New York City

Communications equipment maker Harris Corp. is moving into a 17,460-square-foot space at 555 Fifth Ave. The tenant made the move from 99 Madison Ave. in order to be closer to its customer base while accommodating future growth, according to a release.UGL Equis' Tadd Wisinski and David Starr represented Harris in its search, while Peter Goldich of Atco Properties & Management provided in-house representation. Asking rent is $49 per square foot.

Adams & Co. recently brokered two lease renewals of 14,000 square feet each at 1071 Ave. of the Americas. Bardwil Industries and Pacific Coast Feather Co. each renewed for 10 years. David Levy and Jeffrey Schwartz of Adams & Co. represented the landlord in both deals. Studley spoke for Bradwil; Cushman & Wakefield represented Pacific Cast Feather. Asking rents for the two deals were $39 and $46 per square foot, respectively.

A trio of law firms, including Weinberger Singer PC, the law firm of Suite 2525 LLC and Thomas Puccio law office, all have renewed at 230 Park Ave. Largest of the three deals was Suite 2525's renewal and expansion for a total of 13,700 square feet. David Falk and Jason Greenstein of Newmark Knight Frank represented the tenant. Weinberger Singer and Thomas Puccio re-upped for 4,200 square feet and 2,350 square feet, respectively, with Jerry Suchman and Barbara Eddington of Winoker Reality representing Weinberger Singer. Monday Properties and CB Richard Ellis represented the ownership in all three deals.

Two five-story walk-up mixed-use buildings at 16-18 N. Moore St. have sold in an all- cash transaction valued at $8.1 million. This is approximately $525 per square foot and 12 times gross rent, says Massey Knakal Realty Services. "This is the only multifamily mixed-use building sale in TriBeCa in the last 18 months," says Massey Knakal's Nick Petkoff in a release. Petkoff handled the sale along with founding partner and chairman Robert A. Knakal. Buyer and seller were not disclosed.

Packaging firm Gammon Ragonesi Associates has paid $3 million for a 6,333-square-foot office condo at 131 W. 33rd St. GRA will occupy the entire 16th floor and will use the space for its offices. Brett Maslin and Joseph Friedman of Adams & Co. represented the tenant, while Time Equities' Michael Rudder and Mike Heller represented the seller.

Fairfield County, CT
Equity trading firm MKM Partners LLC has leased nearly 15,000 square feet of space at 300 First Stamford Pl. in Stamford, moving its headquarters from nearby 1 Sound Shore Dr. in Greenwich. Newmark Knight Frank's Brian Carcaterra, who represented MKM with colleague Paul Gojkovich, says in a release that the location and amenities were draws, as was the proposed build-out by Malkin Construction. Malkin Properties' Jeffrey Newman and Kimberly A. Zaccagnino represented the landlord.

[IMGCAP(2)]PepsiCo has become the newest tenant at Lee Farm Corporate Park in Danbury, leasing 10,665 square feet from owner Grosvenor Investment Management. Terms were not disclosed. Paul Jacobs of CB Richard Ellis spoke for PepsiCo, and D. Kyle Ely of Goodfellow Ashmore represented GIM. Lead tenant at the 215,000-square-foot property is General Electric.

New Jersey
Computing solutions provider Citrix Systems has signed a 10,518-square-foot lease at Mack-Cali Realty Corp.'s 35 Waterview Blvd in Parisppany. Jim Abarta, of Colliers International, and Scott Lawliss, of ColliersHouston & Co.—soon to be Cassidy Turley—represented the tenant. The class A property is now 90.9% leased, with 28,000 square feet available.

Greg Sholom and David Cantor of Team Resources Inc. recently represented Regal Wear in its $3.6-million acquisition of a 48,000-square-foot warehouse building in Carlstadt, located at 15 Triangle Blvd. CB Richard Ellis' Bill Waxman represented the seller, Ninth Avenue Equities.

NorthMarq Capital's Parsippany-based office has arranged $7.2 million worth of permanent loans for two Somerset County apartment complexes with 60 and 77 units, respectively. Jim Poole of Northmarq secured Fannie Mae financing through its affiliate, AmeriSphere Multifamily Finance. Pool tells GlobeSt.com, "Because of the relatively low LTV structure on these 10-year fixed-rate loans, full-term interest only was obtained."

Woburn, MA
Jones Lang LaSalle is selling 399 Washington St. here. The 5.6-acre redevelopment site was purchased by Nai Nan Ko from owner Argonaut Holdings for reportedly $5.3 million. The property is located on Route 128 and Interstate 93. Lannan Buick Pontiac formerly occupied the space.

Hartford, CTCornerstone Real Estate Advisers, LLC has acquired London-based Protego Real Estate Investors LLP, Protego Real Estate Investors Finance LLP and their subsidiaries. The purchase expands Cornerstone's entry into the European market. Protego's focus is primarily on office, retail and industrial properties.Chelmsford, MAIntegrated Builders have been awarded a 22,000-square-foot interior fit-up contract at 300 Apollo Dr. The fit-up will be for tenants MRV Communications, Inc., executed by the landlord Chelmsford Associates, LLC.

Additional reporting by Ryan Clark and Alyson Grala.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.