BLUE BELL, PA. – Beacon Commercial Real Estate has completed a long-term lease of 10,999 square feet of office space at 5 Sentry Parkway East in Blue Bell. The new tenant, Medequip International, is moving its headquarters from 6,750 square feet in Ambler, Pa. It will take the entire first floor at the new location. Dan Galbally of Beacon Commercial Real Estate represented the tenant, and John Adderly and Richard Jones represented the landlord, Mack Cali.
NORWALK, CONN. — Merritt 7 Corporate Park in Norwalk has again earned the U.S. Environmental Protection Agency’s ENERGY STAR rating for each of its six buildings. Merritt 7’s ENERGY STAR performance scores were extremely high, with ratings that ranged between 91 percent and 98 percent for each of the six buildings. Merritt 7 improved its energy performance by managing energy strategically across the entire complex and by making cost-effective improvements to its buildings. Merritt 7 is a 1.4 million-square-foot complex that is owned by Merritt 7 Venture L.L.C., a joint venture between New York State Teachers’ Retirement System (NYSTRS), and Fairfield Investors, Inc. ING Clarion Partners is an investment advisor to NYSTRS.
NEW YORK CITY — New York City-based Massey Knakal Realty Services has brokered the sale of a five-story, walk-up apartment building, located at 59 Morton St. in the Greenwich Village neighborhood of Manhattan, New York City. The property traded for $3.7 million. It totals 6,680 square feet and contains two rent-stabilized units, one rent-controlled unit, and a vacant parlor and third floor. Massey Knakal’s John Ciraulo and James Nelson negotiated the transaction between the two undisclosed parties.
LAKEWOOD, N.J. — The Sudler Companies has leased a total of 67,000 square feet located within Sudler Corporate Park, the developer’s 250-acre business park located in Lakewood. In the first transaction, Elaut USA signed a new lease for 25,000 square feet of space at 1000 Towbin Ave., a 50,000-square-foot warehouse facility. Elaut will use the space as its corporate headquarters, which will also contain a parts and service department, space for support staff and executive offices. The building is now fully occupied. Sudler’s Jeff Hale provided in-house representation for the landlord in the transaction. The tenant was represented by William Hettler, Jr. of Logistics Realty. In the second transaction, R Tape/Custom Extrusion Technologies renewed its lease for a 42,000-square-foot building located at 1650 Corporate Park West. The tenant occupies the entire facility. Hale represented both parties in lease negotiations. Sudler Corporate Park contains a total of 1.3 million square feet of light industrial, distribution and office space.
NEW YORK CITY — New York City-based The Moinian Group has leased four spaces totaling approximately 33,000 square feet within 17 Battery Place, an office complex located in Downtown Manhattan. Community Access signed a 15-year lease for the entire ninth floor of 17 Battery Place North. It is relocating and expanding from its 17,000-square-foot office located at 666 Broadway. Mark Mandel and Carri Lyon of Cushman & Wakefield represented the tenant. Law firm Steve Krentsl & Jeff Guzman, Esq. signed a lease for 2,300 square feet at 17 Battery Place South. The tenant was represented by Charles Loscalzo of New York Commercial Realty Services. Finally, two existing tenants have renewed their lease and relocated within the property. Tethy’s Tech renewed and expanded its lease to 8,462 square feet at the south tower. Charity Folks renewed its lease for 1,200 square feet. In each of the four transactions, The Moinian Group was represented by Adam Leshowitz, Jamie Jacobs and Rob Sattler of Newmark Knight Frank.
NEW YORK CITY — New York City-based Massey Knakal Realty Services has brokered the sale of four contiguous apartment buildings, located at 526-546 E. 82nd St. in New York City, for $15.5 million. The six-story, walk-up buildings contain 106 residential units and one commercial unit. The units are a mix of market rate and rent controlled; they include 88 two-bedroom units, 17 one-bedroom units and one studio. Massey Knakal’s Tom Gammino and Paul Massey negotiated the transaction. Both parties were undisclosed. The properties traded at a 6.8 percent capitalization rate.
JERSEY CITY, N.J. — Hasbrouck Heights, N.J.-based DMR Architects has completed renovations at Hudson County Plaza, a seven-story, 340,000-square-foot office building located in Jersey City. Formerly the headquarters of Block Drug Company, the former office and lab building was converted by DMR into government offices for the Hudson County government, which acquired the property in 2004. Thirteen county offices relocated to the building, including the Hudson County Sheriff’s Department, the Department of Family Services, the County Clerk, the Superintendent of Elections and the Board of Elections. A chest clinic will also be located on the first floor. Additional construction consisted of building separate building entrances for employees and the public, as well as two additional elevators.
YORK, PA. — York-based ROCK Commercial Real Estate has arranged two leases in the York community of Springettsbury Township. First, ROCK represented York Container Co. in the leasing of 45,000 square feet of warehouse space at 2800 Concord Rd. In the second transaction, ROCK represented Super Shoes in the leasing of 20,000 square feet of retail space within York Marketplace at 2541 E. Market St. The landlords and terms of the leases were not disclosed.
TILDEN, PA. — Ironwood Property Group has purchased 63 acres of land in Tilden for the construction of Tilden Ridge, a 400,000-square-foot regional shopping center. Slated for a fall 2010 opening, the center will feature a 152,000-square-foot Wal-Mart, a 156,000-square-foot Lowe’s Home Improvement Store, 60,000 square feet of inline retail and five free-standing parcels. The site is situated at the intersection of Route 61 and 78. Glenn Marvin of Metro Commercial Real Estate is handling the leasing for the center.
HAMMONTON, N.J. — Gale Construction Co. is set to begin construction on New Jersey Manufacturers Insurance Company’s (NJM) new office campus in Hammonton. The first phase of the facility will feature a 146,000-square-foot, three-story office building with administrative offices, a call center, multi-purpose spaces, a large cafeteria, a central utility plant and a retail bank with a drive-up ATM. Completion is slated for fourth quarter 2010. The second phase, if needed, will be a 100,000-square-foot building that would interface with a three-story atrium from the first phase of construction. The project will be set on 56 acres.