BOSTON — Suffolk Construction has broken ground on The Victor, a 377,000-square-foot residential tower, located at 95 Havehill St. in Boston. The $92 million project will include 17,000 square feet of retail space, 286 new apartments and a parking garage. Simpson Housing LLP will manage the building upon completion. The architect is ADD Inc. Construction is scheduled to be completed in 2013.
NEW YORK — SL Green Corp. and its joint venture partner have agreed to sell One Court Square in Manhattan to a private investor group for an estimated $42 million. The transaction includes $315 million of existing debt, which will be assumed by the purchaser. The 1.4 million-square-foot office building is fully leased to Citibank. Eastdil Secured represented the sellers in the pending transaction.
CAMBRIDGE, MASS. — Intrepid Labs, a Cambridge-based startup specializing in alternative workspaces for venture-backed firms, has signed a 10,500-square-foot office lease at the American Twine Office Park, located at 222 Third St. in Cambridge. Tad Lee of Colliers International's Boston office represented the landlord, Transatlantic Investment Management Inc., in the transaction.
BURLINGTON, MASS. —Colliers International has arranged two office leases totaling 58,482 square feet at New England Executive Park in Burlington. Black Duck Software signed a lease for 29,323 square feet at 8 New England Executive Park. COMSOL Inc. renewed and expanded its lease to 27,159 square feet at One New England Executive Park. Matthew Daniels, John Carroll III and Andrew Whipple of Colliers represented the landlord, Equity Office, in the transaction. T3 Advisors represented Black Duck and COMSOL was represented by Colliers.
WOBURN, MASS. — The Stubblebine Co. has brokered the $2 million sale of 9 Micro Dr., a 28,970-square-foot industrial building in Woburn, Mass. David Stubblebine, James Stubblebine and Micah Stubblebine represented the buyer, Inscribe Inc. They also represented the seller, Wetmore Inc., in the transaction.
NEW YORK — Investcorp's real estate arm based in the U.S. has purchased mezzanine debt supported by the 20-story Paramount Hotel in New York City's Time Square. Investcorp bought two existing loans of the mezzanine with a principal balance of $40 million from Fillmore Capital Partners, which was the existing lender for the Paramount at the time of RFR's purchase of the hotel. Highgate Holdings, a national hotel manager, will continue to operate the Paramount on behalf of new ownership.
NORTHPORT, N.Y. — Stalco Construction has broken ground on a $1.8 million renovation of First Presbyterian Church of Northport, located at 330 Main St. in Northport, N.Y. In addition to renovation of the church's structure, crews will also construct a new, 9,000-square-foot community services and office center. Baldassano Architecture designed the renovations and Stalco is the construction manager for the project.
NEW LONDON, N.H. —CBRE's National Retail Investment Group has arranged the sale of New London Shopping Center, a 107,301-square-foot, supermarket-anchored shopping center in New London, N.H. for $15.7 million. Chris Angelone, Bill Moylan, Jim Koury, Nat Heald and Josh Klimkiewicz of CBRE's Boston office represented the seller, Kimco Realty Corp. in the transaction. They also procured the buyer, CrossPoint Associates.
BROOKLYN — GFI Realty Services Inc. has completed the $22 million sale of 3101 and 3115 Ave. in Brooklyn. The apartment buildings include a total of 154 units. GFI Realty Services brokered both sides of the transaction. Yanni Simantov represented the seller, Elias Mallouk Realty and Josh Orlander represented the buyer, the Parkoff Organization.
SHELTON, CONN. — Gexpro, an electrical product distributor, has signed a lease for 30,132 square feet at 1000 Bridgeport Ave. in Shelton. Kevin Foley and Torey Walsh of Cushman & Wakefield represented the building owner, 1000 Bridgeport Associates LLC, a joint venture of Abbey Road Advisors, Westport and The Praedium Group, in the transaction. Peter Buckey and Andy Arrick of Cassidy Turley represented the tenant.
