Property Type

SECAUCUS, N.J. — Gaia Real Estate Investments has acquired 200 Plaza Drive, a fully-leased, recently renovated office building in Secaucus. Jeffrey Dunne, Kevin Welsh and Brian Schulz of CRBE’s New York Institutional Group represented the buyer, Gaia, and the seller, Hartz Mountain Industries Inc. The 249,863-square-foot building is fully leased to Ernst & Young. 200 Plaza Drive is a LEED-certified building and was redeveloped in 2008 with new base building systems, lobby, and façade renovation.

WAKEFIELD, MASS .— CTA Construction has completed the new $7 million Municipal Gas and Light Department building at 480 N. Ave. in Wakefield. CTA Construction worked with the Town of Wakefield and HKA Associates to provide demolition of the existing 15,000-square-foot building and construction of a new 30,000-square-foot facility. The new building provides department employees with spacious offices, open administrative areas, a large conference room, training room, large reception area, and kitchen and dining facilities.

QUINCY, MASS. — Jones Lang LaSalle has arranged the sale of 150 Newport Ave. in Quincy, 121,329-square-foot Class A office building, for $14 million. The four-story building is next to Granite’s 100 Newport Ave. building. Vice Presidents Tom Kent and Sean Lynch of Jones Lang LaSalle represented the buyer, Foxrock Granite LLC, while Normandy Real Estate Partners Principal Justin Krebs represented the seller, Normandy Newport Holdings LLC. Normandy Real Estate Partners currently manages a series of discretionary real estate funds totaling approximately $1.5 billion of equity commitments.