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.
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.
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.
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.
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.
BOSTON — Colliers International has negotiated the $41 million sale of an office property located at 148 State St. in Boston. Colliers also arranged $26.7 million in acquisition financing for property, which is the corporate headquarters of Public Consulting Group (PCG), a public sector management and technology consulting firm. Colliers marketed the property on behalf of the seller, an entity controlled by principals of PCG, and procured the buyer, a joint venture controlled by Harbor Trading USA. Totaling 64,500 square feet, 148 State St. is a Class B office asset anchored by PCG, which occupies 87 percent of the building on floors two through 11. The Ginger Man, a craft beer bar, occupies the remaining 9,000 square feet. Colliers International’s Doug Jacoby, Scott Dragos, Tony Hayes, Tim Mulhall and Dan Hines led the sales team. Colliers’ Jeff Black secured the 10-year, fixed-rate loan through Blue Hills Bank.
AGAWAM, MASS. — Colliers International has negotiated the $6.4 million sale of an industrial property in Agawam. MAG Acquisition Corp. has purchased 101 HP Almgren Dr., a 186,000-square-foot property that is 100 percent leased. Nicholas Morizio and Ian Hunt of Colliers’ Hartford, Conn., office represented the buyer in the transaction.
SUTTON, MASS. — Galaxy Development has purchased five acres for an addition to the Pleasant Valley Crossing Shopping Center in Sutton. The new parcel will accommodate a 5,500-square-foot restaurant and a multi-tenant, 19,000-square-foot retail plaza. MidPoint Engineering will submit plans for permits this spring and the developer expects to start construction in the fall, with store openings planned for summer 2018. Todd Lornell was the broker for the seller, Fuller Hamlets Soccer Club. Pleasant Valley Crossing is a grocery-anchored project with current tenants including Market 32 by Price Chopper, Five Guys, Verizon, Great Clips, Q-Nails, Pleasant Valley Dental and UniBank. Additional land for the project can accommodate up to 130,000 square feet of retail. When complete, the project will total 225,000 square feet of retail space plus a residential parcel that can accommodate multifamily or seniors housing.
EVERETT, MASS. — Natixis has provided a $38 million floating-rate loan on Wellington Parkside Apartments for Boston-based Taurus Investment Holdings. Proceeds from the loan will fund the acquisition and lease-up of the 190-unit, Class A multifamily property. Wellington Parkside Apartments is located in Everett, four miles north of the Boston central business district and one mile from the site of the Wynn Boston Harbor Casino. Taurus has retained Boston-based The Dolben Co. to handle leasing and management of the property. John Kelly of CBRE’s Boston office arranged the financing.
BOSTON & LYNN, MASS. — On behalf of Helge Capital, CBRE New England’s multifamily debt and structured finance team has secured a $56.3 million first mortgage loan to finance the recapitalization of a 19-building multifamily portfolio in metro Boston and Lynn, Mass. The assets consist of workforce housing of both market-rate and affordable apartments. CBRE’s John Kelly arranged the financing through a national lender on behalf of Helge Capital, a commercial real estate investment and operating company specializing in multifamily and development properties in the greater Boston area.