HARTFORD, CONN. — S.H. Smith & Co. has signed a lease for 21,000 square feet at 20 Church Street, a Class A office building located in downtown Hartford. The insurance broker will relocate its company headquarters to the new office from its previous location in West Hartford. John McCormick, Patrick Mulready and Alexis Augsberger of CB Richard Ellis represented the landlord, Morristown, N.J.-based The Hampshire Companies, in lease negotiations. Hampshire acquired the property in 2006 as part of its Hampshire Partners Fund VI and has since completed significant capital improvements to it.
UNION CITY, N.J. — Construction is nearing completion for Altessa, a 15-story residential condominium building located in Union City. The project is owned and is being developed by locally based Rocha Construction & Development. It features 100 units; a rooftop recreation space with an elevated pool and a running track; a residents-only gym; and a lounge with a flat-screen television. The one-, two- and three-bedroom homes range in size from 812 to more than 1,400 square feet and prices start at $310,000. Construction of a model unit on the top floor is expected to be completed in May. Initial occupancies are slated for this fall. Patina Realty is the marketing and sales agent for the project.
ELMWOOD PARK, N.J. — NAI James E. Hanson has arranged the sale of a 16,000-square-foot industrial building located at 20 Bushes Lane in Elmwood Park. The freestanding, single-story facility includes 18-foot clear ceiling heights, two loading docks and more than 30 parking spaces. The buyer, R.N. Foster Associates, was represented by NAI’s Joshua Levering, Robert Borny and Gregory Reid. The buyer plans to complete a full interior renovation of the building and take occupancy this summer. The seller, Interstate Realty, was represented by Scott Deutchman of Hasbrouck Heights, N.J.-based SBWE Inc. The acquisition price was not disclosed.
BEDMINSTER, N.J. — Three new tenants have opened at The Hills Village Center, a 109,800-square-foot shopping center located on Route 206 in Bedminster. Pedigree Pet Supplies has opened at 4,184-square-foot location, Somerset Valley Urgent Care has opened at 3,892-square-foot location, and Big East Wireless has opened a 1,000-square-foot location. Other tenants to recently open at the center include Starbucks Coffee, Yamamomo Japanese Restaurant, Cold Stone Creamery and Beadluxe. The center is anchored by a Kings supermarket. Dale Mulartrick of Levin Management Corp., the leasing and management agent for the property, negotiated each of the transactions. The Hills Village Center is the retail component of The Hills, a 5,200-residence, master-planned community.
CARMEL, N.Y. — The grand opening has been held for the first building at The Retreat at Carmel, a 215-unit residential condominium project currently under construction in Carmel. Developed by Bloomfield, Mich.-based Pulte Homes, the community comprises eight buildings with two levels of single-story residences over a garage. The community is being targeted to seniors. Prices range from $319,990 to $449,990. Community amenities include a 7,100-square-foot clubhouse that contains an outdoor heated pool and sundeck, a putting green, a ballroom with a catering kitchen, a fitness center, an arts and crafts room, a game room with billiards tables, a lounge with a fireplace, and locker rooms. The Retreat at Carmel also includes single-family residences priced from the mid $400,000s.
MARLBOROUGH, MASS. — Richards Barry Joyce & Partners (RBJP) has negotiated four leases totaling 140,466 square feet within Solomon Pond Park in Marlborough. John Lashar, Brian McKenzie and Paul Leone of RBJP represented the landlord, DGI Holdings III LLC, in each of the transactions. AREVA signed a lease for 43,709 square feet of office space at 400 Donald Lynch Blvd. Blue Cod Technologies renewed and expanded its lease to occupy the entire 40,019-square-foot office building located at 295 Donald Lynch Blvd. In addition, it signed a new lease for 29,763 square feet of space at 500 Donald Lynch Blvd. Finally, Park Place International signed a lease for 26,975 square feet of office and light industrial space at 500 Donald Lynch Blvd. Solomon Pond Park is owned by a joint venture between Great Point Investors and Nordic Properties. The 163-acre, master-planned business park includes more than 700,000 square feet of office, research and development and flex industrial space. The park also contains Solomon Pond Mall, a Marriott Residence Inn hotel, an in-park childcare center, a 2-mile jogging trail, an on-site cafeteria and outdoor meeting areas.
MATTAPAN, MASS. — Arbor Commercial Funding has arranged a $7.22 million loan for Tennis Road Apartments, a 55-unit community located in Mattapan. The loan carries a 10-year term with a 30-year amortization schedule and a 6.12 percent interest rate. John Kelly of Arbor’s Boston office originated the financing through the Fannie Mae DUS product line. The borrower was not disclosed.
NEW YORK CITY — New York City-based Metro Loft Management has opened the remaining 200 rental apartments at 20 Exchange Place for occupancy. The luxury apartment tower is located in the Financial District of Manhattan, New York City, and is bordered by Hanover, William, and Beaver streets. The units are located on floors 16 through 57 and range from studio to two bedrooms. Unit amenities include 11-foot ceilings and views of the Manhattan skyline. Building amenities include 24-hour doorman, concierge and valet services; a fully equipped fitness center; and a residents’ lounge with pool tables and plasma televisions. A landscaped sundeck on the 19th floor will be open by spring. In addition, the building features more than 100,000 square feet of retail space. Monthly rents for the apartments start at $2,100. Metro Loft Management is the owner and developer of the project.
NEW BRUNSWICK, N.J. — New Brunswick-based Tekton Development Corp. is eyeing a January 2010 completion date for its renovation and restoration of the 16,000-square-foot Convent of St. Peter the Apostle in New Brunswick. The $3.8 million project will transform the property, which is located at 94 Somerset St. on the Rutgers University campus, into the Campus Ministry office of the Diocese of Metuchen. Construction will involve updating pieces of the development that were originally built in the early 1800s. The new property will include a chapel, offices, a library, meeting rooms and a kitchen.
BUFFALO, N.Y. — The Upstate New York office of NorthMarq Capital has arranged $1.4 million in first-mortgage financing for a 14,550-square-foot Walgreens pharmacy located in Buffalo. Michael James of NorthMarq originated the loan on behalf of the undisclosed borrower through Sun Life Assurance Company of Canada. Terms of the loan were not disclosed.