NEW YORK CITY — JMC Holdings has acquired a 34,722-square-foot office penthouse at 99 Hudson St. in New York City for $18.5 million. The space spans three contiguous floors in the 16-story building and features a private roof deck. The new owner plans to invest $4 million in renovating the space. The seller is NAACP Legal Defense Fund, which occupied the property since 1984. JMC Holding was self-represented by Matt Cassin and David Taylor. Janet Woods of Jones Lang LaSalle represented the seller.
NEW YORK CITY — The Federal Emergency Management Agency (FEMA) has signed a 200,000-square-foot lease at Forest HillsTower, to serve as the agency's New York City headquarters over the next several months. FEMA will utilize the space for administrative offices. There will be no on-site access to the general public. Given the organization's urgent need to oversee emergency-related activities in the aftermath of Hurricane Sandy, FEMA closed the transaction within a 48-hour period. Ken Siegel of Jones Lang LaSalle represented the landlord, Muss Development in the transaction. Mark Greenspan of CBRE Group represented the United States General Services Administration, which acted on behalf of FEMA.
NEW YORK CITY — The International Gemological Institute (IGI) has inked a lease for 20,400 square feet of office space at 551 Fifth Ave. in New York City. IGI is the largest independent gemological laboratory in the world. The company will take over the entire seventh floor in the base of the 38-story tower this January. Jarod Stem of Studley represented the landlord, The Feil Organization, in the transaction. He also represented the tenant.
AUSTIN — A joint venture between New York City-based Hudson Realty Capital and Pomeroy Investment Corp. has sold the 172,637-square-foot Capitol Tower office building, a Class A tower located in Austin, for $49 million. The 20-story office property is located at 206 E. Ninth St. in Austin's Central Business District and includes a 736-space on-site parking garage. The joint venture launched a comprehensive $10 million renovation program following its purchase in 2006. The property is fully leased to tenants including an advertising agency, legal firms, technology companies and marketing agencies.
TUCSON, ARIZ. – The former Pella Corporation building in Tucson has sold to BH Pella Drive, LLC for $5.2 million. The buyer is an affiliate of BH Properties. The 260,000-square-foot manufacturing and warehouse facility, also known as the Aero Business Park, is located at 6700 South Pella Drive. BH Properties was represented by Steve Cohen and Russell Hall of Picor Commercial Real Estate Services. The seller, Pella Corporation, was represented by Chuck Pawlak of Binswanger.
LIVERMORE, CALIF. – Tech Park at North Canyons, a two-building, 145,220-square-foot office/R&D property in Livermore, has sold to an unnamed buyer for an undisclosed sum. The Class A property is located at 455 and 477 North Canyons Parkway. It is 65 percent occupied. Notable tenants include Nissan, Kraft and Caltrans. The seller, Prime Finance Partners, is represented by HFF’s Steven Golubchik and Mark Damiani.
WOBURN, MASS. — ProGen Corp. has signed a lease for 30,000 square feet of office, lab and manufacturing space at 35 Cabot Road in Woburn. ProGen develops and manufactures membranes used during processes such as filtration, gas separation and chemical absorption. The company plans to move in January from its nearby site at 6 Gill St. in Woburn. The landlord is Cummings Properties.
NEW YORK CITY — ABS Partners Real Estate has arranged the $3.2 million sale of a 15,000-square-foot office building on Hillside Avenue in Queens. Steven Solomon and Jason Kling of ABS Partners represented both parties in the transaction. Built in 1973, the three-story office building includes 25 parking spaces. The main tenant, Allen Health Care, will be vacating the building in November and the new ownership plans to renovate the building and offices.
SAN ANTONIO — HFF has secured acquisition financing for Network Crossing, a five-building, 143,831-square-foot office property located at 5252 Prue Road in San Antonio. The property is 89 percent leased. Mona Carlton and Robert Wooten of HFF arranged the 10-year loan through Northwestern Mutual on behalf of the borrower, Live Oak-Gottesman Co.
TUCSON, ARIZ. – The former Pella Corporation building in Tucson has sold to BH Pella Drive, LLC for $5.2 million. The buyer is an affiliate of BH Properties. The 260,000-square-foot manufacturing and warehouse facility, also known as the Aero Business Park, is located at 6700 South Pella Drive. BH Properties was represented by Steve Cohen and Russell Hall of Picor Commercial Real Estate Services. The seller, Pella Corporation, was represented by Chuck Pawlak of Binswanger.