NEW YORK CITY — Opentrons, a provider of lab automation technology, has signed a 47,790-square-foot life sciences lease at Innolabs, a facility located in the Long Island City area of Queens. Pandemic Response Lab, a subsidiary of Opentrons, moved in to a 13,000-square-foot space in late August. Neochromosome, another subsidiary, and Opentrons will occupy the balance of the space beginning in early 2022. Bill Harvey, Jared Horowitz, Jordan Gosin and Emma Kistler of Newmark represented the landlord, a partnership between King Street Properties, The Carlyle Group and GFP Real Estate, in the lease negotiations.
BILLERICA, MASS. — Avison Young has negotiated an 18,600-square-foot office headquarters lease for pharmaceutical and biotech research firm PureHoney Technologies at 3 Federal Street in Billerica, a northwestern suburb of Boston. Kirk Weller and Jason Levendusky of Avison Young represented the tenant, which will relocate from 44 Manning Road in the fourth quarter, in the lease negotiations. Brian Tisbert of JLL represented the landlord, Rhino Capital.
WALTHAM, MASS. — Design-build firm Dacon Corp. has completed a 19,000-square-foot office renovation project in the western Boston suburb of Waltham. The building will serve as the new headquarters of Mass Electric Construction, a locally based firm founded in 1928. As part of the project, Dacon replaced closed-off wall partitions with glass-walled offices and conference rooms and built collaborative areas along the reception area and amid employee offices.
NEW YORK CITY — Locally based construction firm Omnibuild has reached the midpoint of construction of a 38-story hospitality project at 150 W. 48th St. in Midtown Manhattan that will house three hotels. The Hampton Inn, Home 2 Suites and Motto Hotel will offer a total of 1,046 rooms across the three brands. Additional features will include two ground-floor lobbies with entrances, retail space, a café and restaurant, rooftop bar and two gyms. Sam Chang of The McSam Hotel Group is developing the project, and Gene Kaufman Architects PC is designing it. Completion is slated for next fall.
PHILADELPHIA — Pacific Western Bank has funded a $30 million construction loan for a 142-unit multifamily development in the East Falls neighborhood of Philadelphia. Amenities will include a pool, fitness center, wellness room, resident lounge, game room and private workspaces. The property will also house 10,450 square feet of ground-floor retail space. Gregg Wallace of AMA Financial placed the debt on behalf of the developer, a joint venture between Philadelphia-based Method Co. and Cimbra Partners. Completion is slated for the middle of 2023.
NEW YORK CITY — Global investment bank SVB Leerink has signed a 112,000-square-foot office lease renewal and expansion at 1301 Avenue of the Americas, a 1.7 million-square-foot building located between 52nd and 53rd streets in Midtown Manhattan. New York City-based Paramount Group Inc. (NYSE: PGRE) owns the 45-story building, which features a newly renovated lobby, in-building access to Rockefeller Center and 30,000 square feet of ground-floor and concourse-level retail space.
YONKERS, N.Y. — ACRES Capital has provided a $31.5 million construction loan for a 126-unit multifamily project located at 56 Prospect St. in Yonkers, a northern suburb of New York City. Units will feature modern appliance packages, high-end finishes and private balconies in select units, and amenities will include a rooftop terrace, courtyard and 130 parking spaces. Completion is slated for July 2023. Marty Reasoner of ACRES Capital provided the 30-month loan, and Andrew Milbank of Berko & Associates arranged the debt. The borrower was Melville, N.Y.-based Regency Apartment Ventures.
NEW YORK CITY — Marcus & Millichap has brokered the sale of a 69-unit apartment building located at 31-20 54th St. in Queens. The property consists of 48 one-bedroom units, 13 two-bedroom residences, seven studios and one commercial space. Shaun Riney, Mark Zarrella, Dylan Walsh and Sean Fopeano of Marcus & Millichap had the exclusive listing to market the property on behalf of the seller. The agents also secured the buyer. Both parties involved in the transaction requested anonymity.
WATERTOWN AND NEWTON, MASS. — PCCP LLC has provided a $39.8 million loan for the refinancing of a portfolio of three life sciences and creative office buildings totaling 124,946 square feet in Watertown and Newton, two western suburbs of Boston. The two Watertown properties were built in the 1940s and total 43,344 square feet. The Newton property was constructed in 1900, renovated in 2017 and consists of 81,602 square feet. The borrower, Massachusetts-based KS Partners LLC, will use a portion of the proceeds to fund capital improvements. The portfolio was 94 percent leased at the time of sale.
NEW YORK CITY — Global investment bank Credit Agricole CIB has signed a 167,000-square-foot office lease at 1301 Avenue of the Americas, a 1.7 million-square-foot building located between 52nd and 53rd streets in Midtown Manhattan. New York City-based Paramount Group Inc. (NYSE: PGRE) owns the 45-story building, which features a newly renovated lobby, in-building access to Rockefeller Center and 30,000 square feet of ground-floor and concourse-level retail space.