Property Type

Himmel + Meringoff, The Swig Company Select MdeAS Architects to Redevelop 1460 Broadway

by Amy Works March 12, 2015

NEW YORK CITY — Himmel + Meringoff and The Swig Company, co-owners of 1460 Broadway, have selected MdeAS Architects to redevelop and reposition the 16-story mixed-use office tower in New York City. Planned renovations and construction for the 215,000-square-foot building include an office component, renovations to the 35,000-square-foot ground- and lower-ground retail space, a new three-story glass façade, new retail storefronts and a revitalized building entry. Construction for the property’s office component is scheduled to begin in April, and renovation to the retail space is expected to end by 2015.

March 12, 2015

Mixed-Use New Jersey Northeast

JV Acquires Mixed-Use Property in Central New Jersey for $6.2M

by Amy Works March 12, 2015

EWING TOWNSHIP, N.J. — A joint venture between Black Oak Associates and Broad Oak Partners has acquired a 98,000-square-foot mixed-use property located at 1600 N. Olden Ave. in Ewing Township. 1600 Olden LLC sold the property for $6.2 million. Family Dollar and the State of New Jersey Department of Motor Vehicles anchor the property, which offers a mix of retail, office and flex space. At the time of sale, the property was 70 percent occupied. The acquisition is the third in Black Oak’s investment fund vehicle, Black Oak IV LP. David Bernhaut of Cushman & Wakefield represented the seller in the transaction.

March 12, 2015

Massachusetts Northeast Office

Hertz Investment Group Buys 218,625 SF Office Building in Massachusetts

by Amy Works March 12, 2015

WORCESTER, MASS. — Hertz Investment Group has acquired Chestnut Place, a two-building office complex located in Worcester’s central business district. The 218,625-square-foot asset, including One Chestnut Place and Two Chestnut Place, sold for $14 million. Constructed in 1990, the 183,781-square-foot One Chestnut Place is currently 98 percent leased to tenants, including Fallon Community Health, UBS Financial Services and Sullivan Group Insurance. Two Chestnut Place, which was built in the 1800s, features 38,844 square feet of Class B office space. Two levels of underground parking and an outdoor plaza connect the two buildings.

March 12, 2015

New Jersey Northeast Office

Langan Engineering Leases 71,500 SF at 300 Kimball Drive in New Jersey

by Amy Works March 12, 2015

PARSIPPANY, N.J. — Transwestern has brokered a 71,500-square-foot lease for Langan Engineering at the newly redeveloped 300 Kimball Drive in Parsippany. Additionally, Transwestern will oversee construction management services, on behalf of the landlord, for the fit-out of Langan’s space. 300 Kimball Drive recently underwent an extensive capital improvement program that transformed the single-tenant building into a multi-tenant office facility. Designed by Gensler, the redeveloped building features stainless steel pillars, polished Italian marble flooring, Shaw carpet tiles and wood wall coverings. Additionally, the renovation included upgrading the lobby, bistro and adding a fitness center with cardio and weight machines, free weights, yoga space and flat-screen televisions. Terms of the lease were not disclosed.

March 12, 2015

Industrial New Jersey Northeast

DTZ Brokers 63,500 SF Industrial Lease in Hamilton, N.J.

by Amy Works March 12, 2015

HAMILTON, N.J. — DTZ has brokered a 63,500-square-foot lease for industrial space within the Hamilton Business Center at 8 Marlen Dr. in Hamilton. Global Essence, a provider of high-quality natural ingredients for fragrance, flavoring, beauty and household products, plans to use the space as corporate headquarters and an operations facility. Robin Ritter-Ceriello and Larry Casey of DTZ represented the tenant, while Steve Tolkach and Dov Sortzkin of Newmark Grubb Knight Frank represented the landlord, Hamilton Business Center, in the transaction.

March 12, 2015

Colorado Multifamily Seniors Housing Student Housing Western

Bethany Rehabilitation Center in Lakewood Sells for $17.9M

by Nellie Day March 12, 2015

LAKEWOOD, COLO. – Bethany Rehabilitation Center, a 56,502-square-foot skilled nursing facility in Lakewood, has sold to CareTrust for $17.9 million. The center is located at 5301 West 1st Ave., about five miles southwest of Denver. The property was built in 1969. It has 170 active beds and is licensed for 50 additional beds. CareTrust entered into a triple-net lease with Eduro Healthcare LLC, which took over operations on Feb. 1. The seller was represented by Mark Myers, Joshua Jandris and Charles Hilding of Institutional Property Advisors. Richard Bird of Marcus & Millichap’s Denver office was the firm’s broker of record in Colorado.

March 12, 2015

California Industrial Western

O’Neill Logistics Leases Industrial Space in Los Angeles

by Nellie Day March 12, 2015

LOS ANGELES – O’Neill Logistics has leased Hathaway Industrial Park, a 288,000-square-foot industrial facility in Los Angeles. The five-year lease is valued at $6.7 million. The space is located at 11811-11831 E. Florence Ave. in the Santa Fe Springs submarket. It was built in 1984. O’Neill Logistics is a third-party logistics company specializing in apparel and consumer goods products. O’Neill was represented by Dillon Dummit and Wayne Lamb of Cresa Orange County. The landlord, Westcore Properties, was represented by Luke McDaniel, Cameron Driscoll and Zac Sakowski of Jones Lang LaSalle.

March 12, 2015

California Retail Western

Cambrian Park Plaza in San Jose Changes Hands

by Nellie Day March 12, 2015

SAN JOSE, CALIF. – Cambrian Park Plaza, a 170,000-square-foot shopping center in San Jose, has sold to Weingarten Realty Investors for an undisclosed sum. The property is located at 14900 Camden Ave. Notable tenants include Dollar Tree and BevMo! The center serves San Jose, Los Gatos, Campbell and Saratoga.

March 12, 2015

California Multifamily Western

San Diego Apartment Building Sells for $6.2M

by Nellie Day March 12, 2015

SAN DIEGO – An 18-unit apartment building in San Diego has sold to Allen Properties Group 43 for $6.2 million. The community is located at 1941 Columbia Street. Peter Scepanovic and Corey McHenry of Colliers International’s Multifamily Advisory Group represented both the buyer and seller, Westventures LP, in this transaction.

March 12, 2015

Office Oregon Western

GBD Architects Renews, Expands at Brewery Blocks II in Portland

by Nellie Day March 12, 2015

PORTLAND, ORE. – GBD Architects has renewed its lease and expanded its space at the Brewery Blocks II in Portland. The five-block retail and office center is located at 1477 Northwest Everett Street in the city’s Pearl District. GBD was represented by Chris Johnson, MaryKay West and Carter Beyl of NAI Norris, Beggs & Simpson. The landlord, MEPT Brewery Block 2 LLC, was represented by Eric Haskins of Jones Lang LaSalle.

March 12, 2015

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