NEW LONDON, N.H. — Concord, N.H.-based North Branch Construction has been selected to provide construction management services for a new project at Colby Sawyer College in New London. The new Windy Hill School will be a 10,000-square-foot structure that will house the college's daycare, kindergarten and after-school programs for families in the community. The Windy Hill program is run by students and faculty of the college's Social Sciences & Education Program and is currently operated out of the lower levels of the Abbey and Burpee residence halls. Building amenities will include classrooms with built-in kitchens and computer work areas, seminar rooms, two “smart” classrooms for child development classes, an early childhood curriculum laboratory, a resource library and faculty offices. Completion is scheduled for spring 2010. The project architect is Lebanon, N.H.-based Banwel Architects.
NEWARK, N.J. — Diversified Capital has reached an agreement with Lane Capital in which Lane will take a minority ownership stake in Diversified's 24 Commerce Building, an 18-story, 180,000-square-foot office building located in Newark. As part of the agreement, Lane will provide long-term financing to help finish a multi-million renovation that is currently under way at the building. Current tenants at 24 Commerce include Newark Funding and Pediatric Dental Group. Several restaurants will be added as part of the building's repositioning.
GREAT NECK, N.Y. — St. Louis-based The Korte Company has completed construction for a new $13 million facility for the United States Postal Service in Great Neck. The 26,388-square-foot post office contains a 14,000-square-foot annex, a workroom, office support and administrative areas, break rooms, employee lockers, equipment rooms, mechanical mezzanines and storage areas. The facility also includes a two-story, 85-space parking garage. This most recent project marks the 39th project Korte has completed for the Postal Service nationwide.
BRIDGEVILLE, PA. — Pittsburgh-based Burns & Scalo Real Estate Services has begun construction for Bursca Frontgate I, a $2 million, multi-phase retail project located in Bridgeville. The project will be situated along Route 50 at the entrance to Bursca Business Park.The first phase of construction will consist of the renovation of an existing 8,000-square-foot building that will house New Dragon Express and Sudsy's Beer Distributor. A 3,000-square-foot space remains for lease. Completion is slated for May 2010. Phase II of construction will include the demolition of an existing building on the property and the construction of a new 6,000-square-foot retail building. Phase II completion is scheduled for December 2010.
NORWOOD, MASS. — Boston-based NAI Hunneman has completed the sale of a 19,260-square-foot flex property located in Norwood for approxiamtely $1.59 million. The office and warehouse building is situated on 3 acres at 31 Astor Ave. NAI's Cathy Minnerly represented the sellers, Dave and Bob Dillon of Atlantic Safety Products, and procured the buyer, JI Enterprise.
NEW YORK CITY — Builders Group has completed the mixed-use conversion of 15 East 26th Street, a 20-story, 97-year-old building located in the Flatiron District of Manhattan, New York City. The former office building now features 65 high-end apartments, 80,000 square feet of office space and SD26, a 15,000-square-foot Italian restaurant. The building was continuously occupied during the project, which posed a challenge on floors that were to be converted into residential space. The restaurant occupies the first three floors, the office space takes up floors four through seven and the apartments occupy floors eight and above.
PORTLAND, MAINE — MaineHealth, the parent company of Maine Medical Center, has purchased the former Anthem Insurance Building in Portland. The approximately 85,000-square-foot office building is located at 110 Free St. MaineHealth plans to relocate its headquarters, other related offices and conferencing facilities to the new property. As part of the transaction, the adjacent parking garage at 40 Free St. was transferred to Holiday Inn by the Bay, and the parking garage adjacent to Children's Museum of Maine on Free Street was transferred from Holiday Inn to MaineHealth. Tony McDonald, Drew Sigfridson and Dan Greenstein of CB Richard Ellis | The Boulos Company brokered the transaction.
PALMYRA, N.J. — Gebroe-Hammer Associates has arranged the sale of River Villas, a 44-unit apartment community located in Palmyra, for $3 million. The fully leased community is situated at 5019 Harbour Dr.; it comprises four buildings with all two-bedroom units. Amenities include a clubhouse, a swimming pool and tennis courts. Joseph Brecher and Joel Schwartz of Gebroe-Hammer represented the seller, Harbour View, and procured the undisclosed buyer.
READING, PA. — The grand opening has been held for Exeter Commons in Reading. The 490,000-square-foot shopping center is located at the intersection of Highway 422 and 47th Street. Anchors at the center include Target and Giant Foods. Other tenants include Affinity Bank, America's Best Contacts & Eyeglasses, Chick Fil-A, Famous Footwear, Five Below, Five Guys Burgers & Fries, GameStop, PETCO, Red Robin, Sleepy's, Sonic, Supercuts and T-Mobile. Three tenants will open soon, including Lowe's Home Improvement Warehouse, Staples and Wachovia. The $75 million project was developed by a joint venture between Blue Bell, Pa.-based The Goldenberg Group and Conshohocken, Pa.-based Ironwood Property Group. The center is currently 96 percent leased.
ALLENTOWN, PA. — A joint venture between Franklin Realty Development Corp. and Arcadia Properties has completed construction of Saucon Valley Plaza in Allentown. The Class A office building totals three stories and 87,000 square feet, and it is located at 3477 Corporate Pkwy. within Stabler Corporate Center. CB Richard Ellis is handling leasing for the project.