REBusinessOnline

Boston’s Exceptional Fundamentals Continue to Fuel Higher Land Values

With a large influx of some of the world’s best and brightest residents, Boston has evolved from a regional powerhouse into one of the world’s foremost innovative cities in less than 10 years. Boston is both the second-oldest and the third-densest major city in the United States, and since its founding 389 years ago, the city has experienced super-charged growth, urbanizing faster than almost all its peers. Because of that unprecedented growth, undeveloped parcels in desirable areas …

Condyne Sells 125,609 SF Research Facility in Andover, Massachusetts

ANDOVER, MASS. — Condyne, a Massachusetts-based developer, has sold 160 Dascomb Road, a 125,609-square-foot research facility in Andover, located approximately 20 miles north of Boston, for $26.2 million. The facility was 100 percent leased to Lockheed Martin and data and security company Accu-Tech at the time of sale. Boston Private Bank provided $17.2 million in acquisition financing. Coleman Benedict, Matthew Sherry, Kerry Hawkins, Ben Sayles and Michael Restivo of JLL represented Condyne …

Hawkins Way Acquires Historic 143-Room Copley Square Hotel in Boston

BOSTON ⁠— Hawkins Way Capital has acquired the historic 143-room Copley Square Hotel in the Back Bay neighborhood of Boston. Built in 1891, the Copley Square Hotel is situated within close proximity of Newbury Street retail and culture center, several colleges and universities, Fenway Park and the Prudential Center. Amenities include 1,500 square feet of meeting and event space, a 24-hour fitness center, a lower-level nightclub and 11,800 square feet of retail space ⁠— including 2,800 …

Amazon to Open 350,000 SF Robotics Innovation Hub in Westborough, Massachusetts

WESTBOROUGH, MASS. — Amazon will open a new 350,000-square-foot robotics innovation hub in Westborough, located approximately 30 miles west of Boston. The facility will feature corporate offices, research and development labs and manufacturing space. The move is also expected to bring about 200 new tech and advanced manufacturing jobs to Massachusetts. Atlantic Management is developing the facility, which is slated for completion in

JLL Brokers $19.5M Sale of Grocery-Anchored Shopping Center in Stoughton, Massachusetts

STOUGHTON, MASS. — JLL has brokered the $19.5 million sale of a shopping center in Stoughton, located approximately 20 miles south of Boston. A 59,987-square-foot Stop & Shop grocery store anchors the 79,300-square-foot center, which also houses tenants such as Bank of America, Care Central Urgent Care and Andrade’s Liquors. Nat Heald, Chris Angelone and Jessica Dowd of JLL represented the seller, Katz Properties Retail, in the transaction. RK Centers was the

Express Kitchens to Open Eight Stores, Showrooms Near Boston in 2020

BOSTON — Kitchen remodeling firm Express Kitchens plans to significantly increase its Massachusetts footprint in 2020 by opening three new retail stores and five new showrooms in and around the Boston area. Express Kitchens will open stores in the suburbs of Lynn, Watertown, Dedham, Peabody, Reading, Medford, Brockton and Weymouth. Showrooms will display a range of kitchens, cabinets and countertops, which customers will be able to purchase for their homes in-store or from the company’s …

Newmark Knight Frank Negotiates 14,764 SF Office Lease in Lexington, Massachusetts

LEXINGTON, MASS. — Newmark Knight Frank (NKF) has negotiated a 14,764-square-foot office lease for pharmaceutical company KabaFusion in Lexington, a northwestern suburb of Boston. The company is moving its headquarters from a 3,500-square-foot space in Waltham to 80 Hayden Avenue, a 43,208-square-foot, three-story office building primarily leased to life sciences tenants. Mark Roth, Matt Malatesta, Brendan Daly and Brianna Piacitelli of NKF represented the landlord, Marwick Associates, in the …

WinnCompanies to Develop $38.3M Residential Project in Lowell, Massachusetts

LOWELL, MASS. — WinnCompanies plans to develop a $38.3 million residential project in the Hamilton Canal Innovation District of Lowell, located approximately 25 miles northwest of Boston. The Hamilton Canal Innovation District is a collection 17 master-planned development parcels in the city’s downtown area. WinnCompanies will develop adjacent vacant parcels into two five-story buildings comprising 125 apartments and 5,000 square feet of commercial space. The development will offer 15 …

Walker & Dunlop Provides $28M Acquisition Loan for Seniors Housing Campus on Cape Cod

BREWSTER, MASS. — Walker & Dunlop has provided a $28.3 million bridge loan for the acquisition of Pleasant Bay, a 25-acre seniors housing campus in the Cape Cod town of Brewster. The campus comprises The Woodlands at Pleasant Bay, a 59-unit assisted living community, as well as the 134-bed Pleasant Bay Nursing and Rehabilitation Center. Point Group Care operates the community. The specific borrower was not disclosed. The financing will cover approximately 90 percent of the acquisition …

NKF Negotiates $69.2M Sale of Office Property in Boston

BOSTON — Newmark Knight Frank (NKF) has negotiated the $69.2 million sale of 100 Franklin Street, a 123,950-square-foot office building in Downtown Boston. At the time of sale, the nine-story building was 95 percent leased to 25 tenants including Webster Bank, data research company Lux Research Inc. and the YMCA. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble and Samantha Hallowell of NKF represented the seller, a partnership between Clarion Partners LLC and Synergy Investments. …

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