UNION, N.J. — Atlantic Star Trucking Inc. has signed a long-term lease for 60,000 square feet of industrial space at 1835 Burnet Ave. in Union. The company, which specializes in importing and exporting, will use the site for warehouse and distribution purposes. Barry Cohorsky of NAI Hanson represented the owner, Miller Industrial Properties, in the deal. Jones Lang LaSalle's Iselin, N.J. office represented the tenant.
CAMBRIDGE — The Beal Cos. has selected Roundhill Construction to create two separate office and lab space build-outs at One Kendall Square in Cambridge. Roundhill will create 10,000 square feet of laboratory and office space for GnuBIO, a privately held company that develops gene sequencing technology for clinical applications. Roundhill will also fit out 4,500 square feet of office space for Crashlytics, a start-up company that creates debugging and crash reporting software for mobile computer device applications. Owned by The Beal Cos., One Kendall Square is a 770,000-square-foot, mixed-use property.
NEW BRUNSWICK, N.J. — Beech Street Capital has arranged a $32 million Freddie Mac loan to refinance Raritan Crossing Apartments, a 376-unit apartment complex in New Brunswick. The property is currently 99 percent occupied. Avi Weinstock and Josh Rhine of Meridian Capital Group originated the fixed-rate loan on behalf of the borrower, a real estate owner and operator. The 7-year loan has a 30-year amortization schedule.
NEW YORK CITY — Johnson Capital and Andrew Glass Brokerage have jointly arranged $13 million in financing for the 99-room Best Western Plus Prospect Park Hotel in Brooklyn. The 11-story, limited-service hotel is located at 764 4th Ave. It was developed by a Brooklyn-based developer on a site that once housed a gas station. A CMBS lender provided the 10-year loan, which will be used to refinance a construction loan.
CRANBURY, N.J. — Hardware manufacturer Howard Berger Co. Inc. has signed a 60,000-square-foot lease expansion at 324 Half Acre Rd. in Cranbury, bringing its headquarters to 297,000 square feet. Stang Danzig and Jules Nissim of Cushman & Wakefield's East Rutherford, N.J. office represented the owner, US Industrial REIT II, in the deal. CBRE represented the tenant.
DEVENS, MASS. — In a joint venture, Hackman Capital and Calare Properties have acquired the former Evergreen Solar Plant at 112 Barnum Rd. in Devens, for an undisclosed amount. The 448,000-square-foot manufacturing facility is situated on 25 acres. Evergreen Solar constructed the facility in 2010.
ALLENDALE, N.J. — In a joint venture, Loeb Partners Realty and Red Pine Capital Partners have purchased 75 Commerce Dr., an industrial facility in Allendale for $15.85 million. The 114,206-square-foot flex property includes 90,22 square feet of office and lab space and 23,984 square feet of warehouse space. At the time of sale, the property was leased to two tenants: Aptuit, a pharmaceutical company; and Energizer Holdings' Playtex Division, a personal care products company. Andrew Merin, David Bernhaut, Gary Gabriel, Jared Zimmel, Frank Caccavo, Jason Goldman, Marc Petrella and Andrew Siemsen of Cushman & Wakefield represented the seller in the transaction.
NEW YORK CITY — An out-of-state developer has purchased a development site at 301 E. 61st St. in Manhattan's Upper East Side for $15.4 million. The area of the lot is approximately 3,781 square feet and a five-story apartment building is currently situated on the site. The property allows for 45,812 buildable square feet. Louise Beit of Sotheby's International represented the buyer in the deal. Bob Knakal and Clint Olsen of Massey Knakal Realty Services represented the seller.
YONKERS, N.Y. — Lord & Taylor has opened a new store in Westchester's Ridge Hill in Yonkers. The 80,000-square-foot store is the company's 11th store in the state of New York. The two-story location offers men's and women's clothes, jewelry, makeup and more. Ridge Hill is owned and operated by Forest City Ratner Cos.
NEW YORK CITY — Daniel Hlipert of Mortgage Equicap has arranged a $6.2 million bridge loan for the acquisition of a development site in Soho. The borrower, a foreign developer, plans to develop retail and luxury condominiums on the site. The property currently contains a vacant, two-story structure.
