SPRINGFIELD, N.J. — Ring Container Technologies, a plastic container maker, has signed a 64,338-square-foot lease at 50-52 Fadem Rd. in Springfield. The company plans to use the space to manufacture containers for the food industry. Barry Cohorsky of NAI Hanson's Hackensack, N.J. office represented the tenant in the transaction. Douglas Bansbach of Cassidy Turley represented the landlord, Bristol Group.
STORRS, CONN. — Lutz Real Estate Investments and Harrison Street Real Estate Capital have purchased two student housing properties near the University of Connecticut. The joint venture marks Lutz's entry into collegiate housing. Carriage House contains 65 units, while Cedar Ridge contains 100 units. CW Capital in Needham, Mass., provided a Freddie Mac CME loan to acquire both properties. Aspen Square of West Springfield, Mass. was the seller. Grant Ancevic of Student Housing Investments represented the buyer. Campus Apartments will lease and manage the two properties.
BOSTON — 491 Huntington Realty Trust has purchased a 24-unit apartment building in Boston's Hyde Park neighborhood for $2.7 million. The 22,320-square-foot property is fully occupied and located at 491-495 Huntington Ave. Robert Tito and Dan McGree of NAI Hunneman represented the seller, Kingsley Brightwood LLC, in the transaction. They also procured the buyer.
NEW CASTLE COUNTY, DEL. — King of Prussia, Pa.-based Bolis Properties has agreed to sell the 220-unit Colony at Glasgow project to an undisclosed builder. The Colony at Glasgow is a mixed-use residential development in New Castle County. The community will include a mix of single-family lots and townhomes. Bolis has also agreed to sell its Appleview Apartment project to an undisclosed buyer. The 200-unit project will include a clubhouse and walking trails in East Brandywine Township, Pa.
PHILADELPHIA — Bottom Dollar Food has opened its 4th Philadelphia store at 7900 Roosevelt Blvd. The 19,600-square-foot store is located in the former Ilona Keller's Dugan Banquet Hall, which was built in the early 1960s. Soloff Realty & Development Inc. developed the property. Matthew Shanahan of Colliers International represented the landlord and Frameco Real Estate represented the tenant. Based in Salisbury, N.C., Bottom Dollar operates 1,650 grocery stores in 16 states.
AMHERST, MASS. — Love Funding has arranged a 6.5 million loan for the refinancing of Brandywine at Amherst Apartments, a 180-unit complex in Amherst. Laura Saull-Smith of Love Funding's Washington office arranged the loan through the U.S. Department of Housing and Urban Development's 223(a)(7) loan program. The complex was built in 1973 and has been refinanced by Love Funding twice before to secure a lower interest rate.
BOSTON — Boston-based KeyBank Real Estate Capital has arranged $114 million in HUD funding for the refinancing of 13 seniors housing communities in Connecticut and Rhode Island. The borrower is Athena Health Care Systems, one of the largest managers of skilled nursing facilities. The fixed-rate loan has a 30-year amortization schedule.
HINGHAM, MASS. — Sheskey Architects has been selected to design Hingham Technology Park 3, a new office development to be built on a 9-acre parcel in Hingham, suburb to the southeast of Boston. The concept calls for the construction of two LEED certified office buildings with parking garages and ground-level parking. The design also requires the razing of the existing 61,000-square-foot building, located on the site. For many years, the building was home to the South Shore Educational Collaborative. The project will mark the second time in a decade that a new major office development project is being planned for Hingham.
BOSTON — ARC/Architectural Resources Cambridge was selected by Dana-Farber Cancer Institute to design a new cancer research facility at the Longwood Center in Boston. The facility will be housed in approximately 154,000 square feet of space on five floors. Work on the project is expected to begin in 2012, with move-ins to begin at the end of 2014. Bryan Thorp of ARC will serve as the project manager.
EAST MANCHESTER TOWNSHIP, PA. — L'Oreal USA has signed a 12-year lease for 193,000 square feet at 75 Steamboat Blvd. in East Manchester Township. The building was previously used as a material handling facility for Harley Davidson Motor Co. L'Oreal will use the industrial facility for its Salon Centric division, with overnight deliveries to retail locations throughout the Northeast. The facility is scheduled to be fully operational by this fall. L'Oreal plans to expand the building by 92,500 square feet and R.S. Mowery & Sons is serving as construction manager for the building improvements. Ed Dudzinski and Richard Greenberg of Atlantic Real Estate Services represented the tenant in the transaction. Pat McBride and Gerry Blinebury of Cushman & Wakefield represented the landlord, Panattoni Development Co.
