FRAMINGHAM, MASS. — Claremont Realty Trust has purchased a 12,600-square-foot, multi-tenant office building located at 550 Worcester Road in Framingham for $1.92 million. Dean Blackey and Craig Johnston of R.W. Holmes Realty represented the seller, K&N Commercial. The pair also procured the buyer.
BENSALEM, PA. — Roddy Inc. has brokered the sale of a single-story, 15,150-square-foot industrial facility in Bensalem for $800,000. The building contains 16-foot ceiling heights, two tailgate docks, one drive-in door and 2,665 square feet of office space. It is situated within Woodhaven Industrial Park at 1642 Woodhaven Drive. Roddy represented the seller, French Palm LLC. The buyer is a carpentry/drywall subcontractor.
MARLBOROUGH, MASS. — The Capital Markets group of Colliers Meredith & Grew has arranged a $9 million loan for the refinancing of Post Road Plaza in Marlborough. The 209,657-square-foot shopping center is located at 246 E. Main St. It is 98 percent leased to a tenant roster that includes Marshalls, CVS/pharmacy, Price Chopper and Ocean State Job Lot. John Broderick of Colliers represented the borrower, Karnak Realty. The loan carries a 20-year term and a fixed interest rate. The lender is Aviva Investors, a subsidiary of Aviva plc.
PORT JEFFERSON, N.Y. — NorthMarq Capital has secured a $4 million first mortgage for 18.5 acres of land located in Port Jefferson. The undisclosed borrower plans to develop 43 age-restricted townhomes on the site. The loan carries a 1-year term with a 1-year renewal option. Charles Cotsalas of NorthMarq's Long Island office arranged the deal through a regional financial institution.
LEE, N.H. — Fantini & Gorga has arranged $3.36 million in permanent financing for a Walgreen's pharmacy located at 91 Calef Highway in Lee. The lender in the deal was aMassachusetts banking institution. The borrower was Calef Highway Lee LLC.
BOSTON AND EAST STROUDSBURG, PA. — Arbor Commercial Funding has arranged a total of $2.37 million in Fannie Mae DUS financing for two multifamily communities. In the first transaction, Arbor's John Kelly originated a $1.87 million loan for a 16-unit property located at 1322 Commonwealth Ave. in Boston. The non-recourse loan carries a 10-year term, a 30-year amortization schedule, a 5.98 percent interest rate and an 80 percent loan-to-value ratio. In the second transaction, Arbor's Ronen Abergel originated a $1.5 million loan for Lakeside Manor Apartments, a 44-unit community located in East Stroudsburg. The loan carries a 10-year term, a 30-year amortization schedule and a 5.68 percent interest rate.
NEW YORK CITY — Monday Properties has partnered with an affiliate of Savanna Investment Management to recapitalize 386 Park Avenue South, a 20-story, 260,000-square-foot office building located in Midtown Manhattan. The joint venture plans to pursue a repositioning program for the property that will include significant capital improvements. Monday Properties will continue to manage and lease the building.
MECHANICSBURG, PA. — Woodstream Corp., a distributor of garden and pest products, has renewed its lease for 203,892 square feet at a 333,075-square-foot warehouse building located in Mechanicsburg. David Paster of Heller Industrial Parks provided in-house representation on behalf of the owner. Pat Lafferty of CB Richard Ellis represented the tenant.
LAKE SUCCESS, N.Y. — Stellae International has subleased 111,000 square feet in Lake Success from The New York Times Co. The space is located at 1111 Marcus Ave., within a 1.4 million square-foot office and industrial building. The New York Times had previously used the space, which features 17-foot clear ceilings, as a distribution center. Stellae will take occupancy of the space in the second quarter. Richard Cohen represented The New York Times in lease negotiations. Schacker Realty Corp. represented Stellae. The asking rent for the space was $7 per square foot.
BOSTON — Four leases totaling 79,500 square feet have been signed at Seaport Center, a nine-story, 465,000-square-foot office building located at 70 Fargo St. in Boston's Seaport District. Monster.com signed a lease for 28,000 square feet, which will serve as a data center. Verizon also signed a 28,000-square-foot lease and will use the space for a telecom facility. Interaction Associates signed a 10,000-square-foot lease for its new East Coast headquarters. Finally, Altran Solutions renewed the lease for its 13,500-square-foot Northeast headquarters. Bill Barck and Ben Heller of Jones Lang LaSalle represented the landlord, a joint venture between The Beal Companies and Rockpoint Group, in lease negotiations. NAI Hunneman represented Monster.com; CB Richard Ellis represented Verizon; FHO Partners represented Interaction Associates; and Grubb & Ellis represented Altran. The building is now 80 percent leased.