Property Type

DEMOLITION STARTS FOR BURLINGTON MIXED-USE DEVELOPMENT

by admin December 13, 2011

BURLINGTON, MASS. —Norblom Co. has released plans for Third Avenue, a dining and entertainment destination, within its Northwest Park mixed-use development in Burlington. Infrastructure work to pave the way for Third Avenue is nearly finished and the project is scheduled to begin construction in the spring of 2012. Demolition will soon begin to accommodate 300,000 square feet of retail space through Third Avenue's first phase of development. The development will be anchored by Wegmans, a supermarket chain.

December 13, 2011

QPSI SIGNS 157,500-SQUARE-FOOT LEASE IN PENNSYLVANIA

by admin December 13, 2011

LOWER MACUNGIE, PA. — Quality Packaging Specialist International (QPSI) has signed a long-term lease for 157,500 square feet of industrial space at Lehigh Valley South, located at 7570 Industrial Park Way in Lower Macungie. Vince Ranalli and Joe McDermott of CBRE represented QPSI, a leader in packaging and supply chain logistics, in the deal. William Wolf and Sean Bleiler of CBRE represented the landlord, Clarion Partners.

December 13, 2011

Industrial Northeast

KS PARTNERS SIGNS TWO TENANTS IN MASSACHUSETTS

by admin December 13, 2011

CHELMSFORD, MASS. — KS Partners has signed Airvana Inc. to a lease renewal for 63,220 square feet and Krueger Food Labs to an 11,411-square-foot lease at 19-21 Alpha Rd. in Chelmsford. Peter Richardson and Troy Coady of Jones Lang Lasalle represented KS Partners, the landlord, in both transactions. John Wilson of Richards Barry Joyce represented Airvana Inc. Micah Stubblebine of the Stubblebine Co. represented Krueger.

December 13, 2011

Northeast Office

ING CLOSES $43 MILLION LOAN FOR PITTSBURGH OFFICE TOWER

by admin December 13, 2011

PITTSBURGH — ING Real Estate Finance has closed a $43 million loan for GLL Real Estate Partners, a Munich-based real estate funds management group. The loan was used to refinance a portion of the acquisition costs for 11 Stanwix St., a 24-story office tower in Pittsburgh. ING was the sole lead arranger and administrative agent in the transaction.

December 13, 2011

Northeast Office

ADVANCE HOUSING SIGNS LEASE FOR NEW HEADQUARTERS IN NEW JERSEY

by admin December 13, 2011

TETERBORO, N.J. —Advance Housing, a state-funded community housing development organization, has leased 14,000 square feet for its headquarters at 100 Hollister Rd. in Teterboro. The agency will relocate from Hackensack, N.J. in an expansion move this winter. Curtis Foster of Cushman & Wakefield's East Rutherford, N.J. office represented Advance Housing in the transaction. Michael Marchese of Newmark Knight Frank represented the landlord, KTR Capital Partners.

December 13, 2011

Office Texas

EQUITY OFFICE TAPS CASSIDY TURLEY TO LEASE 430,000 SQUARE FEET

by admin December 13, 2011

DALLAS — Equity Office Properties has retained Cassidy Turley to lease and manage 430,000 square feet of office space in the Dallas area, including Cedar Maple Plaza I, II and III (120,000 square feet) in Dallas, Duke Bridges III (160,000 square feet) in Frisco and 5556 and 5560 Tennyson Pkwy. (150,000 square feet) in Plano. The majority of these properties were part of The Blackstone Group's acquisition of Duke Realty's 10 million-square-foot office portfolio. Bret Bunnett of Cassidy Turley's Dallas office and Randy Stephens of the the firm's Columbus, Ohio, office took part in the interview process which won Cassidy Turley the assignment. Cassidy Turley is currently handling the leasing for another 500,000 square feet for Equity Office Properties, which brings the total for Cassidy Turley to nearly 1 million square feet.

December 13, 2011

Industrial Texas

SOUTHWIRE CO. SIGNS 242,370-SQUARE-FOOT LEASE IN ARLINGTON

by admin December 13, 2011

ARLINGTON — Southwire Co. has leased 242,370 square feet of industrial space at Arlington Commerce Center, located at 4925 New York Ave. in Arlington. Allen Gump and Noel Hutcheson of Colliers International's Dallas office represented the tenant in the lease transaction. John Leinbaugh of Industrial Developments International's Dallas office represented the landlord.

December 13, 2011

Office Texas

TWO LEASES BRING OFFICE BUILDING TO FULL OCCUPANCY

by admin December 13, 2011

THE WOODLANDS — An unnamed oil and gas company and Fleetpride have leased 47,152 square feet and 22,579 square feet, respectively, at 8401 New Trails Office Building in The Woodlands. The two new leases combine for 69,731 square feet and bring the building to full occupancy. Joe Dalak of TIG Real Estate Services represented the landlord, Creekstone 8401 New Trails, in the lease transactions. Jim Landsaw of Fisher & Co. represented Fleetpride in one transaction, and Damon Palermo of Palermo REI represented the oil and gas company.

December 13, 2011

Retail Western

WALGREENS PROPERTY IN LAKE ELSINORE SELLS FOR $8M

by admin December 13, 2011

LAKE ELSINORE, CALIF. — A single-tenant Walgreens location in Lake Elsinore has sold to a private investor from Palm Desert, Calif., for $8,086,409. It sold at a 6.48 percent cap rate. The 13,678-square-foot building was constructed in 2011 on a 1.57-acre parcel at 31781 Mission Trail Road. It is leased to Walgreens for 75 years. Hanley Investment Group Real Estate Advisors’ William B. Asher and Jeremy S. McChesney represented both the buyer and the seller, a private investor from Seal Beach, Calif., in this transaction.

December 13, 2011

Retail Western

ARAPAHOE CROSSINGS ADDS TWO RETAILERS

by admin December 13, 2011

AURORA, COLO. — Arapahoe Crossings is adding two more retailers to its roster. Gordmans is set to open a 55,000-square-foot store at the Aurora shopping center in fall 2012, while Chuck and Don’s Pet Food Outlet will debut a 7,000-square-foot location in early 2012. The center will boast an occupancy rate of more than 90 percent with the addition of these two tenants. Gordmans was represented by Allan Murow of Noddle Companies. Chuck and Don’s was represented by Carl Luppens of Nordic Land Company. Brixmor’s Paul Sheppard represented Arapahoe Crossings in these transactions.

December 13, 2011

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