CAMBRIDGE, MASS. — Urban Spaces has sold 85-95 First Street, a 10,000-square-foot retail building in Cambridge, for $11.2 million. The building was competed in June with 4,600 square feet of space preleased to specialty pet food and supply store Loyal Companion. Paint supply store Sherwin-Williams has also agreed to lease 2,900 square feet, and another undisclosed tenant has agreed to lease the remaining 2,500 square feet. Conviser Property Group represented Urban Spaces in the building sale.
WORCESTER, MASS. — Kelleher & Sadowsky Associates Inc. has brokered the sale of Worcester Plaza Tower, a 244,000-square-foot office tower in central Massachusetts. The sales price was $16.5 million. The 24-story tower is the tallest office building in Worcester. Kelleher & Sadowsky represented the seller, S-BNK Worcester Main, an entity registered to the Casey Brothers Trust of Boston. The firm also procured the buyer, Synergy Investments, which plans to make capital improvements to the property.
BOSTON — Alduwaliya, a Qatar-based investment firm, has purchased 99 Chauncy Street and 101 Summer Street, two office buildings totaling 159,781 square feet in Boston’s Financial District. Both properties include ground-floor retail space and were fully leased at the time of sale to tenants with an average weighted lease term of 7.2 years. Scott Dragos, Doug Jacoby, Chris Skeffington, Roy Sandeman, Anthony Hayes, Timothy Mulhall and Daniel Hines of CBRE represented the seller, Nuveen Real Estate, in the transaction. The price was not disclosed.
BOSTON — Newmark Knight Frank (NKF) has brokered the sale of 100 Summer Street, a 1.1 million-square-foot office building in downtown Boston. The 32-story tower, which was built in 1974 and includes ground-floor retail space, features amenities such as a coffee bar, gaming areas, fitness center and close access to the South Station transit hub. Office tenants include Bloomberg News and software company CloudHealth Technologies. Retail tenants include Common Vines Wine Shop and Sebastians Cafe. Edward Maher, Matthew Pullen, James Tribble, Robert Griffin, David Martel and Timothy Bianchi of NKF represented the seller, a partnership between The Blackstone Group and EQ Office, in the transaction. David Douvadjian Sr., Brian Butler, Timothy O’Donnell and David Douvadjian Jr. represented the buyer, Rockpoint Group. The sales price was undisclosed.
BOSTON — Marcus & Millichap has brokered the $3.6 million sale of 338-342 Warren Street and 74-76 Rockland Street, two multifamily properties located in the Roxbury neighborhood of Boston. The asset at 338-342 Warren St., which comprises six three-bedroom apartments and two commercial spaces, sold for $2.2 million. The asset at 74-76 Rockland St., which comprises six apartments in two- and three-bedroom floor plans, sold for $1.3 million. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap brokered both sales. The deal closed at a capitalization rate of 6.11 percent.
BOSTON — Klaviyo, a tech firm that develops marketing software for e-commerce users, has signed a 160,000-square-foot office lease in Boston, according to The Boston Business Journal. The company will move from its 25,000-square-foot facility at 225 Franklin St. to the new location at 125 Summer St, an expansion that will create about 700 new jobs in the company’s primary engineering, sales and support teams. Oxford Properties Group is the landlord of both buildings at 225 Franklin St. and 125 Summer St.
MARLBOROUGH AND BILLERICA, MASS. — Berkeley Partners has acquired two industrial flex properties near Boston for $14.5 million. The two single-building properties, which include 734 Forest Street in Marlborough and 35 Dunham Road in Billerica, total 120,796 square feet. Both buildings were 100 percent leased at the time of sale. Scott Dragos, Doug Jacoby, Chris Skeffington, Roy Sandeman, Anthony Hayes, Timothy Mulhall and Daniel Hines of CBRE represented Berkeley Partners in the transaction. The team also represented the seller, The RAM Companies USA.
BOSTON — Gables Residential and Drew Co. are nearing completion of Gables Seaport, a 307-unit apartment building in the Boston’s Seaport District. The 23-story building will offer studio, one- and two-bedroom units, as well as an outdoor terrace, lounge and pool. CBT Architects designed the building, and Halvorson Design served as the architect for the roof deck and amenity spaces. The property is slated to open in March 2020.
TAUNTON, MASS. — Dacon Corp. has completed the design and construction of a 10,500-square-foot headquarters expansion for beer distributor Quality Beverage in Taunton, located approximately 30 miles south of Boston. The $1.8 million project comprised a ground-up construction of a climate-controlled warehouse adjacent to the company’s existing headquarters in the Myles Standish Industrial Park.
BOSTON — Shell TechWorks, an entrepreneurial research division of oil and gas giant Shell, has signed a 43,821-square-foot office lease at Two Drydock, an office building currently under construction in Boston’s Seaport district. Skanska is developing and constructing the 230,000-square-foot, Class A office building, which is slated for completion by early 2020. The building will feature an 8,000-square-foot rooftop terrace and a 5,500-square-foot amenity space with a fitness center, lounge and bike space. Shell TechWorks will occupy floors five and six of the building.
