Northeast

COMPLETION NEARING FOR COLUMBUS SQUARE

by admin May 19, 2009

NEW YORK CITY — Two of the five buildings that make up Columbus Square, a high-rise mixed-use project located on the Upper West Side of Manhattan, New York City, are scheduled for completion next month. The two buildings include the 15-story 801 Amsterdam Avenue tower and the 29-story 808 Columbus Avenue tower. The other three buildings, 775, 795 and 805 Columbus Avenue, will be delivered throughout the rest of the year. All five buildings will feature green rooftops, including a 2-acre rooftop park at 808 Columbus Avenue. Sustainable features include the use of solar panels, energy-efficient lighting and HVAC systems, recycled construction materials and recycling facilities in the buildings. Upon completion, Columbus Square will contain 710 rental residential units and 300,000 square feet of retail space. The apartments will range from studios to four-bedroom penthouses. Retail tenants already announced include Whole Foods Market, Michaels, Modell’s Sporting Goods, Border’s Books & Music, TJ Maxx, Crumbs Bakery, Chase and Bank of America. SLCE Architects designed 801 Amsterdam Avenue, with Costas Kondylis & Partners serving as project architect for the other five buildings. The project is being developed by the Chetrit Group and Stellar Management.

May 19, 2009

STANBERY TO OPEN TWO NEW RETAIL CENTERS THIS YEAR

by admin May 19, 2009

HAMILTON AND GLOUCESTER TOWNSHIP, N.J. — Columbus, Ohio-based Stanbery Development is wrapping up construction for two New Jersey shopping centers. This month will mark the grand opening of The Shoppes at Hamilton, a 155,000-square-foot center located along Route 130 in Hamilton. In August, Stanbery will open The Shoppes at Cross Keys, a 121,087-square-foot center located at the intersection of Berlin-Cross Keys Road and the Atlantic City Expressway. Both shopping centers will feature locations from Ann Taylor Loft, Anytime Fitness, Banana Republic, Bensi Restaurant Italiano, Chico’s, Coldwater Creek, Gallery Direct, Jos. A. Bank, Justice – Just For Girls, Lane Bryant, New York & Co., Rack Room Shoes, Sleep Number, Spa San Marco and White House|Black Market. Once both properties are open, Stanbery will own six shopping centers in New Jersey.

May 19, 2009

Northeast Retail

CRONHEIM MORTGAGE ARRANGES $15 MILLION RETAIL LOAN

by admin May 19, 2009

HAWTHORNE, N.J. — Chatham, N.J.-based David Cronheim Mortgage Corp. has arranged $15 million in permanent financing for Hawthorne Discount Plaza, a retail property located in Hawthorne. The center comprises 110,285 square feet and is situated on 7.7 acres at 111 Wagarow Rd. It is anchored by Value Village; additional tenants include CVS/pharmacy, Dollar Tree, Ace Hardware, Payless Shoesource and Mandee’s. The loan carries a 10-year term and a 30-year amortization schedule. It was arranged by Cronheim’s Anna McGivaren and Andrew Stewart on behalf of the undisclosed borrower. The lender was also not released.

May 19, 2009

Northeast Office

MACK-CALI LEASES 93,376 SQUARE FEET OF OFFICE SPACE TO VIRGIN MOBILE

by admin May 19, 2009

WARREN, N.J. — Edison, N.J.-based Mack-Cali Realty Corp. has leased 93,376 square feet of office space within Somerset Hills Corporate Center, to Virgin Mobile USA. The wireless equipment and services provider will occupy the space, which is located at 10 Independence Blvd., for a 5-year term ending in 2016. The company currently occupies subleased space within the building, which contains 120,528 square feet of Class A office space. Occupancy is 100 percent.

May 19, 2009

Northeast Retail

DAVE’S MARKETPLACE OPENS AT THE GATEWAY AT QUONSET

by admin May 19, 2009

NORTH KINGSTOWN, R.I. — Grocer Dave’s Marketplace has held its grand opening at The Gateway at Quonset, a 72.5-acre mixed-use project located in North Kingstown. The locally based company will occupy approximately 25,000 square feet within the center. The opening of Dave’s Marketplace follows the recent openings of Lowe’s Home Improvement Warehouse, which opened at The Gateway at Quonset in January, as well as Kohl’s, which opened in October 2008. The Gateway at Quonset is a $144 million project that is being developed by New Boston Fund. It is situated at the entrance to Quonset Business Park and features an open-air retail center, restaurants, office space and a hotel.

May 19, 2009

Multifamily Northeast

SEVEN UNITS AT OCEANIA SOLD BY AUCTION FOR $4.5 MILLION

by admin May 18, 2009

HULL, MASS. — Flynn / Boston Realty Advisors has arranged the sale by auction of seven residential condominium units at Oceania, a newly constructed condo property located in Hull, for a combined $4.5 million. Oceania contains 16 units in a mix of two- and three-bedroom units. Many of the units include offices/dens, as well as large balconies overlooking Cape Cod Bay and the Boston skyline. Winning bids ranged from $530,000 for a 2,882-square-foot unit to $875,000 for a 2,798-square-foot penthouse unit that features its own roof deck. These units were originally priced at $1.22 million and $1.42 million, respectively. Oceania is owned by Weymouth, Mass.-based Seven Hills LLC.

May 18, 2009

Northeast Retail

MARCUS & MILLICHAP BROKERS $11.55 MILLION HOME DEPOT SALE

by admin May 18, 2009

BRIDGEWATER, MASS. — Marcus & Millichap has brokered the sale of a Home Depot located in Bridgewater for $11.55 million. The retail center is situated on approximately 27 acres at 1453 Pleasant St. In addition to the home improvement warehouse, the location also features a 28,098-square-foot Garden Center. Home Depot opened at the location in February. It occupies the site on a 30-year, absolute triple-net ground lease. Terms of it include no landlord responsibilities, a $75,000 rental increase beginning in year 26, and eight 5-year options with a 10 percent rental increase in each option. Glen Kunofsky and Russell Wachtler of Marcus & Millichap’s Manhattan, New York City, office, along with Todd Tremblay of the firm’s Boston office, represented the seller. Sharon Bonds, also of Marcus & Millichap’s Manhattan office, represented the buyer. Both parties were undisclosed.

May 18, 2009

Northeast Office

R. CALABRESE COMPLETES OFFICE SALE FOR FUTURE MEDICAL PRACTICE

by admin May 18, 2009

SOUTHINGTON, CONN. — R. Calabrese Agency (RCA) has completed the sale of a 10,400-square-foot office building, located at 1850 West St. in Southington. Initial plans are for the building to be occupied by Dr. Nicole Porzio-Hawley and her husband Dr. Andrew Hawley, who are opening a new chiropractic and sports medicine practice this summer named Porzio & Hawley Chiropractic. Ralph Calabrese of RCA represented the buyer, Dr. Robert Porzio. The seller, EZ Enterprises, was represented by Frank Mirmina of Lil-1 Associates. The acquisition price was not disclosed.

May 18, 2009

Northeast Office

NAI BLUESTONE ARRANGES $4 MILLION LOAN FOR OFFICE PROJECT

by admin May 18, 2009

PHILADELPHIA — Philadelphia-based NAI Bluestone Real Estate Capital has arranged $4 million in construction-to-permanent financing for a portion of Logan Plaza, an office park located in Philadelphia’s Logan/Olney neighborhood. The borrower, OYR Realty Group, plans to use the funds to complete capital improvements at one of the office park’s buildings. The building is vacant, but a lease was recently signed with the Department of Public Welfare for approximately 66 percent of the space. The loan will start with a floating interest rate, but convert to a fixed loan with a 70 percent loan-to-value ratio upon completion. The lender is Beneficial Savings Bank. Logan Plaza is a six-building, 340,000-square-foot office campus. OYR Realty Group is a joint venture between Visionary Cos. and Thylan Associates.

May 18, 2009

Northeast Office

CONSTRUCTION NEARS COMPLETION FOR NEW HEADQUARTERS BUILDING

by admin May 15, 2009

TOWAMENCIN, PA. — Construction is nearing completion on SKF’s new U.S. world headquarters building located at Forty Foot Road and Tomlinson Road in Towamencin. Designed by Thomas E. Hall & Associates (TEH) and developed and constructed by Philadelphia Suburban Development Corp., the three-story, 84,000-square-foot building will feature patterned-brick, glass, and cantilevered columnless glass corners. TEH also renovated the core and shell of an existing 35,000-square-foot attached warehouse building, which will retain its existing pre-cast concrete wall panels and will feature new windows and brick facing to match the new building. The project, located within the Towamencin Business Center, is expected to be complete this month.

May 15, 2009

Newer Posts

Older Posts