WALTHAM, MASS. —The suburban leasing group of NAI Hunneman has negotiated a 13,360-square-foot office lease renewal and expansion for Waltham, Mass.-based RentGrow Inc. at 307 Waverly Oaks Rd. in Waltham. Jim Boudrot and Evan Gallagher of NAI Hunneman represented RentGrow, a tenant screening company, in the transaction. Duffy Properties, the landlord, was self-represented.
Northeast
NEWARK, N.J. — Damascus Bakeries, a commercial baking company, is relocating its Brooklyn operations to 60 McClellan St. in Newark, N.J. The 117,419-square-foot industrial building was purchased for $3.5 million and is scheduled to open in early 2012. Damascus plans to invest about $1.2 million in site improvements and upgrades.
QUEENS, N.Y. — A 9,767-square-foot retail property, located at 163-30 Cross Bay Blvd. in Queens, has been sold for $14 million. American Realty Capital New York Recovery REIT purchased the property, which is fully leased to Duane Reade.
EAST FISHKILL, N.Y. — Colliers International has arranged the $4.5 million sale of a 1 million-square-foot office complex in East Fishkill, N.Y. The property consists of five buildings. Gerard Hallock and Stephen Westerberg of Colliers International's Stamford, Ct. office, along with Prudential Serls Prime Properties Commercial Group, represented the undisclosed seller. The buyer was China-based Linuo Power Group.
NORTHVALE, N.J. — Weichert Commercial Brokerage Inc. has completed the sale of an 80,000-square-foot industrial warehouse building, located at 108 Fairway Ct. in Northvale, N.J., for $6 million. Sang Oak Ra of Weichert represented the buyer, Pointe International, in the transaction. Jim Tully of CBRE represented the seller.
BOSTON — General Growth Properties has sold the Faneuil Hall Marketplace, located at 4 S. Market Building, Fifth Floor in Boston, for $140 million. The 208,000-square-foot retail development includes 104 staple restaurants, shops, exhibits and cafes.
NEW YORK CITY — White Plains, N.Y.-based Q10 New York, an affiliate of Houlihan Parnes Realtors, has arranged $50 million in first mortgage financing for the 250,000-square-foot Two Fordham Square, a mixed-use property located at 2501 Grand Concourse in the Bronx neighborhood of New York City. Jeanne Cronin, Mike O'Neill, Jerry Houlihan and Kelly Houlihan of Houlihan Parnes and Q10NY arranged the loan with a 7-year term and a 30-year amortization schedule through a major New York bank on behalf of the borrower, a partnership between partners of Houlihan Parnes Realtors and members of the Jemal family.
WEST ORANGE, N.J. — Cedar Knolls, N.J.-based Newmark Associates Commercial Real Estate Brokerage facilitated the $10.4 million sale of the 38,000-square-foot 475 Prospect Ave., a medical office building in West Orange. The property is currently 60 percent leased to tenants such as the Essex Specialized Surgical Institute, Omni Eyecare and Reproductive Medical Associates of New Jersey. Judith Tell Feldman of Newmark represented the seller, Prism Capital Partners, and the buyer in the transaction.
LANCASTER, PA. — Bird-In-Hand, Pa.-based B&B Structures has purchased a 29,000-square-foot industrial property, located at 2200 Hathaway Rd. in Lancaster, for $900,000. Gerry Blinebury and Leah Balerno of Cushman & Wakefield's Philadelphia office represented the seller, while Scott Bradbury of U.S. Commercial Realty represented the buyer.
BOSTON — General Growth Properties has sold the Faneuil Hall Marketplace, located at 4 S. Market Building, Fifth Floor in Boston, for $140 million. The 208,000-square-foot retail development includes 104 staple restaurants, shops, exhibits and cafes.