NORWOOD, MASS. — Benchmark Senior Living has opened Benchmark Senior Living on Clapboardtree, a 90-unit assisted living and memory care community in the Boston suburb of Norwood. The community features 69 assisted living units and 21 memory care units. It is Benchmark’s 53rd community. Based in nearby Waltham, Benchmark is a developer, owner and operator of seniors housing communities in the Northeast, largely focused on New England.
REVERE, MASS. — Nauset Construction has completed the second phase of renovations to the Lighthouse Nursing Care Center in the Boston suburb of Revere. Genesis HealthCare operates the community, which Donahue Architects designed. Phase II included the installation of rooftop mechanical units, new fire protection systems, lighting and finishes throughout the entire third floor. Site work included parking lot and sidewalk reconstruction including handicap accessibility enhancements. Phase I, which The Architectural Team designed, included construction of a three-story, 17,000-square-foot addition and the renovation of an additional 10,000 square feet of existing space, providing the facility with 12 short-term rehabilitation beds; suites for physical, occupational and speech therapy; medical offices; clinical space; and a 2,700-square-foot rehabilitation gymnasium.
READVILLE, MASS. — CBRE/New England has arranged $11 million in acquisition and capital improvement financing for Boston Business Park – Building 200, a 205,061-square-foot industrial building located at 100 Meadow Road in Readville. John Kelly, Kyle Juszczyszyn, Chris Coutts and Lenny Pierce of CBRE/NE secured the financing for the borrower, a joint venture between Wallace Property and GFI Partners. Boston Business Park is the future home to M.S. Walker, ABEX Transportation and Katsiroubas Bros. Current tenants include HD Supply, The Ride, Gentle Giant Moving and MFI Tire Wholesale.
LITTLETON, MASS. — SVN|Parsons Commercial Group|Boston has brokered the sale of a high-tech office building located at 305 Foster St. in Littleton. Foster Street Acquisitions sold the building to 2641-2651 Santa Anna Avenue LLC for $4.4 million. Situated on 10.3 acres, the building offers 80,064 square feet of office space for high-tech and R&D tenants. At the time of sale, the property was more than 80 percent occupied. Marci Alvarado, Jake Parsons and Marilyn Santiago of SVN|Parsons represented the seller in the transaction.
WALTHAM, MASS. — Colliers International Boston has arranged the $9 million sale of a two-building office and flex portfolio on behalf of Schernecker Property Services. Boston-based btcRE acquired the portfolio, which includes a 40,000-square-foot office and warehouse building at 179 Bear Hill Road and an 18,000-square-foot flex building at 283 Second Ave. in Waltham. MSPCA, a local non-profit that protects animals, fully occupies the property on Second Avenue. Doug Jacoby, Scott Dragos, Tony Hayes, Tim Mulhall and Dan Hines of Colliers represented the seller in the transaction. Additionally, Tom Welsh, Adam Coppola and John Poole, also of Colliers, arranged $9 million in acquisition and bridge financing for a Massachusetts-based loan fund on behalf of the buyer.
WATERTOWN, MASS. — The Watertown Planning Board unanimously approved the development of Arsenal Yards, a mixed-use project at the former Arsenal Mall in Watertown. Developers Boylston Properties and The Wilder Cos. plan to add a mixed-use project featuring 350,000 square feet of retail and entertainment space and 500 residences to the existing 100,000 square feet of office space. Construction is slated to begin in six to eight months. The project will feature chef-driven restaurants, a specialty grocery, a wine superstore, a cinema, market-rate and affordable apartments, and a combination of boutiques and national retailers.
BOSTON — Tokyo-based Mori Trust Co. Ltd. has acquired 10 St. James and 75 Arlington, a two-building office property totaling 824,772 square feet in Boston’s Back Bay neighborhood, for $673 million. The LEED Silver-certified portfolio features an enclosed-glass galleria joining the lobbies of both buildings, on-site dining and a 400-space underground parking garage. The property was acquired from Liberty Mutual Insurance, and is home to the company’s Boston headquarters. Liberty Mutual has already moved many of its workers from the two connected buildings to a $300 million tower built at 157 Berkeley St. in 2013, according to reports by The Boston Globe. The company plans to continue to lease space at 10 St. James and 75 Arlington. Robert Griffin, Edward Maher, Matthew Pullen, Alex Foshay, William Anderson and David Martel of NGKF Capital Markets represented the seller in the transaction. John Butterworth, Tim Howe and Andrea DeSimone of CBRE’s New England office are in charge of leasing for the property. An agreement to continue their services has yet to be announced. Mori Trust Co. established its U.S. subsidiary, Mori America LLC, in November 2016. This acquisition is Mori Trust’s first in the United States. Mori Trust is a developer, owner and manager …
LOWELL, MASS. — Colliers International Boston has arranged $19.7 million in financing for Calare Properties’ acquisition of MACOM Technology Solutions Inc.’s 150,000-square-foot headquarters, located in Lowell. The seller, MACOM Technology Solutions, has leased back the property for a 20-year term. Proceeds of the financing will be used to purchase the manufacturing facility at 100-144 Chelmsford St., as well as construct a connected 58,000-square-foot office addition to serve MACOM’s expanded headquarters. The financing consists of a first mortgage acquisition and construction loan from Boston Private Bank and Rockland Trust as well as subordinate debt from a community loan fund. Tom Welch, Adam Coppola and John Poole of Colliers secured the financing.
BOSTON — UMNV 346 Newbury LLC, a joint venture between UrbanMeritage and Novaya Real Estate Ventures, has purchased a retail property located at 346 Newbury in Boston. Studio Realty Trust sold the property for $13.1 million. Patagonia occupies the two-story 7,000-square-foot property. Michael Carucci of Gibson Sotheby’s International Realty represented the seller and identified the buyer in the deal.
CONCORD, MASS. — Normandy Real Estate Partners has completed the sale of 300 Baker Avenue, an office building located in Concord. Novaya Real Estate Ventures acquired the property for $63.5 million. The 413,415-square-foot office building recently underwent significant renovations, including an updated lobby, common area, amenity and building system upgrades. Amenities at the building include a full-service cafeteria, fitness center, conference center and basketball and volleyball courts. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of NGKF Capital Markets represented the seller in the deal. Additionally, David Douvadjian and Brian Butler of Newmark Grubb Knight Frank arranged acquisition financing for the buyer.
