NEW YORK CITY — Massey Knakal has arranged the sale of a two-story, vacant commercial property, located at 108-121 72nd Ave. in the Forest Hills neighborhood of Queens, New York City, for $2 million. The property is 20 feet wide and currently contains 3,240 square feet; it could ultimately be built out to 10,452 square feet. Massey Knakal’s Nick Pertkoff was the sole broker in the transaction. The undisclosed buyer plans to construct a private school on the property.
EASTON, PA. — Denver-based ProLogis has leased 420,000 square feet of distribution space within ProLogis Park 33, located in Easton, to B Foods Inc. The dry-food manufacturer and distributor will be consolidating logistics operations from two of its existing facilities into the new location. ProLogis Park 33 is a two-building distribution park that contains 1.8 million square feet of space. The largest tenant at the park is BMW, which occupies 870,000 square feet of Building II, a facility that was built-to-suit in December 2008. Terms of B Foods’ lease were not disclosed.
PHILADELPHIA — GVA Smith Mack has negotiated the renewal and relocation of Fox Rothschild’s 104,461-square-foot lease at 2000 Market Street, a 29-story, Class A office building located in the central business district of Philadelphia. The law firm will move to the 19th through 21st floors of the building and will continue to occupy the 12th floor. The lease carries a 15-year term. Jim Mullarkey of GVA Smith Mack represented the building’s landlord, RREEF. Fox Rothschild was represented by Doug Simon and Jud Wambold of Tactix Real Estate Advisors.
BEVERLY, MASS. — Life sciences firm Thermo Fisher Scientific has renewed its lease for more than 107,000 square feet of laboratory and office space at Cummings Center, located in Beverly. The company uses the space to develop and manufacture a wide range of water analysis instruments. Stephen Cook of Grubb & Ellis represented the tenant in lease negotiations. The landlord, Woburn, Mass.-based Cummings Properties LLC, was represented in-house by Steve Drohosky. Terms of the lease were not disclosed. The Cummings Center campus is home to more than 500 businesses, including Microsoft, Merrill Lynch, Goldman Sachs, Oxford Global Resources, Liz Claiborne, Wells Fargo, Hasbro, Bright Horizons and Garber Travel. Additionally, more than 30 life sciences occupy space within the campus, which features fitness centers, two full-service banks, daycare facilities, five restaurants, on-site bus service and a branch of North Shore Community College.
WEST CALDWELL, N.J. — Del-Sano Contracting Corp. is currently constructing phases II and III of Crane’s Mill Continuing Care Retirement Community, a continuing care retirement facility in West Caldwell. Situated on 43 acres, a former lumber mill, Crane’s Mill offers independent living, assisted living and skilled nursing care. Upon completion of phases II and III in early 2010, the community will consist of 282 independent living units, 48 assisted living units, 18 dementia units, as well as 66 units for skilled nursing and rehabilitation services. Phase II construction, which is approximately 40 percent complete, is taking place alongside Passaic Avenue and includes the addition of 66 independent living apartments with 47 underground parking spaces, as well as 10 cottages, each featuring an attached garage. The independent living units will be located in a two-story building that will be connected to the existing central facility building to provide direct access to the community’s central amenities. Phase III comprises the assisted living component of Crane’s Mill, which consists of 20,000 square feet of new and renovated space. Specifically, Del-Sano is building a new wing that will house a memory support area, a dementia courtyard and renovated assisted living common areas. The project …
GLEN MILLS, PA. — Greensboro, N.C.-based grocer Fresh Market is opening a new location this month at 925 Baltimore Pike in Glen Mills. The 23,000-square-foot location will feature an in-house bakery, a full-service meat counter an a produce department that features more than 400 items and an organic produce section. This newest location marks the grocer’s entry into the greater Philadelphia market. A second store is scheduled to open later this year in Horsham, Pa.
WEST ORANGE, N.J. — Sheldon Gross Realty have arranged five leases at 80 Main Street, a five-story, Class A office building located in West Orange. These most recent lease brings occupancy in the 102,000-square-foot office building to more than 95 percent. Law firm Eschen, Frenkel, Weisman and Gordon LLP expanded its existing lease at the property to 7,700 square feet. Law firm Sachs Maitlin renewed its lease for 6,000 square feet. Sheldon Gross Realty itself renewed its lease for 3,430 square feet within the building. Accounting firm Aberbach Zolin & Co. signed a new lease for 2,000 square feet. Finally, law firm Mescall & Acosta expanded its existing lease to 1,200 square feet. Neil Gewirtzman and Barbara Gross of Sheldon Gross Realty are the exclusive leasing agents for the property.
HOPEWELL TOWNSHIP, N.J. — The Federal Housing Administration (FHA) has provided a $756 million loan to Capital Health for the construction of a new hospital. The 223-bed facility will replace the existing Mercer Medical Center and will also house two new medical-surgical units. The hospital is slated for completion in 2011. The loan is the largest transaction in FHA’s 75-year history.
SOUTH BRUNSWICK, N.J. — WP Realty has sold South Brunswick Square, a 260,981-square-foot grocery-anchored shopping center in South Brunswick, Middlesex County for $45.5 million. Located along U. S. Highway Route 1, the facility was purchased by 426 ROYAL, LLC. The property is anchored by Home Depot and Stop & Shop and features other tenants such as Bob’s Stores, Dollar Tree, Bandito’s Margarita Factory, Blockbuster Video and Friendly’s. The center is currently 100 percent occupied. WP Realty originally purchased the property for $24 million in 2003.
NEW YORK CITY — Several green projects are reaching completion at the Brooklyn Navy Yard in Brooklyn, New York City, and several more are slated to begin. The Perry Avenue Building, the nation’s first multi-story green industrial facility, is just one of the projects that was recently completed. The $25 million, 89,000-square-foot building features several green aspects, including building-mounted wind turbines, rooftop solar panels, reflective roofing, use of recycled rain water in toilets, recycled building materials, high-efficiency lighting fixtures, natural ventilation systems and special accommodation for bicyclists and low-emission vehicles. The facility is on track to receive LEED Gold certification. In addition, several new projects have been announced. Duggal Visual Solutions is converting a one-story, 30,000-square-foot building into a two-story, 60,000-square-foot LEED Platinum certified facility to manufacture eco-friendly products and become a laboratory for new sustainable products. Known as the Duggal Greenhouse, the $7 million project is slated to begin construction late spring. Duggal is funding $5 million for the project and the City is providing $2 million for basic building improvements, including a new roof and sprinkler system. Other projects include the B&H Photo-Video Distribution Center, a new 600,000-square-foot LEED Silver certified building. The $75 million project is expected …
