Tech Distributor Lands 47,000-SF Berth

Boston

Technology distributor Avnet Inc. has signed a new 47,124-square-foot lease at 400 Riverpark Dr. in North Reading, MA. It plans to move into the 150,000-square-foot office property in October. A CB Richard Ellis team of David Pergola, Mark Reardon and Jason Levendusky represented landlord DivcoWest/Taurus Investment Holdings. Matt Daniels and Chris Lawrence of Colliers Meredith & Grew negotiated for Avnet.

Owner/developer the Abbey Group has secured a $26-million refinancing of its Landmark Square, a 132-unit multifamily property in Boston’s Back Bay/Fenway area. Terms were not disclosed. Greg LaBine and Porter Terry from Holliday Fenoglio Fowler’s Boston office secured the fixed-rate loan from Prudential Mortgage Capital Co.

New York City

Conway has leased a new 36,000-square-foot retail store at 427 Fulton St. in Brooklyn. Winick Realty Group’s Zachary Mishaan represented both Conway and landlord 427 Sassco Ltd. in a long-term lease transaction, in which the discount clothing chain is relocating from its existing store at 503 Fulton St. The new store is Conway’s flagship outside of Manhattan.

Duane Reade is speaking for the last remaining retail space at the Corner at 72nd Street and Broadway on Manhattan’s Upper West Side. The drug store chain will take 15,000 square feet of space on the second floor of the new residential rental development. A Crown Retail Services team represented developers Philips International and Rhodes NY, while Jeffrey Winick of Winick Realty represented Duane Reade in the lease transaction.

Bay Ridge Auto, a Ford Motor Co. franchise dealer, has leased a 7,500-square-foot building at 612 86th St. in Brooklyn. Formerly a Blockbuster Video location, the space will contain a Ford showroom and dealership. Bob Klein of Kalmon Dolgin Affiliates represented both the tenant and the owners, Eugene and Seymour Hionas, in the 25-year deal.

Online content provider Break Media has taken 4,200 square feet of office space in a three-year lease at 3 W. 18th St. Asking rent was $35 per square foot.  Elliot Warren of The Kaufman Organization represented the tenant in the transaction while Yitzhak Loria of Yitzhak Loria Management represented landlord 3-5 West 18th LLC.

Massey Knakal Realty Services, which closed on a pair of property sales in Brooklyn earlier this week, has been retained to sell the original Williamsburgh Savings Bank Building at 151-175 Broadway in Brooklyn’s Williamsburg section. The 28,495-square-foot landmarked property, which dates from 1875, has been used as a bank branch by owner HSBC since the mid 1990s. It’s reportedly the first time the property has come onto the market. “The fact that this building has a unique historical angle just adds onto an otherwise interesting offering of a large building in a great location,” says Massey Knakal’s Mark Lively in a release. The other well-known Brooklyn property bearing the name of the now-defunct Williamsburgh Savings Bank is a 512-foot tower at 1 Hanson Pl., the second-tallest building in the borough.

Long Island

Food Parade, d/b/a ShopRite, has signed a 20-year extension of its anchor lease at the Plainview Shopping Center, at the intersection of South Oyster Bay Road and Woodbury Road in Plainview, NY. The 47,000-square-foot space reportedly boasts one of the highest per-square-foot sales rates on Long Island. Frederick Fish of landlord TREECO represented the ownership and negotiated with Food Parade.

Westchester County

Johnson Capital’s Bruce Whipple has arranged a $15.5-million, 10-year first mortgage on behalf of the ownership of Westchester Square Shopping Center in Hartsdale. The borrower, a private entity, was not disclosed; the lender is a major insurance company that had not originated a loan in over two years. Completed in 1981, the 102,650-square-foot center is 100% leased.

Law firm Littleton Joyce Ughetta Park & Kelly LLP has leased 9,000 square feet at the Centre at Purchase, 4 Manhattanville Rd. in Purchase, NY. It’s a relocation and expansion within the Centre at Purchase. Cushman & Wakefield’s Sean Brady and Glenn Wash represented the law firm. Dana Pike of George Comfort & Sons, which owns the property with O’Connor Capital Partners, provided in-house representation.

Fairfield County

Building products manufacturer Harvey Industries has signed a 10-year, 40,100-square-foot industrial lease at 47-53 Old Ridgebury Rd. in Danbury, CT. Robert Eber and Edward Jarosz of CBRE’s Stamford, CT and Boston offices, respectively, represented both Harvey and building owner 155 John Street LLC.

Upstate New York

Northmarq Capital’s Scott DeVinney has arranged $4.9 million in first mortgage financing for the 166,807-square-foot Frear and Atrium Building between Third and Fourth streets in Troy, NY. Financing for the office property was based on a five-year term and a 25-year amortization schedule, Northmarq says, and came from a federal credit union. DeVinney says in a release that a unique aspect of this transaction is that there is no prepayment penalty and a $1-million line of credit was part of the loan structure.