NEW YORK CITY — New York-based Aragon Construction has completed a 13,000-square-foot office build-out for the non-profit Forward Association. The office encompasses much of the eighth floor of 125 Maiden Lane, a 17-story, 342,371-square-foot tower located in Manhattan, New York City. Construction included a new executive office wing with private offices, open department areas, conference rooms, informal meeting areas, a reception area, a broadcast space and a gallery/performance space. The project architect was Amie Gross Architects. The project also included the renovation of 5,000 square feet of office space for a sublease tenant or for the Forward Association’s future expansion.
ENFIELD, CONN. — Two Colliers affiliates have completed the leasing of 9,500 square feet of office space at LAN Executive Center, located in Enfield. The Boston office of Colliers Meredith & Grew represented the tenant, Unum. Phil Gagnon of the Hartford, Conn., office of Colliers Dow & Condon represented the undisclosed landlord. Terms of the loan were undisclosed.
BELLINGHAM, MASS. — CB Richard Ellis Realty Trust has purchased a 238,370-square-foot newly completed warehouse/distribution building in Bellingham. The distribution center, which is located at 140 Depot St., is situated between Boston and Providence off I-495 and provides excellent access to I-95, I-93, and I-90. It is expandable and features pre-cast concrete construction, cross-docking, a 36-foot clear height, ESFR sprinklers and excess trailer parking. The Class A build-to-suit facility is fully leased to Best Buy Stores on a long-term lease. The retailer will use this facility primarily as a regional distribution center for home delivery of large items, as well as hosting a small service/repair center and providing dispatching and scheduling. The purchase price was undisclosed.
NEW YORK CITY — The Community Preservation Corporation (CPC) and the New York City Department of Housing Preservation & Development (HPD) have provided a $7.6 million construction loan for the moderate renovation of two five- and six-story rental buildings in the Washington Heights section of Manhattan, New York City. The buildings, located at 75-89 Wadsworth Terrace between Fairview Avenue and 190th Street, contain 83 rental units comprising nine studios, 50 one-bedroom units, 13 two-bedroom units, nine three-bedroom units and two four-bedrooms units. CPC will provide approximately $3.4 million and HPD will provide $4.2 million for a renovation that will include upgrades to the plumbing system, electrical repairs, installation of a new roof, parapet wall repair, kitchen and bathroom replacement, new flooring, new windows and new boilers. The developer is 75-89 Associates, LLC, which is partially owned by Frank Anelante and Joseph Zitolo of Lemle and Wolff.
HARRISBURG, PA. — Coldwell Banker Commercial Bennett Williams has completed the sale of the Shops at TecPort Shopping Center in Harrisburg. Located at 3950 TecPort Dr., the 18,996-square-foot retail center was acquired by 3950 TecPort Drive LP from Bui-Bui, LLC., for $1.65 million. Chad Stine and Brad Rohrbaugh of Bennett Williams represented the seller in the transaction. The new property owners will continue to use Stine and Rohrbaugh’s services to the lease the remaining 8,100 square feet of available retail space. Current tenants of Shops at TecPort include EuroNails, Leading Edge Eye Care, Layne Careful Cleaners and La Piazza Restaurant, which anchors the center. The Shops at TecPort is located in the heart of TecPort Business Park just outside the Harrisburg Mall with visibility from Interstate 83. TecPort Business Park offers more than 1 million square feet of office space and several national hotel chains including Hilton and Homewood Suites.
NEW YORK CITY — New York City’s first Candlewood Suites is slated to open. The Candlewood Suites New York City-Times Square features studio suites with wide rooms, including a full kitchen with a full-size refrigerator, a stove top, a dishwasher, a microwave, and it is stocked with pots, pans, plates, glassware and utensils. The guestrooms also include a recliner, a large workspace with a desk chair and deluxe bedding. The new Candlewood Suites also offers amenities typically found in apartment buildings, including a complimentary 24-hour fitness center, complete with cardio and weight machines, and complimentary onsite laundry for guests. The hotel is located at 339 West 39th St. between 8th and 9th Avenues in Midtown Manhattan, with LaGuardia and JFK International airports both less than 30 minutes away. The Candlewood Suites New York City-Times Square is owned by M&R Hotel, LLC, and managed by Hersha Hospitality, under a license agreement with a company in the InterContinental Hotels Group.
NEW ROCHELLE, N.Y. — Jerry Houlihan and John Manouselis of Houlihan-Parnes Realtors have completed the sale of 73 and 75 Centre Avenue, a five-story brick apartment building and an adjacent lot used for parking located in downtown New Rochelle. 75 Centre Avenue contains 18 apartments, 3 stores and laundry facilities, and 73 Centre Avenue contains 22 parking spaces with development rights. The sales price, as well as the buyer and seller were undisclosed.
STRATHAM, N.H. — The Timberland Company, a footwear and apparel retailer, has renewed its lease for 246,000 square feet at 200 Domain Drive, located in Stratham. The company currently occupies the entire two-story building as its corporate headquarters. The lease carries a 12-year term. It was negotiated on behalf of the landlord, Altid Enterprises, by John Wilson and James Lipscomb of Richards Barry Joyce & Partners. Timberland was represented by Thomas Farrelly of Cushman & Wakefield. Timberland’s headquarters is situated on 28 acres within Stratham Exeter Industrial Park. It features child care and a full-service cafeteria. Timberland also provides office space within the building for City Year’s New Hampshire headquarters.
NEW YORK CITY — SL Green Realty Corp. has secured a $145 million leasehold mortgage to refinance the company’s corporate headquarters building located in New York City. Known as the Graybar Building, the property totals 31 stories and 1.5 million square feet, and is situated at 420 Lexington Ave. near Grand Central Terminal. SL Green first acquired the building in 1998; it was 97 percent leased at the time of closing. The lender was TIAA-CREF; Morton Holliday, Alex Hernandez, Kate Pelet and Kathryn Schledwitz of Cushman & Wakefield Sonnenblick Goldman advised SL Green in the transaction.
PATERSON, N.J. — The Private Client Group of CB Richard Ellis (CBRE) has brokered the sale of a 20,000-square-foot residential building, located at 19-21 Park Ave. in Paterson. The property comprises 24 two-bedroom apartments and four retail spaces. CBRE’s Charles Berger and Dean Marchi represented the seller and procured the buyer. Both parties were undisclosed.