UPPER MACUNGIE TOWNSHIP, PA. —SunOpta Food Inc. has signed a long-term lease for 101,250 square feet of industrial space at 7108 Daniels Dr. in Upper Macungie Township. The company plans to use the facility to produce a range of organic fruit-based consumer packaged products. Stephen Bonge and Timothy Brogan of Grubb & Ellis represented the landlord, J.G. Petrucci Co., in the transaction. Michael Treacy and Joshua Levin of Binswanger represented SunOpta.
NEW YORK CITY — Oracle Corp. has signed an 11-year lease at 120 Park Ave. in New York City. The business hardware software firm will occupy 60,000 square feet at the Class A, 643,000-square-foot office building. Paul Glickman and Diana Biasotti of Jones Lang LaSalle represented the landlord, 120 Park Avenue Associates, in the transaction. Marcus Rayner and Jane Roundell of CresaPartners represented the tenant in the deal.
NEWMARKET, N.H. — Hagan Design and Machine Inc. has leased 24,000 square feet of industrial space at 2 Forbes Rd. in Newmarket. David Choate of the Portsmouth office of Grubb & Ellis represented the tenant in the transaction. Brandt Atkins of New Hampshire Real Estate represented the landlord, NIP-Lot 6 LLC. Hagan is a full-service electrical discharge machining service center.
NEW YORK CITY — East Harlem-based Lettire Construction Corp. has finished construction on The Ciena and Hobbs Court, two affordable rental complexes that total 339 units, in East Harlem.The Ciena, located at 314 E. 100th St., is a rehabilitation of five existing buildings. Hobbs Court consists of two new, nine-story buildings located at 315 E. 102nd St. The project team included Lettire Construction, Phipps Houses, Urban Builders Collaborative and MGH Architects. The Ciena and Hobbs Court were the first developments in the U.S. to receive $25 million in Tax Credit Assistance Program funds.
NEW YORK CITY — Regus has leased two floors totaling 52,274 square feet of office space at 112 W. 34th St. in New York City. Regus, which provides virtual offices and videoconferencing to clients on a contract basis, is relocating from 11 Penn Plaza. Mark Ravesloot and William Iacovelli of CBRE represpented Regus in the transaction. Mitchell Arkin, Kelli Mekles and Haley Klein of Cushman & Wakefield represented the landlord, W&H Properties.
KING OF PRUSSIA, PA. — An affiliate of Endurance Real Estate Group has acquired Drew Court, located at 420 and 440-488 Drew Court in King of Prussia, for $9.2 million. The property includes two warehouse buildings totaling 149,906 square feet, which are fully leased. Michael Hines, Robert Fahey and Michael Blunt of CBRE's Philadelphia office represented the seller, Ajax Drew Court Investors, in the transaction. The buyer represented itself.
ROCHESTER, N.Y. — Thomas Grzebinski of The Rose Hill Group has arranged $6.5 million in first mortgage financing for a 60-unit town house project in Rochester. The property includes a mix of two- and three-bedroom units, all with attached garages. A regional lender provided the financing on a 10-year term and 25-year amortization schedule.
HOBOKEN, N.J. — Love Funding has closed a $20.9 million loan to refinance Clock Tower Apartments, a 173-unit apartment community in Hoboken. Laura Saull-Smith of Love Funding's Washington, D.C. office secured the financing through a U.S. Department of Housing and Urban Development loan program. The program will enable the borrower, Jefferson Adams Rehab Co., to preserve rent-subsidized units at the property and fund more than $2 million in repairs and reserves.
STROUDSBURG, PA. — Michael Baxter & Associates Commercial Real Estate and Property Management has closed the $675,000 sale of Lock-Tyte Storage, located on Route 209 in Stroudsburg, Pa. Lock-Tyte includes 130 units with 39,000 square feet of space for residential and commercial storage. Michael Baxter of Michael Baxter & Associates secured the buyer, a private investor. Baxter and Daniel Perich represented the seller.
NEW YORK CITY — New York-based SL Green Realty Corp. has acquired all of the interests in 51 E. 42nd St., a Midtown Manhattan office building. The 18-story, 142,000-square-foot building is 94 percent occupied. SL Green acquired the interest for a reported $18 million. SL Green now owns all of the buildings on the block bounded by Madison and Vanderbilt avenues between East 42nd and East 43rd streets. The other buildings include 317 Madison Ave., acquired in 2001, and 331 Madison Ave. and 48 E. 43rd St., both of which were acquired in 2007.