HAUPPAUGE, N.Y. — Rechler Equity Partners has leased a 104,000-square-foot industrial property, located at 85 Nicon Ct. in Hauppauge, to Global Freight Management (GFM). The new facility will be used by GFM to consolidate its Huntington, N.Y., and Hauppauge operations. Rechler Equity’s Harry Stavro represented building ownership in the lease transaction. Mario Asaro of United Realty represented GFM. Terms of the lease were not disclosed.
PLAINSBORO TOWNSHIP, N.J. — Turner Construction Co. has been selected to build a $441 million replacement hospital for University Medical Center at Princeton, located in Plainsboro Township. The 636,000-square-foot facility will be constructed over the next 3 years. It will contain 269 beds, 10 surgical suites, full-service diagnostics, cardiac labs and radiation oncology with linear accelerators, as well as ancillary and support space.
MEREDITH, N.H. — Natick, Mass.-based Crosspoint Associates has completed the redevelopment of Meredith Bay Shops, a 70,000-square-foot shopping center located in Meredith. Crosspoint first acquired the property in 2007 and set about completing a more than $10 million revitalization and expansion of the property, which included a 30,000-square-foot Hannaford Supermarket, which now anchors the property. Other tenants include Olympia Sports, which recently opened a 4,200-square-foot location, as well as Rite Aid, BarnZ’s Cinema, Dockside Florist, Meredith Cleaners and Lake Region Nutrition.
HACKENSACK, N.J. — Hasbrouck Heights, N.J.-based DMR Architects has broken ground for the first phase of the new Bergen County Command Center in Hackensack. The two-story, 30,000-square-foot building will house Bergen County’s 911 Communications Center and the Office of Emergency Management and Emergency Operation Center. The center will have space for 34 operators. The offices had previously been located in separate buildings, with each town in Bergen County operating its own 911-call center. Completion is expected in early 2010.
NORWAY, MAINE —Marcus & Millichap has brokered the sale of a 14,700-square-foot Walgreens pharmacy located in Norway. The property is situated on 1.63 acres and was constructed in 2008. The transaction was negotiated by Bob Horvath and Todd Temblay of Marcus & Millichap’s Boston office, along with Mike Lombardi and Darren Griffith of the firm’s New Jersey office. The buyer was a New York-based investor and the seller was a regional developer. The property traded at a price of $5.3 million.
BEVERLY, MASS. — Cummings Properties has received the Environmental Protection Agency’s Energy Star designation for 900 Cummings Center, a 200,000-square-foot office building located in Beverly that is owned and managed by Cummings Properties. The facility is the first of its kind in Beverly to receive the Energy Star label and the fifth property in Cumming’s portfolio to do so.
CAMBRIDGE, MASS. — Jones Lang LaSalle has completed NorthPoint Residences, two residential condominium towers located within the NorthPoint master-planned community in Cambridge. The buildings comprise 1 Earhart Way, which rises eight floors and contains 99 one-bedroom lofts, and 2 Earhart Way, a 12-story building that contains 230 one- to three-bedroom flats and duplexes. The former building also contains one level of underground parking and the latter building contains two levels of underground parking. The community includes an interior courtyard with a bamboo garden. The 1 Earhart Way building was designed by CBT Architects; 2 Earhart Way was designed by Architects Alliance. The project is being developed by Pan Am Systems.
SHORT HILLS, N.J. — Woodbridge, N.J.-based The Kislak Company has completed the sale of a 15,027-square-foot retail property, located at 36-46 Chatham Rd. in Short Hills, for $3.78 million. The property, which is almost fully occupied, includes the primary retail space for downtown Short Hills, as well as additional office and other commercial space. Kislak’s Jeffrey Wiener represented the seller and Matt Weilheimer, also of Kislak, represented the buyer. Both parties were undisclosed.
EXETER, N.H. — Bedford, N.H.-based Eckman Construction has completed the $7.3 million renovation of Seacoast School of Technology in Exeter. Located on Linden Street, the school serves the seven area high schools and provides 12 programs of study. Renovations included a new building for the Automotive Service Technology program that contains two classrooms and a 12-bat auto repair facility, a new main entrance, a new space for the on-site teaching pre-school, a new air conditioning system, and upgrades to the building’s mechanical and electrical systems. The project was designed by Lebanon, N.H.-based Banwell Architects.
WEBSTER AND PINELLAS PARK, N.Y. — NorthMarq Capital has arranged two loans in New York totaling approximately $25 million. NorthMarq’s Upstate New York office secured approximately $18 million in first-mortgage financing for Webster Manor Apartments, a 308-unit multifamily community located in Webster. Sam Berns of NorthMarq originated the loan, which carries a 7-year term and a 30-year amortization schedule. The lender was AmeriSphere Multifamily Finance, a Fannie Mae DUS lender. Additionally, NorthMarq’s New York Metro office arranged $7 million in first-mortgage financing for a 46,817-square-foot Wal-Mart located in Pinellas Park. Craig Bjornsund of NorthMarq, along with Carl Amorosino of Estreich & Co., secured the loan, which also carries a 7-year term and a 30-year amortization schedule. The borrowers in both transactions were undisclosed.