NORTON, MASS. — Marcus & Millichap has brokered the $4.6 million sale of a 10,125-square-foot retail property in Norton, located in the southern part of The Bay State, that is net leased to CVS. The property was built on 1.5 acres in 2000. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Thomas Shihadeh of Marcus & Millichap assisted in closing the deal as the broker of record.
BOSTON — Marcus & Millichap has brokered the $5.2 million sale of Beals Street Apartments, a nine-unit multifamily building in Boston’s Brookline neighborhood. Constructed in 1909, Beals Street Apartments features six condo-style, two-bedroom residences and three studio apartments. Matthew Pierce of Marcus & Millichap represented the seller, an individual/personal trust, in the transaction and procured the buyer, a limited liability company. Both parties requested anonymity.
BOSTON — Cushman & Wakefield has brokered the $20 million sale of a 16-unit apartment building located at 37-43 Temple Place in Boston. The five-story building, which was most recently renovated in 2008, houses two-, three- and four-bedroom units and 4,950 square feet of retail space that is fully leased. Bruce Lusa, Chris Sower, Jon Bryant, John Flaherty, Kevin Jones, Mary VanNatta and Julie Regan of Cushman & Wakefield represented the seller, 3MJ Realty LLC, in the transaction. The buyer was SC Alpha Inc.
Reports: Boston Planning & Development Agency Approves Master Plan for $5B Dorchester Bay City Mixed-Use Project
BOSTON — The Boston Planning & Development Agency has approved the master plan of Dorchester Bay City, a mixed-use project on the city’s south side, according to a host of local media sources. The Boston Globe reports that the waterfront project, which is a redevelopment of the former site of the Bayside Expo Center, carries a price tag of roughly $5 billion. Accordia Partners, which is a partnership between Boston developers Kirk Sykes and Dick Galvin, and New York-based Ares Capital Corp. lead the development team. According to The Dorchester Reporter, the latest plans for the development call for 21 buildings totaling roughly 6.1 million square feet across a total acreage of 36.2 acres. The buildings will house office, life sciences, residential, retail, restaurant and office uses, and most will include underground parking, per the media outlet. According to the project webpage, Dorchester Bay City will feature a 2.7-acre park at the water’s edge; a 6,300-square-foot pavilion with various amenities; and an 8,000-square-foot learning and innovation center. Approximately 20 percent of the residential inventory to be designated as affordable housing, specifically for households earning 70 percent or less of the area median income. The development team plans to make $36.8 …
BOSTON — A partnership between Lendlease and Ivanhoé Cambridge has topped out a $545 million life sciences project within Boston Landing, a mixed-use destination in the Allston/Brighton area. The nine-story, 350,000-square-foot building at 60 Guest St. is known as FORUM and will feature traditional office space in addition to lab and research/development space. SGA Architects designed the project, and Consigli Construction Co. is serving as the general contractor. Construction began last fall and is slated for completion sometime next year. JLL is the leasing agent. The partnership first acquired the land for the project from NB Development Group, the master developer of Boston Landing, in March 2021.
BOSTON — A joint venture between Carr Properties, The HYM Investment Group and National Real Estate Advisors has completed One Congress, a 43-story, 1 million-square-foot office project in downtown Boston. One Congress opens fully preleased. Anchor tenants include financial services firm State Street Corp. (510,000 square feet) and data management services provider InterSystems Corp. (420,000 square feet) — two of the largest office leases signed in Boston within the past 20 years, according to the developers. Among the additional tenants are law firm K&L Gates, Trillium Asset Management and Husch Blackwell. Amenities include a 30,000-square-foot outdoor garden on the 11th floor; 7,000-square-foot fitness center; coffee bar; collaborative workspace and lounges; a marketplace with food offerings and a cocktail bar curated by restaurateur Stephen Starr; and 4,700 square feet of meeting and conference space. Pelli Clarke Pelli and CBT Architects handled design of the building. Gachot Studio served as the interior design firm and John Moriarty & Associates was the construction manager. Construction began in June 2019, and the topping off occurred in summer 2021. The development is LEED Platinum certified and located in proximity to the Rose Kennedy Greenway and several MBTA stations. Washington, D.C.-based Carr Properties is a privately …
BOSTON — Synergy Investments has acquired One Liberty Square, a 157,467-square-foot office building in downtown Boston, for $45 million. The 13-story building was originally constructed in 1926 and renovated in 1982. Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell and William Sleeper of Newmark represented the seller, New York-based Clarion Partners, in the transaction. The team also procured Synergy Investments as the buyer. One Liberty Square was 84 percent leased to a roster of 22 tenants at the time of sale.
PITTSFIELD, MASS. — Metro Boston-based brokerage firm Horvath & Tremblay has negotiated the $6.3 million sale of Del Alba Plaza, a 72,119-square-foot, grocery-anchored shopping center in Pittsfield, located in the western part of The Bay State. The center consists of a 61,935-square-foot Stop & Shop grocery store, a 2,000-square-foot fuel station and a three-space, 8,184-square-foot inline building. The property also features a pad site that can support the development of a 3,500-square-foot building. Bob Horvath and Todd Tremblay of Horvath & Tremblay represented the buyer and seller, both of which requested anonymity, in the transaction.
NATICK AND MILLIS, MASS. — Anthology Senior Living has opened Anthology of Natick and Anthology of Millis, both located in western suburbs of Boston. Located just outside the city center on 5.5 acres, Anthology of Natick offers assisted living and memory care. Anthology of Millis is a luxury community offering independent living, assisted living and memory care services. The number of units at each property was not disclosed.
BOSTON — MassHousing has provided $14.5 million in financing for Farnsworth House, a 76-unit affordable seniors housing complex in Boston’s Jamaica Plain neighborhood. The seven-story building was originally constructed in 1982 and consists of 69 one-bedroom units and seven two-bedroom apartments. The borrower, Charles H. Farnsworth Senior Housing Corp., will use the proceeds to refinance existing debt, fund capital improvements and preserve the property’s affordability status. Among the improvements planned for the property are roof replacement, parking lot refurbishment, the removal of an underground oil tank and upgrading of the various electrical and security systems and components.