Massachusetts

801-Boylston-St.-Boston

BOSTON — Newmark has negotiated the $39.1 million sale of a 26,000-square-foot office and retail building located at 801 Boylston St. in Boston’s Back Bay neighborhood. Fidelity Investments has served as the anchor tenant of the building, which according to LoopNet Inc. was constructed in 1998 and renovated in 2018, since 1999. Robert Griffin, Edward Maher, Matthew Pullen, Paul Penman and Jonathan Martin of Newmark represented the seller and procured the buyer, both of which requested anonymity, in the transaction. Casey O’Brien of Newmark provided financial analysis support for the deal.

FacebookTwitterLinkedinEmail

WATERTOWN, MASS. — Boylston Properties and Wilder Cos. have welcomed seven new tenants to Arsenal Yards, a mixed-use destination located roughly 10 miles outside Boston that is a redevelopment of a former mall. J.Crew Factory and Jersey Mike’s Subs are now open at the property. Additionally, Butterbird, Splash and Dash, Marvelous Cuts, Medium Rare and Squeeze Massage are scheduled to open later this year. Arsenal Yards totals more than 1 million square feet and features life sciences, residential and hospitality uses, in addition to retail and restaurant space.

FacebookTwitterLinkedinEmail

PEABODY, MASS. — Colliers has arranged a $52.7 million loan for the refinancing of a 370,000-square-foot industrial property in Peabody, a northern suburb of Boston. The building is located within the Centennial Park development and houses the headquarters of an undisclosed e-commerce retailer. Barings provided the financing to a partnership between two Boston-based firms, Oliver Street Capital and Bain Capital Real Estate. The partnership plans to expand the property by 82,790 square feet, and the loan includes construction proceeds for that endeavor. John Broderick and Patrick Boyle led the debt placement efforts for Colliers.

FacebookTwitterLinkedinEmail
Innovation-Square-Phase-III-Boston

BOSTON — Related Beal, the Boston office of Related Cos., is underway on construction of Phase III of Innovation Square, a 345,000-square-foot life sciences project in Boston. The 1.8-acre site is located within Raymond L. Flynn Marine Park in the Seaport District, and the seven-story building is fully preleased to Vertex Pharmaceuticals. A consortium of lenders consisting of Santander Bank, Ullico, LBBW and Washington Capital are providing construction financing for Phase III of Innovation Square, and Basis Investment Group is an equity investor in the project. Completion is slated for 2026. The project is expected to generate as many as 700 construction jobs and approximately 500 permanent jobs for the city.

FacebookTwitterLinkedinEmail

BILLERICA, MASS. — Nuvera Fuel Cells has signed a 110,684-square-foot industrial lease renewal in Billerica, a northwestern suburb of Boston. The provider of clean energy solutions for various transportation industries has been a tenant at the two-building Rivertech Park for nearly two decades. Rivertech Park spans 30.5 acres and was renovated in 2021. Richard Ruggiero, Torin Taylor, Matthew Adams and Rory Walsh of Newmark represented the tenant in the lease negotiations. JLL represented the landlord.

FacebookTwitterLinkedinEmail

WESTFORD, MASS. — Regional brokerage firm Adirondack Capital Partners has arranged the $102.5 million sale of Abbot Mill, a 234-unit multifamily property in Westford, a northwestern suburb of Boston. The property, which represents Phase I of a larger project, is a redevelopment of a historic mill that was originally constructed in 1875, according to Apartments.com. The website also reports that Abbot Mill offers one- and two-bedroom units and amenities such as a fitness center, business center, clubhouse and a lounge. New York-based investment firm Aker acquired the property from an undisclosed local developer. Michael Hunter Coghill and David Johnson of Adirondack brokered the deal.

FacebookTwitterLinkedinEmail

WAKEFIELD, MASS. — A joint venture between locally based developer Cabot Cabot & Forbes (CC&F) and Equity Residential (NYSE: EQR) will develop 200 Quannapowitt, a 440-unit multifamily project in the northern Boston suburb of Wakefield. The property will offer one-, two- and three-bedroom units, 18 percent of which will be reserved as affordable housing. Amenities will include a pool, fitness center, clubhouse, outdoor grilling and dining stations, coworking space and nature trails. Brett Paulsrud, Andrew Gray and Mike Shepard of JLL structured the joint venture between the two firms.

FacebookTwitterLinkedinEmail

WORCESTER, MASS. — MassHousing has provided $9.6 million in financing for The Aurora, an 85-unit affordable housing complex in the central Massachusetts city of Worcester. The six-story building opened in 1898 as a hotel and was converted to residential use in the 1980s. Units are reserved for households earning up to 30, 50 and 60 percent of the area median income. The borrower, The Community Builders, will use the proceeds to fund renovations and preserve the property’s affordability status for the next 20 years.

FacebookTwitterLinkedinEmail

SEEKONK, MASS. — MassDevelopment has provided $11 million in tax-exempt bond financing to The Wheeler School in Seekonk, located outside Providence in southern Massachusetts. The college preparatory day school will use the proceeds to build a new pool, preschool facility and make other improvements to the campus. Construction is expected to begin in the coming weeks and to be complete by 2025. Berkshire Bank purchased the bond.

FacebookTwitterLinkedinEmail

SPRINGFIELD, MASS. — The Michaels Organization, an affordable housing owner-operator, has completed the renovation of Bergen Circle Housing Community, a 201-unit complex in the western Massachusetts city of Springfield. The unit mix consists of 89 one-bedroom units, 72 two-bedroom apartments, 20 three-bedroom residences and 20 four-bedroom units. The majority (170) of the units are reserved for households earning between 50 and 80 percent of the area median income. Michaels bought the eight-building property in 2021 and invested $17 million in capital improvements. MassHousing financed the renovations.

FacebookTwitterLinkedinEmail
Newer Posts