HADLEY, MASS. — Waterbury, Conn.-based R. Calabrese Agency has arranged the acquisition of a net ground lease for a restaurant building located on Route 9 in Hadley. NF LLC acquired the property from an undisclosed seller for $2.4 million. Situated on two acres, the 7,160-square-foot building is net-leased to Texas Roadhouse. Tony Valenti and Ralph Calabrese of R. Calabrese Agency represented the buyer in the in transaction.
BOSTON — Boston-based Sperry Van Ness International Corp. (SVNIC) has opened its first office location in Mexico City, Mexico. Operating under the name Sperry Van Ness Mexico City, the new office will built on the company’s business model of compensated cooperation, and will bring cutting-edge real estate platforms to Mexico’s industrial professionals. Xavier Pumarejo is serving as president and general director at the new location. This is the third international market expansion for SVNIC, which has opened offices in Russia and Canada.
MAYNARD, MASS. — Mesa West Capital has provided Artemis Saracen Investments, a joint venture between Saracen Properties and Artemis Real Estate Partners, with $40.8 million in first mortgage financing to reposition a 1 million-square-foot office campus in Maynard. Loan proceeds will be used to implement an extensive capital improvement and leasing plan that will reposition the property to appeal to a wide variety of users. Formerly known as Clock Tower Place, the newly rebranded Mill & Main is a mixed-use development located 25 miles west of Boston. Planned improvements to the property include updated building systems, pedestrian plazas, a waterfront boardwalk, fitness facilities, boutique retail and gallery venues. Situated on 50 acres, the property includes 12 vintage brick-and-beam-style buildings overlooking a 14-acre mill pond. Constructed in 1847, the site originally served as a woolen mill until 1950 when it was converted to an office park. The property is currently 37 percent leased, including a recently signed lease with Stratus Technologies for 102,000 square feet, which is slated to open this spring. Jay Marshall of HFF arranged the financing.
BILLERICA, MASS. — Select Stone has acquired an industrial building located at 7 Esquire Road in Billerica. C.A. Realty Corp. sold the facility for $1.7 million. The 25,000-square-foot property features 18-foot clear heights. James Stubblebine and David Stubblebine of The Stubblebine Company/CORFAC International represented the buyer and seller in the deal.
HANOVER, MASS. — The Stubblebine Company has arranged the sale of an industrial property located at 285 Circuit St. in Hanover. Beech Street Enterprises sold the multi-tenant building to an undisclosed buyer for $3.6 million. The single-story, 76,000-square-foot facility features 20-foot clear heights, no columns and a diverse tenant mix. David Stubblebine and James Stubblebine of The Stubblebine Company/CORFAC International represented the seller and procured the buyer in the deal.
FRANKLIN, MASS. — Faris Lee Investments has brokered the sale of Franklin Shops, a newly developed retail property located at 648 Old W. Central St. in Franklin. A private investor acquired the property from a private developer for $6.6 million. Starbucks Coffee, Noodles Co. and MedPost Urgent Care occupy the 8,911-square-foot property, which was completed in 2015. All three tenants have new, 10-year net leases in place. Matthew Mousavi and Patrick Luthre of Faris Lee Investments represented the seller in the transaction.
NEWTON, MASS. — R.W. Holmes Realty has brokered the sale of an office/manufacturing building located at 55 Border St. in Newton. Border Realty Trust sold the property to Quarter Realty Trust for $2.7 million. The 18,000-square-foot building features a tailboard dock, a drive-in door and heavy power. Garry Holmes of R.W. Holmes Realty represented the seller, while Dean Blackey, also of R.W. Holmes Realty, represented the buyer in the transaction.
DEDHAM, MASS. — R.W. Holmes Realty has arranged the sale of a medical office building, located at 910 Washington St. in Dedham. Vision Realty Dedham LLC sold the two-story building to Dedham MOB LLC an entity controlled by Whelan Associates, for $6.4 million. Built in 2012, the 22,388-square-foot building is located off Route 128 within walking distance of Legacy Place and the commuter rail. The main tenant of the building is Greater Boston Urology. Garry Holmes and Dean Blackey of R.W. Holmes Realty represented the seller in the transaction.
BEDFORD, MASS. — Integrated Builders has completed the exterior renovation of a 51,502-square-foot flex office building, located at 205 Burlington Road in Bedford, on behalf of Calare Properties. The renovation plan included enhancements to the existing façade through the demolition and reconstruction of two exterior canopies and renovation of the two current entryways. Additionally, Integrated replaced walkways, repainted doors and window frames and installed exterior insulation and finishing systems (EIFS) to provide an insulated, water-resistant, finished surface in an integrated composite material system. Architectural design firm ci design inc. provided architectural services for the project.
WELLESLEY AND NEEDHAM, MASS. — CBRE/New England has arranged the sale of Phillips Park, an age-restricted apartment community in Wellesley and Webster Green, an apartment community in Needham. TrueNorth Capital Partners acquired Phillips Park for $15 million and Webster Green for $25.5 million. Built in 1894 and rehabilitated in 1988, the 49-unit Phillips Park features six one-bedroom units and 43 two-bedroom units, which are restricted to households 55 years of age or older. Built in 1985, the 76-unit Webster Green features two one-bedroom units and 74 two-bedroom units. CBRE/NE represented the undisclosed seller and procured the buyer in the transaction.