Deals & Deeds

Premier Plaza gets financing

Webster Bank has provided $21.3 million in construction and permanent financing for Premier Plaza, an approximately 89,000-square-foot shopping center for which ground has been broken at a long-vacant office-park site on Route 119 in Greenburgh.

The development, a project of White Hickory Associates L.L.C., will be anchored by a 58,000-square-foot Super Stop & Shop employing some 200 workers. A 12,500-square-foot retail store also will be built in the first phase, expected to be completed by spring 2012. The center eventually will include a 3,800-square-foot bank and a 14,500-square-foot retail building.

The development partnership includes Robert Martin Co. L.L.C. in Elmsford, J.A.H. Realties L.P., headed by Manhattan-based developer Jon Halpern, and Warren Lesser.

Robert Weinberg, president and co-founder of Robin Martin Co., said Webster Bank”™s flexibility in executing a multi-phase financing structure was “a key catalyst” for the project.

NRS Logistics expands at Bank Street

NRS Logistics Inc., an American branch of Japan-based NRS Corp., has renewed its lease and expanded its 11^th-floor office space to 3,100 square feet at 10 Bank St. in White Plains. The lease extends into 2017.

Paul Moulins, an associate at Rakow Commercial Realty Group, brokered the deal for the tenant. The landlord, Malkin Properties, was represented by Malkin Executive Vice President Jeffrey H. Newman, assisted by Kim Zaccagnino, senior leasing associate.

NRS Corp., a privately held company with headquarters in Tokyo, supplies services and equipment for the transportation and storage of petrochemicals and other chemical products. Founded in 1946, the company also has offices in China, France, England and the Netherlands.

Mack-Cali refinances credit facility

New Jersey-based Mack-Cali Realty Corp. announced that its operating partnership, Mack-Cali Realty L.P., has refinanced its unsecured revolving credit facility with a group of 20 lenders. The financing deal was arranged by J.P. Morgan Securities L.L.C. and Merrill Lynch, Pierce, Fenner & Smith Inc.

The $600 million unsecured facility is expandable to $1 billion. It carries an interest rate equal to Libor ”“ the London interbank offered rate ”“ plus 125 basis points and a facility fee of 25 basis points, both subject to adjustment based on the operating partnership”™s unsecured debt ratings.

Mack-Cali owns some 4.8 million square feet of commercial property in Westchester, including the South Westchester Executive Park in Yonkers, Westchester Financial Center in White Plains, Mid-Westchester Executive Park in Hawthorne and Taxter Corporate Park, Cross Westchester Executive Park and Elmsford Distribution Center in Elmsford.