Massachusetts

Cornerstone Arranges $53.3M Construction Loan for Multifamily Project in Shrewsbury, Massachusetts

by Taylor Williams May 28, 2021

SHREWSBURY, MASS. — Cornerstone Realty Capital has arranged a $53.3 million construction loan for Edgemere Crossing, a 250-unit multifamily project in Shrewsbury, located outside of Worcester. The property will consist of 116 one-bedroom units and 134 two-bedroom units that will be furnished with stainless steel appliances, granite countertops and vinyl plank flooring. Amenities will include a conference center, kitchen room, fitness center, dog park, pool and a resident clubhouse. The borrower, a joint venture between The Dolben Co. Inc. and Belmont Capital, expects to complete construction by the first quarter of 2023. The loan was structured with a floating interest rate, 36 months of interest-only payments and a 30-year amortization schedule.

May 28, 2021

Acquisitions Industrial Massachusetts Northeast Self-Storage

Marcus & Millichap Brokers Sale of Self-Storage Development Site in Hubbardston, Massachusetts

by Taylor Williams May 27, 2021

HUBBARDSTON, MASS. — Marcus & Millichap has brokered the sale of a self-storage development site in Hubbardston, about 45 miles west of Boston. The site is zoned for the development of 288 non-climate-controlled units totaling 47,800 net rentable square feet. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller and the buyer, both of which requested anonymity, in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.

May 27, 2021

Loans Massachusetts Northeast Office

EagleBridge Capital Arranges $4.7M Acquisition Loan for Metro Boston Office Building

by Taylor Williams May 27, 2021

FOXBOROUGH, MASS. — Boston-based mortgage banking firm EagleBridge Capital has arranged a $4.7 million acquisition loan for a 64,319-square-foot office building in Foxborough, a southern suburb of Boston. The two-story building sits on 6.4 acres within Foxborough Business Center. Ted Sidel of EagleBridge Capital placed the debt through a New England-based financial institution on behalf of the undisclosed borrower.

May 27, 2021

Acquisitions Massachusetts Northeast Retail

JLL Negotiates Sale of 85,000 SF Shopping Center in Hudson, Massachusetts

by Taylor Williams May 21, 2021

HUDSON, MASS. — JLL has negotiated the sale of Center at Hudson, an 85,000-square-foot shopping center in Hudson, about 30 miles west of Boston. A Stop & Shop grocery store anchors the property, which was 96 percent leased at the time of sale. Other tenants include Expo Nails, The Paper Store, Sperry’s Liquors and Eye Care Center. Nat Heald, Chris Angelone and Zach Nitsche of JLL represented the undisclosed seller in the transaction. The buyer was NNM Realty Trust, a regional owner-operator.

May 21, 2021

Acquisitions Healthcare Massachusetts Northeast

Jacobson Properties Brokers $9.2M Healthcare Building in Swansea, Massachusetts

by Taylor Williams May 21, 2021

SWANSEA, MASS. — Jacobson Properties has brokered the $9.2 million sale of the East Bay Ambulatory Care Building, a 23,072-square-foot healthcare building in Swansea, located in the southern part of the state. The property was fully leased to East Bay Surgery Center, which focuses on ophthalmology, and Steward Saint Anne’s Hospital Center for Pain Management. East Bay Surgery Center Real Estate LLC sold the property to an undisclosed national healthcare real estate firm. Lisa Menin of Jacobson Properties brokered the deal.

May 21, 2021

Leasing Activity Massachusetts Northeast Office

IBM Signs 150,608 SF Office Lease at CrossPoint in Lowell, Massachusetts

by Taylor Williams May 20, 2021

LOWELL, MASS. — IBM has signed a 150,608-square-foot office lease at CrossPoint, a three-building office park located in the northern Boston suburb of Lowell. A partnership between Boston-based Anchor Line Partners LLC and CrossHarbor Capital Partners LLC owns CrossPoint, which offers amenities such as a 24-hour fitness center and game room, onsite daycare facility, full-service café and bistro and a conference center. Blake Baldwin, Michael Dalton and Shayne O’Neil of Cushman & Wakefield, along with Peter Dominski of Anchor Line Partners, represented building ownership in the lease negotiations. Brendan Callahan, Gabrielle Harvey and Brian Tisbert of JLL represented IBM, which plans to take occupancy of the space in January.

May 20, 2021

Acquisitions Massachusetts Northeast Office

Coldwell Banker Brokers $5.1M Sale of Office Building in Chestnut Hill, Massachusetts

by Taylor Williams May 19, 2021

CHESTNUT HILL, MASS. — Coldwell Banker Commercial NRT has brokered the $5.1 million sale of The Pearl, an 18,000-square-foot office building in Chestnut Hill, located west of Boston. The four-story property was built on a half-acre parcel in 1973 and includes onsite parking. Todd Glaskin of Coldwell Banker represented the undisclosed seller in the transaction. The name and representative of the buyer were also not disclosed.

May 19, 2021

Acquisitions Healthcare Massachusetts Northeast Office

Greatland, Singerman Acquire 288,528 SF Office, R&D Campus in Metro Boston

by Taylor Williams May 17, 2021

LEXINGTON, MASS. — A partnership between Greatland Realty Partners and Singerman Real Estate has acquired a 288,528-square-foot office/research and development campus located at 10 Maguire Road in the northern Boston suburb of Lexington. The four-building property is located near the I-95/Route 128 and Route 3 interchange and features an open-air food hall with indoor and outdoor seating. JLL is marketing the property for lease to life sciences and technology users.

May 17, 2021

Leasing Activity Massachusetts Northeast Office

WHOOP Signs 121,000 SF Office Headquarters Lease at Kenmore Square in Boston

by Taylor Williams May 17, 2021

BOSTON — WHOOP, a locally based sports tech and analytics company, has signed a 121,000-square-foot office headquarters lease in the Kenmore Square area of Boston. The company will occupy all eight floors of office space at the newly delivered Commonwealth Building, as well as a portion of the ground-floor retail space. WHOOP expects to house as many as 1,000 employees within the building. Robert Jangro of JLL represented WHOOP in the lease negotiations. Dave Martel, Mike Greeley and Jason Cameron of Newmark represented the landlord, Related Beal.

May 17, 2021

Acquisitions Industrial Massachusetts Northeast

JLL Brokers $7.4M Sale of Industrial Property in Norwood, Massachusetts

by Taylor Williams May 17, 2021

NORWOOD, MASS. — JLL has brokered the $7.4 million sale of a 44,406-square-foot industrial property in Norwood, a southern suburb of Boston. The facility was built in 1980 and was fully leased to computer hardware manufacturer Source Code at the time of sale. Matthew Sherry and Michael Restivo of JLL represented the seller, Arris Partners LLC, in the transaction. The buyer was locally based investment firm Berkeley Partners.

May 17, 2021

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