WOLFEBORO, N.H. — Concord, N.H.-based North Branch Construction has been selected to complete a $16 million construction project at Kingswood Regional High School in Wolfeboro. The project will include the construction of a 51,000-square-foot multi-purpose building that will include a 900-seat auditorium, classrooms and locker rooms. New synthetic and natural turf athletic fields will also be installed. Finally, a Geothermal Ground Heat Exchanger piping system will be installed throughout the entire campus. Completion is slated for December 2010. Manchester, N.H.-based CMK Architects is designing the project.
YONKERS AND SCARSDALE, N.Y. — Walgreens has signed agreements for two new locations in Westchester County, New York. In the first agreement, Walgreens signed a more than 25-year lease for the former Foodtown property located on South Broadway in Yonkers. In the second transaction, Walgreens signed another lease in excess of 25 years for the former Montparnasse Restaurant location at 870 Central Park Ave. in Scarsdale. Construction will begin at both locations soon, with store openings planned for mid-2010. John Williams of Yonkers-based NAI Friedland Realty was the sole broker in both transactions. The landlord in the Yonkers deal was McLean-Jomo Realty, and the landlord for the Scarsdale deal was 870 CPA Realty.
RIVERDALE, N.J. — Trammell Crow Residential has begun development of Alexan Riverdale, a new luxury apartment community located in Riverdale. The community will be situated on 15 acres. It will consist of two four-story buildings containing a total of 212 apartments in a mix of one- and two-bedroom units. Also being built is a 5,000-square-foot clubhouse that will feature an outdoor swimming pool, a fitness center, a gaming room, a kitchen and a resident lounge. Sitework is current under way and pre-leasing will begin in the spring. Earlier this year, Trammell Crow opened a similar community called Alexan CityView in Bayonne, N.J.
EAST NORRITON, PA. — Jenkintown, Pa.-based Scully Co. is nearing completion for the newest phase of Dekalb, an apartment community located at 2609 Dekalb Pike in East Norriton. The new phase of the community comprises 72 units in two elevator-served buildings. The residences consist of a mix of one-, two- and three-bedroom units and range from 860 to 1,400 square feet in size. Rents range from $1,275 to $1,695 per month. The first phase of Dekalb was built more than 40 years ago.
SARATOGA SPRINGS, N.Y. — Albany, N.Y.-based Omni Housing Development has completed the first phase of the $18 million renovation of Embury Apartments, a 192-unit senior housing community located in Saratoga Springs. Phase I saw the completion of renovations to the East Tower, one of the community's two 14-story residential towers. Construction included asbestos removal, replacement of all windows and insulation, the conversion of several units for handicapped residents and the addition of ADA-compliant bathrooms. Energy Star appliances were also installed, as was a Wi-Fi hub. The tower will be available for resident occupancy in February. The completion date for the entire project is next summer. CK Dennis Architects is serving as the project architect and MLB Construction is the general contractor. Omni is co-developing the project with Embury Apartments Inc., the property's non-profit owner.
BREINIGSVILLE AND LOWER NAZARETH, PA. — Griffin Land & Nurseries has entered into agreements to acquire two industrial properties located in Pennsylvania for approximately $8.2 million. The first property is a 120,000-square-foot building located in Breinigsville. The second property is a 51-acre land parcel zoned for industrial development that is located in Lower Nazareth. The industrial building was built in 2007 and is fully leased to a single tenant for the next 6.5 years. The land parcel is expected to support the development of two industrial buildings totaling approximately 530,000 square feet. Griffin submitted separate winning bids for the properties at a bankruptcy auction, but the transactions are subject to necessary approvals.
CALDWELL AND SPRINGFIELD, N.J. — Woodbridge, N.J.-based The Kislak Company has completed two mixed-use sales in New Jersey for a total of $2.31 million. In Caldwell, Kislak's Jonathan Greenberg and Don Baxter represented both undisclosed parties in the sale of a 12,250-square-foot building located at 319-325 Bloomfield Ave. The building contains eight apartments and four retail spaces. It traded for $1.8 million. In Springfield, Kislak's Jeffrey Squires represented both parties in the sale of a 5,200-square-foot building located at 19 Morris Ave. The building, which traded for $510,000, contains four apartments and one retail space. The buyers plan to make capital improvements to both buildings' apartment units.
BETHPAGE, N.Y. — Two lease renewals totaling 210,628 square feet have been signed at 1055 Stewart Avenue, an office building located in Bethpage. Briarcliffe College renewed its lease for 116,500 square feet and Northrop Grumman Systems Corp. renewed its lease for 94,128 square feet. Briarcliffe College has occupied the building for 15 years and Northrop Grumman has occupied it for 10 years. The landlord, Tilles & Zuckerbrot, was represented by Sholom & Zuckerbrot Realty. Philip Heilpern of CB Richard Ellis represented the tenant in both transactions. Approximately 20,000 square feet remains for lease at the building.
BOSTON — DPI Mid Atlantic has signed a lease for 102,000 square feet of warehouse space at 135 Will Drive in Boston's South submarket. The property features rail access, up to 30-foot clear ceiling heights and can accommodate tenants from 100,000 to 406,000 square feet. Robert Gibson and Edward Jarosz of CB Richard Ellis represented DPI in lease negotiations. The landlord, JF&S Realty, was represented by J.P. Plunkett, J.R. McDonald and Ned Havern of Cushman & Wakefield of Massachusetts.
WEST ORANGE, N.J. — CB Richard Ellis Capital Markets (CBRE) has arranged a $3 million bridge loan for a medical office building located in West Orange. The property totals 39,131 square feet and is located at 475 Prospect Ave. At the time of closing, it was 50 percent leased to Omni Eye Specialists, PA for a 15-year term. The loan includes a 2-year term with interest-only payments and a note rate of 300 basis points over LIBOR. CBRE's James Gunning and Donna Falzarano secured the loan on behalf of the borrower, Prism Green Associates III. The lender was Peoples United Bank.