NORTH ANDOVER, MASS. — Marcus & Millichap has brokered the $4.8 million sale of a 30,855-square-foot industrial flex building located outside of Boston in North Andover. Completed in 1997, the building at 45 Beechwood Drive features 11,500 square feet of office space and 19,355 square feet of warehouse space, as well as two loading docks, one drive-in bay and a clear height of 14 feet. Mattias Edenkrans, Harrison Klein and Luigi Lessa of Marcus & Millichap represented the seller and procured the buyer, both of which were private entities that requested anonymity, in the transaction..
CAMBRIDGE, MASS. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $3.4 million loan for the refinancing of a 16-unit apartment building in Cambridge, located across the Charles River from Boston. According to Zillow.com, the building at 891 Massachusetts Ave. offers one- and two-bedroom units. Robert Damigella of MMCC arranged the nonrecourse loan, which carries a fixed interest rate of 7.12 percent and a 65 percent loan-to-value ratio, through a local credit union. The sponsor was not disclosed.
PEABODY, MASS. — A partnership between two local development and investment firms, Oliver Street Capital and Bain Capital Real Estate, has completed an 82,790-square-foot warehouse in Peabody, a northern suburb of Boston. The project is a build-to-suit for Christianbook, and the site is contiguous to the literary retailer’s existing headquarters. Locally based design-build firm Dacon Corp. handled the architectural and general contracting aspects of the partnership in conjunction with Fraser Project Management.
WINTHROP, MASS. — Marcus & Millichap has brokered the $10.7 million sale of Shore Drive Apartments, a multifamily complex in Winthrop, located northeast of Boston. Shore Drive Apartments currently houses 71 units in studio, one- and two-bedroom formats, and plans are underway for the addition of another 27 units as part of a reconstruction effort following a fire at the property last year. Evan Griffith, Tony Pepdjonovic and Will Sanborn of Marcus & Millichap Boston represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
SOMERVILLE, MASS. — JLL has arranged a loan of an undisclosed amount for the refinancing of Prospect Union Square, a 450-unit apartment community in Somerville, located just outside of Boston. Prospect Union Square is a two-building complex that was completed in 2023 and houses one-, two- and three-bedroom units, with 90 residences designed as affordable housing. The property also features an outdoor pool, courtyard, fitness center and indoor dog run, as well as 18,264 square feet of retail space. Danny Kaufman, Brett Paulsrud, Madeline Joyce and Ali Howard of JLL arranged the loan through Northwestern Mutual on behalf of the owner, a joint venture between affiliates of Magellan Development Group, RAS Union Square Development, Cypress Equity Investments and Affinius Capital.
SOMERVILLE, MASS. — Locally based general contractor Nauset Construction has completed a 59-unit multifamily project in Somerville, located just outside of Boston. Designed by ICON Architecture, the project represents the second phase of a larger development known as Union 346 and houses one-, two- and three-bedroom units, with 11 residences set aside as affordable housing. Amenities include a rooftop deck, fitness center, lounge, outdoor grilling and dining spaces and a dog wash station. A joint venture between John M. Corcoran & Co., The Grossman Companies and SMT Development owns Union 346, the first phase of which comprised 94 units.
GREAT BARRINGTON, MASS. — Regional brokerage firm Chozick Realty has negotiated the $7.9 million sale of Beechtree Commons, a 66-unit apartment complex in Great Barrington, located near the Massachusetts-New York border. The property was built on 4.5 acres in 1972 and houses one- and two-bedroom units. Tom Boyle of Chozick represented the seller, a family office, in the transaction, and procured the buyer, a regional owner-operator. Both parties requested anonymity.
SOUTHBRIDGE, MASS. — Regional brokerage firm Chozick Realty has arranged the $11.1 million sale of Southbridge Fair, a 113,500-square-foot shopping center located along the Massachusetts-Connecticut border. Big Y World Class Market anchors the center, which was originally built on 13 acres in 1972 and renovated in 1996. The center was fully leased at the time of sale, and other tenants include Advance Auto Parts, Aubuchon Hardware, McDonald’s, Family Dollar and Great Clips. Tom Boyle of Chozick Realty represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
WOBURN, MASS. — CBRE has brokered the sale of a 38,000-square-foot shopping center located at 99-103 Commerce Way in Woburn, a northern suburb of Boston. Known as MetroNorth Shopping Center, the property houses tenants such as Petco, The Vitamin Shoppe, Gardner Mattress, Pediatrics Urgent Care and Starbucks Coffee. Nat Heald and Jordana Roet of CBRE represented the undisclosed seller and procured the buyer, Calare Properties, in the transaction. Kyle Juszczyszyn and Matt Machiros, also with CBRE, arranged an undisclosed amount of acquisition financing for the deal.
BRAINTREE, MASS. — Dick’s Sporting Goods will open a store at South Shore Plaza in Braintree, located south of Boston. The square footage was not disclosed. Nordstrom currently occupies the space. Simon Property Group owns South Shore Plaza, which is home to about 200 retail, restaurant and entertainment operators. The opening is scheduled for summer 2026.
Newer Posts