WEEHAWKEN, N.J. — CresaPartners has brokered a 209,000-square-foot lease expansion for data center provider Savvis Inc. in Weehawken. The company will expand its current facility, which is located within Lincoln Harbor, into the adjacent building. The two facilities will be connected directly through fiber optics. Initial plans for the new space include the construction of 35,000 square feet of raised floor space, which should be complete by the second quarter of 2010, as well as a phased expansion that would add another 70,000 square feet of raised floor. CresaPartners' New York City, Paramus, N.J., and San Jose, Calif., offices represented Savvis in lease negotiations. The landlord, Secaucus, N.J.-based Hartz Mountain Industries, provided in-house representation.
NEW YORK CITY — Salmon & Marshall has arranged the sale of a 28-unit apartment building located in the West Village neighborhood of Manhattan, New York City, for $5.9 million. The 16,212-square-foot building is situated at 142 Sullivan St. near Washington Square Park. Kevin Salmon and Matthew Marshall of Salmon & Marshall represented the undisclosed seller and procured the buyers, Jordan Vogel and Aaron Feldman of locally based Benchmark Real Estate Group.
JERSEY CITY AND SECAUCUS, N.J. — Secaucus-based Hartz Mountain Industries has completed leases for two of its New Jersey properties for a total of 458,925 square feet. In the first transaction, Broadridge Financial Solutions signed a lease for a 320,282-square-foot office building located at Two Journal Square Plaza in Jersey City. The building is situated just above the Journal Square PATH terminal and is owned by a partnership between Panepinto Properties and Garden State Development. Michael Cohen and Colton Brown of FirstService Williams, along with David Pennetta of Oxford & Simpson Realty, advised Broadridge. In the second transaction, Meadowlands Distribution signed a lease for 138,643 square feet of industrial space at 35 Henry St. within Hartz's Harmon Cove Industrial Park in Secaucus. Andrew Stypa of Sitar Co. represented Meadowlands Distribution in lease negotiations. Hartz Mountain Industries provided in-house representation. Terms of both leases were not disclosed.
NEWFIELDS, N.H. — O'Neil Warehouse Co. has purchased a 115,000-square-foot warehouse located in Newfields at auction. The building is situated at 16 Swamscott St. O'Neil plans to use it as its new company headquarters. Peter Bilipp of Portsmouth, N.H.-based The Kane Company brokered the transaction on behalf of O'Neil. The acquisition price was not disclosed.
HARTFORD, CONN. — Marcus & Millichap has brokered the sale of a 24-unit apartment building located at 55 Morris St. in Hartford for $1.08 million. Eric Pentore, Victor Nolletti and Steve Witten of Marcus & Millichap's New Haven, Conn., office represented the seller, a limited liability company. Eric Pentore and Adam Mancinone, also of Marcus & Millichap's New Haven office, represented the buyer, another limited liability company. In addition, Marcus & Millichap's Philadelphia office arranged the $2.8 million sale of a 9,010-square-foot ground lease located in Selinsgrove, Pa. The land is occupied by Susquehanna Bank and Red Robin; it fronts a recently completed, 900,000-square-foot power center that is anchored by Giant Foods and Best Buy, among others. Michael Shover, Matthew Gorman and Thomas Gorman of Marcus & Millichap represented the buyer, an undisclosed partnership.
PHILADELPHIA — Cohen Financial has secured a $20 million loan for the refinancing of a more than 1 million-square-foot office building located at 401 N. Broad St. in Philadelphia. The loan includes a fixed interest rate with a 25-year amortization schedule priced on the 5-year U.S. Treasury. Dan Rosenberg of Cohen's Chicago office represented the borrower, Scarsdale, N.Y.-based The Stillman Group. The lender is a regional bank.
FARMINGTON, CONN. — New Boston Fund has disposed of The Exchange, a 250,412-square-foot mixed-use property located in Farmington. The property features professional office, medical office, restaurant and retail space. Occupancy was 80 percent at the time of closing. Office tenants at the property include UCONN Health Center and Energy Services; restaurant tenants include Japanica, Murphy and Scarletti's. Jones Lang LaSalle's Scott Jamieson, Mike Smith, Chris Ostop and Gary Schless represented New Boston Fund in the transaction. Steve Inglese of New Haven Group represented the buyer, The Acre Group. The acquisition price was undisclosed.
WESTFIELD, MASS. — Braintree, Mass.-based Campanelli Cos. has sold a fully permitted, 71.67-acre site located in Westfield to The Home Depot U.S.A. Inc. for $5.76 million. The site is situated within the 130-acre Campanelli Business Park of Westfield. The Home Depot plans to construct an approximately 650,000-square-foot rapid distribution center on the site that will serve the company's Northeast region. The transaction also includes a fully executed tax increment financing agreement related to the project. The construction timetable was not released.
ALLENTOWN, PA. — Insulation manufacturer fiberAmerica has held the ribbon cutting ceremony to mark the opening of its new 61,000-square-foot manufacturing facility in Allentown. The building is located at 7072 Snowdrift Rd., and it will be used to produce the company's environmentally friendly, cellulose fiber insulation products.
LOWELL, MASS. — Jones Lang LaSalle (JLL) has arranged the sale of a Lowe's Home Improvement Warehouse currently under construction in Lowell. The store will total 153,000 square feet and will be situated on Chelmsford Street next to the Cross Point office complex. The store opening is scheduled for April 2010. Jim Koury, Nathaniel Heald and Brandon Dickason of JLL represented the seller, National Development, and procured the buyer, Tanglewood Investors.