Northeast

SUFFOLK CONSTRUCTION BREAKS GROUND ON $170M RESIDENTIAL TOWER

by admin November 9, 2011

BOSTON — Construction crews have broken ground on The Kensington, a $170 million residential tower in Boston. The 488,000-square-foot tower, located at 659 Washington St., includes 381 rental apartments and 2,300 square feet of ground retail space. The development team includes Boston-based Kensington Investment Co., National Development and equity partner Northwest Mutual. Suffolk Construction is the contractor for the project and the architectural firm is The Architectural Group. Construction is scheduled for completion in summer 2013.

November 9, 2011

BAKER & MCKENZIE SIGNS 15-YEAR LEASE AT IDB GROUP'S TROPHY FIFTH AVENUE TOW

by admin November 9, 2011

NEW YORK — Law firm Baker & McKenzie has signed a 15-year lease for 105,803 square feet on seven floors of the trophy tower, owned by IDB Group. Mitchell Steir, John Mambrino, David Goldstein and Matthew Barlow of Studley represented Baker & McKenzie in the transaction. Craig Reicher, Howard Fiddle, James Ackerson, Zachary Freeman, Sinclair Li and Greg Maurer-Hollaender of CB Richard Ellis represented the building owner.

November 9, 2011

Hospitality Northeast

GENE KAUFMAN TO DESIGN TWO HOTELS IN MANHATTAN

by admin November 8, 2011

MANHATTAN — Gene Kaufman Architect is designing two new hotels, both developed by Hidrock Realty, in Midtown Manhattan. The company is reinventing the former office building at 960 Sixth Ave. into a Courtyard by Marriott and developing a groundup SpringHills Suites by Marriott at 25 W. 37th St. The 100,000-square-foot Courtyard will include 167 rooms with retail space on the ground floor. The 70,000-square-foot SpringHill Suites will include 173 rooms. The Courtyard is slated for completion in the fall of 2012, while SpringHill is expected to be completed by 2013.

November 8, 2011

Northeast Office

WEWORK SIGNS 74,000-SQUARE-FOOT LEASE IN NEW YORK

by admin November 8, 2011

NEW YORK— Colliers International has arranged a 15-year, 74,000-square-foot lease at 175 Varick St. WeWork, a provider of high-end office suites, will take space on multiple floors. Eric Meyer, Richard Plehn and Seth Hecht of Colliers International's New York office represented the landlord, Extell Development Co. Sean Black of Jones Lang LaSalle represented WeWork in the transaction.

November 8, 2011

Hospitality Northeast

SONESTA SLATED FOR ACQUISITION

by admin November 8, 2011

BOSTON— Hospitality Properties Trust of Newton, Mass. has agreed to acquire Boston's Sonesta International Hotels Corp. for $150 million. Sonesta's management team will remain in place and continue to run the companies properties, including the 22,000-square-foot Royal Sonesta Hotel in Cambridge. The deal is expected to take place early next year. Deutsche Bank Securities served as financial advisor to Sonesta and Goodwin Procter served as legal counsel to Sonesta in the transaction.

November 8, 2011

Mixed-Use Northeast

BROOKLYN MIXED-USE BUILDING SELLS FOR $1.3M

by admin November 8, 2011

BROOKLYN, N.Y. — Marcus & Millichap Real Estate Investment Services has completed the sale of 567 Vanderbilt Ave. in Brooklyn, N.Y. for $1.3 million. The mixed-use building includes 4,864 square feet. Bruce Thomsen, Derek Bestreich and Shaun Riney of Marcus & Millichap's Brooklyn office represented the seller, a private investor. The buyer, a limited liability company, was secured and represented by Riney and Bestreich.

November 8, 2011

Industrial Northeast

CHOCOLATE MANUFACTURER BUYS 65,804-SQUARE-FOOT FACILITY IN NEW JERSEY

by admin November 8, 2011

SWEDESBORO, N.J. —Binswanger has completed the sale of a one-story, 65,804-square-foot facility, located at 400 Eagle Ct. in Swedesboro, N.J. The buyer, Cocoa Services LP, is a chocolate manufacturer and plans to use the facility for cocoa processing. Marc Policarpo and Bob Corr of Binswanger's New Jersey office represented the seller, Barry Callebaut USA LLC, in the transaction. David Ricci of Flynn Co. represented the buyer.

November 8, 2011

Northeast

CONSTRUCTION ENDS ON $4.9M NEW JERSEY PRIVATE SCHOOL

by admin November 7, 2011

OAKLAND, N.J. —Construction is complete for the new $4.9 million Reed Academy in Oakland, N.J. The 25,000-square-foot private school includes classrooms, an exercise area and a nursing bay. Elmwood Park, N.J.-based River Drive Construction Co. was the construction manager for the project. The development team also included New York-based Weisz and Yoes Architecture, Michael Murray P.A. and Oakland, N.J.-based McNally Engineering LLC.

November 7, 2011

Industrial Northeast

PARCEL POINT LEASES 90,000 SQUARE FEET IN PENNSYLVANIA

by admin November 7, 2011

EASTON, PA. — Parcel Point Inc., a third-party logistics company, has leased 90,000 square feet of warehouse space at 900 Conroy Place in Easton, Pa. Michael Adams of NAI Summit represented Parcel Point in the transaction. Hawley Realty represented the owner, LIG Business Holdings.

November 7, 2011

Mixed-Use Northeast

GROUNDBREAKING HELD FOR $500M SCIENCE COMPLEX IN CAMBRIDGE

by admin November 7, 2011

CAMBRIDGE, MASS. —Alexandria Real Estate Equities Inc. has broken ground on the first phase of a $500 million science and technology complex in Cambridge, Mass. Alexandria Center at Kendall Square will ultimately include 1.7 million square feet of office, laboratory and residential space. Biogen Idec, a global biotechnology firm, will occupy the first six-story, 307,000-square-foot building at 225 Binney St. when it delivers in 2013. The building is designed by architectural firm Spagnolo Gisness & Associates Inc.

November 7, 2011

Newer Posts

Older Posts

Upcoming Events

May
12