Massachusetts

Capstone, Provident Secure Financing for Development of $139M On-Campus Community at UMass Boston

by Amy Works November 29, 2016

BOSTON — Capstone Development Partners and Provident Commonwealth Education Resources Inc. have closed on the financing for a $139 million student housing and dining community to be constructed on the University of Massachusetts Boston campus. The development will be the first on-campus student housing at the university. The two-building, 250,000-square-foot community is set to feature 1,077 beds targeted for primarily first-year students and an approximately 23,000-square-foot dining facility. The property will also include living-learning amenities such as seminar rooms, study lounges and other social and academic amenities to support student success and enhance the quality of campus life. Structured as a public-private partnership project, the development is being financed by tax-exempt revenue bonds issued by the Massachusetts Development Authority and underwritten by Citigroup. Provident Commonwealth Education Resources will own the housing and dining space, subject to a ground lease from the institution. UMass Boston and Capstone On-Campus Management will manage the housing. The design-build team for the project includes Elkus Manfredi Architects and Shawmut Design and Construction. Construction is slated to begin within the coming weeks, with completion scheduled for fall 2018.

November 29, 2016

Massachusetts Mixed-Use Multifamily Northeast Office Restaurant Retail Seniors Housing

Capital Group Properties Secures Anchor for Mixed-Use Development in Maynard, Massachusetts

by Amy Works November 29, 2016

MAYNARD, MASS. — Colliers International, on behalf of developer Capital Group Properties, has secured a grocery anchor for the planned 293,500-square-foot Maynard Crossing property in Maynard. Market 32 by Price Chopper has signed a lease for 68,000 square feet of space at the mixed-use project, which is slated to break ground in the second quarter of 2017 with completion scheduled for summer 2018. Upon completion, the project will feature two full-service and two fast-casual restaurants, a 20,000-square-foot health club, a community bank, hardware store, apparel stores, and medical care center, as well as 180 residential rental units and a 143-unit independent senior living facility. Colliers International Boston is the leasing team for the development.

November 29, 2016

Industrial Massachusetts Northeast Office

R.W. Holmes Realty Facilitates $1.9M Sale of Office, Warehouse Property in Bellingham, Massachusetts

by Amy Works November 29, 2016

BELLINGHAM, MASS. — R.W. Holmes Realty has arranged the sale of an office and warehouse building located at 24 Williams Way in Bellingham. Gainsboro Brothers LLC sold the property to Matt Clark of TMC Holdings & Development for $1.9 million. Situated on three acres, the building features 34,700 square feet of office and warehouse space. The buyer plans to renovate the property and site for multi-tenant use. John Eysenback of R.W. Holmes represented the seller and buyer in the deal.

November 29, 2016

Industrial Massachusetts Northeast Office

Investcorp Acquires Two Industrial, Office Assets in Metro Boston Totaling 976,038 SF

by Amy Works November 23, 2016

BOSTON AND CAMBRIDGE, MASS. — Investcorp has expanded its U.S. real estate portfolio with $250 million in acquisitions in Boston and Denver. The five investments include 20 buildings totaling 1.8 million square feet of office, industrial, flex and laboratory space. The company’s Boston acquisitions include the four-building Boston Metro Industrial, a 900,000-square-foot development in Boston that is 95 percent leased, and Blackstone Science Square, a 99 percent-leased, 76,038-square-foot office and laboratory property in Cambridge.

November 23, 2016

Massachusetts Northeast Office

Campanelli, TriGate Capital Sell Two Office Buildings in Quincy, Massachusetts

by Amy Works November 21, 2016

QUINCY, MASS. — Campanelli, in partnership with TriGate Capital, has sold Heritage One and Heritage Two, two office buildings located in Quincy. Foxrock Properties has purchased Heritage One, a 173,000-square-foot office building, while Grander Capital Partners has acquired Heritage Two, a 183,000-square-foot office building. State Street Corp. occupies more than 50 percent of Heritage One, while Heritage Two is 93 percent occupied by a variety of tenants, including Massachusetts Teachers Association, Healthcare Financial, G-Force Shipping, Pharmalogics Recruiting and Stran Promotional Services. Robert Griffin, Edward Maher, Matthew Pullen, Judy Ravech, Samantha Hallowell, Michael Frisoli and David Douvadjian of Newmark Grubb Knight Frank represented the seller in the deal. The acquisition prices were not disclosed.

November 21, 2016

Massachusetts Northeast Office

Spear Street Capital Sells 153,000 SF Office Building in Andover, Massachusetts, for $37M

by Amy Works November 15, 2016

ANDOVER, MASS. — Spear Street Capital has completed the disposition of an office building located at 400 Minuteman Road in Andover. Carter Validus Mission Critical REIT II acquired the property for $37 million. The 153,000-square-foot building is fully occupied by Time Warner Cable and The Weather Company. The building is part of the seven-building Minuteman Park, a 1 million-square-foot Class A office campus. Campus amenities include two full-service cafeterias, a coffee bar, two fitness centers and a game room/lounge. Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell and Torin Taylor of Newmark Grubb Knight Frank represented the seller in the deal.

November 15, 2016

Industrial Loans Massachusetts Northeast

CBRE/NE Assists NorthBridge Partners in Financing Industrial Facility in Norton, Massachusetts

by Amy Works November 15, 2016

NORTON, MASS. — On behalf of NorthBridge Partners, CBRE/New England’s Debt & Structured Finance team has arranged $19 million in acquisition financing for a warehouse and distribution facility located at 192 Mansfield Ave. in Norton. The 347,000-square-foot property is fully leased to Advance Auto Parts Inc. Kyle Juszczyszyn, Chris Coutts and Lenny Pierce of CBRE/NE secured the financing for the borrower.

November 15, 2016

Hospitality Massachusetts Mixed-Use Multifamily Northeast Retail

Related Beal Tops Off Parcel 1B in Downtown Boston

by Amy Works November 14, 2016

BOSTON — Related Beal has topped off Parcel 1B, a residential, retail and hospitality development in downtown Boston. Designed by CBT Architects, the 484,000-square-foot property will feature 239 affordable and workforce apartment units, 10,000 square feet of street-level retail space, 220 parking spaces and a Courtyard by Marriott. Operated by Turnberry Associates, the 220-room hotel will feature 2,500 square feet of meeting space. Situated within Boston’s Bulfinch Triangle, the property is located in close proximity to public transportation.

November 14, 2016

Massachusetts Northeast Office

Alexandria Real Estate Equities Closes $725M Acquisition of One Kendall Square in Cambridge

by Amy Works November 11, 2016

CAMBRIDGE, MASS. — Alexandria Real Estate Equities has closed its acquisition of One Kendall Square in Cambridge. The company acquired the office and lab space property for $725 million from an undisclosed seller. The campus includes seven buildings with a total of almost 645,000 square feet of rentable office, lab and retail space.

November 11, 2016

Massachusetts Multifamily Northeast

CBRE/NE Brokers $29M Sale of Apartment Community in Boston

by Amy Works November 9, 2016

BOSTON — CBRE/New England has arranged the sale of Rockingham Glen, an affordable apartment community located in Boston’s West Roxbury neighborhood. Beacon Communities acquired the 143-unit property for an undisclosed sum. Built in 1974, the community features one studio apartment, 94 one-bedroom units and 48 two-bedroom units, with an average size of 786 square feet. Simon Butler and Biria St. John of CBRE/NE represented the seller and procured the buyer in the deal.

November 9, 2016

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