Mixed-Use

INVESTOR ACQUIRES TROPHY OFFICE BUILDING IN BOSTON FOR $40M

by admin May 11, 2012

BOSTON — A foreign investor has purchased One Faneuil Hall, an eight-story office and retail building in Boston, for $40 million. The 44,287-square-foot building is fully leased to three tenants: Abercrombie & Fitch, Boston Language Center and Cue Ball Group. Made from granite, travertine and marble, One Faneuil Hall was designed by award-winning architect Graham Gund and completed in 1989. It is located in the city's downtown Financial District, adjacent to 60 State St. and the Faneuil Hall Marketplace. The capital markets division of Jones Lang LaSalle represented the seller, Faneuil Hall Square LLC, in the transaction.

May 11, 2012

PHARMACEUTICAL COMPANY INKS NEW 126,000 SF LEASE IN CAMBRIDGE

by admin May 11, 2012

CAMBRIDGE, MASS. — AVEO Pharmaceuticals Inc. has signed a new, 12-year lease for 126,000 square feet of laboratory and office space at 650 Kendall St. in Cambridge. AVEO, a cancer therapeutics company, plans to use the six-story facility for its headquarters. A joint venture between BioMed Realty and Prudential Real Estate Investors owns 650 E. Kendall St., which is comprised of a 280,000-square-foot research facility.

May 11, 2012

Mixed-Use Northeast

CRANBERRY CROSSROADS DEVELOPMENT TO BREAK GROUND

by admin May 10, 2012

CRANBERRY, PA. — Developers of Cranberry Crossroads will break ground on the mixed-use project on May 23. Plans call for the construction a 90,000-square-foot office building on Route 228 in Cranberry, which will include 360 parking spaces. The building is expected to be completed later this year. The developer, Elmhurst Group, also plans to build a new Dick's Sporting Goods, a GetGo Ga Station and space for additional retailers adjacent to the property. Elmhurst Group has contracted with CBRE to represent the company in the leasing of Cranberry Crossroads.

May 10, 2012

Mixed-Use Northeast

TROPHY MANUFACTURER SIGNS HEADQUARTERS LEASE

by admin May 9, 2012

ELMWOOD PARK, N.J. — Freeman Products Worldwide has signed a 44,000-square-foot lease at 71 Walsh Dr. in Elmwood Park. The trophy manufacturer plans to use the space for its headquarters and regional warehouse. Bonni Heller of Cushman & Wakefield represented the tenant in the transaction. Howard Weinberg and Andrew Houston of Cassidy Turley represented the owner, Walsh Drive Associates. Freeman Products will relocate to the new facility this spring.

May 9, 2012

Mixed-Use Northeast

DELSHA BUYS SENIOR LIENS ON MEATPACKING DISTRICT BUILDING

by admin May 7, 2012

NEW YORK CITY — Delshah Capital has purchased all of the senior liens on 55-57 Gansevoort St., a 26,000-square-foot mixed-use building in the Meatpacking District, from Capital One. The amount owed on the senior liens is approximately $30 million. DelShah has also restructured the lease with Villa Pacri LLC, a restaurant that occupies three floors of the building. The property is also home to the nightclub Gun Bar. About 10,363 square feet of commercial space is currently vacant.

May 7, 2012

Midwest Mixed-Use

DES MOINES MIXED-USE OUT OF RECEIVERSHIP

by admin May 3, 2012

DES MOINES, Iowa — Metonic Real Estate Services, an entity formed by the Silverman family of Omaha, has purchased West Glen Town Center in Des Moines for $34.5 million. The property was in receivership at the time of sale with two different receivers. The mixed-use development was built in two phases in 2006 and 2008. The center includes 418,000 square feet of retail as well as office space and 123 apartments. Ember Grummons of Investors Realty represented the buyer. The Silverman family owns mutlifamily properties and other developments in the Midwest. Through Metonic, the family plans to attract additional retailers to the site, which is 60 percent occupied in the commercial and office spaces. World Group Commercial Real Estate will manage the center.

May 3, 2012

Mixed-Use Northeast

APPAREL COMPANY SIGNS 209,000 SF LEASE IN NORTON

by admin May 3, 2012

NORTON, MASS. — Bodek & Rhodes, an apparel company, has signed a 209,000-square-foot lease expansion at 176 S. Washington St. in Norton. The company also extended its lease by seven years. Located within Norton Commerce Center, 176 S. Washington St. is a warehouse, distribution and office building with 28-foot clear height ceilings and access from I-495. Catherin Minnerly and Ovar Osvold of NAI Hunneman represented the landlord, Paradigm Properties, in the transaction. Rick Schuhwerk and Anthony Coskren of Jones Lang LaSalle represented the tenant.

May 3, 2012

Mixed-Use Northeast

MULTIFAMILY BUILDINGS IN BROOKLYN SELL FOR $18.1M

by admin May 1, 2012

NEW YORK CITY — Urban American has sold three mixed-use properties in Brooklyn for $18.1 million. The properties are located at 350 Empire Blvd. and 441 Brooklyn Ave. in Prospect-Lefferts Garden and 305 E. 34th St. in East Flatbush. The buildings encompass 157,255 square feet, consisting of 154 apartments and five commercial spaces. Bob Knakal and Michael Amirkhanian of Massey Knakal represented Urban American in the transaction. David Berger and Aaron Jungreis of Rosewood Realty Group represented the buyer, Sol Kopelowitz, a local real estate investor.

May 1, 2012

Midwest Mixed-Use

BALL STATE TO BUILD OFF CAMPUS MIXED-USE

by admin April 27, 2012

MUNCIE, IND. — Ball State is finalizing a construction project the university hopes will spur business growth and development in The Village, a retail and residential district on the southeast corner of campus. McKinley Commons will be a living-learning facility operated by the university for students in the hospitality and food management program. It is expected to include two restaurants, a student-run sales area, large and small meeting rooms and a lodging facility with approximately 100 rooms that will replace the university's current hotel in the L.A. Pittenger Student Center.

April 27, 2012

Mixed-Use Northeast

TWO BUILDINGS SELL FOR $11.4M IN GREENWICH VILLAGE

by admin April 27, 2012

NEW YORK CITY — Massey Knakal has arranged the $11.4 million sale of three properties in Manhattan's Greenwich Village neighborhood. The sale includes 175-177 MacDougal St., two mixed-use buildings built in 1837. The building contains 10 apartments, two retail spaces and two commercial spaces. The third building is 179 MacDougal St., a one-story building with five retail tenants. The lower level once housed the former Bon Soir club, where Barbra Streisand launched her career. James Nelson of Massey Knakal Realty Services represented both the buyer, an investor, and seller, a long-term owner, in the deal.

April 27, 2012

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