PARSIPPANY, N.J. — Mack-Cali Realty Corp. has announced that it will develop a 203,000-square-foot, Class A office building for Wyndham Worldwide Corp. in Parsippany, which will allow Wyndham to consolidate its workforce. The site will be developed adjacent to Wyndham’s corporate headquarters at 22 Sylvan Way on the Mack-Cali Business Campus. The headquarters at 22 Sylvan received LEED-Silver certification. Wyndham has leased the new facility for 15 years. The facility will be three stories and feature granite and glass exteriors. The building is slated for a first quarter 2013 completion and occupancy is set to take place in third quarter 2013. HLW International is designing the core and shell portion of the new facility.
NEW YORK CITY — Marx Realty & Improvement Co., Inc. is set to break ground on the M&B (Manufacturers and Builders) Building on the corner of 57th Street and Third Avenue in midtown Manhattan in New York City. Joseph E. Marx Co., Inc. owns the property and plans to construct a 30,814-square-foot, four-story building of all glass showrooms and a fully rentable basement. CB Richard Ellis’ Sloane Rhulen, Susan Kurland and Gregory Tannor will market the building, which is scheduled for completion by late 2011 or early 2012.
WAKEFIELD, MASS. — Hobbs Brook Management has purchased 101, 201 and 500 Edgewater Dr. in Wakefield’s Edgewater Office Park. With the 313,300-square-foot acquisition, Hobbs Brook now owns all seven buildings in the office park. Buildings 101 and 201 are two stories and feature concrete facades, and building 500 is a four-story building with granite exterior walls. Charles Batchelder of Wyman Street Advisors represented Hobbs Brook, and Cushman & Wakefield’s David Pergola, Robert Griffin and Edward Maher represented the sellers.
NEW YORK CITY — TerraCRG has brokered the sale of a development site at 31 Lincoln Rd. and 510 Flatbrush Ave. in Brooklyn for $6.5 million. The site, originally slated for a 32-story glass condominium tower, is being repositioned for a mixed-use project featuring 140 rental units and extensive underground parking. The project has been approved for spanning 177,000 square feet. The site will overlook Prospect Park and will feature frontages on both Lincoln Road and Flatbrush Avenue. Construction is slated to begin in late 2011 or early 2012. TerraCRG’s Ofer Cohen, Melissa DiBella, Peter Matheos and Michael Hernandez handled the transaction. TerraCRG was the sole brokerage firm in the transaction.
NEW YORK CITY — Massey Knakal has brokered the following transactions in New York City: A development site in Brooklyn’s Bensonhurst neighborhood at 2439-45 86th St. sold for $1.65 million. The developer plans on converting the 10,000-square-foot parking lot into a one-story retail building. Massey Knakal’s Jeffrey Shalom and Mendy Inglis handled the transaction. A 6,750-square-foot mixed-use building in Brooklyn’s Greenpoint neighborhood at 115 Manhattan Ave. sold for $950,000. The three-story brick building features 2,125 square feet of retail space at the ground level and two apartments above. Massey Knakal’s Mark Lively and Brendan Maddigan handled the transaction. A 14,135-square-foot mixed-use building in the Bronx at 984 Prospect Ave. sold for $815,000. The building features 15 residential units and two commercial units, occupied by a funeral parlor and a florist. Massey Knakal’s Nick Burns and Karl Brumback handled the transaction.
BOGOTA, N.J. — Marcus & Millichap has brokered the $1.08 million sale of 72 East Main Street, an 11-unit multifamily property in Bogota. Marcus & Millichap’s Nat Gambuzza and Lauren Federgreen represented the seller, Bogota Main Street Associates, and procured the buyer, an investor. The property consists of eight one-bedroom units and three two-bedroom units that all have separate entrances.
BELLINGHAM, MASS. — Central National-Gottesman Inc. (CNG) has signed a 12-year, 130,850-square-foot industrial lease at the 190 Mechanic St. warehouse facility in Bellingham. The 210,700-square-foot warehouse is now 100 percent leased. CB Richard Ellis’ Robert Gibson and Ed Jaroz represented the owner, an affiliate of Paradigm Properties, and David Post of Northeast Realty Consultants represented CNG.
NEW YORK CITY — Massey Knakal has brokered the $8.1 million sale of two adjacent mixed-use buildings in Manhattan’s Upper West Side at 450 and 452 Amsterdam Ave. The properties are approximately 18,500 square feet combined with four stores and 16 apartments, and the sales price equates to approximately $437 per square foot. The buildings are both five-stories and have been owned by a New York family for multiple generations. Massey Knakal’s Hall Oster and Paul Smadbeck had the exclusive listing for the properties.
SALEM, N.H. — Integrated Builders has completed a fit-out project totaling 100,000 square feet at 9 Northeastern Blvd. in Salem. Needham, Mass.-based Equity Industrial Partners hired Integrated Builders for the project, which included fit-outs of 74,000 square feet of industrial space and 26,000 square feet of office space. The U.S. corporate office of nora systems, Inc., a rubber floor covering manufacturer, will occupy the space inside the 9 Northeastern Blvd. building, a 660,000-square-foot warehouse. The McKenna Group Ltd. designed the project.
MONTCLAIR AND UNION CITY, N.J. — Gebroe-Hammer Associates has arranged the sales of two multifamily properties totaling 57 units in Montclair and Union City for a combined $5.67 million. The 29-unit, four-story 28 Gates Ave. multifamily property sold for $3.45 million. Ken Uranowitz and David Jarvis of Gebroe-Hammer had the exclusive listing for the transaction. The 28-unit Union City property sold for $2.22 million.