SOUTH BRUNSWICK, N.J. — Roseland, N.J.-based The Gale Construction Company has completed a 25,000-square-foot office build-out on behalf of Sutman Princeton Associates. The project consisted of the offices of Theradex Systems, located at 4365 Route 1 South in South Brunswick. Gale renovated 5,000 square feet of space on the office’s first floor and 20,000 square feet on the third floor. The first floor contains a reception area, IT support, an employee lunch room and a business operations area. The third floor consists of an executive area with a library, conference rooms, 27 private offices, 45 workstations and various support rooms. Seth A. Leeb provided architectural services for the project. Theradex Systems’ new office houses approximately 80 employees consisting of administrative, research, executive and marketing staff.
BOSTON — Norwell, Mass.-based Acella Construction Corp. has completed a 4,500-square-foot renovation at Northeastern University in Boston. Construction consisted of the renovation of the Education Technology Center at the Snell Library. A new wall configuration was put in place, which created individual offices for the staff. The new space also contains a kitchenette, a training lab, a resource library, a digital media suite and a recording studio. In addition to this most recent project, Acella recently completed its seventh laboratory renovation at Northeastern University in the past 12 months.
MANSFIELD, MASS. —Fantini & Gorga has arranged $8 million in construction and permanent financing for Mansfield Marketplace, a 23,840-square-foot retail center that is being developed by Hecht Development near Route 140 in Mansfield. Construction will comprise two freestanding buildings; tenants already signed on include AT&T, Sleepy’s and Chipotle Mexican Grill. John Gorga and Joe Eddy of Fantini & Gorga originated the loan with a regional bank. Terms of the financing were not disclosed.
NEW YORK CITY — New York-based Time Equities has completed the sale of a 2,337-square-foot office condominium, located within Diplomat Centre at 820 Second Ave. in New York City, for $1.7 million. The condo was acquired by K&A Medical Management, which will locate to the sixth floor of the 19-story building. Other tenants include Dr. Barron Lonner, the Government of Croatia and the Republic of Angola, as well as several non-profit organizations and medical professionals. Michael Rudder of Time Equities represented the seller, Diplomat Centre LLC; Rudder is also heads the group of investors that comprise Diplomat Centre LLC. Acquisition financing was provided by Long Island Development Corp. and Banco Popular.
TERRYVILLE, CONN. — Arbor Commercial Funding has secured $2.66 million in Fannie Mae financing for Quail Hollow Village, a 66-unit multifamily community located in Terryville. The loan carries at 10-year term, a 30-year amortization schedule and a 6.42 percent interest rate. John Edwards of Arbor’s Boston office originated the financing on behalf of the undisclosed borrower. The loan was secured under Fannie Mae’s Small Loans product line.
HEMPSTEAD, N.Y. — Floris Spa has opened a new 5,336-square-foot location within East Meadow Commons, located at the intersection of Hempstead Turnpike and Wantagh Parkway in Hempstead. The spa operates a 25-store chain, with four other locations on Long Island. East Meadow Commons is owned by New York City-based Nassimi Realty. The company began renovations to the then 52,000-square-foot center in 2006, including converting a former roller skating rink into 30,000 square feet of retail space and a former Pep Boys location into a multi-tenant retail building. Other improvements have included new roofs and building façades.
NEW YORK CITY — Construction has been completed for Fordham Place, a 276,475-square-foot multi-use project located at the intersection of East Fordham Road and Webster Avenue in the Bronx, New York City. The building consists of 14 stories of Class A office space and three stories of retail space. Retail tenants include Sears, Best Buy, 24 Hour Fitness and Walgreens. The office component features floor plates that range in size from 27,659 square feet in the base of the building to 8,165 square feet in the tower floors. Construction at Fordham Place consisted of the conversion of a conventional department store to the multi-use building. Approximately 90,000 square feet of space was added to the first six floors and the property’s cellar was expanded to 37,000 square feet. The loading dock was relocated and replaced with a two-story to five-story glass façade that serves as the entrance to the upper-level retail shops. The building has been pre-certified for LEED – Core & Shell designation. Fordham Place was designed by Atlanta-based GreenbergFarrow; it was developed by a partnership between Acadia Realty Trust and PA Associates.
RUTHERFORD, N.J. — Cranbury, N.J.-based Sweetwater Construction Corp. has commenced construction for a 50,000-square-foot medical facility located at 201 Route 17 North in Rutherford. The facility will house the MALO CLINIC Ambulatory Surgery Center and MALO Advanced Oral Rehabilitation Center, each of which will be housed on a separate floor. The surgery center will contain four operating rooms, multiple exam rooms, staff offices, doctor’s lounges and reception areas. The dental center will include more than 40 exam rooms, a call center, a radiology center, waiting lounges and a health bar. It will also be used for the education of other dental professionals. The project’s owner is MALO Consulting NJ, the North American branch of Portugal-based MALO CLINIC Health & Wellness. The new facility will mark the company’s second New Jersey facility, the other being located in Mahwah. West Orange, N.J.-based Posen Architects is serving as project architect. Completion is scheduled for summer.
WEST WARREN, MASS. — CB Richard Ellis – New England (CBRE) has brokered the sale of a 15-building, 600,000-square-foot industrial property located in West Warren for $2.2 million. The complex is situated on approximately 105 acres at 85 South St. The property was constructed in the late 1800s and has served as the headquarters for Wrights Inc. for the past 50 years. CBRE’s Mark Reardon and David Corkery represented Wrights in the sale. The buyer, New Hampshire-based MDP Development, was represented by Carl Burwick of Katz Real Estate.
LONG BRANCH, N.J. — Livingston, N.J.-based Gebroe-Hammer Associates has arranged the sale of Sea West Manor, a 20-unit apartment property located at 559 Second Ave. in Long Branch, for $1.5 million. The community comprises 10 studio units, eight one-bedroom units and two, two-bedroom units. Occupancy was 95 percent at the time of closing. Gebroe-Hammer’s Steven Follman represented the seller, Brott Realty, as well as the buyer, Sea West Apartments LLC.