AUBURN, MASS. — Fantini & Gorga has arranged a $1.1 million loan for the refinancing of a multi-tenant office property located at 7 Midstate Road in Auburn. Situated on 1.4 acres, the 14,944-square-foot property is located at the entrance of the six-building, 141,000-square-foot Mid State Office Park. Derek Coulombe and Chris Miller of Fantini & Gorga represented the undisclosed borrower in the transaction.
BOSTON — CBRE/New England has secured a $28.1 million loan for the the construction of a luxury condominium development in South Boston. The borrower, CPC Cornerstone Development, is developing the 49-unit property that will feature a 6,000-square-foot restaurant space. Located at 14 W. Broadway, the building will feature large floor plans, garage parking for all units, top-of-the-line finishes, a roof deck, 24-hour concierge, valet garage parking and a fitness center. The property will also feature six affordable units per Boston Redevelopment Authority Inclusionary Development Policy. John Kelly and Sam Dylag of CBRE/NE arranged financing for the borrower. Additionally, CBRE arranged $8 million in equity on behalf of the sponsor.
CHELMSFORD, MASS. — Griffith Properties/Echo Bridge Partners has completed the disposition of an office building located at 5 Omni Way in Chelmsford. A private New York-based investment firm acquired the 131,430-square-foot asset for $32.5 million. The property recently underwent a $15 million redevelopment and renovation. The building will serve as a key regional call center and executive hub for Comcast with 24/7/365 operations and full call center backup redundancy. Robert Griffin, Edward Maher and Matthew Pullen of NGKF Capital Markets represented the seller in the transaction.
LOWELL, MASS. — Novaya Real Estate Ventures has secured two new leases totaling 32,627 square feet at 55 Technology Drive in Lowell. In the first transaction, Lowell General Hospital leased 24,116 square feet to house an expansion for the hospital administrative offices. In the second deal, Contract Logix LLC inked a lease for 8,516 square feet, which will be used for the company’s headquarters. The two-story office building is now 100 percent leased. Additional tenants include Boston Scientific, Borrego Solar and Lowell Five Center Savings Bank. Joel Kahn of Equity Alliance LLC represented Lowell General Hospital, Matt Adams of NGKF represented Contract Logix, and Mark Reardon of CBRE| New England represented Novaya in the transactions.
BURLINGTON, MASS. — Colliers International has arranged $45 million in refinancing for Third Avenue, a newly constructed Class A retail walking street in located off Middlesex Turnpike in Burlington. Colliers secured the 22.5-year loan, which features a fixed-rate, for Nordblom Co. through Sun Life Assurance Company of Canada, a correspondent life company lender. Jeff Black and Kevin Phelan of Colliers represented the borrower in the transaction.
DANVERS, MASS. — Marquis Health Services, a division of Tryko Partners, has completed a $2.6 million renovation of The Brentwood Rehabilitation and Healthcare Center, located at 56 Liberty St. in Danvers. Built in 1972, the 159-bed property was renovated to include a dedicated 32-bed sub-acute care unit and a new 2,300-square-foot therapy gym. The sub-acute care unit features a neurologist-led stroke recovery program and the gym offers rehabilitation therapy seven days per week with state-of-the-art equipment, including a smart car to train patients in automobile transfers. Additionally, the patient rooms were renovated to include a traditional suite with a full residential set-up including kitchen, living room, bedroom and bathroom. Marquis Health Services acquired the property in late 2013.
BOSTON — NorthMarq Capital has arranged $4.5 million in acquisition financing for an office property located at 44-46 Plympton St. in Boston’s South End. The transaction was structured with a 10-year term and a 30-year amortization schedule. The property features 28,600 square feet of office space. Ed Riskstins of NorthMarq Capital’s Boston regional office secured the financing for the undisclosed borrower through NorthMarq’s relationship with a national bank.
BOSTON — Collier International has arranged the renewal of a 152,000-square-foot lease at 100 Meadow St. in Boston for HD Supply. The industrial facility features 30-foot clear ceiling heights, an ESFR sprinkler system and numerous loading docks. The warehouse property was recently acquired by Newton, Mass.-based National Development. Austin Smith of Colliers lead the transaction.
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.
