NEW YORK CITY — FirstService Williams has represented GDS Publishing in a 20,240-square-foot, long-term lease on the fifth floor at 40 Wall Street in Manhattan, New York City. GDS is relocating to the Trump owned and managed property from 12,000 square feet in its current U.S. headquarters at 33 Whitehall St. Jared Freede and Greg Wang of FirstService Williams orchestrated the deal. GDS is set to occupy the space later this year. FirstService Williams will be marketing the space at 33 Whitehall Street that GDS is leaving behind.
Northeast
BOSTON — Skanska USA Building has completed a $74 million rehabilitation project at Harbor Towers, a 40-story luxury condominium complex comprising two towers located on Boston’s waterfront. Skanska served as program manager and oversaw the repair and replacement work for the rehabilitation. The project involved replacing more than 19,000 linear feet of corroded HVAC riser pipe and 1,872 fan coil units throughout the two buildings. The firm used 4D modeling to ensure accuracy and efficiency for each phase of the project. The two towers that make up Harbor Towers were designed by architect I.M. Pei and completed in 1971.
BERLIN, CONN. — Colliers Dow & Condon has brokered a lease transaction for Phase I of ARGO Center, located at 550 Wilbur Cross Pkwy. in Berlin. ABC Supply has signed a long-term, approximately 65,000-square-foot lease for its wholesale distribution operations. Nicholas Morizio of Colliers Dow & Condon facilitated the transaction. Leasing has also begun for future phase of the development. Phase II consists of three retail/industrial pad sites, and Phase III will consist of an 84,000-square-foot retail building.
MARLBOROUGH, MASS. — Richards Barry Joyce & Partners (RBJ) has brokered four lease transactions that total 87,700 square feet at Marlborough Technology Park in Marlborough. John Lashar and Paul Leone of RBJ represented the landlord, Normandy Real Estate Partners in the four transactions. Bistream, Inc. will occupy 26,801 square feet of the 82,423-square-foot building, located at 245 First St. Cushman & Wakefield represented Bistream in the transaction. Mentor Graphics signed a lease renewal for 16,376 square feet of the 80,724-square-foot building, located at 300 Nickelson Rd. Mentor was represented by CresaPartners. MetroWest Medical Center signed an 18,872-square-foot lease of the 74,735-square-foot building, located at 100 Nickelson Rd. Cushman & Wakefield represented MetroWest in the transaction. Finally, New Energy Alliance signed a 25,671-square-foot lease at 300 Nickelson Rd. and was represented by CB Richard Ellis. The 100 and 300 Nickelson Rd. properties are now at full occupancy.
NEW YORK CITY — A 25-unit, single-room occupancy property has been traded for $850,000. The five-story building, which is located at 566 W. 182nd St., was vacant at the time of the trade. The new owner will continue to operate the building as a residential property. Neil Gronowetter of Eastern Consolidated represented the seller, West 182nd Realty, and procured the buyer, GSC Washington Heights LLC, in the transaction.
SPRINGFIELD, N.J. — No Body Denied Health Club has signed a 21,500-square-foot lease to anchor the 66,000-square-foot Echo Plaza shopping center, located at the intersection of Mountain Avenue and U.S. Route 22. Adding No Body Denied is part of a renovation that the owner, Larken Associates, is completing. Ethan Goldsmith of Levin Management Corp. facilitated the transaction for the owner. Joseph D’Agostino of Lance Bram Commercial Brokerage represented No Body Denied.
NEW YORK CITY — Boston Capital has invested in Harriet Tubman House Apartments, an affordable housing project under development in Harlem, Hew York City. The project, which is being developed by locally based West Harlem Group Assistance, will consist of the rehabilitation of a former homeless shelter. Two buildings will be renovated and a third building will be constructed. The new community will contain 53 units in a mix of two studios, 13 one-bedrooms, 26 two-bedrooms and 12 three-bedrooms. Sixteen of the units will be set aside for formerly homeless residents. Amenities will include 1,500 square feet of community space with a community room and laundry facilities; a sixth floor common roof deck; and a meeting space with a kitchen, a pantry and a resident recreation area. The construction timetable was not released.
BERNARDSVILLE, N.J. — Denholtz Associates has acquired a 56,000-square-foot, Class A office building at 150 Morristown Rd. in Bernardsville. The building was acquired in a joint venture partnership that included Becker Brothers. Located in the desirable I-287 corridor just outside Morristown in Somerset County, the facility offers units from 800 to 1,500 square feet and recently underwent substantial upgrading by its former owners. The building features a two-story lobby, 24/7 access, executive covered parking and award-winning property management. The building is directly off of Route 202/206 and is in close proximity to Routes 78, 287, public transportation, shopping, restaurants, banking, and hotels.
NEW YORK CITY — Peter Berk and Michael Sonnabend, formerly affiliated with AFC Realty Capital, recently formed PM Realty Capital and its subsidiary PM Hotel Finance Group. The firm, which is headquartered at 845 Third Ave. in Manhattan, New York City, will offer real estate investment banking services on a nationwide basis. Together, the duo brings a combined 40 years of experience to the marketplace. Berk, who will spearhead the firm’s hotel practice, has financed more than $5 billion of hotels representing more than 20,000 rooms in his career.
PITTSBURGH — Five Below, a value retailer geared toward teens and pre-teens, has signed a lease for its 100th store and its first in the Pittsburgh market. The new store, which will be located in the Waterworks Shopping Center on Freeport Road, is slated to open in November. The retailer also has plans to open three more locations in Butler, Cranberry and Altoona, Pennsylvania, next year. With the signing of the lease for its 100th store, Five Below will operate in nine states on the East Coast, from New Hampshire to Virginia. The company plans to open 10 to 15 additional stores in the Pittsburgh market and grow to more than 200 total locations over the next 2 years. In addition, Five Below is evaluating new markets from New York, Ohio and North Carolina, among others, for entry.