Here is a roundup of the latest leases, sales and other transactions in the Northeast middle markets.

THIS WEEK BY THE NUMBERS

FAIRFIELD COUNTY, CT—After nearly 500,000 square feet of leasing transactions were completed in the office market here during the third quarter, demand persisted through the final three months of the year as an additional 475,200 square feet of leases were signed, according to a new report from JLL. Demand for Class A space was a recurring theme in Fairfield County during the past year. More than three-quarters of the 2.1 million square feet of leasing transactions completed in 2016 involved Class A product. The Fairfield County Class A vacancy rate subsequently retreated from 24.4% in 2015 to 21.2% one year later. The average asking Class A rental rate for direct space slipped 1.0 percent from the third quarter to less than $41.80 per square foot at year-end 2016. This decline can be attributed to the absorption of higher-priced Class A office space, which ultimately exerted downward pressures on the Fairfield County rental rate. With an average asking rent of $95.10 per square foot, the Greenwich CBD/Railroad submarket maintained the highest Class A rents in the Fairfield County office market.

DEALTRACKER DAILY

BOSTON—The Alzheimer's Association has inked two leases here with Waverley Oaks Park and its owner Duffy Properties. The organization is moving its offices from Watertown to 25,833 square feet at 307 Waverley Oaks Rd. and it is taking an additional 3,084 square feet of storage space at 411 Waverley Oaks Rd. NAI Hunneman EVP Steve James represented Duffy Properties while Robert Fitzgerald and Bill Crean of CBRE represented the Alzheimer's Association.

NEW YORK CITY—NADAP has signed a 10-year lease extension at its longtime Midtown location—355 Lexington Avenue. the Rudin Family's. The lease encompasses 16,000 square feet on the entire second floor at the 22-story, 250,000-square-foot tower. The Rudin Family property is located between East 40th Street and East 41st Streets in the Grand Central submarket. NADAP has been housed in the space since 1975. The new lease now extends through 2027. Robert Steinman, VP at Rudin Management Co., represented building ownership in the long-term transaction. Jason Greenstein of Newmark Grubb Knight Frank represented the tenant.

BOSTON, MA—Novaya Real Estate Ventures acquired Littleton Distribution Center, a 480,000-square-foot, Class A distribution facility in Littleton, MA.  Purchased for just over $41 million, the property is 88% leased and one of the few crossdock facilities in the local industrial market. The property's roster of credit national and regional tenants includes Colonial Systems, 1A Auto, Bureau Veritas and Curriculum Associates. JLL's Ed Jarosz and Rick Schuhwerk will represent Novaya on the leasing of the asset.

MONEY MOVES

NEWARK, NJ—Cohen Financial has closed a $42 million loan to refinance Centre Market Building here. Located downtown, near the Newark Penn Station, the 393,343 square-foot, customized office building is 90% occupied by three Federal Government tenants: US Customs and Border Protection, US Drug Enforcement Agency and US Social Security Administration. Dan Rosenberg, managing director, and Matt Terpstra, VP of Cohen Financial in the Chicago office, secured the fixed-rate, 10-year term CMBS loan to replace an existing CMBS loan. The borrower is an affiliate of Kaufman Jacobs, a Chicago-based real estate private equity firm and Cohen Financial client.

HARTFORD, CT—Thorofare Capital has provided an affiliate of Shelbourne Global Solutions with a $40 million floating-rate commercial mortgage for the acquisition of Metro Center, a 293,640-square-foot Class A office building here. The 12-story property is 100% percent occupied by tenants such as Lincoln Financial Group—an affiliate of financial holding company Lincoln National Corp.—and Cohn Reznick.  The non-recourse, interest-only loan carries a total term of five years, if fully extended.  The structure includes a TI/LC Reserve to cover leasing renewal costs.

Here is a roundup of the latest leases, sales and other transactions in the Northeast middle markets.

THIS WEEK BY THE NUMBERS

FAIRFIELD COUNTY, CT—After nearly 500,000 square feet of leasing transactions were completed in the office market here during the third quarter, demand persisted through the final three months of the year as an additional 475,200 square feet of leases were signed, according to a new report from JLL. Demand for Class A space was a recurring theme in Fairfield County during the past year. More than three-quarters of the 2.1 million square feet of leasing transactions completed in 2016 involved Class A product. The Fairfield County Class A vacancy rate subsequently retreated from 24.4% in 2015 to 21.2% one year later. The average asking Class A rental rate for direct space slipped 1.0 percent from the third quarter to less than $41.80 per square foot at year-end 2016. This decline can be attributed to the absorption of higher-priced Class A office space, which ultimately exerted downward pressures on the Fairfield County rental rate. With an average asking rent of $95.10 per square foot, the Greenwich CBD/Railroad submarket maintained the highest Class A rents in the Fairfield County office market.

DEALTRACKER DAILY

BOSTON—The Alzheimer's Association has inked two leases here with Waverley Oaks Park and its owner Duffy Properties. The organization is moving its offices from Watertown to 25,833 square feet at 307 Waverley Oaks Rd. and it is taking an additional 3,084 square feet of storage space at 411 Waverley Oaks Rd. NAI Hunneman EVP Steve James represented Duffy Properties while Robert Fitzgerald and Bill Crean of CBRE represented the Alzheimer's Association.

NEW YORK CITY—NADAP has signed a 10-year lease extension at its longtime Midtown location—355 Lexington Avenue. the Rudin Family's. The lease encompasses 16,000 square feet on the entire second floor at the 22-story, 250,000-square-foot tower. The Rudin Family property is located between East 40th Street and East 41st Streets in the Grand Central submarket. NADAP has been housed in the space since 1975. The new lease now extends through 2027. Robert Steinman, VP at Rudin Management Co., represented building ownership in the long-term transaction. Jason Greenstein of Newmark Grubb Knight Frank represented the tenant.

BOSTON, MA—Novaya Real Estate Ventures acquired Littleton Distribution Center, a 480,000-square-foot, Class A distribution facility in Littleton, MA.  Purchased for just over $41 million, the property is 88% leased and one of the few crossdock facilities in the local industrial market. The property's roster of credit national and regional tenants includes Colonial Systems, 1A Auto, Bureau Veritas and Curriculum Associates. JLL's Ed Jarosz and Rick Schuhwerk will represent Novaya on the leasing of the asset.

MONEY MOVES

NEWARK, NJ—Cohen Financial has closed a $42 million loan to refinance Centre Market Building here. Located downtown, near the Newark Penn Station, the 393,343 square-foot, customized office building is 90% occupied by three Federal Government tenants: US Customs and Border Protection, US Drug Enforcement Agency and US Social Security Administration. Dan Rosenberg, managing director, and Matt Terpstra, VP of Cohen Financial in the Chicago office, secured the fixed-rate, 10-year term CMBS loan to replace an existing CMBS loan. The borrower is an affiliate of Kaufman Jacobs, a Chicago-based real estate private equity firm and Cohen Financial client.

HARTFORD, CT—Thorofare Capital has provided an affiliate of Shelbourne Global Solutions with a $40 million floating-rate commercial mortgage for the acquisition of Metro Center, a 293,640-square-foot Class A office building here. The 12-story property is 100% percent occupied by tenants such as Lincoln Financial Group—an affiliate of financial holding company Lincoln National Corp.—and Cohn Reznick.  The non-recourse, interest-only loan carries a total term of five years, if fully extended.  The structure includes a TI/LC Reserve to cover leasing renewal costs.