WOODCLIFF LAKE, N.J. — New York City-based Studley has completed two long-term leases for Eisai Medical Research (EMR) in Woodcliff Lake. EMR will be moving into a 118,000-square-foot office building located at 155 Tice Blvd. and an adjacent 41,000-square-foot building at 300 Tice Blvd. Studley’s Gregg Najarian, Daniel Foley and Chip Conklin represented EMR in lease negotiations. The landlord of 155 Tice, Hartz Mountain Industries, was represented in-house by Emanuel Stern, Gus Milano and Ernie Christoph. The landlord of 300 Tice, Mack-Cali, was represented in-house by Christopher DeLorenzo. With these most recent leases, Eisai Corporation of America, the parent company of EMR, has created a 369,000-square-foot headquarters campus on Tice Boulevard. Eisai Corp. and its commercial operation Eisai Inc. have occupied a 210,000-square-foot, build-to-suit office located at 100 Tice Blvd. for the past 2 years. The same Studley group of Najarian, Foley and Conklin represented Eisai in the original leases.
Northeast
BOSTON — BioMed Realty Trust has received the Gold level of LEED-Core & Shell certification for The Center for Life Science | Boston, the company’s approximately 700,000-square-foot research center located in Boston. The campus contains laboratory and office space situated in the heart of the city’s Longwood Medical Area. The center is currently 91 percent leased to Beth Israel Deaconess Medical Center, Children’s Hospital Boston, Dana Farber Cancer Institute, Immune Disease Institute and Kowa Company Ltd. BioMed Realty Trust now has more than 1.2 million square feet of LEED-certified research space in the Boston and Cambridge, Mass., markets.
NEW YORK CITY — The Community Preservation Corp. (CPC) and the New York City Department of Housing Preservation & Development (HPD) have provided $442,000 in funding for a vacant, three-story residential building located in the East Tremont neighborhood of the Bronx, New York City. Situated at 1688 Webster Ave., the property was recently renovated as part of the HPD’s Neighborhood Homes Program, which transfers city-owned properties to sponsors for rehabilitation and sale to new owners who live in a single unit and rent out the other units at an affordable rate. For this project, Bronx Shepherds Restoration Corp. renovated the property and sold it to 1688 Webster Realty LLC. Jeffrey Brown, the principal of 1688 Webster Realty LLC, will occupy one of the units on the top two floors and will rent out the remaining units. The building’s ground-floor commercial space will be leased to Joshua & Caleb Ministries. CPC provided a $320,949 permanent loan and HPD provided $126,667 in grant financing for the project.
WOODCLIFF LAKE, N.J. — Studley has negotiated two long-term leases totaling 160,000 square feet on behalf of Eisai Medical Research (EMR) in Woodcliff Lake. EMR will move its operation from a 210,000-square-foot build-to-suit at 100 Tice Blvd. to a 118,000-square-square-foot building at 155 Tice Blvd. and 41,000 square feet at 300 Tice Blvd. Gregg Najarian, Daniel Foley and Chip Conklin of Studley represented EMR in both transactions. Hartz Mountain Industries, landlord of 155 Tice Blvd., was represented by Emanuel Stern, Gus Milano and Ernie Christoph. The landlord of 300 Tice Blvd., Mack-Cali, was represented by Christopher DeLorenzo.
DANVERS, MASS. — Construction is nearing completion on two new residence halls at Lesley University in Danvers. The two facilities, which are located at the corner of Massachusetts Avenue and Wendell Street, are slated to house a total of 98 residential students. One building is a five-story residence hall with retail space on the front of the first floor. The second building is a three-story wood frame residence hall. The residences are being constructed by William A. Berry & and Son, Inc. Construction is slated for completion in August.
PHILADELPHIA — Marc Mandel of Fameco Real Estate has represented Wingstop in two of its first leases in the Philadelphia area. The retailer plans to expand across the region with an initial focus in urban locations. The first restaurant recently opened and is located at the intersection of Broad Street and Cecil B. Moore on Temple University’s campus. The second unit, set to open this summer, is located on Roosevelt Boulevard at Red Lion Road in the northeast section of Philadelphia. Plans for a third restaurant are underway.
NEW YORK CITY — Sholom & Zukerbrot has negotiated two 5-year leases in Long Island City on behalf of DeAngelis, Ltd., a high-end upholsterer, and TouchStone Direct, LLC, a fast-growing digital printing firm. Both firms relocated from Manhattan to 21-09 Borden Avenue in the Long Island City section of Queens in New York City. DeAngelis, leased 27,000 square feet on the sixth floor of the seven-story property, and TouchStone Direct signed for 16,000 square feet on the second floor. Natalie Hurwitz of Sholom & Zukerbrot is the exclusive agent for the Borden Avenue property, a 170,000-square-foot loft building. Owned by 21-09 Borden Avenue Corp., the building features two freight and two passenger elevators, and four loading docks. It is centrally located and offers easy access to the #7 subway line, the Brooklyn-Queens Expressway and the Long Island Expressway.
PALISADES PARK, N.J. — New York City-based Phoenix Realty Group has acquired 71 residential condominium units located within The Trio, a high-rise residential project in Palisades Park, for $18 million. The units consist of one- and two-bedroom residences that range in size from 742 to 1,751 square feet. They represent the remaining unsold units in the project. Phoenix acquired the units, as well as the reserved parking spaces for them, on behalf of its Metropolitan Workforce Housing Fund and plans to offer them for lease. The Trio comprises two adjacent nine-story towers containing 140 condos, as well as a 200-space parking structure. Building amenities include doormen, fitness center, meeting rooms and a media center.
NEW YORK CITY — New York City-based Massey Knakal has completed two Manhattan, New York City, multifamily sales. In Chelsea, the firm was the sole broker in the $7.26 million sale of two, five-story, walk-up apartment buildings located at 217-219 W. 16th St. The buildings contain 39 one-bedroom units and one commercial unit. Four of the apartments are market rate and the rest are rent stabilized. Massey Knakal’s Brock Emmetsberger and Paul Massey handled the transaction. On the Upper East Side, Massey Knakal’s Tom Gammino represented the seller in the $2.75 million disposition of a three-story, vacant brownstone building located at 1624 York Ave. The building totals 3,060 square feet with an additional 9,435 square feet of air rights. Gammino was the sole broker in the transaction. Both parties in both transactions were undisclosed.
WHITEHALL TOWNSHIP, PA. — Allentown, Pa.-based Summit Management & Realty has negotiated the leasing of 40,000 square feet of warehouse space within Riverside Business Center, located in Whitehall Township. Bell Nursery, a wholesale production nursery based in Maryland, will occupy the space. The new location allows the nursery to be the exclusive provider of plans for The Home Depot’s Pennsylvania and New Jersey stores. Tyler Chomik of Summit represented the landlord, Washington, D.C.-based Cafritz Interests. Riverside Business Center, formerly a manufacturing facility for Tarkett, was acquired by Cafritz and redeveloped for multi-tenant use. There are currently 130,000 square feet of warehouse and office space remaining for lease.