RYE, N.Y. — The Dorf Law Firm has signed a long-term lease for 15,832 square feet at 555 Theodore Fremd Ave. in Rye. The firm is expanding and relocating from its current location in Mamaroneck, N.Y. Christopher O' Callaghan of Cushman & Wakefield, Todd Albright of Princeton Realty Group and Mark Blandford of Diamond Properties represented Dorf in the transaction. New York and Boston-based Faros Properties represented the landlord.
MALDEN, MASS. — Commercial Street Venture has sold Plaza 188, a 71,462-square-foot, grocery-anchored center in Maiden for $15.5 million. David Ros, Trey Agnew, Doug Jacoby and Scott Dragos of NAI Hunneman's Boston office represented Commercial Street Venture in the transaction. They also procured the buyer, Plaza 188 Association.
ROCKAWAY, N.J. — Technology services provider Activu Corp. will relocate its headquarters from Denville, N.J. to the former Edy's Ice Cream distribution facility at 301 Roundhill Dr. in Rockaway. The company signed a 24,000-square-foot lease at the 50,000-square-foot flex facility. Ken Flynn of Jones Lang LaSalle represented Activu in the transaction. Robert Donnelly of Cushman & Wakefield's Morristown, N.J. office represented the landlord.
MADISON, N.J. — Realogy Corp., which owns real estate firms Coldwell Banker, Century 21 and Sotheby's International Realty, will relocate its corporate headquarters from Parsippany, N.J. to a Madison site about seven miles away. Realogy's current lease expires in 2013, and the company will move into a new 15-acre site at 175 Park Ave. in late 2012. Morristown-based Hampshire Cos. is developing an existing structure into a new 270,000-square-foot building. Construction is currently underway at the site. Global Client Solutions, a Realogy subsidiary, represented Realogy in the transaction. David Simson, Timothy Greiner, and Brendan McBride of Newmark Knight Frank represented Hampshire Cos.
SADDLE BROOK, N.J. — CBRE has completed a $5 million sale of a combination of four industrial and office properties in Totowa and Flanders, N.J. The portfolio consists of 141 and 171 Shepherds Lane in Totowa and 51 Old Ledgewood Rd. in Flanders, as well as an adjacent empty five-acre lot at 49 Old Ledgewood Rd. Verizon occupies the 33,600-square-foot building at 171 Shepherds Lane and the 7,715-square-foot building at Old Ledgewood Rd. The company, which just negotiated 10-year leases on the properties with CBRE, uses the facilities as industrial service centers. The 27,000-square-foot 141 Shepherds Lane office site is vacant. Charles Berger, Elli Klapper and Thomas Mallaney of CBRE's Saddle Brook office represented the owner in the transaction. Seth Pollack of the Private Capital Group procured the undisclosed buyer.
COVENTRY, R.I. — Washington Trust's Commercial Real Estate Group provided $1.85 million to Soscia Enterprises, for the refinancing and completion of renovations to Coventry Shoppers Park, a shopping plaza located at 22 Coventry Shoppers Park in Coventry, R.I. Cate Fusco of Washington Trust was the lead lender for the project.
AVON, CONN. — MFJ Properties has purchased a 20,600-square-foot medical office building, located at 40 Dale Rd. in Avon, for $1.6 million. Rob Montesi and Steve Inglese of New Have Group's New Haven office represented the seller, Phoenix Dale Road LLC, in the transaction. New Haven Group also procured the buyer.
BOSTON — Suffolk Construction has broken ground on Millennium Place III, a 390,000-square-foot residential tower in Boston's Downtown Crossing neighborhood. The $220 million project includes 256 units with one-, two- and three-bedroom apartments and 9,700 square feet of retail space on the ground floor. The developer is Millennium Partners, and Handel Architects of New York is the architect. The building is slated for completion in the fall of 2013.
WEST CHESTER, PA. — Beech Street Capital has provided a $32 million Fannie Mae loan for the refinancing of Goshen Terrace Apartments, a 384-unit property located in West Chester. Russ Dreb of Meridian Capital Group arranged the loan financed by Beech Street Capital as part of its correspondent relationship with Meridian. The 10-year loan has a 30-year amortization schedule.
NEW YORK CITY — GFI Realty Services Inc. has arranged the $7.3 million sale of 1280 E. 18th St. in Brooklyn. The 42,180-square-foot, six-story apartment building includes 47 apartments. Josh Orlander of GFI Realty represented both the buyer and the seller in the transaction. The buyer plans to make improvements to the building to attract young professionals in the area.
