REBusinessOnline

Wood Partners Completes 218-Unit Multifamily Project in Wayland, Massachusetts

WAYLAND, MASS. — Atlanta-based multifamily developer Wood Partners has completed Alta Oxbow, a 218-unit multifamily project in Wayland, a western suburb of Boston. Alta Oxbow offers one-, two- and three-bedroom units, with 66 apartments specifically tailored for residents age 55 and above. Select units also feature private balconies. Amenities include a pool, courtyards, fire pits and grilling stations, a hobby and craft lounge, library, fitness center, coworking spaces and a golf simulator. …

Lincoln Property Co. Receives Approval for 650,000 SF Life Sciences Project in Boston’s Seaport District

BOSTON — Dallas-based Lincoln Property Co. has received approval from The Boston Planning & Development Agency for the development of a 650,000-square-foot life sciences project in the city’s Seaport District. The facility, which will be known as Seaport Circle, will sit on 1.9 acres and will feature traditional lab and office space, as well as 5,000 square feet of retail space and a 15,000-square-foot training center. The development team expects that the project will create …

WinnCos. Completes $49.3M Renovation of Metro Boston Affordable Housing Property

PEABODY, MASS. — Local developer WinnCos. has completed the $49.3 million renovation of The Tannery, a 284-unit affordable housing community in Peabody, a northeastern suburb of Boston. WinnCos. acquired the historic property, which was originally built in the 1800s to house a leather tanning facility prior to its conversion to residential use, in 2019. Today, The Tannery features units that are reserved for households earning 30, 60 or 80 percent or less of the area median income (AMI). Bank …

3Step Sports Signs 64,000 SF Office Lease in Andover, Massachusetts

ANDOVER, MASS. — 3Step Sports, which provides services and support to youth athletics programs, has signed a 64,000-square-foot office lease at Brickstone Square in the northern Boston suburb of Andover. The 1 million-square-foot, four-building campus was originally constructed about 100 years ago and recently underwent an extensive capital improvement program. Blake Baldwin, Shayne O’Neil and Petra Flynn of Cushman & Wakefield represented the landlord, KS Partners, in the lease …

Vantage Builders Delivers 100,000 SF Cannabis Cultivation Facility in Metro Boston

WALTHAM, MASS. — General contractor Vantage Builders has delivered a 100,000-square-foot cannabis cultivation facility in the western Boston suburb of Waltham for wholesale provider Greencare Collective. The facility features vegetation rooms; six 9,500-square-foot grow rooms; cultivation process rooms for drying, trimming, curing and packaging; vault storage; and a commercial kitchen for the creation of cannabis edibles. The second floor has office space, and a 2,000-square-foot dispensary …

Arch Communities, WinnCos. Complete $25.7M Residential Adaptive Reuse Project in Southbridge, Massachusetts

SOUTHBRIDGE, MASS. — Arch Communities and developer WinnCos. have completed a $25.7 million residential adaptive reuse project in Southbridge, located in the southern central part of the state. The project converted the 90,000-square-foot former Mary E. Wells High School building into a 62-unit affordable housing complex for seniors age 55 and older. Of the 62 apartments, 56 are reserved for households earning 60 percent or less of the area median income (AMI), including eight apartments …

SGPS ShowRig Signs 49,524 SF Industrial Lease in Shrewsbury, Massachusetts

SHREWSBURY, MASS. — SGPS Showrig, a provider of entertainment equipment, has signed a 49,524-square-foot industrial lease in Shrewsbury, located outside of Worcester in the central part of the state. The space is located within Centech Park North, a 310,000 square-foot campus that is set to be delivered at the end of the year. Kevin Brawley, Stephen Woelfel, P.J. Foster, Kevin Hanna, Ovar Osvold and Wayne Spiegel of Colliers represented the landlord, Northbridge Partners, in the lease …

Hudson’s Bay, Streetworks to Undertake Three Life Sciences Conversion Projects in Metro Boston

BURLINGTON, NATICK AND BRAINTREE, MASS. — Hudson Bay Co., a holding and investment firm focused on retail properties, and its affiliate Streetworks Development will undertake a trio of life sciences conversion projects throughout the Boston area. Specifically, the development team plans to convert a portfolio of three 120,000-square-foot retail properties located in Burlington, Natick and Braintree into facilities that will house both traditional office and lab/research and development space. …

Invesco Real Estate Buys 422,117 SF Life Sciences Facility in Dedham, Massachusetts

DEDHAM, MASS. — Global investment management firm Invesco Real Estate has purchased a 422,117-square-foot life sciences facility in Dedham, a southern suburb of Boston. The single-story building sits on 53 acres and was fully leased at the time of sale to tenants such as General Dynamics and the American Red Cross. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the seller, a partnership between locally based investment firm RJ Kelly Co. and …

American Tower Sells Minority Stake in Data Center Portfolio to Stonepeak for $2.5B

BOSTON AND NEW YORK CITY — American Tower Corp. (NYSE: AMT), a multitenant communications REIT, has agreed to sell a 29 percent stake in its data center platform to Stonepeak, an alternative asset management firm based in New York City. The deal, which comprises common and preferred equity from Stonepeak’s affiliated investment vehicles and debt commitments, is valued at $2.5 billion. The AMT data center portfolio consists of 27 data centers in 10 U.S. markets. AMT purchased Denver-based …

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