NEW HAVEN, CONN. — UOB Eagle Rock Multifamily Property Fund has acquired Wintergreen of Westville, a 294-unit apartment asset in New Haven. The newly developed community sold for $41.6 million, or approximately $141,000 per unit. The five-building community is located at 400 Blake St. and the average unit size is 1,100 square feet. Steve Witten and Victor Nolletti of Institutional Property Advisors represented the seller, SA Wintergreen LLC, in the transaction. They also represented the buyer.
CAMBRIDGE — Pegasystems has opened their new corporate headquarters at One Rogers Street in Cambridge. The technology company signed a 12-year lease for 162,000 square feet on the fourth, fifth and sixth floors of the property. One Rogers Street is a 252,000-square-foot Class A office building that adjoins One Charles Park. It features modern design and views of the Charles River. Jones Lang LaSalle represented the building owner, Principal Global Investors, in the transaction.
SYRACUSE, N.Y. — The 256-unit Clarendon Heights Apartments, a community located near the Syracuse University campus, has sold. The garden-style property was originally built in the 1970s and renovated in the late 1980s. Tenants include graduate students from Syracuse University, Upstate Medical University and working professionals. The new ownership is from Cortland, N.Y. and has hired DLH Properties to manage the property. Louis Fournier of The Sutton Cos. and Gail McDonough of Colliers International represented the seller in the transaction.
WEEKAPAUG, R.I. — New England Construction has completed the $20 million restoration of The Weekapaug Inn in Weekapaug. The company upgraded many of the property's features, while preserving the character of the original structure. The inn now features a private waste treatment facility, a new, three-lane pool and a newly constructed beach house that includes showers, changing areas and a restaurant. The original Weekapaug Inn was constructed in 1899, but was decimated by a hurricane in 1938. The following year, the Buffum family rebuilt the cabin in a new location. Weekapaug Inn & Cottages LLC purchased the property from the Buffum family in 2010.
SHARON, MASS. — Cintas Corp. has signed a lease for 27,750 square feet of industrial space at 1150 Providence Highway in Sharon. Cintas, which will occupy the entire building, is a publicly traded company that provides services to businesses such as promotional products, carpet cleaning and document management. The property is located at the junction of I-95 and Route 1. Catherine Minnerly and Ovar Osvold of NAI Hunneman represented the property owner, LL Sharon DC LLC, in the transaction. CBRE Group represented the tenant.
HOUSTON — Houston-based American Spectrum Realty has sold the 389,000-square-foot Beltway Industrial Park, a 23-building industrial complex located in northwest Houston off of Beltway 8 and West Little York. American Spectrum expects to gain approximately $5.5 million before income tax expenses.
GALVESTON — Coldwell Banker Commercial United, Realtors has arranged the sale of a 10-unit multifamily complex, located at 1927 Avenue M 1/2 in Galveston. Mike Chance of Coldwell Banker represented the seller, CMDS Commercial Investments, in the transaction. Lori Pederson of Shoal Point Properties represented the buyer, My Suncoast Properties.
RICHARDSON — Newport Beach, Calif.-based KBS Strategic Opportunity REIT has signed six new and expansion leases totaling 29,066 square feet in its Palisades Central II, a 16-story office tower located in Richardson. Farmer, Fuqua & Huff signed a new lease for 8,087 square feet, and Swalm & Associates signed a 1,978-square-foot lease. Duke Biggers of Swearingen Realty Group represented both firms in the lease transactions. GXS Inc. has signed a new 10,086-square-foot lease, and Brian Whittington of Cresa's Dallas office represented GXS. FCCI Insurance Group has leased 5,292 square feet, and Doug Carignan of Jones Lang LaSalle represented FCCI. Richard M. Witmer has leased a 2,041-square-foot suite and was self-represented in the transaction. American Energy Partners has expanded its lease by 1,665 square feet to occupy 6,073 square feet. American Energy Partners represented itself in the lease transaction. Sarah Catherine Norris and Mark Jordan of JP Realty Partners represented the landlord, KBS, in all six lease transactions.
SOUTHLAKE — Four retail merchants have signed leases for space at Southlake Town Square, an open-air lifestyle development located in Southlake. Daddy Jack's, a New England lobster house, has leased 4,820 square feet. The Ginger Man, Journey's and Motherhood Maternity have also leased space at the retail development. The tenants signed the leases with Town Square LP, a subsidiary of Retail Properties of America.
DALLAS — Newmark Grubb Knight Frank has leased 14,000 square feet of office space at the 173,000-square-foot Chateau Plaza, an office building located at 2515 McKinney Ave. in uptown Dallas. Sarah Erickson and Tommy Nelson of Stream Realty represented the landlord, JPMorgan, in the lease transaction. Newmark Grubb Knight Frank was self-represented by Seth Weinstein.
