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DOW CHEMICAL MOVES RESEARCH OPERATIONS TO COLLEGEVILLE
COLLEGEVILLE, PA. — The Dow Chemical Co. has agreed to move its Northeast USA Technology Center from Spring House, Pa. to Collegeville. The company plans to open a 750,000-square-foot research and development facility, located within the Pfizer Pharmaceutical campus on Acrola Road. Dow plans to relocate 800 employees, who will begin moving to the site as early as the first quarter of 2013.
FAIRWAY MARKET TO OPEN AT KIPS BAY PLAZA
NEW YORK CITY — Fairway Market has signed a lease for 42,000 square feet at Kips Bay Plaza, located at 542-580 Second Ave. in Manhattan. The grocery chain will occupy 2,000 square feet on the ground floor and 40,000 square feet in the basement. Fariway is replacing Office Depot and Crunch Gym within the plaza. Robert Futterman and Gary Alterman of RKF represented the tenant in the transaction. David Green of Cushman & Wakefield represented the landlord, DFD Development.
TECH FIRM MOVES HEADQUARTERS IN SECAUCUS
SECAUCUS, N.J. — ZT Systems has inked a lease for 23,451 square feet of office space in Secaucus, which will serve as the company's new headquarters. The building is located at 333 Meadowlands Parkway and the tech firm will occupy the entire second floor. Frank Lopriore of Colliers International represented the tenant in the transaction. Josh Osborne of Bergman Real Estate Group represented the building owner. Built in 1981, 333 Meadowlands is part of the Harmon Cove office complex. Other tenants in the park include MSNBC and Panasonic.
TWO WAYNE OFFICE BUILDINGS TO BE COMBINED INTO 272,000 SF PROPERTY
WAYNE, PA. — The Davis Cos. and MIM-Hayden Real Estate Funds plan to invest $16 million in building renovations to redesign two existing buildings at 530 and 580 E. Swedesford Road in Wayne. The owners plan to transform the property into 272,000 square feet of trophy-class office space known as CrossPoint at Valley Forge. CrossPoint will feature a conference center, 4,000-square-foot fitness center and a full-service cafe. Construction will begin this fall.
NORTHMARQ ARRANGES $6M FOR THE REFINANCING OF MORTON VILLAGE PLAZA
PLAINVIEW, N.J. — NorthMarq Capital has arranged $6 million for the first mortgage refinancing of Morton Village Plaza, a shopping center located at 998-1064 Old Country Road Plainview. Tenants at the 115,976-square-foot center include Shop Rite, CVS/pharmacy and Chase Bank. Melissa Quinn and Robert Rothaug of NorthMarq arranged the 10-year loan through a life insurance company.