WILMINGTON, MASS. — Local brokerage firm Atlantic Capital Partners (ACP) has arranged the $7.7 million sale of a 53,679-square-foot shopping center in Wilmington, located north of Boston. Grocer McKinnon’s Market anchors the center, which was 91 percent leased at the time of sale. Justin Smith, Chris Peterson, Danielle Turpin and John Dixon of ACP represented the undisclosed seller in the transaction. The sale included 13.6 undeveloped, residential-zoned acres situated directly behind the center.
BOSTON — Living Proof has signed a 14,085-square-foot lease in Boston’s Seaport District. The provider of hair care products will relocate its operations from the Innovation & Design Building to the entire fifth floor of the office and life sciences building at 12 Farnsworth St. Tim Lahey of CBRE represented the tenant in the lease negotiations. Eric Smith and Lauren Drakeley, also with CBRE, represented the landlord, Phase 3 Real Estate Partners.
CAMBRIDGE, MASS. — PGIM has provided a $58.5 million loan for the refinancing ofOne Brattle Square, an office and retail building located across the Charles River from Boston in Cambridge. The six-story building, which was 99 percent leased at the time of the loan closing, is located within the Harvard Square submarket and features 82,500 square feet of office space and 15,000 square feet of retail space. PGIM provided the floating-rate loan to the borrower, an affiliate of Beacon Capital Partners.
MARLBOROUGH, MASS. — The Massachusetts State Police will open a 200,000-square-foot crime lab and training facility in Marlborough, a western suburb of Boston. The facility will be situated on a 24-acre site at 100 Martinangelo Drive, and the Commonwealth of Massachusetts has entered into a 20-year, triple-net lease with the owner, an investment group led by Greatland Realty Partners. The building will rise four stories, and the space will be able to accommodate about 250 employees. Completion is slated for early 2028. Brett Paulsrud, Andrew Gray and Michael George of JLL arranged credit tenant lease (CTL) financing for the project on behalf of ownership.
RANDOLPH, MASS. — Local brokerage firm Atlantic Capital Partners (ACP) has arranged the $9 million sale of a former movie theater complex in Randolph, a southern suburb of Boston. The 112,265-square-foot complex previously housed a 16-screen Showcase Cinema that first opened in 1997. Justin Smith, David Smookler, Peter Considine, Danielle Turpin and Matt Austin of ACP represented the seller in the transaction and procured the buyer. Both parties requested anonymity.
WALTHAM, MASS. — Biocytogen, which provides animal and cell model generation for preclinical research, has signed a 35,000-square-foot life sciences lease in Waltham, a western suburb of Boston. Biocytogen now occupies about 70,000 square feet at the 143,533-square-foot building at 300 Third Ave. Tim Allen of Colliers represented the tenant in the lease negotiations. Tim Latham, Christopher Scott and Chris Devaux represented the landlord, Dallas-based Lincoln Property Co., on an internal basis.
LYNN, MASS. — MassDevelopment has provided $29 million in tax-exempt bond financing for a 150-unit affordable seniors housing project in Lynn, located northeast of Boston. The financing will support construction of 105 units for the project at 500 Lynnfield St., which is being developed by an affiliate of 2Life Communities. The development will consist of three buildings with 138 one-bedroom units and 12 two-bedroom units that will be reserved for renters earning between 30 and 60 percent of the area median income. Eastern Bank purchased the bond.
BEDFORD, MASS. — A joint venture between Anchor Line Partners and Alloy Properties has refinanced The Core at Crosby, a 615,305-square-foot office and life sciences campus in Bedford, a northwestern suburb of Boston. Berlin Hyp, the commercial real estate finance arm of LBBW, provided the debt for the nine-building campus, which is anchored by software provider AspenTech. Robert Griffin, David Douvadjian Sr., David Douvadjian Jr., Timothy O’Donnell, Edward Maher and Matthew Pullen of Newmark arranged the debt on behalf of the joint venture.
LYNN, MASS. — A partnership between two locally based investment firms, A.W. Perry and Foxfield, has sold Lynnway Industrial Park, a 252,000-square-foot development in Lynn, located on the northeastern outskirts of Boston. Lynnway Industrial Park is a 17-acre redevelopment of the former Garelick Farms and West Lynn Creamery facilities that houses three buildings that were fully leased at the time of sale. Tenants include Global Protection Corp., LSG SkyChefs and Wash Cycle Laundry. Frank Petz, Matthew Sherry, Rob Schlesinger, Jack Barrett, Daniel Hincks and Joe Gaziano of Colliers represented the seller in the transaction. The buyer was North River Co.
Washington Trust Provides $47.6M in Financing for Worcester Office-to-Residential Conversion Project
WORCESTER, MASS. — Washington Trust Co. has provided $47.6 million in financing for an office-to-residential conversion project in Worcester. The project will convert the former Fallon Community Health Plan headquarters at 10 Chestnut St. into a 198-unit, market-rate apartment complex. Units will come in studio, one- and two-bedroom floor plans, and amenities will include a pool, fitness center and a rooftop deck. Construction began last year and is expected to be complete this fall. MassDevelopment also provided $3.6 million in financing for the project.
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