Office

Miller Construction Completes Second Phase of $25M Industrial Park in South Florida

by Taylor Williams March 17, 2017

HIALEAH, FLA. — Miller Construction Co. has completed the second phase of Centergate at Gratigny, a $25 million industrial development located at the intersection in Hialeah. Situated on 30 acres at the intersection of Gratigny Parkway and LeJeune Road, the new construction spans two buildings and 602,657 square feet. Fairchild Partners, a Miami-based brokerage firm, will oversee leasing of the property, which will feature Class A office, an air-conditioned mezzanine and security-controlled access for all bays. RLC Architects of Boca Raton designed the two 301,000-foot buildings that comprise the second phase of development.

March 17, 2017

Healthcare Mixed-Use Multifamily New York Northeast Office Retail

Eastern Consolidated Arranges $38.5M Construction Loan for Mixed-Use Property in NYC

by Haisten Willis March 17, 2017

NEW YORK CITY — Eastern Consolidated’s capital advisory division has arranged a $38.5 million construction loan for a 176,130-square-foot mixed-use development at 178-02 Hillside Ave. in Jamaica, Queens. The project will include 131 apartments on floors three through eight, over 10,000 square feet of retail space for a pharmacy, a 25,000-square-foot medical office space on the lower level and a public parking facility. Eastern Consolidated’s Adam Hakim, Andrew Iadeluca and James Murad arranged the transaction with Bank of the Ozarks on behalf of the borrower, Piermont Properties. Located at the northern end of Jamaica, 178-02 Hillside Ave. offers 200 feet of frontage. The corner site is adjacent to the neighborhoods of Jamaica Hills and Jamaica Estates, and above the F-Train 179 Street/Hillside Avenue Subway station.

March 17, 2017

Connecticut Healthcare Northeast Office

Vidal/Wettenstein Brokers $2.6M Sale of Medical Office Building in Westport, Conn.

by Haisten Willis March 17, 2017

WESTPORT, CONN. — David Fugitt of Westport-based Vidal/Wettenstein LLC has arranged the $2.6 million sale of 18-26 Imperial Ave. located in downtown Westport. The property is a fully leased five-building medical complex with a total of 7,428 rentable square feet. Amalgamated Realty Company LLC was the seller and Greens Farms Centre Associates was the buyer. Fugitt was the sole broker involved in the transaction.

March 17, 2017

Industrial Massachusetts Northeast Office

Stubblebine/CORFAC, Atlantic Commercial Arrange $3.6M Sale Office/Warehouse in Massachusetts

by Haisten Willis March 17, 2017

NORTH ATTLEBORO, MASS. — Stubblebine Co./CORFAC International and Atlantic Commercial Real Estate LLC have arranged the sale of 20 Alice Agnew Dr. in North Attleboro for $3.6M. HTI Medical purchased the property, a 44,450-square-foot office/warehouse building. David Stubblebine, James Stubblebine and Rob Stave of Stubblebine Co., represented the seller, Mercury Trading International, and Mark Kearins of Atlantic Commercial Real Estate LLC represented the buyer. 20 Alice Agnew Drive is the former home of Mercury Trading International and is located in the North Attleboro Industrial Park. HTI Medical was established in 1997 as a provider of clinical laboratory and ultrasound equipment.

March 17, 2017

Illinois Midwest Office

Riddell Signs 27,000 SF Office Lease in Des Plaines, Illinois

by Kristin Harlow March 17, 2017

DES PLAINES, ILL. — Riddell Inc. has signed approximately a 27,000-square-foot office lease in Des Plaines, about 20 miles northwest of Chicago. The producer of football helmets and protective equipment will occupy the space at 1700 W. Higgins Road. The new location will serve as the company’s headquarters and also feature a testing lab to advance the design and development of football gear. Riddell will be vacating its current space located at 9801 W. Higgins Ave. in Rosemont later this year. Jon Springer, Paul Diederich and Andrew Kaplan of CBRE represented Riddell in the lease transaction.

March 17, 2017

Michigan Midwest Office

Clear Rate Communications Enters Into 16,201 SF Office Lease in Troy, Michigan

by Kristin Harlow March 17, 2017

TROY, MICH. — Clear Rate Communications has entered into a 16,201-square-foot office lease in Troy. The telecommunication services provider will occupy the Class A space located at 2600 W. Big Beaver Road. Kevin Jappaya of KJ Commercial represented Clear Rate Communications in the lease transaction. Jeffrey Bell and Daniel Morse of CBRE represented the landlord, Sovereign Partners.

March 17, 2017

New Jersey Northeast Office Top Stories

Mack-Cali Acquires 1.1 MSF Office Portfolio in New Jersey for $368M

by Kristin Harlow March 17, 2017

MADISON AND SHORT HILLS, N.J. — Mack-Cali Realty Corp. (NYSE: CLI) has acquired a 1.1 million-square-foot office portfolio that includes six Class A properties in northern New Jersey for $368 million. The sales price of the portfolio is one of the highest ever recorded statewide in the office sector, according to a news release. RXR Realty LLC sold the portfolio, which includes 1, 3 and 7 Giralda Farms in Madison and 51, 101 and 103 JFK Parkway in Short Hills. The portfolio is 91 percent leased to tenants such as KPMG, Wells Fargo, Merrill Lynch, UBS, Dun & Bradstreet, Investors Bank, Citibank, Franklin Mutual Advisors, Pfizer and Prudential. All of the properties are located in the Route 24 corridor and benefit from a strong retail amenity base, including The Mall at Short Hills, the downtown areas of Morristown, Madison and Summit and the retail offerings along Route 10. “This acquisition signifies Mack-Cali’s substantially expanded presence in the affluent Short Hills submarket — positioning us as the owner of nearly all of the Class A office space, as well as some of the most premier assets in the Madison submarket,” said Michael J. DeMarco, president of Mack-Cali, in a press release. “This transaction exemplifies …

March 17, 2017

Office Texas

Cushman & Wakefield Negotiates 59,859 SF Office Lease in Carrollton, Texas

by Taylor Williams March 16, 2017

CARROLLTON, TEXAS — Cushman & Wakefield has arranged a 59,859-square-foot lease at Metroplex Tech Center, a 105,000-square-foot office property located at 3000 Kellway Drive in the north Dallas suburb of Carrollton. Dean Collins and Mark Collins of Cushman & Wakefield represented the subleasing tenant, mortgage loan servicing firm Fay Servicing, in the transaction. Bret Hefton and Greg Langston of Avison Young represented the original tenant, Securus Technologies, which leased the space from Hudson Advisors, the property owner.

March 16, 2017

Industrial New York Northeast Office

New Project LLC Purchases Office/Warehouse Building in Brooklyn

by Haisten Willis March 16, 2017

NEW YORK CITY — New Project, a Brooklyn-based fabrication company specializing in museum, exhibition and commercial design/build projects, has purchased a 12,500-square-foot, two-story building in the Greenwood neighborhood of Brooklyn. With the purchase, the company will combine its administrative offices, metal and finish shop, and woodworking facilities into one location at 223 25th St. Since New Project’s founding in 2004, the company has grown from two employees to more than 30. Over the last five years, the firm has experienced a 376 percent growth in revenue. New Project will move to its new location in spring 2017.

March 16, 2017

New York Northeast Office

Ricoh USA Leases 30,469 SF of Office Space in NYC

by Haisten Willis March 16, 2017

NEW YORK CITY — Ricoh USA has signed a 10-year lease for a 30,469-square-foot office space at 711 Third Ave. in New York City. SL Green is the landlord. Ricoh USA will consolidate into 711 Third Ave. from three other Manhattan buildings. Located one block east of Grand Central Terminal, 711 Third Ave. features a mosaic mural designed by expressionist Hans Hofmann in the lobby. The building was recently renovated with new elevator cabs, windows, corridors and restrooms. Other tenants include McKinsey & Co., Goldberg Segalia and Ackman Ziff. CBRE’s Joseph Mangiacotti, Carolyn Sica and Kurt Burdack represented Ricoh USA, while Howard Tenenbaum and Gary Rosen represented the landlord in-house at SL Green.

March 16, 2017

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