Here is a roundup of the latest leases, sales and other transactions in the Northeast middle markets.
NEWS & NOTABLES
PARSIPPANY, NJ—Noah Balanoff has joined Colliers International Group here as executive managing director, focusing on the industrial platform. He joins the firm from CBRE, where he was serving as SVP representing institutional property owners, as well as national and regional companies, in their industrial and supply chain/logistics-related requirements. Prior to joining CBRE, he was an associate director with Cushman & Wakefield in New Jersey, where he was a member of the industrial transactions and global supply chain solutions practice groups. His specialty is the sales and leasing of warehouse and distribution facilities with a focus on the New Jersey Turnpike corridor, primarily in the Interchange 8A/7A, Port Newark/Elizabeth and Meadowlands submarkets.
DEALTRACKER DAILY
WAREHAM, MA—T. Marzetti Co., a subsidiary of Lancaster Colony Corp., has expanded its 70,000-square-foot space at 20 Kendrick Rd. with an additional 50,000 square feet. David and James Stubblebine, principals of The Stubblebine Co., represented both the landlord, Malden Frame Realty Trust, and the tenant in the transaction. In 2012, Stubblebine also represented both parties in the initial lease.
BRIDGEPORT, CT—Shelbourne Global Solutions has closed eight deals—totaling more than 47,500 square feet—at 1000 Lafayette Blvd., its Class A office building here. Avison Young principal and managing director of the Fairfield/Westchester office Sean Cahill and VP Lori Baker marketed the space at the 11-story, 215,000-square-foot property. COWI, an engineering consulting firm, has signed a new lease for 8,204 square feet. Other new tenants include law firms White Rose and Ryan Ryan & Deluca, Beacon Health Options, and IDT Telecom, a pioneer in prepaid and VolP telephony. The law firm of Zeldes Needle Cooper and CASCO Products Corp. also renewed their leases.
NEW YORK CITY—Settlement Housing Fund—a nonprofit affordable housing developer—has signed a 10-year, 11,135-square-foot renewal at 247 W. 37th St. The 18-story, 214,130-square-foot office building is located in Midtown's Garment District. Landlord Newmark Holdings was represented in-house by Matthew Mandell. The firm also acted on behalf of the tenant.
MONEY MOVES
MATAWAN, NJ—Meridian Capital Group has arranged $33.8 million in agency financing for the purchase of the Sutton Pointe multifamily property here. The 10-year Freddie Mac loan, provided by Capital One Multifamily Finance, features a floating rate of 2.73% over the 30-day LIBOR rate and three years of interest-only payments. This transaction was negotiated by Meridian SVP Russ Drebin, who is based in the company's Iselin, NJ office. Located at Two Sutton Dr., Sutton Pointe is a two-story, 241-unit garden-style apartment complex off of the Garden State Parkway at Exit 120.
NEW YORK CITY—Savills Studley has arranged the $18.2 million purchase of a 20,285-square-foot commercial condominium at 866 United Nations Plaza in Midtown East. The buyer, the Permanent Mission of the Republic of Kenya, was represented by the brokerage firm's senior managing director Patrick Gardner and managing director Nancy Weinstein. Michael Rudder represented the seller, Meadow Partners.
BOSTON—NAI Hunneman, a leading provider of commercial real estate services, recently brokered the $5.3 million sale of 4345 Washington St., a 26-unit apartment building in Roslindale, MA. EVP Robert Tito and assistant VP Gina Barroso represented the seller Lynnshore Associates, who purchased the property from NAI Hunneman back in 2005, and procured the buyer, Aeneas 4.
Here is a roundup of the latest leases, sales and other transactions in the Northeast middle markets.
NEWS & NOTABLES
PARSIPPANY, NJ—Noah Balanoff has joined Colliers International Group here as executive managing director, focusing on the industrial platform. He joins the firm from CBRE, where he was serving as SVP representing institutional property owners, as well as national and regional companies, in their industrial and supply chain/logistics-related requirements. Prior to joining CBRE, he was an associate director with Cushman & Wakefield in New Jersey, where he was a member of the industrial transactions and global supply chain solutions practice groups. His specialty is the sales and leasing of warehouse and distribution facilities with a focus on the New Jersey Turnpike corridor, primarily in the Interchange 8A/7A, Port Newark/Elizabeth and Meadowlands submarkets.
DEALTRACKER DAILY
WAREHAM, MA—T. Marzetti Co., a subsidiary of Lancaster Colony Corp., has expanded its 70,000-square-foot space at 20 Kendrick Rd. with an additional 50,000 square feet. David and James Stubblebine, principals of The Stubblebine Co., represented both the landlord, Malden Frame Realty Trust, and the tenant in the transaction. In 2012, Stubblebine also represented both parties in the initial lease.
BRIDGEPORT, CT—Shelbourne Global Solutions has closed eight deals—totaling more than 47,500 square feet—at 1000 Lafayette Blvd., its Class A office building here. Avison Young principal and managing director of the Fairfield/Westchester office Sean Cahill and VP Lori Baker marketed the space at the 11-story, 215,000-square-foot property. COWI, an engineering consulting firm, has signed a new lease for 8,204 square feet. Other new tenants include law firms White Rose and Ryan Ryan & Deluca, Beacon Health Options, and IDT Telecom, a pioneer in prepaid and VolP telephony. The law firm of
MONEY MOVES
MATAWAN, NJ—Meridian Capital Group has arranged $33.8 million in agency financing for the purchase of the Sutton Pointe multifamily property here. The 10-year
BOSTON—NAI Hunneman, a leading provider of commercial real estate services, recently brokered the $5.3 million sale of 4345 Washington St., a 26-unit apartment building in Roslindale, MA. EVP Robert Tito and assistant VP Gina Barroso represented the seller Lynnshore Associates, who purchased the property from NAI Hunneman back in 2005, and procured the buyer, Aeneas 4.
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