PARSIPPANY AND PRINCETON, N.J. — Cushman & Wakefield (C&W) has brokered headquarters leases for two companies in New Jersey for a total of 178,000 square feet. In the first deal, Solix Inc. signed a new lease for the entire 56,000-square-foot office building located at 30 Lanidex Plaza in Parsippany. The tenant will be consolidating its two operations located in Whippany, N.J., into the new location. The team of Peter Hamburger, Robert Rudin, Walter Schoenberg, Harlan Hollander and Jan Randall from C&W's East Rutherford, N.J., office represented the tenant in lease negotiations. Susan Mason of Jones Lang LaSalle represented the landlord, Ivy Equities. In the second deal, PharmaNet Development Group renewed its lease for the entire 122,000-square-foot office building located at 504 Carnegie Center in Princeton. Schoenberg, along with Jeff Barker and Kim Finnerty of Cushman & Wakefield's Philadelphia office, represented the tenant in lease negotiations. The landlord is Boston Properties.
MIDDLETOWN, CONN. — NorthMarq Capital has secured $3.3 million first-mortgage construction/permanent financing for a new 14,820-square-foot Walgreens located at the intersection of Main Street Extension and Saybrook Road in Middletown. The financing includes a 12-month construction loan followed by a 6-year permanent loan with a 30-year amortization schedule. Ernest DesRochers and Deanna Polizzo of NorthMarq's New York Metro Regional office arranged the loan on behalf of the borrower, Sound Middleton LLC. The lender was an undisclosed regional bank.
PORT WASHINGTON, N.Y. — The grand opening has been held for Pall Corp.'s new corporate headquarters located in Port Washington. The new 276,000-square-foot facility is situated at 25 Harbor Park Dr. Designed by Spector Group, the building can house more than 500 employees and features state-of-the-art research and customer support laboratories, as well as offices for corporate management, sales and marketing. The new facility will consolidate Pall Corp.'s laboratory and administrative operations, which were previously split between Port Washington and East Hills, N.Y. The project utilized a variety of sustainable features, including construction recycling and numerous energy-efficient building systems. Financial assistance for the project was provided by the Nassau County Industrial Development Agency.
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.