NEW YORK CITY — Cambridge, Mass.-based biotechnology company Genzyme has renewed its 98,000-square-foot New York City office lease. The company occupies the fifth and sixth floors of 521-33 W. 57th St., located in Manhattan. The new lease carries a 10-year term. David Dusek, Peter Capuciati and Alex Blue of Studley represented Genzyme in lease negotiations. The landlord, an affiliate of Himmel + Meringoff Properties, was represented in-house by Mark Stein and Farrell Virga.
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DALLAS — Baton Rouge, La.-based MAPP Construction has completed the renovation of Ernst & Young’s Dallas offices. Construction consisted of the renovation of five floors and 141,749 square feet within the One Victory Park building at Victory Park. MAPP added administrative areas, conference rooms and Intermediate Distribution Frame rooms with security mesh above and below the floor. The project also is applying for LEED-Silver certification. Sustainable components include an indoor air-quality plan, the use of low-VOC paints and materials, and a recycling program for construction materials.
HOUSTON — Charlotte, N.C.-based Grandbridge Real Estate Capital LLC has arranged two permanent fixed-rate loans to refinance an office park in Houston. Harwin Business Center, which was built in the early 1970s, features 221,954 square feet of office space in multiple buildings at 7540-7596 Harwin Dr. Grandbridge arranged the financing on behalf of VIP Investment No. 5. A correspondent life insurance company structured both 5-year loans at a 6-percent interest rate with 25-year amortizations.
DALLAS — Dallas/Fort Worth-based Realty Capital Partners (RCP) recently invested $1.3 million (through its recently formed RCP Northwest Crossing, Ltd.) in the acquisition of four Class B flex office buildings in Dallas. Located at the intersection of Northwest Highway and Loop 12, the buildings total 127,037 square feet. Felder Property Group, which approached RCP about the equity investment opportunity in May, will manage and lease the buildings.
TIGARD, ORE. — Tualatin Valley Fire & Rescue has acquired Dartmouth Square, an office building located at 11945 SW 70th in Tigard, for $8.2 million. The three-story Class A property offers 38,000 square feet of office space. Chris Johnson, MaryKay West, John Medak and Jennifer Medak of NAI Norris, Beggs & Simpson represented the seller, Dartmouth Square LLC, in the transaction.
PORTLAND, ORE. — Ken Griggs and Paddy Ryan of NBS Financial Services has arranged a $5.5 million loan for the construction of a single-tenant office building in Portland. Located on NE Martin Luther King Jr. Boulevard, the 42,000-square-foot property is scheduled for completion at the end of the year. Washington Trust Bank provided the financing.
NAPLES, FLA. — Naples Lodge No. 2010 Benevolent and Protective Order Elks has sold a 27,474-square-foot building to Collier County for $3.5 million. The property stands on 6.74 acres of land at 3950 Radio Road in Naples. William Gonnering and Christine Gonnering Martin of Investment Properties Corp. of Naples brokered the sale.
NEW YORK CITY — Colliers ABR has negotiated a lease renewal and expansion at 595 Madison Avenue in Manhattan, New York City. Levin Capital Strategies, LP, an investment advisory firm, renewed and expanded its lease, taking 18,967 square feet on the 16th and 17th floors. David Hoffman of Colliers ABR represented Levin Capital Strategies in the transaction, and the building owner, Vornado Realty Trust, was represented by Glen Weiss and Ronald Lo Russo.
NEW YORK CITY — Greiner-Maltz has brokered a 5-year, 10,000-square-foot sublease for office space located at 33-10 Queens Blvd. in Long Island City in Queens, New York City. The space was subleased by FJC Security Company, the largest privately owned security company in America. Arie Zilka of Greiner-Maltz represented FJC Security Company, and George Margaronis and Decio Baio, both also of Greiner-Maltz, represented United Envelope in the transaction.
CRANBURY, N.J. — The Intent Group, a notebook computer wholesaler, has purchased a 10,000-square-foot condominium unit at the Matrix Corporate Campus in Cranbury. Owned by Matrix Development Group, the company recently acquired the campus from Preferred Unlimited, a Pennsylvania-based real estate investment firm. Located at Exit 8A of the New Jersey Turnpike, Matrix Corporate Campus contains more than 342,000 square feet of office, laboratory and flex space. Current tenants include the worldwide headquarters of Innophos Inc, a leading North American specialty phosphate producer.