HAZLETON, PA. — Grubb & Ellis has brokered a 168,630-square-foot industrial lease at Humboldt Industrial Park in Hazleton. Graham Packaging will occupy space within a 400,260-square-foot distribution building situated at 68 Green Mountain Rd. The facility features 32-foot clear ceiling heights and was constructed in 2006. Steve Bonge, Tim Brogan and Patrick McBride of Grubb & Ellis negotiated the deal between Graham Packaging and the landlord, Higgins Development Partners. Currently, 231,000 square feet remains for lease at the building. It is also available for sale.
NEW YORK CITY — ABS Partners has purchased three New York City parking garages for $10.5 million. The freestanding properties include a 78-space garage located at 550 W. 174th St., a 171-space garage located at 528 W. 162nd St. and a 176-space garage located at 284 Audubon Ave. The first two garages are situated near Columbia Presbyterian Hospital and the last garage is situated near Yeshiva University. Steve Hornstock, Gregg Schenker and Earle Altman provided in-house representation for ABS. The undisclosed seller was represented by Howard Greenberg of Ace Capital Ventures and Anne DeMarzo of DeMarzo Realty Co.
LANCASTER, PA. — A joint venture between The Goldenberg Group and Pennsylvania Real Estate Investment Trust has procured a $24.9 million loan for the refinancing of Red Rose Commons, a 463,000-square-foot retail property located in Lancaster. The open-air shopping center is situated on Fruitville Pike. It is occupied by a tenant roster that includes The Home Depot, Barnes & Noble Booksellers, Weis Markets and hhgregg Appliances & Electronics, which recently signed a lease for 32,000 square feet formerly occupied by Circuit City and will take occupancy in April. The lenders in the transaction were M&T Bank, Abington Bank, DNB First and Meridian Bank. Terms of the loan were not disclosed.
ORANGE, CONN. — Dallas-based Behringer Harvard has acquired a 168-unit multifamily community located in Orange. The property, which Behringer Harvard is renaming Grand Reserve Orange, is situated on 9.6 acres at 75 Prindle Hill Rd. It was constructed in 2005 and comprises six three-story buildings separated by a wetland preserve with a scenic boardwalk. The units contain a mix of one, two and three bedrooms. Amenities include a clubhouse with a fitness center and a leasing office, a swimming pool, a landscaped barbecue and picnic area, and a playground. The seller and the sales price were not disclosed.
NEW YORK CITY — Construction is complete for the renovation and repositioning of Manhattan Mall, a 400,000-square-foot retail center located in Manhattan, New York City. Renovations to the mall, which fronts Avenue of the Americas from 32nd Street to 33rd Street, included a renovation of the core and atrium, the relocation and addition of escalators and stairs, and the recladding of a portion of the property's façade. In addition, a 153,000-square-foot JCPenney was added, marking the retailer's first Manhattan location. The property is owned by Vornado Realty Trust, which acquired it in 2007. It was designed by architecture firm GreenbergFarrow. The companies also recently worked together on the 600,000-square-foot retail component of Rego Park Mall II in Queens, which is just wrapping up construction.
MOORESTOWN AND CHERRY HILL, N.J. — Colliers Lanard & Axilbund (CLA) has negotiated the sale of a 52,800-square-foot industrial building located in Moorestown for $2.8 million. The building is siauted at 9 Whittendale Drive within the Moorestown Industrial Park. Starlight Productions International purchased the property and plans to use it to expand its operations, currently located in nearby Cherry Hill. Marc Isdaner of CLA represented the seller, First Industrial LP. Paul Wierzel of NAI Mertz represented Starlight. In addition, Isdaner and Ian Richman, also of CLA, represented A.F. Callan & Co. in the sale of an 8,216-square-foot flex building located at 615 Deer Rd. in Cherry Hill to Deli-on-the-Go dba Kosher Mart Foods. The property traded for $550,000.
MANCHESTER AND PORTSMOUTH, N.H. — CB Richard Ellis/New England (CBRE) has brokered the $7 million sale of two former Circuit City locations in New Hampshire. The first property is a 33,110-square-foot building located at 1100 S. Willow St. in Manchester and the second is a 34,960-square-foot building located at 1700 Woodbury Ave. in Portsmouth. Roger Dieker of CBRE's Manchester office represented the seller in both transactions, Dicker-Warmington Properties, with Kent White of CBRE's Portsmouth office assisting in the Portsmouth transaction. Dieker also procured the buyer of the Manchester property, Quirk Automotive Group. The buyer of the Portsmouth property was Ocean State Job Lot of Portsmouth LLC.
GARDNER, MASS. — William A. Berry & Son has topped out construction for a $27 million addition to Heywood Hospital in Gardner. The project will add 72,000 square feet of new construction to the hospital, consisting of the Watkins Acute Care & Emergency Center as well as two floors of inpatient facilities. Completion of the addition is slated for July 2010. The multi-phase project will also include the relocation of the CT and MRI services, renovations to the existing emergency room, the construction of a new clinical and oncology building, and renovations to the hospital's lobby and entryway.
NEW YORK CITY — Brooklyn, New York City-based Kalmon Dolgin Affiliates (KDA) has brokered the sale of two industrial properties located in Brooklyn's Bushwick neighborhood for $2.9 million. The buildings consist of a 10,000-square-foot warehouse located at 102 Pilling St. and a 10,000-square-foot former food manufacturing facility located at 759 Chauncey St. The buyer, a non-profit organization, plans to convert the Pilling Street property into a medical office building. The property is zoned for an additional two stories and 20,000 square feet. The Chauncey Street property has been put back on the market for sale. Allison Chambers of KDA represented the buyer as well as the seller, Joreland Realty. KDA is also handling the re-sale of the Chauncey Street property.
FORT LEE, N.J. — An investment fund sponsored by Palisades Financial has partnered with Fort Lee Redevelopment Associates (FLRA) for the redevelopment of a 7-acre parcel located in Fort Lee. The project, which is known as The Center at Fort Lee, will consist of a mixed-use development containing luxury retail shops, restaurants, office space, a gourmet food market, a four-star hotel, two luxury rental towers and a landscaped central park. Additional plans call for a museum at the center of the development and potentially a multi-use theater. The Center at Fort Lee is being designed by Elkus Manfredi Architects. Palisades Financial is developing the project through Palisades Regional Investment Fund II. The fund recently entered into an agreement to sell the 7-acre site to FLRA, which is comprised of SJP Residential Properties and local attorney James Demetrakis. FLRA is undertaking the project as a result of a request for proposal sent out by the Borough of Fort Lee to redevelop a 15-acre assemblage situated adjacent to the George Washington Bridge that includes the 7-acre parcel. The construction timetable was not released.