Northeast

FOUR STATE AGENCIES LEASE 138,000 SQUARE FEET AT 1000 WASHINGTON

by admin June 30, 2009

BOSTON — Four Commonwealth of Massachusetts agencies have taken 138,000 square feet of office space at 1000 Washington Street, an 11-story, 242,000-square-foot office tower located in Boston’s South End that is owned by Nordic Properties. The agencies are all part of the Department of Consumer Affairs and include the Department of Telecommunications and Cable, the Division of Banks, the Division of Insurance and the Division of Professional Licensure. They will occupy floors six through 10, and will share IT facilities and public meeting spaces. The agencies are expected to take occupancy in December. Nordblom Development Co., the parent company of Nordic, will oversee the tenant build-out, and Nordblom Management Co. will oversee property management of the building. Formerly the world headquarters for Teradyne, 1000 Washington Street is situated on a 2-acre city block adjacent to the city’s Financial District and Chinatown. It features a brand new lobby reception area with two outdoor plazas, a top-floor café, a lower-level fitness center and an attached 310-space parking garage.

June 30, 2009

CBRE SECURES $19 MILLION LOAN FOR TELEVISION PRODUCTION STUDIO

by admin June 30, 2009

SECAUCUS, N.J. — The Capital Markets Debt & Equity Group of CB Richard Ellis (CBRE) has secured $19 million for the refinancing of a 197,453-square-foot warehouse and office property located at 40 Hartz Way in Secaucus. The facility, which was originally constructed in 1973, has undergone significant renovations to accommodate its present anchor tenant, Major League Baseball’s MLB Network. The 142,000-square-foot space MLB Network occupies includes 24-foot clear ceilings, two broadcasting studios, 18 loading docks and broadcasting satellites. CBRE’s James Gunning and Donna Falzarano arranged the loan, which carries a 5-year term and a fixed interest rate. The borrower was Hartz Mountain Associates. The lender was a New England-based commercial bank.

June 30, 2009

Multifamily Northeast

HOULIHAN-PARNES ARRANGES $2.45 MILLION MULTIFAMILY LOAN

by admin June 30, 2009

BRIDGEPORT, CONN. — White Plains, N.Y.-based Houlihan-Parnes Realtors has arranged a $2.45 million first-mortgage loan for the refinancing of a multifamily property located in Bridgeport. The property consists of two three-story apartment buildings situated on a 1-acre lot on East Main Street. The buildings contain a total of 45 residential units; the property also includes 20 parking spaces and a vacant tract of land that could accommodate another building. Jerry Houlihan of Houlihan-Parnes arranged the loan, which includes a 10-year term with 5 years fixed and a 30-year amortization schedule. The lender was a New York-based savings bank and the borrower was undisclosed.

June 30, 2009

Multifamily Northeast

MARCUS & MILLICHAP ARRANGES $3.65 MILLION APARTMENT SALE

by admin June 29, 2009

NEW YORK CITY — Marcus & Millichap has arranged the sale of a 52-unit apartment community, located at 2411-2415 Prospect Ave. in the Bronx, New York City, for $3.65 million. The five-story building was built in 1916; it is situated near the Bronx Zoo and Fordham University. Sharone Sohayegh of Marcus & Millichap’s Manhattan office represented the seller, a limited liability company, and the buyer, a private investor.

June 29, 2009

Hospitality Northeast

ROCK COMMERCIAL COMPLETES THREE SALES

by admin June 29, 2009

HANOVER AND YORK, PA. — York-based ROCK Commercial Real Estate has completed three sales. In Hanover, Royal Farms purchased a 23,124-square-foot hotel located at 103-121 Carlisle St. ROCK represented the buyer. In York, Tekgard Inc. purchased a 21,863-square-foot light manufacturing facility located at 3390 Farmtrail Rd. ROCK again represented the buyer. Finally, 922 Loucks Road LLC purchased the 6,682-square-foot former Lone Star Steakhouse & Saloon building, located at 922 Loucks Rd. in York. ROCK represented the undisclosed seller in this transaction.

June 29, 2009

Civic Northeast

ROOSEVELT FOUR FREEDOMS PARK APPROVED

by admin June 29, 2009

NEW YORK CITY — Roosevelt Island Operating Corp. has granted approval for the construction of Franklin D. Roosevelt Four Freedoms Park. The public park, which was designed by Louis Kahn, will be located on the south end of Roosevelt Island in New York City. It will feature an open-air plaza surrounded by three granite columns that will have Franklin Roosevelt’s famous “Four Freedoms” speech carved on them. Funding for Phase I of the project has been secured and construction will begin this summer. The park is being built by Franklin D. Roosevelt Four Freedoms Park LLC. The design of the park was originally commissioned by former New York Governor Nelson Rockefeller in 1973, but only in the past 2 years have the city and state recommitted to building the park.

June 29, 2009

Multifamily Northeast

CBRE ARRANGES $1 MILLION MULTIFAMILY LOAN

by admin June 29, 2009

NEW YORK CITY — CB Richard Ellis Capital Markets (CBRE) has arranged $1 million in first-mortgage financing for 130 West 72nd Street, a five-story multifamily building located in the Upper West Side of Manhattan, New York City. The 8,800-square-foot building contains six one-bedroom rental apartments and two ground-floor retail spaces. Occupancy was 100 percent at the time of closing. CBRE’s Keith Braddish, Jason Gaccione and Rayna Karaivanov arranged the loan, which includes a 5-year term with a 25-year amortization schedule and a 5.87 percent fixed interest rate. Proceeds will be used to refinance the property. The borrower and lender were not disclosed.

June 29, 2009

Northeast Office

LANY TAKES SPACE ON MADISON AVENUE

by admin June 29, 2009

NEW YORK CITY — Denham Wolf Real Estate Services has brokered a 10-year, 7,200-square-foot lease at 171 Madison Ave. in Manhattan, New York City, for Lawyers Alliance for New York Inc. (LANY). The company, which provides business and transactional legal services for nonprofit organizations, will use this new space for its general, executive and administrative offices. Paul Wolf and Amy Lawrence of Denham Wolf Real Estate Services represented the tenant in the transaction while Brian Steinwurtzel and Andrew Udis of Newmark Knight Frank represented ownership, a partnership that is part of Newmark Holdings. Details of the lease were undisclosed, but the asking price was $36 per square foot. Built in 1914, the 16-story building features 113,182 square feet.

June 29, 2009

Industrial Northeast

FIRST AMERICAN REALTY ACQUIRES TWO BUILDINGS AT ATTLEBORO CORP. CAMPUS

by admin June 26, 2009

ATTLEBORO, MASS. — An affiliate of First American Realty has acquired Building 12 and Building 5 in the Attleboro Corporate Campus in Attleboro for $5.27 million. Building 12 is a 213,000-square-foot facility and Building 5 totals 5,650 square feet. The buildings were purchased from Preferred Unlimited, Inc. Building 12 is a state-of-the-art three-story manufacturing building that serves as Sensata Technologies’s global manufacturing headquarters and is leased in its entirety to Sensata Technologies on a long-term basis. Building 5 is also leased on a long-term basis to The BOC Group, Inc. The Attleboro Corporate Campus is a 300-acre mixed-use office and industrial campus located just off Interstate 95.

June 26, 2009

Northeast Restaurant

KAUFMAN ORGANIZATION NEGOTIATES LEASE FOR JPD RESTAURANT GROUP

by admin June 26, 2009

NEW YORK CITY — The Kaufman Organization recently negotiated a 16-year, 5,000-square-foot lease at 470 Seventh Ave. in Manhattan, New York City, for JPD Restaurant Group. ?JPD plans to open a Pig n’ Whistle Irish pub at the location. Located in the Garment District, the 14-story building was built in 1924 and contains 74,000 square feet. The terms of the lease were undisclosed, but the asking rent for the space was $150 per square foot. Other tenants in the building include Ambient Group LLC, David Tutera, Inc., and Sabara Global Consumer Products. Grant Greenspan, Michael Kaufman, and John Schiliro of the Kaufman Organization represented both the landlord and tenant in the transaction.

June 26, 2009

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