NORTHEAST BRIEFS
Dec 1, 2006 12:00 PM
Fremont Investment & Loan negotiated a $106 million loan with Metro Development Real Estate Fund L.P. and Grasso Holdings for the construction of Valley Square Lifestyle Center, a 392,000-square-foot property in Bucks County, Pa.
Worcester, Mass. City Manager Michael V. O'Brien and Berkeley Investments president Young K. Park signed a development agreement for the $536 million CitySquare project. CitySquare will create more than 2.2 million square feet of retail, medical, entertainment and residential space in downtown Worcester. Berkeley Investments will contribute $470 million to the project and the city of Worcester $94 million.
Continental Retail Development will develop a 107,000-square-foot lifestyle project in New Milford, Conn. called the Streets of New Milford. The project is scheduled to open in the spring of 2008.
CB Richard Ellis negotiated the sale of a condominium interest in Franklin Square, a 121,998-square-foot, grocery-anchored shopping center on the Bloomfield/Belleville town line in Essex County, N.J. The sale included four units totaling 51,911 square feet. Jeffrey Dunne and Ryan Bassett, of CB Richard Ellis's New York tri-state investment team, represented the seller in the transaction.
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