EDISON, N.J. — Vaswani, Inc., has signed a 76,708-square-foot lease to relocate its corporate headquarters to 75 Carter Dr. in Edison. The space will be used for general office space, warehousing, manufacturing and distribution. Jason Barton of Jones Lang LaSalle's Metropark, N.J., office represented the tenant and Lou Belfer and Scott Belfer of CB Richard Ellis' East Brusnkwick, N.J., office represented the landlord, Caro Associates II.
Northeast
WESTBOROUGH, MASS. — Jones Lang LaSalle has brokered the $20.1 million sale of 25 and 29 Research Drive in Westborough, a 320,912-square-foot office campus with up to 500,000 square feet of expansion potential. Scott Jamieson, Michael Smith, Phil DeSimone, John Duffy and Brandon Dickason of the firm's Boston office represented the seller and procured the buyers, National Development and Charles River Realty Investors.
WEST HAVEN, CONN. — Oyster River Realty has purchased a 28,890-square-foot office building, located at 560 Saw Mill Rd. in West Haven, for $1.5 million from Smart Technologies. Alan M. Fischer of Orange, Conn.-based Fischer Real Estate represented the seller and Michael Freda of North Haven, Conn.-based Connecticut Realty Partners represented the buyer.
WAKEFIELD, MASS. — Digital Realty Trust has completed Phase I of a major capital improvements program at 200 Quannapowitt Pkwy. in Wakefield. The 210,000-square-foot office space has been redeveloped into a state-of-the-art data center. The building is part of 100 & 200 Quannapowitt Pkwy., a 387,000-square-foot office and technology center. Tamie Thompson and Greg Zais of Jones Lang LaSalle's Boston office are the leasing agents for the property.
WESTCHESTER COUNTY & BRONX, N.Y. — Englewood Cliffs, N.J.-based Deerwood Real Estate Capital has recently secured $25.1 million in two transactions in New York. A 10-year, $20.5 million loan was arranged for a 160,000-square-foot, Class A office complex in Westchester County by Meyer Perlman, Mark Silbersher and Abe Katz of Deerwood. Also, a 10-year, $4.65 million loan was closed for A 33,300-square-foot grocery-anchored shopping center in the Bronx. Deerwood's Igor Goldenberg negotiated the financing.
PRINCETON, N.J. — Phase I has been completed at The Residences at Palmer Square in Princeton, consisting of 11 town homes and 16 condominium residences. Construction is being executed in three phases, with the entire community scheduled for completion in 2012. Lambertville, N.J.-based Minno & Wasko Architects and Planners designed the property and construction is being completed by Princeton-based MOD Construction Services.
YONKERS, N.Y. — The 137-unit 330 Riverdale, a $54.4 million multifamily housing development located in Yonkers, has opened. The property was developed by L+M Development Partners and features on-site laundry, a children’s play room, a gym, and a community room. Bank of America Merrill Lynch provided $49.7 million of debt and equity financing.
LOWER MACUNGIE, PA. — Allen Distribution has acquired a 580,000-square-foot facility in Lower Macungie’s Lehigh Valley Crossing, located at 3041 Schoneck Rd., from Sacramento, Calif.-based Panettoni Development Co. Kim Meincke and John Van Buskirk of Jones Lang LaSalle represented the buyer, and Bill Wolf and Sean Bleiler of the Allentown, Pa. CBRE office represented the seller.
MASHPEE, MASS. — Boston-based Fantini & Gorga has arranged $25.25 million financing for the 156,000-square-foot, multi-phased South Cape Village, located in Mashpee. The property was developed by C. Talanian Realty and features a Marshalls, Walgreens and Roche Bros. supermarket. The financing, provided by a New England-based financial institution, represents a refinance of the borrower’s construction debt, plus closing costs and allowed the borrower to fund future construction needs and recapture equity.
BROOKLYN, N.Y. — CPEX Real Estate Services Development and Conversion has arranged the $6.5 million sale of a 12,340-square-foot R8-A Residential zoned lot located at 385-393 4th Ave. in Brooklyn. The current plan for construction is 52 residential units totaling 60,580 square feet of residential space and 3,330-square-feet of community use space. Brian Leary, Sean Kelly and Cengiz Sendogdular secured the financing, which was provided by 6th Street Development. The purchaser of this property is a New York-based developer that focuses on building residential rental buildings.