BOSTON — MassHousing has provided $26.4 million in financing for Beacon House, a 135-unit affordable housing property in Boston’s Beacon Hill neighborhood. The eight-story building was converted from a hotel to residential use in 1983. Of the 135 units, 117 are rentals that are subject to a range of income restrictions, and 18 units are rented through a commercial lease to nearby Massachusetts General Hospital for use by patients and their family members. The borrower, nonprofit organization Rogerson Communities, will use the proceeds to refinance existing debt, fund capital improvements and preserve the property’s affordability status.
MPZ, Capstone Near Completion of $36M Multifamily Adaptive Reuse Project in Templeton, Massachusetts
TEMPLETON, MASS. — A partnership between metro Boston-based MPZ Development and Capstone Communities is nearing completion of a $36 million multifamily adaptive reuse project in Templeton, about 65 miles northwest of Boston. A housing lottery was launched and closed on July 15, and full completion is slated for this fall. Designed by ICON Architecture, the project converted the historic Baldwinville Elementary School, which was originally built in 1923, into a 54-unit apartment complex known as Baldwinville School Apartments. Residences come in studio, one-, two- and three-bedroom floor plans, and the majority (49) of the units are reserved for households earning between 30 and 60 percent of the area median income. Amenities include a children’s playground, fitness center, electric vehicle charging stations, onsite laundry facilities and a community walking trail and green space.
BEVERLY, MASS. — JLL has negotiated the $8.5 million sale of a 60,666-square-foot grocery building in Beverly, a northeastern suburb of Boston, that is fully leased to regional operator Stop & Shop. The freestanding building sits on a 4.9-acre site that originally served as the site of the first Marshalls store in the United States (circa 1956). Alex Quinn, Zach Nitsche, Sam Wiesman and Joe Marinaro of JLL represented the seller and procured the buyer in the transaction.
NORWOOD, MASS. — Corbus Pharmaceuticals has signed a 36,471-square-foot office lease renewal in Norwood, a southern suburb of Boston. The space is located within the building at 500 River Ridge Drive, which according to LoopNet Inc. was constructed in 1988 (renovated in 2016) and totals 100,261 square feet. Curtis Cole, Sean Hannigan and Tim Allen of Colliers represented the tenant in the lease negotiations. Nat Kessler led a JLL team that represented the landlord.
SPRINGFIELD, MASSACHUSETTS — Owner-operator Onyx Partners has welcomed several new tenants to Springfield Crossing, a 34-acre open-air retail center in western Massachusetts that is a redevelopment of the former Eastfield Mall. Joining the tenant roster this summer are Target, which will anchor the second and latest phase of the redevelopment, as well as Chase Bank, Playa Bowls, Be Young Day Spa and Beyond Oishi. Onyx Partners acquired the property in 2023 following the departure of anchor tenants J.C. Penney and Sears.
MIDDLEBOROUGH, MASS. — INDUS, a locally based roadway rehabilitation and pavement preservation contractor, will open a 75,000-square-foot headquarters facility in Middleborough, located south of Boston. INDUS purchased a parcel within The Campus at Canopy Drive, an approximately 700,000-square-foot development owned by VMD Cos., earlier this year for $11.6 million. Design work is underway on the facility, which will include 7 acres of outdoor storage space and will also function as a consolidated hub of field operations, bringing 20 permanent new jobs to Middleborough. CBRE is the leasing agent for The Campus at Canopy Drive.
WRENTHAM, MASS. — Fairbanks Morse Defense, a provider of maritime engineering and manufacturing solutions, has signed a 71,350-square-foot industrial lease in Wrentham, located along the Massachusetts-Rhode Island border. The space is located within the 176,800-square-foot building at 315 Green St., which features a clear height of 32 feet. Kelly Sullivan and Rachel Igoe of Cushman & Wakefield represented the tenant, which plans to take occupancy in the fourth quarter, in the lease negotiations. Ellison Patten and James Tambone of Lincoln Property Co. internally represented the landlord, which developed the building in partnership with real estate private equity firm Stockbridge.
BOSTON — A partnership between Pennrose and the Hyde Square Task Force (HSTF) has broken ground on a 55-unit affordable housing redevelopment in the Jamaica Plain area of Boston. Designed by DiMella Shaffer, the project will convert the former 71,000-square-foot Blessed Sacrament Church, which was built in 1913 and closed by the Catholic Church in 2004, into a complex with studio, one- and two-bedroom apartments that will be reserved for residents earning 30 to 80 percent of the area median income (AMI). Six residences will also be set aside for formerly homeless residents, and the church’s nave will be repurposed into a multipurpose performance and gathering space for the Afro-Latin community. Completion is slated for late 2027.
WILMINGTON, MASS. — JLL has brokered the sale of a 237,880-square-foot logistics facility located at 800 Salem St. in Wilmington, a northern suburb of Boston. Completed in 2025, the building features a clear height of 32 feet, 47 dock-high loading positions, two drive-in doors, 130-foot truck court depths, parking for 332 cars and 33 trailers, 8,200 square feet of office space and an ESFR sprinkler systems. Michael Restivo, David Coffman and Tommy Hovey of JLL represented the seller, a partnership between Camber Development and Wheelock Street Capital, in the transaction. Tom Sullivan and Matt Stewart, also with JLL, arranged a 10-year, fixed-rate acquisition loan on behalf of the undisclosed buyer.
MIDDLEBOROUGH, MASS. — REXA Inc., a provider of engineered process control solutions, is nearing completion of a 110,000-square-foot manufacturing facility in Middleborough, located south of Boston. REXA purchased a parcel within The Campus at Canopy Drive, an approximately 700,000-square-foot development owned by VMD Cos., in fall 2025 for $6.6 million. The facility features a clear height of 28 feet and 20,000 square feet of office space. CBRE is the leasing agent for The Campus at Canopy Drive.
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