BRIDGEWATER, N.J. — Health care company Allergen Inc. has inked a 93,000-square-foot lease at Somerset Corporate Center II in Bridgewater. The 250,000-square-foot building is in close proximity to Newark International Airport and New York City. Additional tenants include Juniper Networks and Aon Consulting. Kurt Burdack, Carolyn Sica and Chip Wright of CBRE represented Allergen in the transaction. SPJ was represented in-house.
NEW YORK CITY — Marcus & Millichap Capital Corp. has arranged a $7.3 million loan to refinance a 52-unit affordable housing project in Brooklyn. The mid-rise apartment building was built in 1998. Anita Pins and Gerald Kray of the firm's Manhattan office arranged the 10-year loan, which has a 30-year amortization schedule. The 5-year fixed-rate loan carries a 3.3 percent interest rate.
WESTBOROUGH, MASS. — Columbia Gas, an energy services company serving nearly 300,000 natural gas customers in Massachusetts, has signed a lease for 25,837-square-foot lease at 4 Technology Dr. in Westborough. The company will relocate from 300 Fridberg Pky. this July. John Carroll III, William Lynch, Timothy O'Brien and Wayne Spiegel of Colliers International represented the landlord, 4 & 8 Technology Drive, in the transaction. CBRE Group represented Columbia Gas.
LAKE SUCCESS, N.Y. — Hain Celestial, a natural and organic food group, plans to expand its corporate headquarters in New York. The company leased 86,000 square feet in Lake Success and plans to invest $10 million in relocating and expanding its main office. Hain's move from Melville, N.Y. is supported by an incentive package from Empire State Development that provides $4.5 million in tax credits. The company will relocate its existing 250 Long Island-based employees and create more than 100 new jobs during the next 10 years.
BROOKLYN — A 16-unit apartment building at 5122 Snyder Ave. in Brooklyn has sold for $1.2 million to a private investor. Matthew Fotis and Shaun Riney of Marcus & Millichap represented the seller, a private investor, in the transaction. They also represented the buyer.
UNIONDALE, N.Y. — Developers BF Development and Basser-Kaufman have broken ground on a Walgreens drugstore at 585 Uniondale Ave. in Uniondale. The 13,000-square-foot store will include a drive-through window and will be situated on a 1.3-acre site. The store represents a departure from Walgreens' prototype, which is approximately 14,820 square feet. The project required developers to assemble five contiguous parcels owed by five separate owners in order to obtain the necessary acreage for the store. The developers have a triple-net lease with Walgreens for the site and the project is expected to be complete this winter.
NEW YORK CITY — Daniel Hilpert of Mortgage Equicap has arranged a $2.2 million ground-up construction loan for a condominium development in the East Village. Mortgage Equicap placed the loan with a conventional lender on behalf of the borrower, a foreign developer. The loan was structured with limited recourse.
NEW YORK CITY — A Century 21 store will be the anchor tenant for the second phase of Brooklyn's City Point, a 1.3 million-square-foot, mixed-use development in the center of downtown Brooklyn. The second phase includes two apartment buildings to be built atop a five-story retail podium. BFC Partners has been selected to develop Tower I, which will include 250 mixed-income rental units. The building will be financed through the NYC Housing Development Corp. and Mayor Bloomberg's New Housing Marketplace plan. The Brodsky Organization will develop Tower 2, which will contain 440 apartments. The second phase is expected to be complete in 2015. Acadia Realty Trust and Washington Square Partners are the master developers for the project.
AMHERST, N.Y. — Ellicott Development has started work on a new $28 million mixed-use development in Amherst. The 122,000-square-foot building will include a 120-room Wyndham Garden Hotel & Suites, 33 apartments and 3,500 square feet of ground-floor retail space. Trautman Associates Architects and Tedo Engineers of Buffalo, N.Y. designed the hotel. Concept Construction Corp. is the project's general contractor.
BOSTON — Synergy Investment & Development has purchased the parking garage below the Intercontinental Hotel & Residences in Boston for $15 million. HFF marketed the property as part of a court-mandated federal receivership and procured the buyer. HFF also arranged a $9.7 million, seven-year acquisition loan through Webster Bank on behalf of the buyer. The 376-space garage is part of a mixed-use development that was completed in 2006 and is located between Rose Fitzgerald Kennedy Greenway and the Fort Point Channel.
