MILFORD, MASS. — RD Management has signed leases with HomeGoods and T.J.Maxx at Milford Crossing, a shopping center located at 120-129 Medway Road in Milford. HomeGoods will occupy 24,628 square feet and T.J.Maxx will occupy 21,863 square feet. Both stores are expected to open this fall. The 157,921-square-foot shopping center is currently being redeveloped and will be anchored by a Stop & Shop, which is slated to open in November. Additionally, the center features new 6,000-square-foot and 20,000-square-foot buildings. The 20,000-square-foot building will be occupied by Chipotle and Starbucks Coffee, which are scheduled to open in the first quarter of 2018.
ORANGE, MASS. — Jash USA has purchased a heavy manufacturing facility located at 46 Mill St. in Orange from VAG USA for $1.6 million. Situated on 37.7 acres, the facility features 234,000 square feet of industrial space. Sentry Commercial and Newmark Knight Frank were the sole brokers in the transaction.
BILLERICA, MASS. — Calare Properties has completed the sale of a laboratory space located at 749 Middlesex Road in Billerica. An undisclosed buyer purchased the property for $6.2 million. Calare Properties originally acquired the vacant 40,000-square-foot lab facility in 2013 for $3.3 million while concurrently leasing the entire property to RainDance Technologies, a biotechnology company.
BEDFORD, MASS. — The Davis Cos. (TDC) has executed a lease renewal with iRobot. The global consumer robot company has renewed its long-term lease for 208,686 square feet of space at The Xchange. TDC renovated the eight-building, 475,000-square-foot office park into a cutting-edge technology campus. Matt Daniels of JLL represented the landlord, while John Varholak and Ron Friedman of Transwestern Consulting Group represented the tenant in the transaction.
BOSTON — CBRE/New England has arranged the sale of the leasehold interest of Boston’s Old City Hall, an 83,700-square-foot mixed-use building located at 45 School St. in downtown Boston. Synergy Investments acquired the property for $30.1 million. Constructed between 1862 and 1865, the building was renovated in 1970 by the seller, Architectural Heritage Foundation, after being vacated by the City of Boston in the mid-1960s. Dave Pergola and Brian Doherty of CBRE/NE represented the seller and procured the buyer in the deal.
BEVERLY AND DANVERS, MASS. — Colliers International has brokered the sale of a seven-building flex/industrial portfolio located in Beverly and Danvers, approximately 25 miles northeast of Boston. Brookwood Financial Partner sold the portfolio to R.J. Kelly Co. Inc. for $52.8 million. Scott Dragos, Doug Jacoby, Tony Hayes, Tim Mulhall and Dan Hines of Colliers represented the seller in the deal. Totaling more than 500,000 square feet, the portfolio is located at 24-42, 33, 35, 37, 54, 71 and 72 Cherry Hill Drive.
BOSTON — Bell Partners has purchased the 196-unit Olmsted Place apartment complex in the Boston submarket of Jamaica Plain for $103 million. The community is located at 161 S. Huntington Ave. Olmsted Place debuted in 2015. It is fully leased. The community overlooks Jamaica Pond, part of the Emerald Necklace park system designed by legendary landscape architect Frederick Law Olmsted. The seller was a joint venture between Boston Residential Group and the Carlyle Group. The JV purchased the site in 2012 for $10 million from Home for Little Wanderers, a nonprofit, then completed the development. “We are thrilled to have created a win for our partnership and for the City of Boston by creating middle-class housing in a community that has long needed it,” says Curtis Kemeny, CEO of Boston Residential Group. Olmsted Place features studios to three-bedroom units. The units range in size from 530 square feet to 1,300 square feet. The community was the first new residential project for several decades in a rapidly improving section of Jamaica Plain. Boston Residential Group is a residential developer with projects in Boston submarkets such as Back Bay, South Boston and the Charlestown Navy Yard. The Carlyle Group is a Washington, …
SPRINGFIELD, MASS. — HREC Capital Markets Group has arranged a $6.2 million senior loan for the refinancing of a La Quinta Inn & Suites, located at 100 Congress St. in Springfield. The hotel features 208 guestrooms. John Siska of HREC’s Boston office negotiated the loan for the borrower, a private owner-operator. A local community bank provided the financing.
BOSTON — Bell Partners has purchased Olmsted Place, an apartment community, located at 161 S. Huntington Ave. in the Jamaica Plain neighborhood of Boston, for an undisclosed price. Bell has renamed the 196-unit property Bell Olmsted Park, and Bell Partners will manage the community. Opened in late 2015, the property features a variety of studio, one-, two- and three-bedroom layouts, two elevated courtyards and surface and garage parking. The residences feature hardwood floors, granite countertops, stainless steel appliances and in-unit laundry facilities. On-site amenities include a resident lounge with bar and audio-visual equipment, a state-of-the-art fitness center, a heated pool and outdoor terraces. The name of the seller was not released.
CAMBRIDGE, MASS. — CBRE/New England has brokered the sale of two office buildings located at 125 and 150 Cambridgepark Drive in Cambridge. CBRE Global Investors sold the asset to a joint venture between Longfellow Real Estate Partners and an undisclosed investor for an undisclosed price. The institutional-quality buildings total 470,258 square feet of multi-tenant office space and include a recently constructed 456-space parking garage. Dave Pergola, Brian Doherty, Chuck Kavoogian and Adam Brinch of CBRE represented the seller and procured the buyer in the transaction.