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| May 22, 2012 |
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| NAVY YARD TO CONSTRUCT $46M GREEN MANUFACTURING CENTER |
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NEW YORK CITY — The Brooklyn Navy Yard Development Corp. plans to invest $46 million to build a manufacturing center in the Navy Yard, which will focus on environmentally friendly tenants. The company recently announced two anchor tenants — Crye Precision and Macro Sea. Crye designs and manufactures body armor and apparel for the U.S. armed forces. The company received $1 million in funding to expand its current operations at the Navy Yard and agreed to lease 80,000 square feet. Macro Sea, a real estate developer, will lease more than 50,000 square feet for a new facility called New Lab. The space will promote innovative design and incorporate universities and businesses in a collaborative workspace. The Green Manufacturing Center will be housed in three former World War II-era machine shops. Major construction is set to begin this summer and will take approximately 18 months to complete.
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| MCCANDLESS CORPORATE CENTER TO ADD FIFTH BUILDING |
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PITTSBURGH — Cushman & Wakefield and Grant Street Associates have released plans for a 90,000-square-foot office building on the final lot at McCandless Corporate Center, a 322,000-square-foot office complex in Pittsburgh. Complex owner Zell Two Inc. is seeking to add a fifth building due to the rising demand for space at the center. Occupancy at McCandless Corporate Center has risen from 70 percent in 2009 to 99 percent at the end of the first quarter of this year. Construction of the building will follow the lease commitment of an anchor tenant and is slated to take approximately 18 months to complete.
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| MEDICAL OFFICE CONDO COLLECTS $1.5M IN TAUNTON, MASS. |
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TAUNTON, MASS. — Allergy & Asthma Care PC has purchased a 5,500-square-foot medical office condominium at 101 Industrial Park Road in Taunton for $1.5 million. The practice is relocating from Northwoods Medical Center in Taunton. Catherine Minnerly and Ovar Osvold of NAI Hunneman represented the seller, Myles Standish Medical Center, in the transaction. They also procured the buyer.
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| ROCKSTAR GAMES SIGNS 21,503 SF LEASE IN MASSACHUSETTS |
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ANDOVER, MASS. — Rockstar Games has signed a lease for 21,503 square feet of office space at 3 Dundee Park in Andover. Rockstar, one of the world's largest video game companies, is relocating from 300 Ballardvale St. in Andover and expanding its space in the 145,000-square-foot office park. The company's move-in date is targeted for August. Mitchell Jacoby of Cresa Boston represented the tenant in the transaction. The landlord, Ozzy Properties, was represented in-house by Orit Goldstein and Ellen Keller.
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| DEVELOPMENT CAPITAL SECURES $1.9M CONSTRUCTION LOAN |
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CRANBERRY TOWNSHIP, PA. — Development Capital Investors has secured a $1.9 million loan from the Commonwealth Financing Authority to develop a 90,000-square-foot office building in Cranberry Township. The three-story facility will be constructed on a six-acre parcel of land owned by The Elmhurst Group. The site is located within 20 minutes of downtown Pittsburgh and will include 363 parking spaces. The project is expected to create at least 300 construction jobs.
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Northeast
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