrew Glass Brokerage have jointly arranged $13 million in financing for the 99-room Best Western Plus Prospect Park Hotel in Brooklyn. The 11-story, limited-service hotel is located at 764 4th Ave. It was developed by a Brooklyn-based developer on a site that once housed a gas station. A CMBS lender provided the 10-year loan, which will be used to refinance a construction loan.
CRANBURY, N.J. — Hardware manufacturer Howard Berger Co. Inc. has signed a 60,000-square-foot lease expansion at 324 Half Acre Rd. in Cranbury, bringing its headquarters to 297,000 square feet. Stang Danzig and Jules Nissim of Cushman & Wakefield's East Rutherford, N.J. office represented the owner, US Industrial REIT II, in the deal. CBRE represented the tenant.
DEVENS, MASS. — In a joint venture, Hackman Capital and Calare Properties have acquired the former Evergreen Solar Plant at 112 Barnum Rd. in Devens, for an undisclosed amount. The 448,000-square-foot manufacturing facility is situated on 25 acres. Evergreen Solar constructed the facility in 2010.
ALLENDALE, N.J. — In a joint venture, Loeb Partners Realty and Red Pine Capital Partners have purchased 75 Commerce Dr., an industrial facility in Allendale for $15.85 million. The 114,206-square-foot flex property includes 90,22 square feet of office and lab space and 23,984 square feet of warehouse space. At the time of sale, the property was leased to two tenants: Aptuit, a pharmaceutical company; and Energizer Holdings' Playtex Division, a personal care products company. Andrew Merin, David Bernhaut, Gary Gabriel, Jared Zimmel, Frank Caccavo, Jason Goldman, Marc Petrella and Andrew Siemsen of Cushman & Wakefield represented the seller in the transaction.
NEW YORK CITY — An out-of-state developer has purchased a development site at 301 E. 61st St. in Manhattan's Upper East Side for $15.4 million. The area of the lot is approximately 3,781 square feet and a five-story apartment building is currently situated on the site. The property allows for 45,812 buildable square feet. Louise Beit of Sotheby's International represented the buyer in the deal. Bob Knakal and Clint Olsen of Massey Knakal Realty Services represented the seller.
YONKERS, N.Y. — Lord & Taylor has opened a new store in Westchester's Ridge Hill in Yonkers. The 80,000-square-foot store is the company's 11th store in the state of New York. The two-story location offers men's and women's clothes, jewelry, makeup and more. Ridge Hill is owned and operated by Forest City Ratner Cos.
NEW YORK CITY — Daniel Hlipert of Mortgage Equicap has arranged a $6.2 million bridge loan for the acquisition of a development site in Soho. The borrower, a foreign developer, plans to develop retail and luxury condominiums on the site. The property currently contains a vacant, two-story structure.
MORRISTOWN, N.J. — TM Forum has renewed and expanded its lease to 16,500 square feet at 240 Headquarters Plaza in Morristown. Sam Horowitz and Chris Hovanec of UGL Services' Iselin, N.J. office represented the tenant in the deal. Ben Brenner, Jon Williams and Robert Donnelly Jr. represented the owner, Olnick-Fisher Development Associates. TM is an international, non-profit association for service providers and their suppliers in the information, telecommunications and entertainment industries.
WESTFORD, MASS. — Red Hat has signed a build-to-suit development and lease extension at Westford Technology Park in Westford. The Gutierrez Co. will expand the software company's existing 75,000-square-foot building at 314 Littleton Rd. by an additional 100,000 square feet. The new addition will include four floors of office space. Construction is slated for completion in 2013. John Wilson, Brian McKenzie and James Lipscomb of Richards Berry Joyce & Partners represented the building owner, Gutierrez Co., in the deal. Jones Lang LaSalle represented the tenant.
MANCHESTER, N.H. —Linear Retail Properties has acquired a 9,870-square-foot shopping center at 926-952 South Willow St. in Manchester for $4.3 million. The center is fully leased to four tenants: Chipotle Mexican Grill, Mattress Giant, U.S. Cellular and Hannoush Jewelers. Rich Rostoff of Spectra Realty represented Linear Retail in the deal. Martin O'Boyle was the seller.
