Northeast

CONSTRUCTION ADVANCING FOR L HAUS

by admin August 22, 2008

NEW YORK CITY — Construction is advancing for L haus, an 11-story residential condominium tower located in the Long Island City neighborhood of Queens, New York City. Upon completion in early 2009, the project will comprise 122 one-, two- and three-bedroom units ranging in size from 675 to 1,800 square feet. Additionally, two-bedroom convertibles, and two- and three bedroom duplexes and penthouses will be available. Prices range from $500,000 to more than $1.5 million, and residents benefit from a 15-year, 421-A tax abatement. Community amenities include 10,000 square feet of outdoor space with a lawn, a water feature, tables and a grill; a rooftop terrace; a common room with a catering kitchen; a fitness center and yoga room; and a media room with a big-screen TV and seating for 16. Prudential Douglas Elliman is the marketing and sales agent. The project is being developed by The Stahl Organization.

August 22, 2008

AZARIAN RECEIVES APPROVAL FOR ALLENDALE SHOPPING PLAZA RENOVATION

by admin August 22, 2008

ALLENDALE, N.J. — Midland Park, N.J.-based The Azarian Group has received government approvals for the renovation and expansion of The Allendale Shopping Plaza in Allendale. Construction at the 5-acre site will consist of a 5,000-square-foot expansion to the north end of the mall, the redesign of the property’s parking lot, and a façade update to match A&P’s newly renovated Fresh Store. Construction is set to begin in September, with completion scheduled for spring 2009.

August 22, 2008

Northeast Retail

KUIKEN BROS. BREAKS GROUND FOR 12-ACRE LUMBER YARD

by admin August 22, 2008

SUCCASUNNA, N.J. — Kuiken Brothers Co. has broken ground for the construction of a 12-acre lumber and building materials facility in Succasunna. Located at 33 Route 10 East, the drive-thru lumber yard will include inventory such as lumber, windows, doors, drywall, molding, decking and railing, hand and power tools, and other construction products. The facility will also include rail service, which had previously been inactive for more than a decade. The site had been operating as a lumberyard prior to Kuiken’s development of the property. In addition to the new construction, extensive landscaping will be installed, along with permanent conservation areas that will buffer Horseshoe Lake.

August 22, 2008

Healthcare Northeast

SHCA SELECTED FOR HEALTH CENTER REHAB

by admin August 22, 2008

NEW YORK CITY — New York City-based Swanke Hayden Connell Architects has been selected by the Department of Design and Construction for the City of New York to provide design services for the rehabilitation of three New York City health centers. The facilities include Astoria District Health Center, located in the Astoria neighborhood of Queens; Bedford District Health Center, located in the Bedford-Stuyvesant neighborhood of Brooklyn; and Fort Green Health Clinic, also located in Brooklyn. Construction will consist of the rehabilitation of the exterior building envelopes, and ADA accessibility upgrades. Construction is underway, with completion scheduled for October.

August 22, 2008

Hospitality Northeast

FORMER WYNDHAM HOTEL REOPENS AS COURTYARD

by admin August 21, 2008

BILLERICA, MASS. — The grand opening has been held for the Courtyard by Marriott Boston Billerica hotel following a multi-million dollar renovation. The hotel, located at 270 Concord Rd. in Billerica, was previously known as the Wyndham Hotel Billerica, before being renovated and re-flagged under the Marriott brand. The eight story hotel features 210 rooms. Hotel amenities include a business library featuring individual workstations with high-speed data ports; the Fireside Grill restaurant and Fireside Lounge; a 24-hour convenience store; a lounge area; an indoor swimming pool; and a fitness center. Additionally, the hotel includes 4,300 square feet of meeting space. The hotel is owned by affiliates of Rockbridge and Pinnacle Hotel Management. Pinnacle also manages the property.

August 21, 2008

Industrial Northeast

MERICLE ARRANGES 135,991-SQUARE-FOOT INDUSTRIAL LEASE

by admin August 21, 2008

JENKINS, PA. — Wilkes-Barre, Pa.-based Mericle Commercial Real Estate Services has arranged a 135,991-square-foot industrial lease for Portland, Maine-based The Emery-Waterhouse Company. The company will be locating its sales and distribution center within a 254,200-square-foot building located within CenterPoint Commerce & Trade Park East in Jenkins. William Hassan and Bill Wolf of CB Richard Ellis brokered the transaction, with Dan Walsh representing Mericle. Terms of the lease were not disclosed.

August 21, 2008

Northeast Office

ROSE HILL GROUP ARRANGES OFFICE, RETAIL LOANS

by admin August 21, 2008

AMHERST AND POTSDAM, N.Y. — Buffalo, N.Y.-based The Rose Hill Group of Western New York (RHG) has arranged two loans totaling $10.95 million. The first loan totals $7.75 million and was secured by a three-story, 150,000-square-foot office building located on Main Street in Amherst. KeyBank is the primary tenant, and has recently signed a new 10-year lease. Daniel Monte of RHG arranged the financing through a correspondent life insurance company. A.C.G. Main-Eggert Associates owns the property. The second loan totals $3.2 million and is secured by a new 16,352-square-foot Honda auto dealership located in Potsdam. The lender was also a correspondent life insurance company.

August 21, 2008

Northeast Retail

FIRST SUPERMARKET OPENS IN LONG ISLAND CITY

by admin August 21, 2008

NEW YORK CITY — The grand opening has been held for a new Food Cellars supermarket at 4705 Center Blvd. in the Long Island City neighborhood of Queens, New York City. The grocer occupies 22,000 square feet on the ground floor of a rental apartment building owned by Rockrose Development Corp. The event marks the first supermarket to open in Long Island City.

August 21, 2008

Multifamily Northeast

POSKANZER SKOTT, PAGE + STEELE FINISH AQUABLU TOWERS DESIGN

by admin August 20, 2008

JERSEY CITY, N.J. — Ridgewood, N.J.-based Poskanzer Skott Architects, in partnership with Toronto-based Page + Steel Architects, has completed the design for Aquablu Towers, a 33-story apartment tower located at 110 River Dr. in Jersey City. Totaling 470,505 square feet, the project will contain 360 rental units in a mix studio, one-, two- and three-bedroom units. Completion of the project is expected in early 2009. The LeFrak Organization is developing the project.

August 20, 2008

Multifamily Northeast

CUSHMAN & WAKEFIELD BROKERS 164-UNIT APARTMENT SALE

by admin August 20, 2008

BEDFORD, MASS. — Cushman & Wakefield of Massachusetts (C&W) has brokered the sale of Heritage at Bedford Springs, a 164-unit, Class A apartment community located in Bedford. Situated on 13 acres on the Middlesex Turnpike, the property contains six three- and four-story apartment buildings, as well as a two-story clubhouse. The unit mix contains one-, two- and three-bedroom apartment units, as well as one- and two-bedroom loft units. The residences average 1,092 square feet. Community amenities include an outdoor swimming pool with a waterfall, sundeck and barbecue area; a fitness center; a clubroom with a fireside lounge; an indoor café; a basketball court; and a media and business center. Robert Griffin, Jr., Simon Butler and Biria St. John of C&W represented the seller, Heritage Middlesex Turnpike LLC, and procured the buyer, a client of INVESCO Real Estate. The acquisition price was not disclosed.

August 20, 2008

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