EVERETT, MASS. — The Neighborhood Developers, a Massachusetts-based nonprofit organization, is underway on construction of an affordable housing project in Everett, a northern suburb of Boston. The project will add 77 units for seniors age 62 and above, as well as a 4,000-square-foot healthcare facility, to the local supply. The project also includes six townhomes that will be listed for sale at below-market prices. A completion date was not disclosed.
BOSTON — Global investment management firm Loomis, Sayles & Co. has signed a 232,000-square-foot office lease extension and restructuring at One Financial Center in downtown Boston. Ron Perry, Larry Epstein and Matt Perry of Avison Young represented the tenant in the lease negotiations. Bill Anderson, Dave Martel and Allison Cavanaugh of Newmark represented the landlord, a joint venture between MetLife Investment Management and Norges Bank Investment Management. The deal, which keeps the tenant on the premises with a reduced footprint through 2037, marks the largest office lease transaction in Boston since mid-2019, according to the brokerage team.
WILMINGTON, MASS. — An affiliate of Harbor Group International (HGI) has purchased Regency Place, a 120-unit multifamily property in Wilmington, a northern suburb of Boston. The property is situated on 11.8 acres and features one- and two-bedroom units with an average size of 1,012 square feet. Amenities include a pool, fitness center and a community room. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller, an institutional investor advised by CBRE Global Investors, and procured HGI as the buyer.
HANOVER, MASS. — Callahan Construction Managers has broken ground on a 114-bed assisted living community in Hanover, located southeast of Boston. Benchmark Senior Living will operate the property, which will comprise 97 units and 91,000 square feet. Amenities will include a library, activity rooms, salons, wellness rooms and outdoor courtyards. Completion is slated for summer 2022. The project marks Callahan’s fourth assisted living project with Benchmark in New England.
NEEDHAM, MASS. — Locally based firm SSG Development has completed a 986-unit self-storage facility at 540 Hillside Ave. in the southwestern Boston suburb of Needham. Westport Properties Inc. will manage and operate the Class A property, which totals 123,000 square feet of climate- and non-climate-controlled space, under its U.S. Storage Centers brand.
LAWRENCE, MASS. — Unitex, a provider of commercial laundry services, has opened a 90,000-square-foot industrial facility, located north of Boston, in a move that is expected to add about 200 new jobs to the local economy. The facility is located at the site of the former plant of can manufacturer Crown Holdings and will be used to service the metro Boston life sciences and healthcare industries. Seyon Group, a Boston-based investment firm, owns the building in which the facility is situated.
WATERTOWN, MASS. — Boston Development Group (BDG) has received approval from the Watertown Zoning Board of Appeals to move forward with construction of a new life sciences project in the western Boston suburb. Elkus Manfredi Architects is designing the project, which will be built in two phases and will include traditional office, lab and research and development uses. Construction of Phase I, which will feature 200,000 square feet of office and lab space and open green space, is scheduled to begin during the first quarter.
WATERTOWN, MASS. — Locally based brokerage firm ABG Commercial has arranged the $21.5 million sale of a 145,000-square-foot industrial flex building located at 580 Pleasant St. in Watertown, a western suburb of Boston. Bernard Gibbons and Stephanie Deering of ABG Commercial represented the seller and occupant, Fluid Management Systems Inc., in the transaction. The duo also procured the buyer, a partnership between Griffith Properties and a fund controlled by New York-based DRA Advisors. The new ownership plans to convert the building into a life sciences facility that is slated to be complete in summer 2022.
NEWTON, MASS. — Dana-Farber has opened a 140,000-square-foot cancer treatment center at the site of the former Atrium Mall, located at 300 Boylston St. in Newton, a western suburb of Boston. The Bulfinch Companies led the redevelopment of the two-story facility, which offers a range of cancer therapy practices, clinical trials and supportive services for adult patients and families throughout the region. Bulfinch acquired the property in 2012 with plans to convert it into a medical and wellness facility.
STONEHAM, MASS. — RK Centers, a retail investment firm with offices in New England and Florida, has acquired a 119,568-square-foot building leased to BJ’s Wholesale Club in the northern Boston suburb of Stoneham. The sales price was $20 million. The building is situated on a 9.2-acre site near the junction of Interstates 93 and 95. Eastern Retail Properties represented the locally based seller, IYH Corp., in the transaction.