BOSTON — SVN | Parsons Commercial Group has brokered the $7 million sale of a portfolio of four retail buildings totaling 15,181 square feet in Massachusetts. Rockland Trust occupies each of the buildings, which are located at 40 Austin St. in Newton, 1290 Main St. in Waltham, 4 N. Main St. in Bellingham and 231 E. Central St. in Franklin. The buyer and seller were not disclosed. Marilyn Santiago of SVN | Parsons Commercial Group brokered the deal.
NEW YORK CITY — New York City-based institutional investment firm BentallGreenOak has acquired a portfolio of nine industrial buildings totaling approximately 700,000 square feet in New England. The properties are located in Wilmington and Billerica, Massachusetts, and Londonderry, New Hampshire. Chris Skeffington and Scott Dragos of CBRE represented the seller, Novaya Real Estate Ventures, and also procured BentallGreenOak as the buyer. The portfolio was 94 percent leased at the time of sale.
LAWRENCE, MASS. — Marcus & Millichap has brokered the sale of a 135,770-square-foot industrial property located at 516 Broadway St. in Lawrence, located north of Boston. The sale included a 275-space parking lot. The property was originally built around the turn of the 20th century and upgraded over the years, most recently to include the additions of five new truck docks and an office showroom. Harrison Klein and Luigi Lessa of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties requested anonymity.
HAVERHILL, MASS. — Edwards Vacuum, a manufacturer owned by Swedish industrial conglomerate Atlas Copco, will open a 121,800-square-foot facility in Haverhill, located north of Boston. The property will feature space for office, manufacturing, warehousing and research and development. The largest portion of the first floor centers on manufacturing, alongside warehouse/storage, R&D labs, a training room, cafeteria, fitness area and bike storage space. Offices, conference rooms and an observation room will be situated in the mezzanine area. Dacon Corp. is designing the project, which is expected to bring about 200 new jobs to the area. Completion is slated for the second quarter of 2022.
WALTHAM, MASS. — Design firm Bergmeyer and construction management firm J. Calnan & Associates (JC&A) have completed a 180,000-square-foot life sciences redevelopment project in the western Boston suburb of Waltham. The property, which features traditional office and lab space, will serve as the new headquarters for robotics firm Boston Dynamics. Amenities include kitchens and a fitness center, as well as mothers’ and quiet rooms.
CLINTON, MASS. — The Stubblebine Co., a locally based brokerage firm, has negotiated an 84,029-square-foot industrial lease at 100 Adams Road in Clinton, located north of Worcester. The property spans 355,000 square feet on a 20-acre tract and features a clear height of 32 feet. David Stubblebine, James Stubblebine, Alan Ringuette and David Skinner of The Stubblebine Co. represented the landlord, a partnership between private equity firm Marcus Partners and investment firm Northbridge Partners, in the lease negotiations. James Lipscomb and Joe Fabiano of CBRE represented the tenant, Tighe Warehousing & Distribution Inc.
LAWRENCE, MASS. — Berkadia has arranged the $95 million sale of the Merrimack Valley Portfolio, a duo of multifamily buildings totaling 372 units in Lawrence, located north of Boston. The portfolio consists of Mill 240, a 217-unit complex that was renovated in 2019; and Washington Mills, a 155-unit property that was renovated in 2007. Both properties include amenities such as dog parks, fitness centers, yoga studios, business centers and outdoor theaters complete with fire pits and bocce ball courts. Jennifer Athas and Matt Olson of Berkadia represented the seller, an entity comprised of two locally based limited partnerships, in the transaction. The buyer was Boston-based Berkeley Investments Inc.
SALEM AND WILMINGTON, MASS. — Eastern Union has provided $31 million in financing for a pair of skilled nursing facilities totaling 265 beds in Massachusetts. The first property is a 123-bed facility in Salem, and the second is a 142-bed clinic in Wilmington. The overall package was structured with limited recourse, a three-year term, an 85 percent loan-to-value ratio and a floating interest rate. Proceeds will be used to refinance existing debt and fund capital improvements. Nachum Soroka and Jacob Shonland of Eastern Union handled the transaction. The borrower was not disclosed.
BOSTON — Illinois-based general contractor Cicero Construction Group has completed the renovation of the Staypineapple Boston, a 56-room boutique hotel in the city’s South End neighborhood. The project included a rebranding of the hotel, formerly known as the Chandler Inn, as part of Seattle-based Staypineapple chain, which purchased the property in February 2018. Renovations delivered upgraded beds and bathrooms to rooms, as well as new flooring, paint, wall coverings and other interior improvements to the lobby, hallways and common areas.
ANDOVER, MASS. — Tampa-based SkyView Advisors has arranged the sale of a 470-unit self-storage facility located at 17 Dundee Park Drive in Andover, a northern suburb of Boston. The property is situated on 1.5 acres and spans 65,836 net rentable square feet. Richard Riddle and Ryan Clark of SkyView Advisors represented the seller in the transaction. Additional terms of sale were not disclosed.