REBusinessOnline

CBRE Arranges $55M Sale of Apartment Community in Walpole, Massachusetts

WALPOLE, MASS. — CBRE has arranged the $55 million sale of Alta Easterly, a 157-unit apartment community in Walpole, located approximately 20 miles southwest of Boston. The property, now rebranded Audubon Easterly, comprises 57 one-bedroom units, eight one-bedroom units with dens and 92 two-bedroom units. The community was delivered in 2018 and is located at 1100 Cricket Lane. Simon Butler and Biria St. John of CBRE procured the buyer, Audubon Capital, in the transaction. The CBRE team also …

Acquisitions, Massachusetts, Multifamily, Northeast

Harrison Street Acquires 11-Property Seniors Housing Portfolio in Massachusetts, New Jersey and Maryland

NEW JERSEY AND MASSACHUSETTS — Harrison Street, a Chicago-based alternative asset investment firm, has acquired a portfolio of 11 seniors housing properties managed by Brightview Senior Living located throughout New Jersey, Massachusetts and Maryland. The portfolio totals 1,322 units. The New Jersey properties include Brightview Greentree in Marlton, Brightview Mount Laurel in Mount Laurel and Brightview Woodbury Lake in Deptford. The Massachusetts properties include Brightview Concord River …

Acquisitions, Massachusetts, Multifamily, New Jersey, Northeast, Seniors Housing

Robotics Firm Renews 60,000 SF Office Headquarters Lease in Wilmington, Massachusetts

WILMINGTON, MASS.— Robotics company Symbotic has renewed its 60,000-square-foot office headquarters lease in Wilmington, a northern suburb of Boston. Located at 200 Research Drive, the property accommodates office, lab, research and light manufacturing and warehouse users. Mike Ripp of CBRE represented Symbotic in the lease negotiations. Matt Adams, Torin Taylor, Richard Ruggiero and Rory Walsh of Newmark Knight Frank represented the landlord, Novaya Real Estate Ventures. Symbotic develops …

Leasing Activity, Massachusetts, Northeast, Office

Lotus Harvard Completes 16-Unit Apartment, Retail Project in Cambridge, Massachusetts

CAMBRIDGE, MASS. — Lotus Harvard Enterprises LLC has completed development of 1699 Massachusetts Avenue, a 16-unit apartment building with 1,600 square feet of ground-floor retail space that is located adjacent to Harvard Law School in Cambridge. The property offers two studios, eight one-bedrooms, five two-bedrooms and three two-bedroom units, as well as an adjoining five-bedroom single-family home. Khalsa Design was the architect of the project and Nauset Construction was the general …

Development, Massachusetts, Multifamily, Northeast

JLL Brokers $24.1M Sale of Wonderland Marketplace in Metro Boston

REVERE, MASS. — JLL has brokered the $24.1 million sale of Wonderland Marketplace, a 139,507-square-foot shopping center in Revere, a northeastern suburb of Boston. The shopping center is anchored by Marshalls, Big Lots and Planet Fitness and is adjacent to the Massachusetts Bay Transportation Authority Wonderland Station. Nat Heald and Chris Angelone of JLL represented the seller, a partnership between Winstanley Enterprises and Surrey Equities, in the transaction. Urban Edge Properties …

Acquisitions, Massachusetts, Northeast, Retail

Developers Adapt to Tight Office Market in Northeast

Office vacancies are falling across the big metros of the Northeast as robust user demand outpaces the supply of new construction. Deliveries in the last year have primarily been limited to Class A, build-to-suit properties and mixed-use developments. Meanwhile, office tenants are seeking high-end amenities at favorable prices. Nationally, the office vacancy rate stood at 16.8 percent in the second quarter, up slightly from 16.6 percent a year ago, according to real estate research firm Reis. …

Market Reports, Massachusetts, New York, Northeast, Northeast Market Reports, Office, Pennsylvania

OREC Securities Brokers Sale of Pleasant Bay Nursing and Rehabilitation Center on Cape Cod

BREWSTER, MASS. — OREC Securities has brokered the sale of Pleasant Bay Nursing and Rehabilitation Center in the Cape Cod town of Brewster. The community houses 135 skilled nursing beds and 59 assisted living units. Although the original plan was to split the community into two separate sales, a regional owner-operator bought the properties as a single asset. Laca Wong-Hammond, Chad Elliott, Kevin Laidlaw and Aaron Becker led the transaction for OREC. The seller and price were not

Acquisitions, Massachusetts, Multifamily, Northeast, Seniors Housing

Everlane Signs 2,300 SF Retail Lease at Boston Seaport

BOSTON — Apparel retailer Everlane has signed a 2,300-square-foot retail lease in Boston’s Seaport District. Originally launched in November 2011 as an exclusively online retailer, Everlane will open its sixth brick-and-mortar location at 125 Seaport Boulevard in Spring 2020. The brand markets itself as a transparent and ethically sourced apparel retailer. WS Development is the developer of 125 Seaport

Leasing Activity, Massachusetts, Northeast, Retail

Spirit Realty Capital Acquires 123 Single-Tenant Retail Properties from Service Properties Trust for $435M

DALLAS AND NEWTON, MASS. — Spirit Realty Capital Inc. (NYSE: SRC), a net-lease REIT based in Dallas, has purchased a national single-tenant retail portfolio for $435 million. The portfolio’s seller is Service Properties Trust (NASDAQ: SVC), a net-lease retail and lodging REIT based in the western Boston suburb of Newton. The portfolio spans 26 states and includes 123 stores leased to 54 different concepts. About a third of the portfolio is leased to restaurants, including Wendy’s, …

Acquisitions, Massachusetts, Net Lease, Northeast, Retail, Texas, Top Stories

Austin Street Partners Completes 68-Unit Multifamily, Retail Development in Metro Boston

NEWTON, MASS. — Austin Street Partners, a joint venture between Oaktree Development and Dinosaur Capital Partners, has completed 28 Austin, a 68-unit multifamily development with 5,000 square feet of ground-floor retail space in Newton, a western suburb of Boston. Resident amenities include a fitness room, dog park, resident lounge and rooftop seating with a fire pit. Residents have already moved in. Caffé Nero, a bakery and café, is expected to open in early

Development, Massachusetts, Multifamily, Northeast, Retail
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