Massachusetts

True North Capital Partners Acquires 207-Unit Apartment Community in Waltham, Massachusetts

by Amy Works October 26, 2016

WALTHAM, MASS. — An affiliate of True North Capital Partners has acquired Waltham Overlook, an apartment community located in Waltham, for an undisclosed sum. Built in 1979 and renovated in 2010, the community comprises nine three-story garden-style apartment buildings, a fitness center, outdoor pool, grill area and sun deck. The property features 207 apartment units in a mix of one- and two-bedroom layouts. Simon Butler and Biria St. John of CBRE/New England represented the undisclosed seller and procured the buyer in the deal.

October 26, 2016

Industrial Massachusetts Northeast

Sentry Commercial Arranges 127,091 SF Warehouse Lease in West Springfield, Massachusetts

by Amy Works October 25, 2016

WEST SPRINGFIELD, MASS. — Sentry Commercial has brokered the lease of an industrial facility located at 26 Sears Way in West Springfield. Global décor printing and impregnator company Suddekor LLC leased the 127,091-square-foot warehouse facility from Remeche LLC. Sentry Commercial represented the tenant, while the landlord was represented self-represented in the deal.

October 25, 2016

Industrial Loans Massachusetts Northeast

New York Life Real Estate Investors Originates $37M Acquisition Loan for Industrial Portfolio in Suburban Boston

by Amy Works October 19, 2016

FRANKLIN, PEABODY, WILMINGTON AND AVON, MASS. — New York Life Real Estate Investors, on behalf of institutional investors, has originated $37 million in acquisition financing for a four-building industrial portfolio located in the Greater Boston area. The five-year loan has a floating rate. The portfolio, which is 95 percent leased, comprises assets in Franklin, Peabody, Wilmington and Avon.

October 19, 2016

Massachusetts Northeast Retail

RK Centers Acquires Stop & Shop Ground Lease in Walpole, Massachusetts, for $6.3M

by Amy Works October 18, 2016

WALPOLE, MASS. — RK Centers has acquired a 12.5-acre ground lease of a Stop & Shop in Walpole for $6.3 million. Located at 565 Main St., the ground-lease property includes a freestanding 75,096-square-foot Stop & Shop grocery store. Constructed in 2002, the building also features an in-store Citizens Bank and the site has 398 parking spaces. Geoffrey Millerd and Justin Smith of NGKF Capital Markets represented the buyer in the deal. The name of the seller was not released.

October 18, 2016

Massachusetts Multifamily Northeast

Colliers Facilitates $9.7M Sale of Multifamily Property in Boston

by Amy Works October 11, 2016

BOSTON — Colliers International has arranged the sale of a multifamily property located at 256 Parker Hill Ave. in Boston’s Mission Hill neighborhood. Qianlong Management sold the property to Tremont Asset Management for $9.7 million, or $303,516 per unit. The 32-unit property comprises two garden-level apartment buildings offering a mix of studio and two-bedroom units and 16 surface parking spaces. Christopher Sower, Jen Price, Jonathan Bryant and Maggie Collins of Collins represented the seller. Additionally, Stephen Horan, also of Colliers, coordinated the acquisition financing through JP Morgan Chase on behalf of the buyer.

October 11, 2016

Industrial Massachusetts Northeast

DPS, TRIA to Design 200,000 SF Manufacturing Facility in Norwood, Massachusetts

by Amy Works October 10, 2016

NORWOOD, MASS. — DPS and TRIA have been selected by Moderna Therapeutics to provide architectural, engineering and project management services for a $110 million, 200,000-square-foot clinical manufacturing facility in Norwood. DPS will provide full architectural and engineering design for the facility, as well as construction management oversight, commissioning, qualification, and validation and procurement services. TRIA will design the facility’s clinical labs, offices, employee facilities and a conference center. Construction of the new facility is slated to begin in October, with completion scheduled for early 2018. Moderna Therapeutics is a clinical stage biotechnology company pioneering mRNA therapeutics to create a new generation of transformative medicines for patients.

October 10, 2016

Massachusetts Northeast Office

Transwestern Brokers $14M Sale of Three-Building Office Portfolio in Waltham, Massachusetts

by Amy Works October 6, 2016

WALTHAM, MASS. — Transwestern has arranged the sale of a three-building portfolio totaling 65,200 square feet of office, laboratory and research and development space in Waltham. Taurus Investment Holdings sold the portfolio to a joint venture between Parsada Ventures and KHS Management for $14 million. The buildings are located at 150 and 335 Bear Hill Road and 300 Second Ave. within the Bear Hill Business Park. Chris Skeffington and Roy Sandeman of Transwestern represented the seller and sourced the buyer in the transaction.

October 6, 2016

Massachusetts Northeast Office Retail

CBRE/NE Brokers Sale of 62,474 SF Office/Retail Building in Cambridge, Massachusetts

by Amy Works October 5, 2016

CAMBRIDGE, MASS. — CBRE/New England has arranged the sale of an office and retail building located at 1050 Massachusetts Ave. in Cambridge. Putnam Circle Associates sold the 62,474-square-foot property to L&B Realty Advisors for an undisclosed sum. The property is currently leased to several long-term office tenants, including Cambridge 7 Associates, the National Bureau of Economic Research and Northstar Project & Real Estate Services. Pyara Spa & Salon is currently the sole retail occupier in the first-floor retail space. Dave Pergola, Brian Doherty and Chuck Kavoogian of CBRE/NE represented the seller and procured the buyer in the transaction.

October 5, 2016

Massachusetts Northeast Office

Clarion Partners Acquires Two-Building Office/Life Science Complex in Cambridge for $311.2M

by Amy Works October 4, 2016

CAMBRIDGE, MASS. — Clarion Partners, on behalf of a commingled fund managed by the firm, has acquired a two-building office and life science complex, located at 245 First St. in Cambridge, for $311.2 million. Situated in the East Cambridge/Kendall Square submarket, the complex comprises a six-story, 134,175-square-foot life science facility and a nine-story, 170,714-square-foot office tower constructed above a parking garage. The two buildings are connected by a four-story glass atrium and on-site amenities include a common lobby with seating, an on-site café, structured parking, bike storage, lockers and a shower room. At the time of sale, the property was 96 percent leased to a variety of tenants focused on biotechnology and medical research. The name of the seller was not released.

October 4, 2016

Massachusetts Northeast Office Retail

Paradigm Properties, Alcion Ventures Sell Office/Retail Building in Boston

by Amy Works September 30, 2016

BOSTON — Paradigm Properties and Alcion Ventures have completed the sale of 101 Tremont, an office and retail building in downtown Boston. GLL Real Estate Partners acquired the property for an undisclosed price. Robert Griffin, Edward Maher and Matthew Pullen of NGKF Capital Markets represented the seller in the transaction. The 11-story building recently underwent extensive base building and tenant area improvements that transformed the asset into a mixed-use property. At the time of sale, the property was 100 percent leased to three innovative healthcare firms and a variety of on-site retailers, including Beantown Pub, Hollywood Nails, Silvertone and Ziggy’s Coffee Bar.

September 30, 2016

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