TARRYTOWN, N.Y., AND CAMBRIDGE, MASS. — Life science REIT BioMed Realty Trust has signed two new leases. In the first transaction, BioMed signed a 10-year lease for approximately 148,000 square feet at The Landmark at Eastview campus in Tarrytown. The new lease replaces two existing leases BioMed had with the landlord, Progenics Pharmaceuticals, that were set to expire between 2009 and 2012. In the second transaction, BioMed signed a 10-year, approximately 80,000-square-foot lease for laboratory research space at 301 Binney St. in Cambridge. The landlord is a joint venture between The Broad Institute of MIT & Harvard and institutional investors advised by Prudential Real Estate Investors.
NEW YORK CITY — Manhattan, New York City-based Winoker Realty Co. has brokered the sale of a 10,314-square-foot commercial condominium unit located in Manhattan for $4.85 million. The condo consists of the 11th and 12th floor penthouse of 323 W. 29th St. The seller, The Elizabeth Foundation for the Arts, was represented by Jonata Dayan, Adam Ben-Dayan and Jonathan Ben-Dayan of Winoker. The buyer, Michael Brandon Enterprises, plans to use the space for its New York corporate headquarters and as a showroom. The company was represented by Robert Dalton of RMD Realty Associates.
NEW YORK CITY — SL Green Reatly Corp. has acquired a leasehold position in The Graybar Building for $7.6 million. The 31-story, 1.5 million-square-foot office and retail building is located at 420 Lexington Ave. in Midtown Manhattan, New York City. SL Green first acquired the property in 1998. Earlier this year, the company acquired another leasehold position in the building from W&M Properties and refinanced its mortgage on the property with TIAA-CREF. Cushman & Wakefield Sonnenblick Goldman advised SL Green in the transaction.
LACONIA, N.H. — Construction is complete for a new 118,000-square-foot building at Laconia Memorial Middle School in Laconia. The three-story building replaces a building constructed in 1961 that was demolished as part of the project. The new building contains classrooms, administrative spaces, a library/media center, a cafteria and kitchen, a gymnasium and a multi-purpose room. It can accommodate up to 750 students. ARC/Architectural Resources Cambridge was the project architect and Harvey Construction Co. was the general contractor.
BRODHEADSVILLE, PA. — Coldwell Banker Commercial (CBC) Pennco Real Estate has arranged the purchase of a 9,000-square-foot auto shop in Brodheadsville for $1.4 million. The property, which is situated at the intersection of Route 209 and Silver Valley Drive, was purchased by Somerset Tire Service. The buyer has opened its second STS Tire & Auto store at the location. CBC's Terri Mickens negotiated the transaction. Mickens also assisted Somerset Tire Service in the acquisition of its first STS Tire & Auto location earlier this year in Bartonsville, Pa.
HANCOCK, MASS. — NorthMarq Capital has arranged $10 million in permanent financing for Jiminy Peak Mountain Resort in Hancock. Constructed in 1948, Jiminy Peak is a four-season resort that offers skiing and snowboarding in the summer and the Mountain Adventure Park in the summer. It also contains conference and wedding facilities. Debbie Orloff of NorthMarq's Boston office secured the financing on behalf of the undisclosed borrower through the lender, Berkshire Bank. Terms of the loan were also not released.
PALMER TOWNSHIP, PA. — Atlanta-based IDI has completed a 130,000-square-foot, build-to-suit project in Palmer Township on behalf of Porsche Cars North America. Porsche's Northeast Retail Support Center contains a Porsche Academy Training Center, the automaker's Area East offices and the new Northeast Parts Distribution Center. The project also received LEED-Gold certification, with green features that include a building automation system, an energy-efficient HVAC system, increased roof and wall insulation, a custom-designed lighting system and stormwater management features on the property.
BOSTON — Sawyer Enterprises has opened the new W Boston at 200 Newbury St. in Boston's Theatre District. The building features a W Hotel as well as The Residences at W Boston. The hotel portion, which takes up the lower 14 floors of the building, features 235 guestrooms, including 24 suites. The residential portion, which occupies floors 15 through 27, contains 123 condominiums ranging in size from studio to three bedrooms. The tower also contains casual restaurant Market, the first Boston location for Bliss spa, a fitness center and approximately 5,000 square feet of meeting space. Descent, an underground bar and lounge, will open at the building in early 2010. Sawyer Enterprises is the owner and developer of the project. The design team includes Boston-based William Rawn, New York City-based Bentel & Bentel, and TRO Jung|Brannen.
MARLBOROUGH, MASS. — Construction management firm J. Calnan & Associates has completed the multi-phase renovation of Acosta's corporate headquarters in Marlborough. Construction at the 90,000-square-foot building consisted of two main components. The first was the renovation of the sales and marketing company's new space, consisting of a basement and four floors of the building. New offices and conference rooms were constructed, and multiple floors received new paint, carpet and millwork. The first-floor kitchen and cafeteria were demolished and a new cafeteria and dining lounge were constructed in the basement. Also, energy efficient windows, modern furniture and a new entry door were installed. The project architect was Nelson. The second component, which J. Calnan completed on behalf of building owner TA Associates Realty, consisted of the renovation of the space Acosta formerly occupied in the building. A new atrium was created out of the first-floor entry stair and mezzanine. The vacant first-floor kitchen space was remodeled into finished office space with executive offices, a conference room and a kitchenette. The common areas were also refinished and a new glass door entryway was installed.
ROBINSON TOWNSHIP, PA. — Chattanooga, Tenn.-based CBL & Associates Properties has held the grand opening for Settlers Ridge, a new 600,000-square-foot, open-air retail center located in the Pittsburgh suburb of Robinson Township. Occupancy at the center is more than 94 percent. It is anchored by a 16-screen Cinemark theater, REI and LA Fitness. A 150,000-square-foot Giant Eagle Market District supermarket will open in November, and Barnes & Noble will open in spring 2010. Other tenants already open at the center include Panera Bread, P.F. Chang’s, Red Robin, Omaha Steaks, Sport Clips, Verizon Wireless and Vitamin Shoppe, among others.