SPRINGFIELD, MASS. — China Railway Rolling Stock Corp. has broken ground on its 200,000-square-foot facility in Springfield. Situated on 40 acres, the $60 million facility will be used to manufacture 284 subway cars for the Massachusetts Bay Transportation Authority (MBTA). MBTA awarded the China-based company a $566 million contract to supply care for Boston’s Red and Orange subway. The company purchased the former Westinghouse-owned land for $12 million. China Railway Rolling Stock Corp. was recently formed through a merger between China North Locomotive and Rolling Stock Industry Corp. and the China South Locomotive and Rolling Stock Corp. The company plans to begin production next year and deliver its first cars in 2018.
BOSTON — Localytics, a lifecycle engagement platform for web and mobile applications, has leased 55,000 square feet of office space at Center Plaza in Boston. The company will move into the space in March 2016, relocating from 101 Arch St. in Boston. Center Plaza is a 717,128-square-foot mixed-use complex featuring a 900-foot retail promenade along Cambridge Street, a 575-car parking garage and access to public transit, including the Red, Green and Blue lines. The property will soon undergo a capital improvement program, including new office amenities such as a bike room, conference center and renovations to the street-level interior lobbies, exterior walkway/breezeway areas and rooftop. Boston-based CBT Architects is providing architectural services for the enhancement program. Andy Hoar, John Butterworth, Kevin Kennedy and Suzanne Brown of CBRE/New England represented the landlord, Shorenstein Properties, while Greg Hoffmeister and Jon Frisch of T3 Advisors represented the tenant in the transaction. has a capital improvement program
LOWELL, MASS. — Fantini & Gorga has arranged $2.7 million in permanent financing for Embassy House Apartments in Lowell. The three-building property features 36 one- and two-bedroom market-rate apartments. Originally built in the early 1960s, the property underwent an extensive exterior/interior and building systems upgrade in 2003. Derek Coulombe, Tim O’Donnell and Jason Cunnane of Fantini & Gorga arranged the financing for the undisclosed borrower.
SHREWSBURY, MASS. — CS Holdings LLC has acquired an office/retail building located at 307 Grafton St. in Shrewsbury. Kalamat LLC sold the property for $2.4 million. Constructed in 2005, the two-story property is fully occupied by Café Noir, Salon Sogno, Piel Skin Boutique and Modern Dentistry of Shrewsbury. David Cohen and William Kelleher IV of Kelleher & Sadowsky Associates represented the seller in the transaction.
BROCKTON, MASS. — Marcus & Millichap has brokered the sale of a net-leased Stop & Shop grocery store located at 932 N. Montello St. in Brockton. The 65,425-square-foot property sold for $18.7 million, or $286 per square foot. Eight years remain the Stop & Shop’s original Royal Ahold N.V.-guaranteed, 20-year double-net lease. Robert Horvath of Marcus & Millichap’s Boston office represented the seller and procured the buyer. The names of both parties were not released.
WAYLAND, MASS. — Zurich Asset Management has acquired Wayland Town Center, a mixed-use retail center in Wayland, from a joint venture between KGI Properties and J.P. Morgan Asset Management for $68 million. Anchored by Stop & Shop Supermarket, the 182,000-square-foot center also includes 17,000 square feet of medical office space occupied by Beth Israel DMC, Joint Ventures and a dental practice, and 12 apartment units, totaling 14,250 square feet. Additional retail tenants at the property include Boston Sports Club, Ace Hardware, Panera Bread and The Local. Bill Moylan, formerly of CBRE, negotiated the transaction.
WALTHAM AND NORTH ANDOVER, MASS. — HFF has secured two acquisition loans totaling $35.2 million for retail properties in Massachusetts. Working on behalf of the borrower, Linear Retail Properties, HFF arranged the fixed-rate, first mortgage loans with different lenders in two separate transactions. A $14.5 million loan was placed with Cambridge Trust Company for Main Street Marketplace at 1030 Main St. in Waltham, and a $20.6 million loan was secured through Washington Trust with Middlesex Savings Bank for Eaglewood Shops at 145 Turnpike St. in North Andover. The 44,461-square-foot Main Street Marketplace is fully leased to 13 local, regional and national tenants, including iParty, Panera Bread, Chipotle Mexican Grill, GNC, Aspen Dental, Supercuts, Five Guys and AT&T. The fully leased, 77,558-square-foot Eaglewood Shops is occupied by Pier 1 Imports, Jos. A. Bank, Burtons Grill, Chipotle Mexican Grill, Thyme Sushi and b good. Riaz Cassum and Breet Paulsrud of HFF arranged the financing for the borrower.
WILMINGTON, MASS. — Avison Young has brokered the lease of 30,995 square feet of office space at 46 Jonspin Road in Wilmington, north of Boston. Limbach Company LLC signed a seven-year lease for the space from Spinelli Commercial Properties for an undisclosed price. The mechanical contractor plans to relocate from its current location one town south in Woburn, Mass., to the new space in November. The lease brings the property to full occupancy. Jack Kerrigan and Colin Whitney of Avison Young represented the landlord, while Cushman & Wakefield represented the tenant in the transaction.
WALTHAM, MASS. — American Realty Advisors has completed the disposition of an office complex located at 10, 40 and 52 Second Ave. in Waltham. The three-building property consists of 294,663 square feet. The price and the buyer were undisclosed. At the time of sale, the property was 94 percent leased to a variety of tenants, including Massachusetts General Physicians Organization Inc. and National Grid.
CAMBRIDGE, SOMERVILLE AND BOSTON, MASS. — DivcoWest has acquired a 42-acre master-planned development site known as NorthPoint from Canyon Partners Real Estate for an undisclosed price. The site is located across the Charles River from downtown Boston and spans the cities of Boston, Cambridge and Somerville. Located adjacent to two MBTA lines, the transit-oriented site is fully entitled for the development of approximately 4.5 million gross square feet, including 2.4 million gross square feet of residential space and 2.1 million square feet of commercial product. When complete, the project will feature a mix of residential, commercial office, retail, hospitality and life sciences uses surrounding a central park. JLL and DLA Piper represented the seller, while Goulston & Storrs represented the buyer in the transaction. Canyon originally purchased the property in 2010 through its Canyon-Johnson Urban Funds with its development partner, The HYM Investment Group.