LAWRENCE, MASS. — Boston-based Berkeley Investments has purchased two light industrial buildings totaling 340,000 square feet at 246 and 250 Canal St. in Lawrence, a northern suburb of Boston. Andrea Management sold the assets, which were originally built as commercial mills, to Berkeley Investments for an undisclosed price.
BOSTON — Newmark has arranged the sale of a 52,337-square-foot medical office building located at 147 Milk St. in downtown Boston. The 10-story property was fully leased at the time of sale to Atrius Health/Harvard Vanguard Medical Associates, the largest independent physicians’ group in New England. Robert Griffin, Frank Nelson and Michael Greeley of Newmark represented the seller, New York City-based institutional investment firm BentallGreenOak, in the transaction. The trio also procured the buyer, KanAm Grund, an investment firm based in Frankfurt, Germany.
WALTHAM, MASS. — Bank of America has signed a 23,330-square-foot office lease expansion at Cityside, located at 1025-1075 Main St. in the western Boston suburb of Waltham. Ryan Romano, Tom Hansen and Malcolm See of CBRE represented the tenant in the lease negotiations. Rob Byrne and Liz McLaughlin of Cushman & Wakefield represented the landlord, locally based investment firm The Davis Cos.
CHICOPEE, MASS. — Stream Capital Partners has arranged a $34.4 million industrial sale-leaseback for National Convenience Distributors, which serves the convenience store industry, in the western Massachusetts city of Chicopee. The transaction encompassed five properties totaling 381,355 square feet. Daniel Macks, Chelsea Mandel and Jeff Lizzo of Stream Capital Partners represented National Convenience Distributors, the seller and tenant, in the transaction. The buyer was an undisclosed REIT.
BOSTON — Newmark has brokered the $11.9 million sale of a 27,930-square-foot retail and medical office building located at 226 Harvard Ave. in the Allston neighborhood of Boston. The property was 94 percent leased at the time of sale to Urban Outfitters, Steward Medical Group and Unleashed by Petco. Robert Griffin, Geoffrey Millerd, Frank Nelson, Michael Greeley, Jonathan Martin, Paul Penman, Mathew Adler, Christopher Huesgen and Coley Cannon of Newmark represented the seller, National Development, in the transaction. The team also procured the buyer, Charlotte-based investment firm Asana Partners.
MEDFORD, MASS. — Inkbit, a technology firm known for its innovations in 3D printing, has signed a 38,300-square-foot office lease for its new headquarters at One Cabot Road in Medford, a northern suburb of Boston. Joseph Pearce and Michael Frisoli of Newmark represented the tenant in the lease negotiations. Debra Gould and Rory Walsh, also with Newmark, represented the landlord, locally based investment firm The Davis Cos.
NEW BEDFORD, MASS. — WinnDevelopment has broken ground on the $19.2 million redevelopment of the historic Cliftex Mill building in New Bedford, about 60 miles south of Boston. The project will convert the 114-year-old building into a 71-unit mixed-income housing development for adults 55 and older. The majority of the units (56) will be reserved for renters earning 60 percent or less of the area median income. Amenities will include a fitness center and a resident lounge. Completion is slated for August.
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.