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Middle Market Digest: The Northeast

Here is a roundup of smaller deals and transactions and executive moves throughout the Northeast in recent weeks.

Deal Tracker

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NEW YORK, NY—Silverstein Properties signed law firm Kramer Levin Naftalis & Frankel to a lease extension at 1177 Avenue of the Americas, Silverstein’s iconic class-A Midtown tower. Kramer Levin, which represents public and private companies across a broad range of industries, will occupy 265,348 square feet on the 22-30 floors and concourse level.  Kramer Levin has been a tenant at 1177 Avenue of the Americas since 2005 and under the 15-year extension, the firm will retain its headquarters at the building through 2035.

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HARRIMAN, NY—Contract Packaging Services has acquired the 96,500-square-foot industrial building it was leasing from Why Associates at 2 Bailey Farm Road in Harriman, NY. NAI Hanson’s Kenneth D. Lundberg, SIOR, and Patrick Lennon represented Why Associates in the sale. Located in the Orange County Industrial Market, 2 Bailey Farm Road is a single story, single tenant industrial space on 20 acres with 80 parking spaces and five loading docks, and expansion potential for 100,000 square feet of additional industrial space.

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BILLERICA, MA—The RAM Companies acquired two industrial/flex properties in suburban Boston—35 Dunham Road in Billerica and 734 Forest St. in Marlborough—for $10.1 million. The 65,912-square-foot property at 35 Dunham Road (pictured) in Billerica is located within Middlesex Corporate Park, one of Billerica’s major business parks. The 54,884-square-foot property at 734 Forest Street in Marlborough is located within the Cedar Hill Business Park, home to a strong mix of technology, financial services, biotechnology and other innovative firms in addition to large name brands.

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NEW BRUNSWICK, NJ—Holliday Fenoglio Fowler closed the sale of an 18,000-square-foot vacant retail building located at 37 Easton Avenue in downtown New Brunswick, NJ. HFF marketed the property on behalf of the seller.  Saxum Real Estate purchased the asset with seller financing. Completed in 2009, the vacant two-story building can be reconfigured to multi-tenant retail, office or residential space. HFF’s associate director Marc Duval, senior managing director José Cruz, managing director Kevin O’Hearn and directors Michael Oliver and Stephen Simonelli worked on the deal.

FRANKLIN TOWNSHIP, NJ—T-Mobile has leased 2,000 square feet of space at Rutgers Plaza in Franklin Township. Levin Management Corporation is exclusive leasing and managing agent for the 266,000-square-foot center. Levin’s leasing representative Jordan Korris negotiated the long-term lease.

Notables

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NEW YORK, NY—Tarter Krinsky & Drogin in New York promoted two lawyers who practice in the field of real estate. Gina Piazza (pictured) was named a partner. She is a member of the Real Estate, International, Retail, and Corporate and Securities practice groups and co-chairs the firm’s Italian Desk. Christopher Tumulty was named Counsel. He is a lawyer in the Litigation, Construction, Real Estate and Cooperative and Condominium practices. He works with businesses of all types involved in the real estate and construction industries in New York.

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WYNNEWOOD, PA—Marcus & Millichap named Mark Taylor (pictured) senior managing director-investments and  Ridge MacLaren senior vice president-investments. Previously, Taylor was senior vice president-investments. He specializes in institutional retail and net leased property investments and is a senior director of Marcus & Millichap’s Institutional Property Advisors Retail. Taylor has been with the firm since 2001. MacLaren specializes in multifamily property investments and is a senior director of Marcus & Millichap’s National Multi Housing Group. He has been with the firm since 2000.

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LIVINGSTON, NJ—Gebroe-Hammer Associates promoted three of its top-producing brokers and one administrative professional to new executive management positions. Debbie Pomerantz (pictured) of Passaic was named senior vice president and Gehane Triarsi of Mountainside, Adam Zweibel of Livingston and Kathleen DeMarino of Bloomfield were named vice presidents. Managing director David Oropeza, who is the firm’s market specialist for The Oranges, also was recognized for his 30-year tenure at Gebroe-Hammer.

NEW YORK, NY—AmTrust Title Insurance Company named Marci Lerner an Agency Representative for New Jersey. A veteran title insurance professional, with more than 25 years of experience in New Jersey, before joining AmTrust, Lerner was an agency representative for Westcor Land Title.

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