FALMOUTH, MASS. — An investment fund managed by ING Clarion Partners has acquired Sea Crest Resort & Conference Center, a 23-acre, 266-room, oceanside resort located in Falmouth. The new owners plan to complete extensive, multi-phase renovations to the property. Guestrooms, conference facilities, the lobby and the landscaping will be upgraded. Longer-term plans call for the construction of a sports pub, a soda fountain and carry-out food area, and a poolside bar as well as the renovation of the resort's outdoor swimming pool. The first phase of renovations will be complete by June, with the entire renovation complete by June 2011. The seller's name and the acquisition price were not disclosed.
BERGENFIELD, N.J. — NAI James E. Hanson has completed the sale of a 44,000-square-foot flex building located at 33 New Bridge Road in Bergenfield. Situated on 1.4 acres, the property includes showroom, warehouse and office space. Amenities include 18-foot clear ceiling heights, six tailgates, eight drive-in doors and 35 car parking spaces. Jon Stravitz and Russell Verducci of NAI Hanson represented the seller, 33 New Bridge Properties LLC. The buyer is 456 Washington LLC, a jewelry wholesaler that plans to take occupancy of the building in the early part of this year.
SOUTHBRIDGE, MASS. — Gickman, Kovago & Co. (GKC) has brokered the sale of a 23,600-square-foot office and industrial facility in Southbridge. The property, which is located at 79 North St., will be occupied by Precision Testing Laboratories as lab space. Jeffrey Borus and David Cohen of GKC brokered the deal between the seller, Savers Bank, and the buyer, Fromm Development. The sale price was $240,000.
VERNON, CONN. — Colliers Dow & Condon has brokered the sale of a 37,500-square-foot industrial building located in Vernon. The buyer, aerospace parts manufacturer Soldream Inc., plans to relocate to the building, situated on 5.23 acres at 129 Reservoir Road, from its previous location in Tolland, Conn. The seller was San Clemente, Calif.-based ICU Medical Sales. Richard Abo of Colliers was the sole broker in the transaction. The acquisition price was not disclosed.
CAMBRIDGE, MASS. — Ironwood Pharmaceuticals has expanded its lease at 301 Binney Street, a five-story laboratory research facility located at Kendall Square in Cambridge. The company is leasing an additional 50,000 square feet, bringing its total space occupied at the property to approximately 164,000 square feet. The property is owned by BioMed Realty Trust through a joint venture with a client of Prudential Real Estate Investors.
WESTWOOD, MASS. — Chase Corp., a tape and coating manufacturer, has signed a lease for a 20,200-square-foot office and laboratory building located at 295 University Ave. in Westwood. The new facility will consolidate operations from Chase's Albany, N.Y., and Randolph and Taunton, Mass., offices. John Lashar, Paul Leone and Jay Nugent of Richards Barry Joyce & Partners represented the tenant in lease negotiations. Colliers Meredith & Grew represented the landlord, BEC 1999 Development Trust. Terms of the lease were not disclosed.
GLASTONBURY, CONN. — An undisclosed owner/user has acquired a 7,500-square-foot flex industrial property located in Glastonbury for $750,000. The building is situated on 3.8 acres at 130 National Drive. John Carfasso of Colliers Dow & Condon represented the seller, 130 National Drive LLC. Don Goodwin of Murray Real Estate represented the buyer.
NEW YORK CITY — Harris Corp. has relocated its New York City offices to 17,460 square feet at 555 5th Ave. The company was formerly located at 99 Madison Ave. Tadd Wisinski and David Starr of Chicago-based UGL Equis represented the tenant in lease negotiations. Peter Goldich of Atco Properties & Management provided in-house representation for Atco, the landlord. Terms of the lease were not disclosed.
WAKEFIELD, MASS. — Marketing services company Epsilon has renewed and extended its lease at 601 Edgewater Drive in Wakefield. The company will now occupy 135,000 square feet of space within the Class A office building for an 8-year term. John Boyle and Michael O'Leary of FHO Partners represented Epsilon in the transaction. Chip Batchelder of Wyman Street Advisors represented the landlord, Hobbs Brook Management.
PITTSBURGH, PA. — Keystone Property Group has completed the $53.5 million refinancing of Keystone Summit Corporate Park, a 101-acre, Class A office campus located in Pittsburgh. Developed between 1997 and 2002, Keystone Summit consists of five completed buildings and one building under development that total 704,474 square feet. The property is fully occupied by a tenant roster that includes Westinghouse Electric Co., Ericcson, Heinz North America, Siemens, Medco and Federated Investors. Matthew Pestronk and Christine Zivkovic of Ackerman-Ziff assisted Keystone in the refinancing. Matt Sigel and Jessica Jacobs provided in-house representation for Keystone, which was able to cash out two-thirds of its equity in the property as part of the refinancing. The loan was originated under the second generation of CMBS financing.