SECAUCUS, N.J. — Hartz Mountain Industries is currently redeveloping the Mill Creek Mall in Harmon Meadow in Secaucus. Located just off Route 3, the newly redeveloped mall will include a 28,000-square-foot TJ Maxx and a 70,000-square-foot Toys ‘R’ Us & Babies ‘R’ Us. The facility is slated for completion fall 2008.
NEW YORK CITY — Zachary Felson of Marcus & Millichap has brokered the $5.3 million sale of a portfolio of five multifamily buildings in the Bedford-Stuyvesant area of Brooklyn, New York City. The portfolio contains a total of 62 units and comprises 257 Quincy St., 308 Stuyvesant Ave., 570 Jefferson Ave., 788 Madison St., and 790 Madison St. Felson represented the undisclosed seller and procured the undisclosed buyer in the transaction.
BOSTON — Tufts University has started a vertical addition to an existing 10-story building in the School of Dental Medicine in Boston. The 5-story addition will include 95,000 square feet and is expected to meet LEED certification. Two clinical patient floors, expanded simulation lab and teaching facilities, a conference center and administration offices will occupy the addition. Project partners include ARC/Architectural Resources and Shawmut Design and Construction. Completion is slated for 2010.
PHILADELPHIA — Cushman & Wakefield have arranged the sale of a 245,000-square-foot office building in Philadelphia. Liberty Resources acquired the property from 714 Holdings for an undisclosed amount. The 7-story building, located at 714 Market St., is located in the historic Independence Mall submarket in Center City. Roger McManimon and Jack Myers of Cushman & Wakefield represented the seller in the transaction. Vince Jolly of Selisohn, Soens, Hess represented the buyer.
WEST POTTSGROVE, PA. — Bethlehem, Pa.-based Diamond-Elite Realtors, an affiliate of Coldwell Banker Commercial (CBC), has brokered the sale of 51 acres in West Pottsgrove. Patrick Heller acquired the property, located at 2 Glasgow St., for $3 million from Milton Yohn. David Prizer of CBC represented the buyer and David Specht, also of CBC, represented the seller in the transaction.
NEW YORK CITY — Vornado Realty Trust is converting 40 East 66th St. into new, luxury condominium units. Located along Madison Avenue’s Golden mile, the newly converted facility will feature three-bedroom residences of approximately 2,450 square feet. Amenities include a children’s playroom, a fitness center and a 24-hour doorman. CetraRuddy is the architect for the project and sales and marketing is being overseen by Iva Spitzer of Corcoran Sunshine Marketing Group.
NEWTOWN SQUARE, PA. — GMH Communities Trust has sold its former military housing division, GMH Military Housing, to Balfour Beatty. The UK-based firm purchased the division for $350 million. Now managed under the name Balfour Beatty Communities, the business will continue to focus on providing housing for U.S. military personnel and their families throughout the U.S.
IRVINGTON, N.J. — The Kislak Company has brokered the sale of a retail center in Irvington. The 5,638-square-foot retail center is located at 1173-1181 Springfield Ave. at the intersection of Springfield and Stuyvesant avenues. The center is tenanted by Kennedy Fried Chicken, a delicatessen, a Dollar tree and a salon. The property was sold for $784,000 by an undisclosed buyer to an undisclosed seller. Robert Squires of Kislak represented the buyer in the transaction.
NEW YORK CITY — A.P.T. Parking Technologies and Westfalia Technologies have broken ground on the largest automated parking garage in Brooklyn, New York City. The 270-car facility is part of Baruch Singer’s new nine-story, 226,000-square-foot office building located at 1504 Coney Island Ave. The garage is specially designed to fit within the tight constraints of urban spaces. The garage is slated for completion mid-2010.
WILMINGTON AND MANSFIELD, MASS. — The Stubblebine Company has negotiated two industrial leases in Wilmington and Mansfield. The Wetmore Co. signed a long-term lease for 88,000 square feet of space in an industrial building located at 326 Ballardvale St. in Wilmington. The facility is owned by RREEF. In Mansfield, DGS Retail signed a long-term lease for 57,400 square feet of industrial space at 60 Maple St. The facility, which is owned by Calare Properties, is close to the intersection of I-495 and I-95. James and David Stubblebine and Matt Wolfe of Stubblebine represented DGS, and Calare was represented by Stefan Frey, Jim Thomson and Austin Smith in the transaction. James and David Stubblebine also represented Wetmore, and Tom Aitken of Grubb & Ellis and Steve James of NAI Hunneman represented RREEF, in the lease negotiations.