Massachusetts

Colliers Brokers $79M Sale of Two Industrial Facilities in Northborough, Massachusetts

by Taylor Williams July 27, 2023

NORTHBOROUGH, MASS. — Colliers has brokered the $79 million sale of two industrial facilities totaling 387,544 square feet in Northborough, located outside of Worcester in central Massachusetts. According to LoopNet Inc., the warehouse at 301 Bartlett St. was built in 2018 and totals 220,106 square feet, and the facility at 150 Hayes Memorial Drive was constructed in 2020 and spans 167,438 square feet. Frank Petz, Matthew Sherry and Jack Barrett of Colliers represented the seller, Boston-based TA Realty, in the transaction. The buyer was industrial investment firm LBA Realty.

July 27, 2023

Acquisitions Massachusetts Northeast Office

Newmark Brokers Sale of 28,244 SF Office Complex in Metro Boston

by Taylor Williams July 27, 2023

NEWTON, MASS. — Newmark has brokered the sale of a 28,244-square-foot office complex located at 70 Wells Ave. in the western Boston suburb of Newton. The sales price was roughly $4 million. Robert Griffin, Joseph Alvarado, George Demoulas and Casey Valente of Newmark represented the seller, Wingate Cos., in the transaction. The team also procured the buyer, Legacy Real Estate Ventures.

July 27, 2023

Affordable Housing Development Loans Massachusetts Multifamily Northeast

MassHousing Provides $16.3M in Financing for Affordable Housing Project in Wareham, Massachusetts

by Taylor Williams July 26, 2023

WAREHAM, MASS. — MassHousing has provided $16.3 million in financing for the development of a 93-unit affordable housing project in Wareham, located near Cape Cod in the southern part of The Bay State. The development will consist of two complexes that will feature a range of floor plans and income restrictions, as well as shared amenities. The financing includes $8.4 million in permanent financing, a $6.6 million bridge loan and $1 million from the agency’s workforce housing initiative. The borrower is Pennrose LLC.

July 26, 2023

Development Massachusetts Multifamily Northeast

RISE Nears Completion of 42-Unit Multifamily Redevelopment in Haverhill, Massachusetts

by Taylor Williams July 25, 2023

HAVERHILL, MASS. — Locally based developer RISE is nearing completion of a multifamily redevelopment project at 86 Essex St. in Haverhill, a northern suburb of Boston. The project is converting a seven-story former industrial building in the downtown area that was originally constructed in 1910 into a 42-unit apartment complex that will be known as Essex Street Lofts. Full completion is scheduled for October.

July 25, 2023

Affordable Housing Development Massachusetts Multifamily Northeast

Beacon Communities, CCBA Break Ground on 85-Unit Affordable Housing Project in Boston

by Taylor Williams July 24, 2023

BOSTON — A partnership between nonprofit owner-operator Beacon Communities and the Chinese Consolidated Benevolent Association of New England Inc. (CCBA) has broken ground on Pok Oi, an 85-unit affordable housing project in Boston’s Chinatown district. The complex will offer one-, two- and three-bedroom units that will be reserved for renters earning 80 percent or less of the area median income. Nine units will be specifically set aside for citizens experiencing homelessness. Citizens Bank provided construction financing for the project, and MassDevelopment issued tax-exempt bonds. Completion is slated for late 2024.

July 24, 2023

Leasing Activity Massachusetts Northeast Office

Deloitte Signs 138,000 SF Office Lease at Winthrop Center in Downtown Boston

by Taylor Williams July 21, 2023

BOSTON — Deloitte has signed a 138,000-square-foot office lease at Winthrop Center, an 812,000-square-foot mixed-use complex in downtown Boston. The accounting giant plans to take occupancy in fall 2024. Regional developer Millennium Partners owns Winthrop Center, which offers amenities such as a fitness facility and meeting and event space. CBRE represented both parties in the negotiations for the lease, which is the largest to be executed within the Boston office market this year, according to multiple media sources including The Boston Globe.

July 21, 2023

Leasing Activity Life Sciences Massachusetts Northeast

Envision Energy Signs 35,276 SF Life Sciences Lease in Burlington, Massachusetts

by Taylor Williams July 19, 2023

BURLINGTON, MASS. — Envision Energy, a Chinese provider of wind turbines and other renewable energy products, has signed a 35,276-square-foot life sciences lease in Burlington, a northwestern suburb of Boston. The tenant has committed to a full-building lease within Northwest Park, a facility that is owned by Nordblom Co. Jim Boudrot, Steve James and Patrick Grady of Hunneman represented the tenant in the lease negotiations.

July 19, 2023

Acquisitions Industrial Massachusetts Northeast Self-Storage

Marcus & Millichap Brokers Sale of 496-Unit Self-Storage Facility in Lakeville, Massachusetts

by Taylor Williams July 18, 2023

LAKEVILLE, MASS. — Marcus & Millichap has brokered the sale of Community Square Storage, a 496-unit self-storage facility located about 35 miles south of Boston in Lakeville. Built on 3.3 acres in 2022, the three-story facility spans 53,462 net rentable square feet across 436 climate-controlled units and 60 non-climate-controlled units. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer was also not disclosed. Thomas Shihadeh of Marcus & Millichap assisted in closing the deal as the broker of record.

July 18, 2023

Acquisitions Industrial Massachusetts Northeast Self-Storage

Marcus & Millichap Brokers Sale of 1,100-Unit Self-Storage Facility in Peabody, Massachusetts

by Taylor Williams July 14, 2023

PEABODY, MASS. — Marcus & Millichap has brokered the sale of Andover Street Self Storage, a 1,100-unit facility located on the northern outskirts of Boston in Peabody. The facility spans 76,396 net rentable square feet. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer was not disclosed. Thomas Shihadeh of Marcus & Millichap assisted in closing the deal as the broker of record.

July 14, 2023

Development Hospitality Massachusetts Northeast

Shawmut Design & Construction Completes Renovation of Boston’s Four Seasons Hotel

by Taylor Williams July 11, 2023

BOSTON — Shawmut Design & Construction has completed the renovation of the Four Seasons Boston, a 273-room hotel located roughly midway between the state capital’s Back Bay and downtown areas. The project team upgraded the lobby and arrival area and added new art installations. A new lounge and restaurant called Coterie also recently opened at the property. An entity doing business as FSH Boylston Inc. owns the hotel.

July 11, 2023

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