BLOOMFIELD, N.J. —Zeytinia Fresh Made has opened at the BroadAcres office park, located in Bloomfield. The restaurant will occupy 1,727 square feet of space on the ground floor of 200 Broadacres Dr. It will feature dining inside and outside on an adjacent patio, as well as catering for tenants of the office park. BroadAcres is a 20-acre office park situated near the Garden State Parkway. It comprises 360,000 square feet of Class A office space in a park-like setting. It is owned by Prism Capital Partners.
BURLINGTON, MASS. — New Boston Fund has completed the sale of 51 South Bedford St., a 100,000-square-foot telecom facility in Burlington. The building was sold for an undisclosed price to H.N. Gorin, Inc. The building, which is fully leased to long-term tenant Verizon Communications, is located directly off Route 128 and is adjacent to the Burlington Mall. Peter Joseph at Eastdil Secured represented New Boston in the transaction and procured the buyer.
WALINGFORD AND WATERBURY, CONN. — Fantini & Gorga has assisted Eastern Bank in arranging $6 million in acquisition financing for two self-storage facilities in Wallingford and Waterbury. The Wallingford facility contains 54,075 rentable square feet and 490 units in two buildings, along with several outdoor parking spaces. The Waterbury property, set on 4.97 acres, encompasses 54,875 square feet and 546 rental units within two buildings. The loan was arranged on behalf of Tarco Properties, which plans to convert the facilities from the Lock Tight brand to its flag, Value Store-It. Fantini & Gorga and Eastern Bank collaborated on the loan package.
NEW YORK CITY — NAI Global New York City has negotiated a 7-year office lease on behalf of Guidepoint Global, a leading primary research firm who provides customized information solutions in the healthcare, technology, media, telecommunications, energy, industrials, consumer goods and services, and financial services sectors. The tenant is taking 30,671 square feet of space on the 11th floor 730 Third Ave. in Manhattan, New York City. The tenant’s recent acquisition of S&Ps Vista Research division necessitated a move to larger premises. Andrew Simon and Logan Gurtman of NAI Global New York City represented the tenant, and Howard Fiddle of CBRE represented the building’s owner, TIAA-CREF.
PHILADELPHIA, WAYNE AND HORSHAM, PA. — Jim Egan and Jeff Tertel of Grubb & Ellis’ Philadelphia office have completed the sale of a 4,000-square-foot retail building at 7145 Frankford Ave. in Philadelphia. Police and Fire Federal Credit Union purchased the facility from Bio-Medical Applications of Pennsylvania for an undisclosed price. Also in Philadelphia, Nobel Learning Communities renewed its lease for 12,429 square feet of office space located at 510 Walnut St. Egan and Tertel represented the lessee in the transaction. The space was leased from Broadway Penn Mutual Office Fee LP. In Wayne, Jim Dugan and John Perkins of Grubb & Ellis’ King of Prussia office and Craig Scheuerle, Jack Soloff and Matt Guerrieri of Grubb & Ellis’ Philadelphia office represented Essent US Holdings Inc. in lease negotiations at 201 King of Prussia Rd. The lessee leased 15,759 square feet of office space from Brandywine Realty Trust. In addition, Matt Devine of Grubb & Ellis’ King of Prussia office represented the Mentholatum Company in a lease extension in Horsham. The tenant extended its lease of 12,786 square feet of office space at 111 Rock Road in Horsham. The property was leased from Liberty Property Trust.
WEST NEW YORK, N.J. — The Kislak Company has completed the sale of two apartment buildings comprising 49 units in West New York. The sales included a 25-unit property located at 401 53rd St. for $2.19 million and a 24-unit property located at 5111 Palisade Ave. for $2.25 million. Don Baxter and Jonathan Greenberg of Kislak represented both parties in the transactions. The buyer of each property intends to renovate the units and increase value. At the time of closing, both properties were 100 percent occupied. In each transaction, the buyer’s financing was arranged by Elliot Treitel of Meridian Capital. Feinstein, Raiss, Kelin & Booker, LLC also represented the buyer in each transaction.
PATERSON, N.J. — CB Richard Ellis' Private Client Group has brokered the $1.75 million sale of a 25,000-square-foot mixed-use facility in Paterson. The facility, which is located at 33-43 Park Ave., contains four retail units and seven residential apartments, as well as a basement and a rear parking lot. The building, which is now 100 percent occupied, is scheduled to undergo renovations to the façade, parking lot and the formerly vacant supermarket, which is the largest of the four retail units. Dean Marchi and Charles Berger of CB Richard Ellis represented the seller, a trustee acting on behalf of the lender, in the transaction. Stephen D'Amato, also of CB Richard Ellis, represented the buyer in the leasing component of this transaction.
LOGAN TOWNSHIP, N.J. — Steve Dobraniecki of NAI Emory Hill recently negotiates a 10-year, 20,000-square-foot lease on behalf of Brand Energy and Infrastructure, an international multicraft service company focused in the power, refinery and large commercial industry. The space is located at 740 Veterans Dr. in Logan Township. Scott Mertz at NAI Mertz Corp. co-brokered the deal with Dobraniecki.
NEW YORK CITY — W&H Properties has recently completed the repositioning of 60 East 42nd Street to One Grand Central Place. The building not only changed names, but underwent an $85 million upgrade program. The renovation included new windows, renovated elevators, renovated air-conditioned public corridors and restrooms, and upgraded building-wide systems. The building also features a visitor center, a tenant conference center, a messenger center and a law library. The 55-story tower includes tenants such as ABS and Gibbs & Soell. The facility offers direct in-building access to Grand Central Terminal, as well as to the 4, 5, 6, 7 and Times Square shuttle subway lines. One Grand Central Place is owned by a partnership led by Peter L. Malkin and Anthony E. Malkin. Available space at One Grand Central Place ranges from partial floors of 1,200 to 8,000 square feet to full floors of 9,500 to 47,589 square feet. Newmark Knight Frank is the exclusive managing and leasing agent for the property.
RARITAN, N.J. — A multi-phase renovation is under way for Somerville Circle Shopping Center, a 157,000-square-foot retail center located in Raritan. Construction will primarily consist of a new façade for the entire center and an upgraded highway pylon sign. In addition, ownership has received approval for the construction of a 6,000-square-foot pad building facing Route 28. The shopping center will remain open during renovations. Somerville Circle is currently 100 percent leased to a tenant roster that includes Five Below, Panera Bread, Staples, Petco, Toys “R” Us, P.C. Richards & Sons, Burger King and PNC Bank. Levin Management Corp. is the leasing and management agent for the property.