ABB Lummus renews 155,000 square feet

Oil and gas engineering company ABB Lummus Global Inc. has renewed its 155,000-square-foot office lease in Bloomfield, N.J., for an undisclosed price.

The lease includes three buildings owned by Hampshire Partners Fund VI located at 1515 Broad St. The complex where the space is located also includes another building, which is partially leased to another tenant.  more...

Hines buys another Chicago high-rise

Hines U.S. Office Value Added Fund II L.P. (HVAF II) has acquired a 23-story, 600,000-square-foot office building in downtown Chicago for an undisclosed price.

The property, 101 North Wacker, is located in the city's West Loop submarket. Completed in 1980 and renovated in 1990, the property was 83 percent leased at the time of sale to tenants that included TTX Co., Hartmarx Corp., YMCA and The Segal Co.

According to a press statement, HVAF II plans to renovate the property in an attempt to "enhance the building's leasing profile."

Bascom grows in Orange County

The sale of the Harbor Terrace Apartment community in Santa Ana, Calif., closed this week, with a limited liability company shelling out approximately $15.8 million for the asset.

The Bascom Group LLC purchased property located at 1314 N. Harbor Blvd. from Donbev Prop II Ltd. The sales price represented $157,000 per unit.  more...

Riverfront Plaza trades for $45.4 million

A limited liability company recently sold Riverfront Plaza, a fully leased shopping center in Hackensack, N.J., for $45.4 million.

Riverfront Plaza LLC unloaded the five-building property on Crossroads Cos. Comprising 129,250 square feet, the center is situated on nearly 14 acres on South River Street.

Riverfront Plaza's anchor, ShopRite Supermarket, occupies 70,400 square feet. Other tenants in the center include GNC, H&R Block, Hollywood Video, KFC, Mandee, Radio Shack, Taco Bell and Washington Mutual.

N.Y. apartment sale totals 724 units

A&R Fuel has sold a five-property apartment portfolio located in New York's Orange and Dutchess counties for approximately $51.8 million.

Buyers of the properties included four limited liability companies and a real estate company.

Among the properties were:

• Village Crest Apartments, located at Maloney Road in the town of Poughkeepsie. The 246-unit garden-style apartment complex is situated on 30 acres and was sold to Coolidge Maloney Road LLC.  more...

Phillips Edison adds 193,295 square feet

Phillips Edison & Co. closed on the purchase of two more shopping centers as part of its plan to purchase 63 Developers Diversified Realty Corp. properties this year.

The latest acquisition, which brings the current total to 60, includes Tops Plaza-Canandaigua in Canandaigua, N.Y., and Pasco Square in West Pasco, Fla. Tops Plaza is a 57,874-square-foot, single-tenant property with additional land for development, and Pasco Square is a 135,421-square-foot center anchored by Beall's Outlet and Dollar General.  more...