BOSTON — Boston-based CBRE/Grossman Retail Advisors and CBRE/New England are merging operations. CBRE/Grossman was formed in 2009 to create a premier retail service provider for its clients and combined the network and resources of the largest commercial real estate service company in the country with the focus of local knowledge and expertise. Jeremy Grossman will continue to lead the urban and agency side of retail pursuits and Kevin Higgins will continue to lead national and tenant representation pursuits.
WEST CONCORD, MASS. — Oaktree FX, a partnership between Oaktree Development and FX Investments, has opened Brookside Square, a transit-oriented, mixed-use development in West Concord. The $32 million property features 74 luxury apartments and 36,000 square feet of commercial and office space within a short walking distance to the West Concord Commuter Rail Station. The property features a mix of studio, one- and two-bedroom units priced from $1,755 to $3,265. On-site amenities include an underground parking garage, community room with gas fireplace and WiFi access, fitness center and a community deck overlooking Nashoba Brook. The property is managed by WinnResidential.
NEW BEDFORD, MASS. — Fantini & Gorga has arranged $13.5 million in permanent financing for Riverbank Lofts, a former mill that was converted to an apartment property in New Bedford. Situated on 6.5 acres, the three-story property features 126 units in a mix of one-, two- and three-bedroom layouts, a 160-vehicle garage, a fitness center and a common room. The units feature high ceilings, exposed wide plank hardwood floors and stainless steel appliances. Derek Coulombe and Jason Cunnane of Fantini & Gorga secured the financing for the undisclosed borrower.
CAMBRIDGE, MASS. — bluebird bio Inc. has signed a 10-year lease with Alexandria Real Estate Equities Inc. to occupy a 253,000-square-foot, build-to-suit property at 60 Binney St. at Alexandria Center at Kendall Square campus in Cambridge. The lease is for the entire 60 Binney Street building except for a ground-floor retail suite. The project is on track to be delivered in late 2016. bluebird bio, a clinical-stage biotechnology company, plans to relocate its headquarters to the new facility, which will also expand its presence in Cambridge. The Alexandria Center at Kendall Square is a fully integrated urban campus featuring 2.3 million rentable square feet of state-of-the-art office/laboratory space and high-quality amenities, including retail and restaurant facilities, a 33,000-square-foot Cambridge Athletic Club and two acres of open space.
QUINCY, MASS. — CBRE/New England’s Multifamily Debt & Structured Finance group has arranged $14 million in construction financing for Liberty Place in Quincy. BP Liberty LLC, an affiliate of Boston Property Development, is developing a 53-unit apartment community, which has already broken ground. Located at 999 Hancock St., the property will feature 67 garage parking spaces, a fitness center, a 2,000-square-foot roof deck, a private function room and a patio/barbecue area overlooking a lawn and dog park. The residential units will feature stainless steel appliances, hardwood flooring, granite countertops, private balconies, in-unit washers and dryers, and oversized windows. John Kelly and Sam Dylan of CBRE/NE procured the financing for the borrower.
GREENFIELD, MASS. — Integrated Builders has topped off the new Greenfield Toyota and Ford joint car dealership in Greenfield. Located at 1 Main St., the 32,000-square-foot facility will replace the previous dealership located on the site. The facility will offer a combined 30,000 square feet of dealership space and a 2,000-square-foot system parts mezzanine area. The new facility is slated for completion in November 2016. Integrated Builders is providing construction management services for the project. The project team includes The Curtis Architectural Group, SVE Associates, Flood Consulting and Environmental Design Engineering Inc.
CHARLESTOWN, MASS. — Colliers International has arranged the sale of and secured financing for Bunker Hill Business Center in Charlestown. Located at 440 Rutherford Ave., the fully leased property offers 52,944 square feet of flex office space. TD Street LLC, an affiliate of Center Court Partners LLC, acquired the property for $14.7 million from New Canaan, Conn.-based Cambridge Hanover Inc. Colliers secured a $10.5 million fixed-rate acquisition loan for the buyer through LStar Capital Finance Inc., the credit affiliate of Lone Star Funds. Scott Dragos, Doug Jacoby, Tony Hayes and Tim Mulhall of Colliers represented the seller in the transaction. Kevin Phelan and Jeff Black led the Colliers debt placement team.
WALTHAM, MASS. — Holliday Fenoglio Fowler (HFF) has secured $74.2 million in first mortgage financing for a lab/biotech facility located at 830 Winter St. in Waltham, a western suburb of Boston. HFF arranged the floating-rate loan with Wells Fargo while working on behalf of the borrower, a joint venture between King Street Properties and an affiliate of Carlyle Realty Partners VII. Completed in 2001, the 182,104-square-foot facility is fully leased to ImmunoGen, GlaxoSmithKline and Histogenics Corp. Greg LaBine of HFF represented the borrower in the financing transaction.
MIDDLEBOROUGH, MASS. — Calare Properties has acquired three industrial properties located within the Campanelli Business Park in Middleborough for $25.3 million from Campanelli. Totaling 273,000 square feet, the portfolio includes 16 Leona Drive, 19 Leona Drive and 139 Campanelli Drive. The 80,000-square-foot property at 16 Leona Drive features 21-foot clear heights and is 100 percent leased to IDEX Health & Science. The 108,000-square-foot facility at 19 Leona Drive is fully occupied by Sager Electronics, a subsidiary of TTI Inc., a Berkshire Hathaway Inc. company. Finally, the 85,000-square-foot property at 139 Campanelli Drive is 100 percent leased to Stop & Shop Supermarket.
BURLINGTON, MASS. — The Gutierrez Company has completed the disposition of the second phase of an office and R&D facility in Burlington. Cole Offices & Industrial REIT (CCIT II) Inc. acquired the property for $119.8 million. The 280,560-square-foot office facility is currently leased to Keurig Green Mountain Inc. and features an 875-space parking structure. The first phase of the property, which was not included in the transaction, features 150,700 square feet of office/R&D space. Robert Griffin, Matt Pullen and Michael Frisoli of Cushman & Wakefield represented the seller, while VEREIT Inc. represented the buyer in the transaction.