Massachusetts

Dacon, Senior Metal Bellows Break Ground on 47,000 SF Flex Facility in Massachusetts

by David Cohen January 31, 2019

SHARON, MASS. — Precision components manufacturer Senior Metal Bellows and construction management firm Dacon have broken ground on a two-story, 47,000-square-foot flex facility in Sharon. The property is an addition to an existing 65,000-square-foot facility at 1075 Boston Providence Highway in Sharon. The project consists of 25,700 square feet of manufacturing space on the first floor with 21,300 square feet of office space on the second floor. The expansion is Senior Metal Bellows’ sixth in the last 50 years due to growth in innovative capabilities, implementation of next-generation machinery and streamlining of operations. Norwood Engineering is the civil engineering firm of record. William Jackson of William Jackson Associates Inc. is serving as project manager. The project is slated for occupancy this summer.

January 31, 2019

Loans Massachusetts Northeast Office

NKF Arranges $71M Recapitalization of Office Building in Cambridge, Massachusetts

by David Cohen January 30, 2019

CAMBRIDGE, MASS. — NKF has arranged a $71 million recapitalization of a 63,943-square-foot office building in Cambridge. Located at 87 Cambridgepark Drive, the property is fully leased to biopharmaceutical companies Dicerna Pharmaceuticals and Ra Pharma. Edward Maher, Matthew Pullen, James Tribble and Samantha Hallowell of NKF’s Boston Capital Markets team secured financing for the borrowers, King Street Properties and The Carlyle Group. The lender was real estate investment trust HCP Inc.

January 30, 2019

Loans Massachusetts Multifamily Northeast

CBRE Arranges $68M Refinancing for Apartment Community in Boston

by David Cohen January 29, 2019

BOSTON — CBRE has arranged a $68 million loan to refinance Hub 25, a 278-unit apartment community in Boston. Located at 25 Morrissey Blvd, Hub 25 features a resort-style outdoor pool, city views, a 24-hour gym, theater and garage parking. John Kelly of CBRE secured the financing on behalf of the owner, Qianlong Morrissey LLC, through an undisclosed lender. Terms of the financing were not disclosed.

January 29, 2019

Acquisitions Hospitality Massachusetts Northeast

HFF Brokers Sale of 107-Room Nantasket Beach Resort Near Boston

by David Cohen January 29, 2019

HULL, MASS. — HFF has brokered the sale of the Nantasket Beach Resort, a 107-room full-service hotel in Hull. The sales price was not disclosed. Located at 45 Hull Shore Drive, the property is 12 miles south of Boston. Renovated in 2016, the oceanfront hotel features private balconies with ocean views, whirlpool baths, an indoor heated pool, fitness center, business center and an arcade. Denny Meikleham, Alan Suzuki and Matthew Enright of HFF represented the seller, Nantasket Resort Inc., in the transaction. The buyer was Newport Hotel Group.

January 29, 2019

Acquisitions Massachusetts Multifamily Northeast

NKF Negotiates $123.2M Sale of Apartment Tower in Boston

by David Cohen January 28, 2019

BOSTON — NKF has negotiated the $123.2 million sale of Serenity, a 195-unit apartment building in Boston. Located in the Jamaica Plain neighborhood of Boston, Serenity was completed in 2017 and features a two-story, dual-entrance lobby, lounge, elevated pool deck, private courtyard and fitness center. Michael Byrne, Thomas Greeley, Casey Griffin, Devlin Man and Andrew Herald of NKF’s Boston Capital Markets team represented the seller, Longwood Group, in the transaction. The buyer was Oxford Properties Group.

January 28, 2019

Loans Massachusetts Northeast Retail

Fantini & Gorga Arranges $2.4M Acquisition Loan for Retail Plaza in Massachusetts

by David Cohen January 28, 2019

BROCKTON, MASS. — Fantini & Gorga has arranged a $2.4 million acquisition loan for Eastway Plaza, a two-building retail plaza in in Brockton. Located at 587 Centre St., the property was built in 1982 and includes 11 retail units. The first building is leased to tenant roster that includes a liquor store, bakery and chiropractic office. The second building is currently leased to home improvement store Grossman’s Bargain Outlet. Casimir Groblewski and Jon Garcia of Fantini & Gorga secured the financing on behalf of a long-standing client through a Massachusetts-based credit union. Terms of the financing were undisclosed.

January 28, 2019

Development Massachusetts Northeast Retail

Market Basket Supermarket to Anchor Maynard Crossing Mixed-Use Project in Suburban Boston

by David Cohen January 24, 2019

MAYNARD, MASS. — Capital Group Properties and SRS Real Estate Partners have announced that Market Basket Supermarket will be the anchor grocery store for the Maynard Crossing mixed-use project in Maynard. The 306,000-square-foot development is slated to open in the first quarter of 2020. The project will also include The Vue at Maynard Crossing, a 180-unit apartment complex developed by LeCesse Development as well as a 143-unit independent living community for seniors developed by Hawthorn Retirement Group. The project will also feature multiple restaurants, retail shops, fitness options and medical offices. Maynard is approximately 25 miles west of downtown Boston.

January 24, 2019

Acquisitions Industrial Massachusetts Northeast

Stubblebine Co. Negotiates $4.4M Sale of Industrial Property in Massachusetts

by David Cohen January 23, 2019

AUBURN, MASS. — The Stubblebine Co. has negotiated the $4.4 million sale of a 75,000-square-foot industrial facility in Auburn. Located at 33 Sword St., the three-acre property was the former Imperial Distributors distribution center before Imperial relocated to its current location in Worcester. David Skinner, David Stubblebine and James Stubblebine of Stubblebine Co. represented the undisclosed seller in the transaction. The buyer was F.W. Webb Co., a wholesale distributor of plumbing, heating, cooling and industrial products. F.W. Webb currently has a location at 43 Sword Street and plans to open a new wholesale store at 33 Sword Street.

January 23, 2019

Acquisitions Industrial Massachusetts Northeast

Colliers Arranges $9.6M Acquisition Loan for Industrial Facility in Suburban Boston

by David Cohen January 22, 2019

NORTH ANDOVER, MASS. — Colliers International’s Boston-based Capital Markets group has arranged a $9.6 million acquisition loan for a 169,000-square-foot, single-story industrial asset in North Andover. Located at 25 Commerce Way, the property is situated on more than 18 acres of land. At the time of sale the facility was 99 percent leased to seven tenants. The property was completely renovated in 2001 and is less than 30 miles from Boston. Adam Coppola, Thomas Welch, John Poole and Tonia Jenkins of Colliers represented the borrower, Berkeley Partners, in arranging the financing through lender AEGON USA Realty Advisors. Terms of the financing were not disclosed.

January 22, 2019

Leasing Activity Massachusetts Northeast Office Top Stories

PUMA North America to Open 150,000 SF Office Headquarters Near Boston

by Taylor Williams January 21, 2019

SOMERVILLE, MASS. — Sports apparel and accessories company PUMA North America will open a new, 150,000-square-foot office headquarters at Assembly Row, a mixed-use destination in the northwestern Boston metro of Somerville. Federal Realty Investment Trust (NYSE: FRT) is developing Assembly Row. The new headquarters will be located at 455 Grand Union Blvd. The new building will total 300,000 square feet upon completion, and will bring together PUMA’s two nearby offices in Boston and Westford. The company expects the space to house about 550 employees across five floors beginning in 2021. The transit-served building also features a 19,000-square-foot roof deck complete with a recreational area and basketball court. Additional amenities include a fitness center, a kids’ room and bike storage. “We need to be faster than ever in the way we react and adapt,” says Adam Petrick, PUMA’s global director of branding and marketing. “Somerville is a city buzzing with creative, diverse energy that will help us live out our ‘Forever Faster’ mentality.” Assembly Row is a 40-acre project located along Interstate 93 and the MBTA Orange Line. The developer has launched Phase III of the project, which will feature more than $475 million in new development. Phase III will deliver a 500-unit …

January 21, 2019

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