Massachusetts

CBRE Brokers Sale of 914-Unit Multifamily Property in in Norwood, Massachusetts

by Alex Patton August 28, 2019

NORWOOD, MASS. — CBRE has brokered the sale of Commons at Windsor Gardens, a 914-unit multifamily property in Norwood, a southern suburb of Boston. The property consists of 77 buildings with floorplans including 682 apartments and 232 townhomes. The Windsor Gardens commuter rail station is located onsite, offering a direct line to Boston. Simon Butler and Biria St. John of CBRE represented the seller, Windsor Gardens Propco LLC, in the transaction. The CBRE team also procured the buyer, which was undisclosed.

August 28, 2019

Acquisitions Massachusetts Northeast Retail

Marcus & Millichap Negotiates $58M Sale of Retail Center in Attleboro, Massachusetts

by Alex Patton August 23, 2019

ATTLEBORO, MASS. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $58 million sale of Bristol Place, a retail center located about 30 miles south of Boston. At the time of sale, the property was 88 percent leased to tenants including Market Basket, Home Depot and Hobby Lobby. Joseph French, Glen Kunofsky, Thomas Dalzell, Russell Wachtler of IPA represented the undisclosed seller in the transaction. French procured the buyer, a joint venture between a Boston-based private real estate firm and an institutional investor.

August 23, 2019

Development Massachusetts Multifamily Northeast

Fantini & Gorga Arranges $20.5M Construction Loan for Multifamily Project in Mansfield, Massachusetts

by Alex Patton August 23, 2019

MANSFIELD, MASS. — Fantini & Gorga has arranged a $20.5 million construction loan for 300 North Main, a multifamily development in Mansfield, a city located about 25 miles south of Boston. Two undisclosed, Massachusetts-based financial institutions provided a total of $19 million, and a group of private investors provided and additional $1.5 million. The property will offer one- and two-bedroom apartments, including 15 affordable units, as well as 11,674 square feet of retail space. A joint venture between two Massachusetts-based developers, Arista Development LLC and Crugnale Properties LLC, will develop the project. Massachusetts-based Annino Inc. is the architect. Construction is slated for completion in mid-2020.

August 23, 2019

Loans Massachusetts Northeast Office

JLL Arranges $28M in Acquisition Financing for Office Complex in Burlington, Massachusetts

by Alex Patton August 21, 2019

BURLINGTON, MASS. — JLL has arranged a $28 million acquisition loan for 10 and 20 Mall Road, two office buildings totaling 154,378 square feet in Burlington, a northwestern suburb of Boston. Peoples United Bank provided the loan, which carries a fixed interest rate and a 10-year term. 10 Mall Road contains 58,160-square-feet and is leased to four tenants. 20 Mall Road contains 96,218 square feet and is leased to approximately 20 tenants. Lauren O’Neil and Brett Paulsrud of JLL arranged the financing on behalf of the borrower, R.J. Kelly Co. The seller was undisclosed.

August 21, 2019

Massachusetts Multifamily Northeast Seniors Housing

Capitol Seniors Housing Opens 96-Unit Community in Andover, Massachusetts

by Alex Patton August 21, 2019

ANDOVER, MASS. — Capitol Seniors Housing, a developer based in Washington D.C., has opened Stone Hill at Andover, a 96-unit community located about 25 miles north of Boston. The 81,500-square-foot community offers one- and two-bedroom units and provides independent living, assisted living and a specialized program focusing on Alzheimer’s disease and dementia care. Additional amenities include a bistro, activity room, fitness room, theater, salon and courtyard. Pennsylvania-based Meyer Senior Living Studio designed the property.

August 21, 2019

Massachusetts Northeast Office

Bulfinch Acquires 193,000 SF Office Building in Cambridge, Massachusetts

by Alex Patton August 19, 2019

CAMBRIDGE, MASS. — Bulfinch, a Boston-based investment firm, has acquired a 193,000-square-foot office building in Cambridge. The office is located within the 27-acre Cambridge Discovery Park (CDP) development, and is 100 percent leased to market research company Forrester Research. With the acquisition, Bulfinch now owns all of CDP’s lab, office research and development facilities. People’s United Bank provided long-term financing for the acquisition.

August 19, 2019

Industrial Leasing Activity Massachusetts Northeast

Colliers Negotiates 62,000 SF Industrial Lease in Peabody, Massachusetts

by Alex Patton August 15, 2019

PEABODY, MASS. — Colliers International has negotiated a 62,000-square-foot industrial lease in Peabody, a suburb of Boston. Needham-based contractor Bowdoin Construction will convert the warehouse property into a printing facility for the new tenant, Spire Printing. Greg Klemmer, Tim Brodigan, Tim Allen and Dan Driscoll of Colliers represented the landlord, Boston-based Novaya Ventures, in the lease negotiations. John Cremmen of Boston-based Denenberg Realty Advisors represented Spire, which will move into the property in late summer 2019.

August 15, 2019

Hospitality Massachusetts Northeast

Boston Properties Opens 272-Room Hotel in Boston

by Alex Patton August 14, 2019

BOSTON — Boston Properties has opened a 272-room hotel at The Hub on Causeway, a 2 million-square-foot mixed use development in Boston. Dutch brand citizenM will operate the hotel. The Hub houses direct connections to several entertainment and retail destinations in Boston, including the North Station transit line and TD Garden sports arena. California-based architecture firm Gensler designed the hotel, citizenM’s first property in the United States outside of New York.

August 14, 2019

Acquisitions Massachusetts Multifamily Northeast

Bell Partners Purchases 148-Unit Multifamily Community in Salem, Massachusetts

by Alex Patton August 7, 2019

SALEM, MASS. — Bell Partners Inc., a North Carolina-based property investment and management company, has purchased Vinnin Square Apartment Homes, a 148-unit multifamily property in Salem, a city located northeast of Boston. The property, which will be renamed Bell North Shore, comprises two five-story buildings, 16 townhomes and two additional buildings containing six units each. Amenities include a fitness center, walking trails, tennis courts and a pool. The seller and sales price were undisclosed.

August 7, 2019

Development Industrial Massachusetts Northeast

TMC Holdings to Develop 50,000 SF Industrial Property in Franklin, Massachusetts

by Alex Patton August 5, 2019

FRANKLIN, MASS. — TMC Holdings & Development LLC will develop a 50,000-square-foot industrial property in Franklin, about 30 miles southwest of Boston. Formerly the site of a glass recycling facility, the property is located in the Marijuana Overlay District with frontage on I-495. TMC Holdings plans to demolish the facility and build a 50,000-square-foot warehouse with 22 to 24-foot clear heights. Construction is slated to begin in fall 2019. John Eysenbach of R.W. Holmes represented TMC Holdings in the transaction, as well as the seller, Strategic Materials Inc.

August 5, 2019

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