NORWOOD, MASS. — Moderna Inc. will expand its Moderna Technology Center biomanufacturing campus in Norwood, a southern suburb of Boston, by about 350,000 square feet. The biotechnology and pharmaceutical giant plans to renovate and expand its existing production and lab space and has acquired a 240,000-square-foot building on the same campus, ultimately yielding a 50 percent expansion and a total footprint of 650,000 square feet. The expansion will support Moderna’s efforts to ramp up production of its COVID-19 vaccine in late 2021 and early 2022. Moderna originally opened this facility in 2018.
BROCKTON, MASS. — The Stubblebine Co. has brokered the $5.1 million sale of a 60,000-square-foot industrial building in Brockton, a southern suburb of Boston. The property offers clear heights of 24 to 28 feet and a fully built-out retail showroom. David Skinner, David Stubblebine and James Stubblebine of The Stubblebine Co. represented the seller, FW Webb Co., in the transaction. Mark Donahue of M. Donahue Associates represented the buyer, WB Mason.
HAVERHILL, MASS. — Monogram Food Solutions, a manufacturer of prepared foods based in Memphis, will open a 135,000-square-foot production facility within Cedar Brook Park in Haverhill, a northern suburb of Boston. Paradigm Properties is developing the facility as a build-to-suit for Monogram that will consist of 109,000 square feet of multi-temperature warehouse space and a 26,000-square-foot sandwich assembly area. Massachusetts-based design-build firm Dacon Corp. is the design-build firm. Construction is underway and scheduled for completion in mid-2022.
CHELSEA, MASS. — Bellingham Square LLC, a partnership between Vantage Real Estate, Harbor Run Development and Wallace Capital, has acquired a portfolio of six multifamily buildings totaling 90 units in Chelsea, a northeastern suburb of Boston. The sales price was $19 million. The portfolio features studio, one- and two-bedroom units and has a historical occupancy rate above 97 percent. John Kelly and Collin Brennan of CBRE arranged $15 million in acquisition financing for the deal. A portion of those proceeds will be used to fund renovations.
NEEDHAM, MASS. — International Data Group (IDG), a market research and data analytics firm, has opened a new, 125,000-square-foot office headquarters in the western Boston suburb of Needham. The company will consolidate its three main business units — IDC, IDG Communications and primary corporate entity IDG — under one roof. Dyer Brown, an architecture and interior design firm with offices in Boston and Atlanta, designed the facility, which can accommodate about 500 employees.
BOSTON — A partnership between Los Angeles-based investment firm CIM Group and Massachusetts-based Nordblom has sold 1000 Washington St. and 321 Harrison Ave., two office towers in Boston’s South End neighborhood totaling 475,000 square feet. The partnership originally purchased the properties, in 2017 and repositioned them: 1000 Washington Street, an 11-story, 242,000-square-foot building was renovated to provide Class A office space; and 321 Harrison Avenue, a three-story parking garage, was expanded by eight floors to create an 11-story, 233,000-square-foot office building. Funds managed by Blackstone acquired the buildings, and life sciences company BioMed Realty will operate the properties.
BRAINTREE, MASS. — New York-based Clarion Partners has purchased a 58,935-square-foot biomanufacturing facility at 55 Messina Drive in Braintree, a southern suburb of Boston. The property features six wet labs, temperature-controlled rooms, a new water filtration system and 18.5-foot ceiling heights. The facility was fully leased to Zimmer Biomet, a global leader in musculoskeletal healthcare, at the time of sale. Scott Dragos of CBRE brokered the deal. The seller was not disclosed.
LEXINGTON, MASS. — Locally based developer Greatland Realty Partners has broken ground on Revolution Labs, a 180,000-square-foot life sciences project in Lexington, a northwestern suburb of Boston. Revolution Labs will feature purpose-built laboratory infrastructure, full-service onsite amenities and multi-functional outdoor spaces. SGA is the project architect, and Callahan Construction Managers is the general contractor. JLL is handling leasing for the property. The development team expects the property to be available for occupancy by the third quarter of 2022.
WATERTOWN, MASS. — A joint venture between two locally based firms, The Davis Cos. and Boston Development Group, will develop a 450,000-square-foot life sciences campus at 66 Galen St. in the western Boston suburb of Watertown. Phase I of the project, construction of which is set to begin in May, will consist of a 224,106-square-foot research and lab building. Amenities will include a fitness center, bike room and an onsite café and retail space. Elkus Manfredi is the architect for the project. About 40 percent of the site’s total acreage will be dedicated to parks and green spaces.
QUINCY, MASS. — JLL Capital Markets has arranged the $295 million sale of a portfolio of 11 single-tenant retail buildings net leased on a long-term basis to Stop & Shop in markets throughout Connecticut, Massachusetts and Rhode Island. JLL marketed the portfolio on behalf of the sellers, Winstanley Enterprises and Surrey Equities. The Inland Real Estate Group of Cos. Inc. was the buyer. Additionally, JLL arranged two acquisition loans totaling approximately $158 million on behalf of the new owner. The two 10-year, fixed-rate loans were originated by JLL through a life insurance company and a CMBS lender. The 11 buildings in the portfolio are all net leased to Stop & Shop, a division of Ahold Delhaize USA Inc., which is the third-largest supermarket operator in the U.S. Quincy, Mass.-based Stop & Shop is the No. 1 grocer by market share in Connecticut, Massachusetts and Rhode Island, according to JLL. The 748,141-square-foot portfolio includes three properties in the Boston area; one in the Cape Cod, Mass. area; four in the Providence, R.I. area; and three in the Hartford, Connecticut area. According to a JLL research report, titled “U.S. Grocery Tracker 2021,” grocery-anchored retail centers continue to be investors’ preferred retail property …