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Massachusetts

MassachusettsNortheastOffice

SVN | Parsons Arranges Sale of Office Building in Ashland, Massachusetts

by Haisten Willis

ASHLAND, MASS. — SVN | Parsons Commercial Group | BOSTON has arranged the sale of a 5,728-square-foot office building at 54-58 Union St. in Ashland. Victor Galvani and Garrett Quinn of SVN | Parsons represented the seller, Euroland Real Estate, and procured the buyer, Martel HVAC Corp. Martel, a heating and cooling solutions company, will move its corporate headquarters from Holliston to the property. Eurobrew Inc., a specialty beer importer, formerly owned and occupied the building. The property consists of office space, basement storage and a parking lot.

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MassachusettsNortheastRetail

Liquors 44 to Open 24,000 SF Location in Springfield, Massachusetts

by Haisten Willis

SPRINGFIELD, MASS. — Liquors 44 is opening its sixth location in western Massachusetts at 1755 Boston Road in Springfield. The company is a locally owned and operated liquor superstore founded in 1987. Matt Halprin of New England Retail Properties was the exclusive broker for the new 24,000-square-foot store on Boston Road.

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LoansMassachusettsNortheastOffice

Capital One Provides $60M Acquisition Loan for Historic Boston Seaport District Property

by Haisten Willis

BOSTON — Capital One has provided a $60 million leasehold mortgage to The Davis Cos. (TDC) for the acquisition of 88 Black Falcon Ave., a pair of office/industrial buildings totaling 376,000 square feet in Boston’s Seaport District. TDC plans to make improvements including upgrades to the building’s common areas, bathrooms, elevator lobbies, entrances and restaurant/café, as well as the addition of a fitness center. Lisa Greeley of Capital One’s Boston office originated the transaction. The property is 94 percent leased, with 17 office tenants and 18 industrial tenants.

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LoansMassachusettsMultifamilyNortheast

Fantini & Gorga Secures $25.5M Loan for Cambridge Apartments in Cambridge, Mass.

by Haisten Willis

CAMBRIDGE, MASS. — Fantini & Gorga has secured a $25.5 million first mortgage for a 61-unit multifamily property with ground-floor retail and underground parking. The property is located at 603 Concord Ave. in the Fresh Pond/Alewife neighborhood of Cambridge. Derek Coulombe, Tim O’Donnell and Despina Hixon of Fantini & Gorga arranged the financing. The six-story property is comprised of a mix of studios, one- and two-bedroom units. It is 100 percent leased including 5,511 square feet of retail space. Retail tenants include an orthodontist, an eye clinic and an urgent care center.

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MassachusettsNortheastOffice

Transwestern Brokers $14M Sale of Office Property in Norwood, Mass.

by Haisten Willis

NORWOOD, MASS. — Transwestern Consulting Group (TCG) has brokered the $14 million sale of Norwood Business Center, an office property located at 1400 Providence Highway in Norwood. Calare Properties, a Massachusetts-based real estate investment firm and operator, was the seller. Jumbo Capital Management purchased the three-building portfolio, which totals 155,975 square feet of office, flex and research and development space. TCG’s Chris Skeffington and Roy Sandeman represented the seller and sourced the buyer, while Transwestern’s Andrew Stone assisted Jumbo Capital Management in arranging the financing for the purchase with Middlesex Savings Bank.

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IndustrialMassachusettsNortheast

SVN Parsons Negotiates 13,904 SF Industrial Lease in Franklin, Mass.

by Haisten Willis

FRANKLIN, MASS — Garrett Quinn of SVN Parsons Commercial Group Boston has negotiated a 13,904-square-foot industrial lease in Franklin. Quinn represented the tenant, MGB USA, in the lease at 157 Grove St., a 76,268-square-foot flex building located near I-495. McKenna Teague of Transwestern RBJ represented the landlord, GRE Grove Street Two LLC. MGB USA is moving from its current facility located at 121 Flanders Road in Westborough. The company manufactures precision electrical components used in applications including aerospace, defense, medical, telecommunications, and automotive hybrid and electrical instrumentation.

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IndustrialMassachusettsNortheast

Northeast Private Client Group Arranges $3M Sale of Industrial Property in Brighton, Mass.

by Haisten Willis

BRIGHTON, MASS. — Northeast Private Client Group has arranged the $3 million sale of a 6,000-square-foot mixed-use property located at 270 Parsons St. in Brighton. Drew Kirkland and Francis Saenz of Northeast Private Client Group represented the seller and procured the buyer in the transaction. The property is a 100 percent-leased, multi-tenant industrial building near the Massachusetts Turnpike. Eastern Equity Partners was the seller and City Realty Group was the buyer.

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LoansMassachusettsNortheastRetail

Fantini & Gorga Arranges $2.5M Refinancing Loan for Retail Center in Brookline, Mass.

by Haisten Willis

BROOKLINE, MASS. — Fantini & Gorga has arranged $2.5 million in first mortgage financing for a 7,700-square-foot retail center located at 1427-1431 and 1441 Beacon St. in Brookline. A former Massachusetts resident who has relocated to California was the borrower. The retail property is 100 percent occupied and anchored by East Boston Savings Bank. Fantini & Gorga’s Derek Coulombe and Chris Miller arranged the refinancing on behalf of the borrower. The loan was placed with a Massachusetts-based financial institution.

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MassachusettsNortheastOffice

Groundbreaking Ceremony Planned for GE Innovation Point Office Project in Boston

by Haisten Willis

BOSTON — GE will host a groundbreaking ceremony for its future campus, GE Innovation Point, at 15 Necco St. in Boston on May 8. When complete, the project will be home to 800 GE employees. GE Chairman and CEO Jeff Immelt will be on hand, along with Massachusetts Governor Charlie Baker and Boston Mayor Marty Walsh. Innovation Point will open in two phases in 2018.

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MassachusettsMultifamilyNortheast

WinnDevelopment to Build 140-Unit Multifamily Community in Metro Boston

by Haisten Willis

QUINCY, MASS. — WinnDevelopment and nonprofit partner NeighborWorks Southern Mass are moving forward with plans to build a $44 million, 140-unit apartment community in Quincy. Known as The Watson on Howard, the project will be located on 1.7 acres and will feature the largest number of workforce units ever financed under MassHousing’s Workforce Housing Initiative, according to a release from WinnDevelopment. Amenities will include a gym, community room and courtyard.

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