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Massachusetts

Plumley-Village-Worcester
AcquisitionsAffordable HousingMassachusettsMultifamilyNortheast

Partnership Acquires 430-Unit Affordable Housing Community in Worcester, Massachusetts

by Taylor Williams

WORCESTER, MASS. — A partnership between affordable housing owner-operator Jonathan Rose Cos. and local developer Schochet Cos. has acquired Plumley Village, a 430-unit community in Worcester. Plumley Village was originally developed in 1970 and rehabilitated in 2005. About 80 percent (342) of the residences are rent-subsidized as project-based Section 8 housing, and the remainder are rent-restricted under a Low-Income Housing Tax Credit land use regulatory agreement with MassDevelopment. Amenities include a community room, business center, convenience store, food pantry, laundry facilities, basketball court, playgrounds and a community garden. The Boys & Girls Club occupies the property’s ground-floor retail space. The seller was The Community Builders.

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AcquisitionsMassachusettsMixed-UseNortheast

Colliers Brokers $4M Sale of Mixed-Use Property in Lexington, Massachusetts

by Taylor Williams

LEXINGTON, MASS. — Colliers has brokered the sale of a 31,000-square-foot mixed-use property located at 1792 Massachusetts Ave. in Lexington, a northern suburb of Boston. The property is located within Lexington Center and features retail and office space, as well as residential units and a historic movie theater. Kendin Carr led the Colliers team that represented the seller, Viano Realty Trust, in the transaction.

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DevelopmentMassachusettsMultifamilyNortheast

Nauset Construction Completes 49-Unit Multifamily Project in Cambridge, Massachusetts

by Taylor Williams

CAMBRIDGE, MASS. — Locally based general contractor Nauset Construction has completed a 49-unit multifamily project in Cambridge, located across the Charles River from Boston. Designed by Piatt Associates, 605 Concord at Fresh Pond is a six-story building that offers a mix of studio, one-, two- and three-bedroom units ranging in size from 419 to 1,238 square feet, as well as 2,500 square feet of retail space. The developer is an entity doing business as Acorn Holdings LLC. Rents start at $2,800 per month for a studio apartment.

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Leasing ActivityMassachusettsNortheastOffice

Insurify Signs 21,000 SF Office Lease in Cambridge, Massachusetts

by Taylor Williams

CAMBRIDGE, MASS. — Insurify has signed a 21,000-square-foot office lease in Cambridge. The insurance technology company will occupy the entire sixth floor of 201 Broadway, a 119,000-square-foot building in the Kendall Square area. Robert Fitzgerald, Patrick Grady, Jim Boudrot, Peter Evans, Steve James and Henry Birmingham of regional brokerage firm Hunneman represented the landlord, The Davis Cos., in the lease negotiations.

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AcquisitionsIndustrialMassachusettsNortheastOffice

Marcus & Millichap Brokers $5.8M Sale of Industrial, Office Complex in Acton, Massachusetts

by Taylor Williams

ACTON, MASS. — Marcus & Millichap has brokered the $5.8 million sale of a 76,251-square-foot industrial and office complex in Acton, located northwest of Boston. The complex at 930 Main St. consists of seven buildings that collectively house about 61,700 square feet of warehouse space and 14,500 square feet of office space. Luigi Lessa, Harrison Klein and Mattias Edenkrans of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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LoansMassachusettsMultifamilyNortheast

MMCC Arranges $5M Bridge Loan for Metro Boston Apartment Building

by Taylor Williams

METHUEN, MASS. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $5 million bridge loan for the acquisition of a 30-unit apartment building in Methuen, a northern suburb of Boston. The newly renovated building at 11 Ashton Place houses studio, one- and two-bedroom units. The nonrecourse loan carries a five-year term, a 70 percent loan-to-value ratio, a sub-6 percent interest rate and a 30-year amortization schedule. Robert Bhat of MMCC arranged the loan. The direct lender was not disclosed. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the $7.1 million sale.

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IndustrialLeasing ActivityMassachusettsNortheast

U.S. Lumber Signs 96,000 SF Industrial Lease in Mansfield, Massachusetts

by Taylor Williams

MANSFIELD, MASS. — U.S. Lumber has signed a 96,000-square-foot industrial lease in Mansfield, located south of Boston. The space is located within Francis Logistics Center, a 352,340-square-foot, rail-served development that includes 10 acres of industrial outdoor storage space. Ned Halloran and Leeanne Rizzo of regional brokerage firm Hunneman represented the landlord, Boston-based Oliver Street Capital, in the lease negotiations. Information on the tenant representative was not disclosed.

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Leasing ActivityMassachusettsNortheastRetail

The Picklr Opens 36,192 SF Sports Entertainment Venue in Danvers, Massachusetts

by Taylor Williams

DANVERS, MASS. — The Picklr, an entertainment concept centered on pickleball, has opened a 36,192-square-foot venue in Danvers, a northern suburb of Boston. The space is located within a former Bed Bath & Beyond store at Endicott Square, a 56,275-square-foot shopping center that is also home to tenants such as Quest Diagnostics, Salem Five and Advance Auto Parts. Don Mace of local brokerage firm KeyPoint Partners represented the undisclosed landlord in the lease negotiations.

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Commonwealth-Fusion-Systems-Devens-Massachusetts
AcquisitionsIndustrialMassachusettsNortheast

Pivotal, Declaration Partners Buy Metro Boston Manufacturing Facility for $74M

by Taylor Williams

DEVENS, MASS. — A partnership between Pivotal Manufacturing Partners and Declaration Partners has purchased a 165,335-square-foot manufacturing facility in Devens, located northwest of Boston, for $74 million. The facility, which was built in 2022, serves as the global headquarters and magnet production hub of Commonwealth Fusion Systems. Building features include a clear height of 32 feet, three tailboard dock doors, one drive-in door and 283 parking spaces. John Alascio, Alan Blank, Alex Lapidus, Rob Borden and Heather Brown of Cushman & Wakefield arranged $52.8 million in acquisition financing for the deal through Goldman Sachs.

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AcquisitionsMassachusettsNortheastRetail

Atlantic Capital Partners Arranges $32.6M Sale of Retail Building in Metro Boston

by Taylor Williams

FRAMINGHAM, MASS. — Regional brokerage firm Atlantic Capital Partners has arranged the $32.6 million sale of a retail building located in the western Boston suburb of Framingham. The building sits on a 9.5-acre site and is ground-leased to Lowe’s Home Improvement. Justin Smith, Chris Peterson, Sam Koonce, Danielle Turpin and Matt Ericson of Atlantic Capital Partners represented the seller and procured the buyer, both of which requested anonymity, in the transaction.  

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