REBusinessOnline.com

May 25, 2012

HAMPSHIRE COS. SELLS 299,625 SF INDUSTRIAL BUILDING
CARTERET, N.J. — The Hampshire Cos. has sold a 299,625-square-foot industrial building at 2-8 Germak Dr. in Carteret to A.J. Richard & Sons. The building is situated on more than 15 acres in one of New Jersey's prime distribution markets, offering access to the Port of New York/New Jersey and Newark Liberty International Airport. The Hampshire Cos. acquired the property in 2008, fully leasing it to A.J. Richard & Sons, a family-owned appliance and electronics company. Cassidy Turley represented The Hampshire Cos. in the transaction. Studley represented the buyer.


HUDSON REALTY FUNDS $5.7M FIRST MORTGAGE LOAN
NEW YORK CITY — Hudson Realty Capital has funded a $5.2 million first mortgage loan, secured by a 13,707-square-foot, mixed-use building in Manhattan's Nolita neighborhood. The 15-unit building is fully occupied. The sponsor used the funds to recapitalize the property's maturing debt and establish operating reserves.


LEHIGH VALLEY EXPRESS LEASES FLEX SPACE IN ALLENTOWN
ALLENTOWN, PA. — Lehigh Valley Express, a trucking storage and specialized freight company, has signed a lease for 17,800 square feet of flex space at 6690 Grant Way in Allentown. The lease marks the company's second Lehigh Valley location. Jay Haines of NAI Summit represented the tenant in the transaction.


UPGRADES COMPLETE FOR ATLANTIC CITY APARTMENT BUILDING
ATLANTIC CITY, N.J. — Renovations are complete at Vermont Plaza Apartments, a 15-story apartment building at 130 S. Vermont Ave. in Atlantic City. River Drive Construction Co. served as general contractor for the project on behalf of Sencit Vermont Associates LP. The project included substantial roof replacement and upgrades as well as parking garage improvements. Feinberg & Associates PC was the architect. The Vermont Plaza is located next to the Revel Casino and Resort and the Atlantic City Lighthouse.


WEETABIX INKS LEASE AT MARLBOROUGH TECHNOLOGY PARK
MARLBOROUGH, MASS. — Weetabix has signed a lease for 14,907 square feet of office space at the Marlborough Technology Park. Weetabix, a United Kingdom-based breakfast cereal manufacturer, will relocate to 300 Nickerson Rd. from Clinton, Mass. John Lashar, Paul Leone and Samantha Howell of Richards Barry Joyce & Partners LLC represented the landlord, Normandy Real Estate Partners, in the transaction. Jones Lang LaSalle represented the tenant.

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