YORK, PA. — York-based ROCK Commercial Real Estate has arranged the sale of a 40,000-square-foot industrial property located on approximately 4 acres at 3350 Farmtrail Rd. in Manchester Township, York. ROCK represented the buyer, Tekgard. The seller, Key Plastics Technology, was represented by Hart Corp. The acquisition price was not disclosed.
MARLBOROUGH, MASS. — Colliers Meredith & Grew has negotiated the sale of a 28,000-square-foot flex industrial building, located at 85 Hayes Memorial Dr. in Marlborough, for $2.1 million. The property was constructed in 1974 and expanded in 1998. It contains office and warehouse space, and was fully leased to Diamond Machining Technology at the time of closing. Wayne Spiegel, William Lynch and Timothy O’Brien of Colliers Meredith & Grew represented the seller, EPP Real Estate. Joel Aho of O’Brien Commercial Properties represented the undisclosed buyer.
NEW YORK CITY — L&L Holding Co. has completed the interior build-out for Grey Group’s new 370,000-square-foot world headquarters, located at 200 Fifth Ave. in Manhattan, New York City. The new office encompasses six floors of the 800,000-square-foot office building. Construction included new elevators, bathrooms and windows, as well as a modernization of the electrical systems and other infrastructure. Grey Group will be relocating in the fall from its current Midtown offices at 777 Third Ave. L&L is currently undertaking a $120 million redevelopment of 200 Fifth Avenue. The project is being designed by Studios Architecture, with assistance from Landscape Designs. Upon completion, it is expected to achieve LEED-Gold certification.
LYNDHURST, N.J. — Hasbrouck Heights, N.J.-based DMR Architects has completed the $2 million renovation of the Jefferson Elementary School annex, located on New York Avenue in Lyndhurst. The building, which was formerly occupied by the Knights of Columbus, will now house kindergarten, first grade and second grade students for the school. The renovation will also allow for the accommodation of children with special needs, including the installation of an elevator for ADA access. In addition, the building’s existing kitchen was upgraded, as were the nurse’s office, the main office and the building’s façade. The project was funded by a joint venture between the town and the school district.
WORCESTER, MASS. — Arbor Commercial Funding has arranged $2.68 million in Fannie Mae DUS financing for Franklin Street, a 55-unit multifamily property located in Worcester. John Kelly of Arbor’s Boston office originated the loan, which includes a 10-year term, a 30-year amortization schedule and a 6.15 percent interest rate. The borrower was not disclosed. Arbor Commercial Funding is a wholly owned subsidiary of Arbor Commercial Mortgage.
WOBURN, MASS. — Woburn-based Cummings Properties has leased 7,000 square feet of office space at TradeCenter 128, a 400,000-square-foot office complex located in Woburn. Newly formed insurance brokerage firm Tudor Risk Services will occupy 7,000 square feet of office space within the complex. The company was founded earlier this year and is operating dual headquarters in Boston and Albany, N.Y. Derek Cook of Cummings Properties provided in-house representation in lease negotiations. Terms of the transaction were not disclosed.
JERSEY CITY, N.J. — Livingston, N.J.-based Gebroe-Hammer Associates (GHA) has brokered the sale of five mid-rise apartment buildings located in Jersey City for $12.5 million. The buildings contain a total of 150 units and are located at 317-343 Fairmount and 62 Kensington avenues. They contain a mix of one-, two- and three-bedroom units. Occupancy was approximately 80 percent at the time of closing. GHA’s Benjamin Greenstein and Alan Lieberman represented the seller and procured the buyer. Both parties were undisclosed.
ALBANY, N.Y. — Albany-based Omni Development Co. has completed construction of Jared Holt Mews Townhouses, 10 affordable housing units located at the corner of Broad Street and Third Avenue in Albany. The two-story residences feature seven distinct façades, with each residence containing its own private entrance, as well as a patio or deck. United average 1,200 square feet and contain one to five bedrooms. Monthly rents for the townhomes for qualified residents will be $871, and the Albany Housing Authority will offer lease-to-own opportunities in the future. The completion of the Jared Holt Mews Townhouses marks the completion of Phase I of the $22 million revitalization of Albany’s South End. Phase II of the project will add 43 units and will break ground later this year. The first two phase combined will bring 95 new and rehabilitated low-income homes to Morton Avenue, Clinton Street and Broad Street.
KING OF PRUSSIA, PA. — BPG Properties has leased a total of 37,390 square feet of Class A office space at 1000 Continental Drive, a 200,000-square-foot office building located in King of Prussia. Nationwide Funds Group will occupy 29,615 square feet of the building and Grubb & Ellis will lease 7,775 square feet. They will join a tenant roster that currently includes The Hartford Financial Services Group, a subsidiary of Specialty Risk Services, Capital One and Worldwide Clinical Trials. BPG, the owner of the property, was represented in-house by Stephen Spaeder and Neil Gallagher. Additional landlord representation was provided by Jeffrey Mack, Douglas Newbert and John Susanin of GVA Smith Mack. Nationwide was represented by Michael Bronstein and Kari Fryman of CB Richard Ellis in its lease transaction; Grubb & Ellis was represented in-house by J. Robert Clements in its lease transaction.
NEW BEDFORD, MASS. — Boston-based Fantini & Gorga has arranged a $4.9 million loan for a 71,000-square-foot, Class A office building located at 700 Pleasant St. in downtown New Bedford. The property is owned, leased and managed by Whelan Associates, which first acquired the property in 2005. It was originally built by a financial institution. George Fantini and Mark Whelan of Fantini & Gorga originated the financing through a local bank. Terms of the financing were not disclosed.