REBusinessOnline

Massachusetts

Claremont Cos. Receives $17.6M in Refinancing for Seniors Housing Community in Massachusetts

SOUTH DARTMOUTH, MASS. — Claremont Cos. has received $17.6 million in affordable housing financing from MassHousing for the refinancing of Solemar at South Dartmouth. The refinancing of the mixed-income seniors housing community preserves the affordability of the property’s 100 affordable units through 2034. Claremont Cos. refinanced the property through MassHousing’s Multifamily Accelerated Processing (MAP)/Ginnie Mae Joint Venture Initiative with lender partner Rockport Mortgage Corp...

August 18, 2017

Lena New Boston Continues $200M Residential Redevelopment in Boston

BOSTON — Lena New Boston, a partnership between New Boston Fund and Lena Park Community Development Corp., is continuing its $200 million redevelopment of the former Boston State Hospital site with 41 additional two- and three-bedroom units of mixed-income townhomes at Olmstead Green, the first workforce housing/homeowners project in Boston funded by MassHousing’s Opportunity Fund, the Department of Neighborhood Development and the Neighborhood Housing Trust. The project’s overall master..

August 17, 2017

Atlantic Management Sells Retail Center in Acton, Massachusetts, for $16.3M

ACTON, MASS. — Atlantic Management has completed the disposition of Powder Mill Plaza, a retail property located in Acton. Medipower acquired the shopping center for $16.3 million. Stop & Shop, Rite Aid, Anytime Fitness, DCU, Papa Gino’s and Dunkin’ Donuts, among other national retailers, occupy the 74,876-square-foot property. Geoffrey Millerd, Justin Smith, Paul Penman and Christopher Peterson of Newmark Knight Frank represented the seller in the deal.

August 17, 2017

Colliers Facilitates $11.4M Sale of Residential Redevelopment Property in Boston

BOSTON — Colliers International has arranged the sale of a residential redevelopment property located at 27-29 Isabella St. in Boston’s Bay Village neighborhood. Marist Fathers sold the property New Boston Ventures for $11.4 million. The buyer plans to redevelop the property into nine high-end residential condominiums. Chris Sower, Scott Dragos and Tom Hynes of Colliers represented the seller, while Harry Collings of New Boston Ventures provided in-house representation for the buyer in the..

August 16, 2017

BHA Selects WinnCompanies for $1.6B Redevelopment of Public Housing Property in Boston

BOSTON — The Boston Housing Authority (BHA) has selected WinnCompanies, a Boston-based developer of mixed-income multifamily properties, to deliver a $1.6 billion redevelopment of the Mary Ellen McCormack public housing development in South Boston. The redevelopment project will demolish the 27 three-story buildings that comprise the property. It will replace all of the existing 1,016 units with a combination of workforce housing for middle-income residents, as well as market-rate..

August 14, 2017

Kelleher & Sadowsky Negotiates Sale of 3,200 SF Office Property in Worcester, Massachusetts

WORCESTER, MASS. — Kelleher & Sadowsky has arranged the sale of a 3,200-square-foot office space located at 31 Harvard St. in Worcester. Private investor Kenneth Davis acquired the property for an undisclosed price and plans to convert the property into office and residential space when vacated by the current tenant, Family Service Organization of Worcester. Will Kelleher and David Cohen of Kelleher & Sadowsky brokered the transaction. The name of the seller was not released.

August 9, 2017

Kelleher & Sadowsky Brokers Sale of 40,754 SF Industrial Space in East Brookfield, Massachusetts

EAST BROOKFIELD, MASS. — Kelleher & Sadowsky has arranged the sale of an industrial space located at 545-555 E. Main St. in East Brookfield. The undisclosed buyer plans to convert the 40,754-square-foot former Howe Lumber facility into a micro-brewery under the Timberyard Brewing brand. Paul Matt of Kelleher & Sadowsky brokered the sale. The name of the seller and acquisition price were not released.

August 7, 2017

RD Management Signs Leases with HomeGoods, T.J.Maxx at Milford Crossing in Massachusetts

MILFORD, MASS. — RD Management has signed leases with HomeGoods and T.J.Maxx at Milford Crossing, a shopping center located at 120-129 Medway Road in Milford. HomeGoods will occupy 24,628 square feet and T.J.Maxx will occupy 21,863 square feet. Both stores are expected to open this fall. The 157,921-square-foot shopping center is currently being redeveloped and will be anchored by a Stop & Shop, which is slated to open in November. Additionally, the center features new 6,000-square-foot and..

August 3, 2017

Jash USA Acquires 234,000 SF Industrial Facility in Orange, Massachusetts, for $1.6M

ORANGE, MASS. — Jash USA has purchased a heavy manufacturing facility located at 46 Mill St. in Orange from VAG USA for $1.6 million. Situated on 37.7 acres, the facility features 234,000 square feet of industrial space. Sentry Commercial and Newmark Knight Frank were the sole brokers in the transaction.

August 2, 2017

Calare Properties Completes Sale of 40,000 SF Lab Space in Billerica, Massachusetts

BILLERICA, MASS. — Calare Properties has completed the sale of a laboratory space located at 749 Middlesex Road in Billerica. An undisclosed buyer purchased the property for $6.2 million. Calare Properties originally acquired the vacant 40,000-square-foot lab facility in 2013 for $3.3 million while concurrently leasing the entire property to RainDance Technologies, a biotechnology company.

August 1, 2017