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.
BREINIGSVILLE , PA. — St. Augustine, Fla.-based Tree of Life has signed a lease for 311,928 square feet of distribution space in Breinigsville. The natural and organic foods distributor will occupy space within a 604,000-square-foot facility that is located at 860 Nestle Way within Lehigh Valley West Industrial Park. The building is cross docked and features 32-foot clear ceiling heights and trailer storage space. Kim Meincke, Brian Knowles and John Van Buskirk of Jones Lang LaSalle represented Tree of Life in lease negotiations. The landlord, Liberty Property Trust, was represented by Colliers Lanard & Axilbund. Terms of the lease were not disclosed.
PARSIPPANY, N.J. — Law firm Day Pitney has signed a long-term lease for a 100,000-square-foot, Class A office building located in Parsippany. The firm is relocating to the building, which is located at 1 Jefferson Rd. within The Center of Morris County business park, from its previous offices at 200 Campus Dr. in Floram Park, N.J. The landlord, a joint venture between J.P. Morgan Asset Management, The Hampshire Generation Fund and Mack-Cali Realty Corp., was represented by James Nugent of Mack-Cali in lease negotiations. Mack-Cali also handles leasing and management of the building. Thomas Welsh of Welsh Chester Galiney Matone Inc. represented the tenant.