Northeast

TWO DISTRIBUTION CENTERS SOLD FOR $3.6 MILLION

by admin December 5, 2008

EAST HARTFORD, CONN. — Hamden, Conn.-based Press/Cuozzo Commercial Services has brokered a 121,750-square-foot industrial sale in East Hartford for $3.6 million. The property comprises two distribution centers situated on 2 acres at 166 and 188-200 Prestige Park Rd. The buildings total 81,750 and 40,000 square feet; they feature 27-foot clear ceiling heights and a total of eight tailgate loading docks. Albert Scafati of Press/Cuozzo represented the buyer, 55 Pent Highway Associates. Nicholas Morizio of Colliers Dow & Condon represented the seller, A&M Cohen & Family.

December 5, 2008

DPM COMPLETES EXPANSION TO THE PIKE SCHOOL

by admin December 5, 2008

ANDOVER, MASS. — Newton, Mass.-based Diversified Project Management has completed renovations and an expansion to The Pike School, an independent pre-K through 9th grade school located at 34 Sunset Rock Rd. in Andover. Construction consisted of a 21,500-square-foot addition to the school, as well as a 7,300-square-foot renovation. Construction was focused on enhancing the school’s visual and performing arts programs.

December 5, 2008

Multifamily Northeast

KEYBANK ARRANGES $51.8 MILLION IN FANNIE, FREDDIE LOANS

by admin December 4, 2008

MASSACHUSETTS AND NEW YORK — KeyBank Real Estate Capital has arranged a total of $51.8 million in Fannie Mae and Freddie Mac loans for four projects located in Massachusetts and New York. In Cambridge, Mass., Forest City 91 Sidney Street LLC borrowed $25 million in Fannie Mae DMBS funds to refinance a 10-story, 135-unit property located within the 27-acre University Park at MIT master-planned development. In Great Neck, N.Y., Oxford Developers LLC borrowed $17.4 million in Freddie Mac immediate funding for Oxford Court, a 65-unit, Class A apartment complex. In Penfield, N.Y., Willow Pond Apartments LLC borrowed $6.5 million in Freddie Mac funds to refinance the 182-unit, Class B Willow Pond Apartments. Finally, in Danvers, Mass., Spring Meadows Associates LLC borrowed $2.9 million in Fannie Mae funding for the acquisition of a 22-unit multifamily property. Terms of the four loans were not disclosed.

December 4, 2008

Healthcare Northeast

LEXINGTON FINANCES MEDICAL OFFICE BUILDING

by admin December 4, 2008

BOSTON — The Boston and Dallas offices of Holliday Fenoglio Fowler (HFF) have secured $13.7 million in financing for 147 Milk St., a 52,337-square-foot medical office building located in Boston’s Financial District. The 10-story property, which was constructed in 1910 and renovated in 1984, is fully leased to Harvard Vanguard Medical Associates. Todd Armstrong and Janet Krolman arranged the fixed-rate loan on behalf of Lexington Realty Trust with Delaware Investments. Terms of the financing were not disclosed.

December 4, 2008

Industrial Northeast

ROCK COMMERCIAL REAL ESTATE BROKERS INDUSTRIAL SALE

by admin December 4, 2008

YORK, PA. — York-based ROCK Commercial Real Estate has brokered the sale of a 7,100-square-foot industrial property located at 31-33 S. Seward St. in York. The property was acquired by York Habitat for Humanity. ROCK represented both parties in the transaction. The acquisition price was not disclosed.

December 4, 2008

Northeast Office

NORTHMARQ BROKERS 303,149-SQUARE-FOOT OFFICE LEASE EXTENSION

by admin December 4, 2008

PHILADELPHIA — Minneapolis-based NorthMarq has secured a 303,149-square-foot lease extension for two members of the AmeriHealth Mercy Family of Companies in Philadelphia. The companies, Keystone Mercy Health Plan and AmeriHealth Mercy Health Plan are headquartered at 100 and 200 Stevens Dr. in Philadelphia, located near Philadelphia International Airport. The buildings are owned by Edison, N.J.-based Mack-Cali. The new leases extend to 2020.

December 4, 2008

Northeast Office

PEOPLE’S UNITED BANK SELLS NINE-PROPERTY DOWNTOWN PORTFOLIO

by admin December 3, 2008

BRIDGEPORT, CONN. — People’s United Bank has disposed of a nine-property portfolio covering approximately two blocks of downtown Bridgeport. The portfolio totals 255,548 square feet of commercial space, and includes 167, 177, 189 and 211 State St.; 779, 815, 855 and 899 Main St.; and 830/880 Broad St. The bank’s headquarters building, located within the portfolio’s area at 850 Main St., was not included in the sale. The portfolio was acquired by Main State Ventures, a partnership between Norwalk, Conn.-based companies Forstone Capital and Spinnaker Real Estate Partners. The acquisition brings Forstone’s downtown Bridgeport holdings to approximately 425,000 square feet of commercial space. Jeffrey Dunne and Steven Bardsley of CB Richard Ellis represented the seller. Immediate plans for the portfolio were not disclosed.

December 3, 2008

Northeast Office

GRUBB & ELLIS NEGOTIATES 40,000-SQUARE-FOOT OFFICE SALE

by admin December 3, 2008

BELLMAWR, N.J. — Grubb & Ellis has negotiated the sale of a 40,000-square-foot office building, located at 211 Benigno Blvd. in Bellmawr, for $2.8 million. Kurt Montagano and Joseph Sklencar, Jr. of Grubb & Ellis represented the seller, Bessemer Group, Inc. The buyer was Children’s Choice of New Jersey.

December 3, 2008

Multifamily Northeast

FANTINI & GORGA ARRANGES $29.7 MILLION MULTIFAMILY LOAN

by admin December 3, 2008

PEMBROKE, MASS. — Boston-based Fantini & Gorga (F&G) has arranged $29.7 million in first mortgage financing for Alexan Pembroke Woods, a 240-unit multifamily property located in Pembroke. Amenities at the Class A community include a fitness center, a swimming pool, a community room and a business center. George Fantini, Jr., Tim O’Donnell and Derek Coulombe of F&G arranged the financing on behalf of the borrower, BC Pembroke Woods LLC. The lender was a national agency lender. BC Pembroke Woods LLC is a joint venture between Boston Capital Real Estate Partners and Trammell Crow Residential. Terms of the financing were not disclosed.

December 3, 2008

Northeast Office

SKYLINE LEASES FULL FLOOR OF OFFICE TOWER

by admin December 3, 2008

NEW YORK CITY — Skyline Developers has leased the 10th floor of 1040 Avenue of the Americas, located in Midtown Manhattan, New York City. The 12,000-square-foot space will be occupied by Northeast Power Coordinating Council. William Cohen of Newmark Knight Frank represented the landlord; Barry Rosner, also of Newmark Knight Frank, represented the tenant. The office building at 1040 Avenue of the Americas totals 24 stories and 256,000 square feet.

December 3, 2008

Newer Posts

Older Posts