Northeast

U.S. ARMY LEASES SPACE AT ATRIA EAST

by admin June 3, 2009

GARDEN CITY, N.Y. — The Treeline Companies has completed a lease with the U.S. Army corps of engineers for 12,805 square feet of space at Atria East. The six-story, 207,000-square-foot office building is located at 990 Stewart Ave. in Garden City. The new tenant will use the space for administrative and recruitment purposes, among other functions. Atria East is located near the Meadowbrook State Parkway and just minutes from the Long Island Expressway. The concrete and steel building features four high-capacity elevators, a cafeteria, a bi-level underground parking garage and street level parking accommodating nearly 750 vehicles, as well as ample loading facilities on the main level. The building was designed by architect Michael Harris Spector.

June 3, 2009

MANDELL SCHOOL TO CONSTRUCT NEW FACILITY IN COLUMBUS SQUARE

by admin June 3, 2009

NEW YORK CITY – Plans are underway for a new Mandell School at 795 Columbus Ave. in Manhattan, New York City. 795 Columbus Avenue is a 15-story apartment building that is part of Columbus Square, a retail and residential community currently under development between 97th and 100th Streets. The entire project is slated to feature more than 320,000 square feet and is being developed by the Chetrit Group. Aragon Construction and JRS Architect have been tapped to lead the 50,000-square-foot build-out, which will comprise the building’s entire second floor and half of both the first floor and cellar. Numerous sustainable materials are being utilized in construction and in the long term Mandell School hopes to be LEED certified. For instance, the school will have rubber flooring, which is comprised of tire rubber and other recycled waste materials. Also, all classrooms will have high-efficiency lighting, using digital photo sensors and dimmers that comply with the Daylight Harvesting requirement. As well as renovating the cellar, first and second floors, Aragon will be building out an 8,000-square-foot outdoor terrace.

June 3, 2009

Northeast Retail

DAVID CRONHEIM MORTGAGE ARRANGES $15 MILLION IN FINANCING

by admin June 3, 2009

HAWTHORNE, N.J. – Anna McGivaren and Andrew Stewart of David Cronheim Mortgage have arranged $15 million in permanent financing for Hawthorne Discount Plaza, a retail center located at 111 Wagaraw Rd. in Hawthorne. Hawthorne Discount Plaza is set on 7.7 acres and consists of a 110,285-square-foot retail center anchored by Value Village. Other notable tenants include CVS, Dollar Tree, Ace Hardware, Payless Shoe Source and Mandee's. The loan has a 10-year term and a 30-year amortization.

June 3, 2009

Civic Northeast

NANTUCKET AIRPORT EXPANSION COMPLETE

by admin June 2, 2009

NANTUCKET, MASS. — Construction is complete for the $29 million expansion and renovation of Nantucket Memorial Airport, located in Nantucket. The project included a 23,000-square-foot expansion of the terminal, including a 6,000-square-foot basement addition and 6,300 square feet of airline office space. New elevator and baggage handling systems were installed, and new gift shop and car rental areas were built. Renovations included the refurbishing of the airport’s windows, roofing, trim and siding. The project also had a number of sustainable measures. The building had a geothermal HVAC system installed, in addition to tankless water heaters and low-flow bathroom fixtures. All of the building’s flooring and roofing, as well as half of the wall surfaces, was reused in the renovation. The construction manager for the airport project was Skanska USA Building, with design services provided by AECOM, formerly Earth Tech Architecture.

June 2, 2009

Hospitality Northeast

CBRE CAPITAL MARKETS ARRANGES REFINANCING FOR HOTEL CONSTRUCTION LOAN

by admin June 2, 2009

BOSTON — CB Richard Ellis Capital Markets (CBRE) has arranged $13.91 million in debt and equity to refinance the construction loan for the Holiday Inn Express Hotel & Suites Boston – Downtown, located at 280 Friend St. in Boston’s North End. The borrower originally purchased the property, a five-story, 54,000-square-foot boutique hotel, in 2007 and undertook a $6 million renovation that included its re-branding as a Holiday Inn Express. The property contains 72 rooms as well as 6,000 square feet of ground-floor retail space. The financing included an $11 million, fixed-rate first mortgage and $2.91 million in preferred equity. The mortgage carries a 5-year term with a 25-year amortization schedule and a 4 percent interest rate. Keith Braddish and Jason Gaccione of CBRE’s New York City office, along with Michael Prakken of the firm’s Boston office, arranged the financing. Braddish and Gaccione also originated the original construction loan 18 months prior.

June 2, 2009

Northeast Retail

PATTERSON-WOODS ARRANGED LEASE FOR SPORTS TRAINING FACILITY

by admin June 2, 2009

NEW CASTLE, DEL. — Patterson-Woods Commercial Properties/CORFAC International has arranged a lease for a 10,800-square-foot warehouse, located at 4060 N. DuPont Highway in New Castle. The building will be occupied by Thunder Stix Baseball & Softball Academy, which plans to operate it as a baseball and softball training facility. It will feature four automated batting cages and four training tunnels. Greg Ellis of Patterson-Woods represented the tenant in lease negotiations. Paul Bryant and Tripp Way of Emory Hill Real Estate Services represented the undisclosed landlord.

June 2, 2009

Northeast Office

CBRE NEW ENGLAND NEGOTIATES 11,000-SQUARE-FOOT OFFICE LEASE

by admin June 2, 2009

PORTSMOUTH, N.H. — CB Richard Ellis – New England (CBRE) has negotiated a lease for 11,000 square feet of office space at 282 Corporate Dr. in Portsmouth. The space will be occupied by Elbry’s Networks, Inc. Kent White of CBRE’s Portsmouth office represented the undisclosed landlord and procured the tenant in the transaction. Terms of the lease were not disclosed.

June 2, 2009

Industrial Northeast

STUBBLEDINE COMPLETES SALE OF 152,000-SQUARE-FOOT MANUFACTURING BUILDING

by admin June 1, 2009

LEOMINSTER, MASS. — The Stubbledine Company/CORFAC International has completed the sale of a 152,000-square-foot industrial building, located at 163 Pioneer Dr. in Leominster. The building is a single-story, rail-served manufacturing facility that is situated on 13.3 acres. It is fully leased to three tenants. The Stubbledine Company represented the buyer, Framingham, Mass.-based AIS Development, as well as the seller, AP Realty. The acquisition price was not disclosed.

June 1, 2009

Northeast Restaurant

JARMEL KIZEL COMPLETING WORK FOR NEW T.G.I. FRIDAY’S

by admin June 1, 2009

NEW YORK CITY — Livingston, N.J.-based Jarmel Kizel Architects & Engineers is completing design and structural engineering work for a new 7,300-square-foot T.G.I. Friday’s restaurant, located at 1780 Gun Hill Rd. in the Bronx, New York City. The restaurant will be able to seat 330 and completion is scheduled for this month. Jarmel Kizel is working with the franchise owner, Livingston-based Briad Group, as well Vornado Realty Trust, the owner of the shopping center in which the new restaurant will be located. T.G.I. Friday’s will be occupying a pad site. Jarmel Kizel has worked with Briad Group on 20 Friday’s locations in New Jersey, New York, Connecticut, California and Arizona.

June 1, 2009

Northeast Office

PARSONS COMMERCIAL GROUP BROKERS 15,000-SQUARE-FOOT LEASE

by admin June 1, 2009

EASTON, MASS. — Framingham, Mass.-based Parsons Commercial Group has brokered a lease for 15,000 square feet of turn-key space at Easton Industrial Park, located in Easton. Vestcom New Century, a provider of retail marketing and business communications services, will occupy space within 5 Norfolk Avenue, a single-story, 20,000-square-foot flex building. Parsons Commercial Group represented the tenant in lease negotiations. The landlord is Atlantic Management Corp. The lease represented an expansion for Vestcom New Century.

June 1, 2009

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