GILBERTSVILLE, PA. — The grand opening has been held for Douglass Town Center, a 90,000-square-foot shopping center located in Gilbertsville. A 70,000-square-foot Giant Food anchors the center, which was developed by Moorestown, N.J.-based Retail Sites. Other tenants include AT&T Wireless, Chinese Restaurant, Custom Cleaners, GameStop, Hair Cuttery and Hallmark. One shop space and one outparcel remain for lease.
NEW YORK CITY — New York Liquidation Bureau (NYLB) has signed a new lease for 116,540 square feet of office space in the Financial District of Downtown Manhattan. The tenant will occupy floors 15 through 17 and part of the 18th floor of 110 William Street, a 32-story, 900,000-foot office building. Peter Hennessey and Scott Cahaly of Jones Lang LaSalle represented the tenant in lease negotiations. Todd Korren of Swig Equities represented the undisclosed landlord. The lease brings the building's occupancy to 98 percent.
DANBURY, CONN. — Electronics retailer P.C. Richard & Son will open a new location in Danbury at 80 Danbury Road. A.J. Richard & Sons Inc. acquired a leasehold interest in the property, which was formerly occupied by Border's and Circuit City. An adjoining space controlled by Sleepy's Bedding Co. will also be incorporated into the new P.C. Richard store. Steven Spector of Interstate Realty Advisors and Bruce Wettenstein of Vidal/Wettenstein arranged the transaction. In addition, the brokers arranged a similar transaction in Milford, Conn., for a new P.C. Richard location.
YONKERS, N.Y. — An affiliate of Mile Square Transportation has acquired an industrial property in Yonkers from Precision Valve Corp. for $10.75 million. Located on more than 8 acres at 700 Nepperhan Ave., the industrial building has served as the corporate headquarters for Precision since 1952, but the company recently relocated to South Carolina. William Cuddy, Jr., and Kevin Langtry of CB Richard Ellis' Westchester, N.Y., office represented Precision in the sale. Bernard Stachel of Tamerlain Realty Corp. represented the buyer.
NEW YORK CITY — Meridian Capital Group has secured a $31 million loan for the refinancing of a portfolio for retail and office properties that are located in the New York City boroughs of Manhattan and Queens. Cary Pollack of Meridian originated the loan, which carries a 6 percent fixed interest rate, a 5-year term and a 30-year amortization schedule. The borrower was Pi Capital Partners and the lender was a local savings bank.
NEW YORK CITY — Construction is complete for 580 Carroll by Enrique Norton, a five-story, 17-unit residential condominium building located in Brooklyn's Park Slope neighborhood. The condos are a mix of one-, two- and three-bedroom units that range from 744 to 1,400 square feet in size. Prices start at $540,000. Amenities at 580 Carroll include a private 3,500-square-foot garden and an onsite parking garage. Black House Development Co. was the developer for the project and Enrique Norton's TENARQUITECTOS was the project architect. Brown Harris Stevens SELECT is serving as leasing and marketing agent.
MANCHESTER, N.H. — Construction has topped out for a 258,000-square-foot urgent care center in Manchester. The project, which can be expanded to 376,500 square feet, is being constructed for Elliot Hospital. It is part of The Elliot at River's Edge, an approximately 500,000-square-foot mixed-use project that is being developed as a public-private partnership led by locally based Anagnost Cos. At full build out, The Elliot at River's Edge will contain the urgent care center, a 126,000-square-foot medical office building, a 24-unit apartment building, an 11,300-square-foot retail building, two parking garages and a riverfront park.
NEW YORK CITY — Meltzer/Mandl has been selected to design an affordable housing project in the Hunts Point neighborhood of the Bronx. The eight-story building will be located at 920 Westchester Ave. It will contain 108 two- and three-bedroom apartments, 11,000 square feet of ground-floor retail space, a small medical/ambulatory space and a below-grade parking garage. The project will also be applying for LEED certification. Construction is expected to begin later this year and be complete by 2012. Westrock Development is the developer.
NEW YORK CITY — Eastern Consolidated has brokered the sale of two elevator-served apartment buildings located in Manhattan's East Village neighborhood for $10.15 million. The six-story buildings are located at 409 and 411-413 W. Sixth St. They contain a total of 48 units, which comprise 17 free-market units, 29 rent-stabilized units and two rent-controlled units. The properties had been recently renovated. Ronda Rogovin and Inbal Himelblau, both of Eastern Consolidated, represented the seller, 409-411 Sixth Street LLC, and the buyer, July 15 Real Estate LLC.
NEW YORK CITY — Sioni & Partners has completed the sale of a six-story, elevator-served apartment building in the Bronx for $3.75 million. The property is located at 1860 Billingsley Terrace. It contains 58 residences in a mix of one-, two- and three-bedrooms. Moses Sioni of Sioni & Partners brokered the deal between the seller, Terrace Arms Corp., and the buyer, The Morgan Group. The property traded for an 8 percent capitalization rate.