Massachusetts

Calare Properties, Hackman Capital Sell 392,000 SF Manufacturing Facility in Massachusetts

by Amy Works June 3, 2015

DEVENS, MASS. — Calare Properties and Hackman Capital Partners have completed the disposition of a manufacturing facility located at 112 Barnum Road in Devens. A large institutional real estate investor acquired the 392,000-square-foot property for $36 million. Originally constructed in 2010, the property features manufacturing and research facilities including oversized air handling and humidification emergency diesel generators and gas distribution systems. Robert Gibson, Bill Moylan, Chris Angelone, Bruce Lusa and John Meador of CBRE/New England represented the seller in the transaction.

June 3, 2015

Massachusetts Northeast Office

Kelleher & Sadowsky Associates Brokers Sale of Massachusetts Office Building

by Amy Works June 2, 2015

WORCESTER, MASS. — Kelleher & Sadowsky Associates has brokered the sale of an office building located at 25 Harvard St. in Worcester. 25 Harvard Street LLC purchased the 5,400-square-foot property, known as the Otis E. Putnam House, from Phylis Jaffee of Jaffee & Associates CPA for an undisclosed price. Aisling Partners will relocate to the property from 446 Main St. in late summer/early fall. Paul Matt and David Cohen of Kelleher & Sadowsky represented both parties in the transaction.

June 2, 2015

Loans Massachusetts Multifamily Northeast

NorthMarq Capital Finalizes $54.3M Loan for Fenway Area Apartments

by Amy Works May 29, 2015

BOSTON — NorthMarq Capital has finalized $54.3 million in refinancing for a five-property portfolio of apartments in the Fenway neighborhood of Boston. Michael Chase of NorthMarq arranged the $29.3 million refinance of Symphony & Hemenway Apartments, three multifamily properties totaling 116 units in the Fenway neighborhood of Boston. This latest loan complements the $25 million loan that NorthMarq secured for the refinancing of Westland Avenue Apartments in Boston’s Fenway neighborhood. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.

May 29, 2015

Loans Massachusetts Northeast Office

EagleBridge Capital Arranges $8.9M Loan for Two Properties in Massachusetts

by Amy Works May 29, 2015

BOSTON AND NORWOOD, MASS. — EagleBridge Capital has arranged $8.9 million in permanent mortgage financing for two properties in Massachusetts. The first property, located at 33 Broad St. in Boston, features 40,500 square feet of office space and is 100 percent leased to a variety of tenants, including State Street Eye Health, Expresso Love, law firms, accountants and consultants, among others. The second property, located at 340-346 Vanderbilt Ave. in Norwood, offers 65,240 square feet of multi-tenant industrial space and is fully leased to eight tenants. Ted Sidel and Brian Sheehan of EagleBridge arranged the financing, which was provided by a financial institution.

May 29, 2015

Industrial Massachusetts Northeast

16,800 SF Industrial Property Trades Hands for $1.2M in Massachusetts

by Amy Works May 26, 2015

HUDSON, MASS. — The Stubblebine Company/CORFAC International and The Garibaldi Group have brokered the sale of an industrial service and repair building located at 2 Fox Road in Hudson. John McCarthy of NRT Bus purchased the 16,800-square-foot property for $1.2 million from DRS Power Technologies. Built in 1994, the property features 4,000 square feet of office and support space, heavy power and large drive-in doors. David Stubblebine and James Stubblebine of The Stubblebine Company, along with Chuck Bower of The Garibaldi Group, represented the seller, while Joe Aho of O’Brien Commercial Properties represented the buyer in the transaction.

May 26, 2015

Massachusetts Northeast Office Retail

ELV Associates Sells Long Wharf in Boston to Capital Properties for $34M

by Amy Works May 22, 2015

BOSTON — ELV Associates has sold the Long Wharf, a two-building office and retail property in Boston, to Capital Properties for $34 million. Totaling 77,600 square feet, Long Wharf comprises the five-story Custom House Block and the adjacent four-story Gardiner Building. At the time of sale, the property was 98 percent occupied by a variety of tenants, including AECOM and Chart House restaurant. Robert Griffin, Edward Maher, Matt Pullen, Geoffrey Millerd and Justin Smith of Cushman & Wakefield represented the seller in the transaction.

May 22, 2015

Loans Massachusetts Northeast Office

CBRE/NE Arranges Sale, Acquisition Financing for 186 Lincoln Street in Downtown Boston

by Amy Works May 21, 2015

BOSTON — CBRE/New England has arranged the sale of 186 Lincoln Street, an office building located in Boston’s South Station micro market. Morris & Morse Co. sold the property to New York-based Brickman Real Estate for $20.6 million. At the time of sale, the 68,526-square-foot property was 70 percent occupied by a variety of tenants, including Roche Diagnostics, Full Contact and Greystone Solutions. Chris Angelone, John Meador, Bruce Lusa and Jessica Dowd of CBRE/NE represented the seller in the transaction. Carlos Febres-Mazzei, Kyle Juszczyszyn, Alex Bradley and Taylor Shepard of CBRE/NE’s Debt & Structured Finance team secured acquisition financing for the buyer.

May 21, 2015

Massachusetts Multifamily Northeast Retail

Sperry Van Ness, DealPoint Merrill Form National Co-Investment Platform

by Amy Works May 19, 2015

BOSTON AND LOS ANGELES — Boston-based Sperry Van Ness International Corp. (SVNIC) has partnered with Los Angeles-based DealPoint Merrill to form a private equity firm. Operating under the name of SVN DealPoint Merrill Realty Partners, the new firm will capitalize on SVNIC’s access to investment opportunities, which will be then matched by DealPoint Merrill’s development experience. Kevin Maggiacomo, president and CEO of SVNIC, explains that the “goal of the new partnership is to build preeminent investor value by acquiring co-investment assets, which are fundamentally sound but undervalued.” “On a risk-adjusted basis, we prefer apartments, multi-tenant retail, self-storage and medical properties,” notes David Frank, CEO of DealPoint Merrill. “The new partnership will secure multiple rounds of real estate equity investment with the first tranche of approximately $100 million in the first year to acquire property in the name of the partnership.” SVNIC has approximately $9.1 billion in annual sales volumes and 190 national sales offices. DealPoint Merrill has acquired more than $2 billion in assets and attracted more than $1 billion in equity for commercial real estate investments.

May 19, 2015

Massachusetts Multifamily Northeast

Joint Venture Sells Alta Legacy Farms in Massachusetts for $59.5M

by Amy Works May 13, 2015

HOPKINTON, MASS. — A joint venture between Wood Partners LLC and Bavin Inc. has sold Alta Legacy Farms, an apartment community in Hopkinton. An affiliate of The Praedium Group LLC acquired the 240-unit property for $59.5 million. Situated on 18 acres, the $45 million development features 156 one-bedroom units and 84 two-bedroom apartments, with 39 one-bedroom units and 21 two-bedroom units classified as affordable housing. Community amenities include a clubroom, billiard room, coffee bar, media room, business center and cyber café, theater, fitness center, outdoor lounge area with fire pit and built-in grilling stations, resort-style pool with sundeck, a dog park and walking trails. The community is part of the master-planned Legacy Farms project, a 730-acre mixed-use suburban community consisting of 940 single-family and attached homes, 450,000 square feet of commercial space and more than 500 acres of preserved and restored open space. Wood Partners served as general contractor on the project, which was designed by Cube3 Studios and completed in March 2014. CB Richard Ellis – N.E. Partners represented the seller in the transaction.

May 13, 2015

Massachusetts Northeast Office

Clarks Americas Inc. to Build New Corporate Headquarters in Massachusetts

by Amy Works May 13, 2015

WALTHAM, MASS. — Clarks Americas Inc., a subsidiary of Somerset, England-based C&J Clark Limited, plans to construct a new corporate headquarters facility in Waltham. The company has signed a 15-year lease for the to-be-built 120,000-square-foot property located at 1265 Main St. The four-story building will feature a roof deck, 5,200 square feet of private outdoor terrace space, and an employee retail store and employee fitness center. Additionally, the property will feature 10-foot high windows, 50-foot skylights, a three-story lobby and covered parking. Boston Properties is the lead developer for the project, which is being designed by Spagnolo Gisness & Associates Inc. and ADD Inc. now with Stantec. Clarks Americas Inc. plans to move into the new facility in phases starting in late fall 2016.

May 13, 2015

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