WHITE PLAINS, N.Y. — GHP Office Realty, an affiliate of Houlihan-Parnes Realtors, has sold a White Plains office building to Baker Cos. for an undisclosed amount. Baker plans to relocate its corporate offices from Pleasantville, N.Y., to the new building, which is located at 1 W. Red Oak Lane. The Class A property contains 21,000 square feet of space and was 92 percent leased at the time of closing. It features a fitness center and a café.
HAMILTON TOWNSHIP, N.J. — Construction has commenced for the expansion and renovation of Hamilton Plaza, a 184,272-square-foot shopping center located at the intersection of Route 33 and White Horse-Hamilton Square Road in Hamilton Township. The $10 million project will include the expansion of the World Class ShopRite superstore, the addition of a 10,000-square-foot endcap, two new pad sites, and an updating to the center's signage, landscaping and façade. Levin Management Corp. is heading the Hamilton Plaza renovation as the center's exclusive leasing and managing agent.
WALTHAM, MASS. — Dassault Systèmes has signed a lease for 320,000 square feet of office space in Waltham for its new American corporate headquarters. The company will initially move into the 211,741-square-foot building at 175 Wyman St. and will later expand into its remaining leased space at 185 Wyman St. The move-in will occur in mid-2011. The company currently leases facilities in Concord and Lowell, Mass., which will be consolidated. Brendan Callahan and Alex Dauria of Jones Lang LaSalle represented Dassault in lease negotiations. The firm will also serve as project manager for the tenant build-out. Charles Batchelder of Wyman Street Advisors represented the landlord, Hobbs Brook Management.
STORRS, CONN. — Tuxedo, N.Y.-based LeylandAlliance has entered into a definitive agreement with Education Realty Trust (NYSE: EDR) to develop the first two phases of the Storrs Center mixed-use project. Located adjacent to the University of Connecticut in Storrs, the first two phases will contain 290 luxury apartments over 70,000 square feet of ground-floor retail and restaurant space. EDR will develop, own and manage the apartments, and LeylandAlliance will own and manage the retail component. At full build-out, Storrs Center will contain $220 million of residential, retail, restaurant and office space in a town center setting. Other features will include a network of pedestrian walkways, green spaces and consveration areas. The first two phases will be delivered in 2012 and 2013, respectively.
MONMOUTH JUNCTION, N.J. — Coca Cola Enterprises has signed a build-to-suit agreement for 225,000 square feet of distribution space in Monmouth Junction. The soft drink maker will be consolidating several of its locations into the new facility, which is located at 60 Dean's Rhode Hall Road. The distribution center will feature 20,000 square feet of office space and will be applying for LEED certification. Completion is expected in July 2011. Studley's Daniel Foley and Tom Carragher represented Coca Cola in negotiations. The developer and landlord for the project is Forsgate Industrial Partners.
WALTHAM, MASS. — HEI Hotels & Resorts has launched a $14 million renovation and repositioning project for the DoubleTree Guest Suites Boston/Waltham. Renovations to the eight-story, 275-room hotel will include the remodeling of all guestrooms, a redesign of the hotel's restaurant and lounge, enhancements to its 8,000 square feet of meeting space and a redesign of the entrance. In addition, HEI will switch flags within the Hilton family of hotels from DoubleTree to Embassy Suites. The construction timetable was not released.
LANCASTER, PA. — Kohl's is set to open its newest located at the end of the month at Mill Creek Square in Lancaster. The apparel retailer will anchor Phase I of the $40 million project. Additional Phase I retailers, which will open through October and November, will include Bed Bath & Beyond, Christmas Tree Shops, Ross Dress for Less, Shoe Carnival, Sally Beauty Supply and Hair Cuttery. Phase I is currently 90 percent leased. In addition, construction has commenced for Phase II of the project, with an anticipated completion of next summer. At full-build-out, Mill Creek Square will contain 288,132 square feet of retail space on 35 acres. Its developer is locally based High Real Estate Group. The project architect is Greenfield Architects, and the general contractor is High Construction Co., both of which are affiliates of High Real Estate.
NEW YORK CITY — REI plans to open its first retail located in New York City with the signing of a 39,000-square-foot lease at Manhattan's historic Puck Building. The outdoor retailer will occupy 14,000 square feet of ground-floor space and 25,000 square feet of below-grade space at the historic building, which is located at the corner of East Houston and LaFayette streets. The new store will be contained over three floors and will feature a full-service bike repair shop. Susan Kurland of CB Richard Elllis represented REI in the long-term deal. Lori Shabtai of Winick Realty represented the landlord, Kushner Cos. The store is REI's third planned for the Tri-State area. A location is East Hanover, N.J., is already open, and another one will open next month in Norwalk, Conn.
SLIPPERY ROCK, PA. — NorthMarq Capital has arranged $18.84 million in acquisition financing for Ivy Apartments, a 632-bed, 200-unit student housing community located in Slippery Rock. Constructed in 2008, the property is situated near Slippery Rock University. It was sold through the bankruptcy courts to the loan's borrower, Oculus Capital Group. Frank Relihan of NorthMarq's Washington, D.C., office secured the loan, which carries a 10-year term and a 30-year amortization schedule. The lender is Freddie Mac.
SHIPPENSBURG, PA. — Shippensburg University is partnering with Philadelphia-based Campus Apartments to develop new on-campus housing. The $63 million first phase of the project will add 900 beds in three new residence halls. Two of the dorms will be located on North Campus, and one of which will feature a 13,000-square-foot wellness center. The third building will be a live-learn community located on South campus that will provide housing as well as the new home for the school's Honors College. The projects will break ground in 2011 and plan to open in time for the fall 2012 semester. The development team for the project includes CUBE 3 Studio, Harkins Development Corp., Greenman-Pedersen and RBC Capital.