DANVERS, MASS. — The Picklr, an entertainment concept centered on pickleball, has opened a 36,192-square-foot venue in Danvers, a northern suburb of Boston. The space is located within a former Bed Bath & Beyond store at Endicott Square, a 56,275-square-foot shopping center that is also home to tenants such as Quest Diagnostics, Salem Five and Advance Auto Parts. Don Mace of local brokerage firm KeyPoint Partners represented the undisclosed landlord in the lease negotiations.
DEVENS, MASS. — A partnership between Pivotal Manufacturing Partners and Declaration Partners has purchased a 165,335-square-foot manufacturing facility in Devens, located northwest of Boston, for $74 million. The facility, which was built in 2022, serves as the global headquarters and magnet production hub of Commonwealth Fusion Systems. Building features include a clear height of 32 feet, three tailboard dock doors, one drive-in door and 283 parking spaces. John Alascio, Alan Blank, Alex Lapidus, Rob Borden and Heather Brown of Cushman & Wakefield arranged $52.8 million in acquisition financing for the deal through Goldman Sachs.
FRAMINGHAM, MASS. — Regional brokerage firm Atlantic Capital Partners has arranged the $32.6 million sale of a retail building located in the western Boston suburb of Framingham. The building sits on a 9.5-acre site and is ground-leased to Lowe’s Home Improvement. Justin Smith, Chris Peterson, Sam Koonce, Danielle Turpin and Matt Ericson of Atlantic Capital Partners represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
GEORGETOWN, MASS. — JLL has negotiated the sale-leaseback of a 59,480-square-foot industrial property in Georgetown, located north of Boston. Built in 2004 on an 8.6-acre site, the warehouse and manufacturing building features a clear height of 21 feet and 71 parking spaces. Michael Restivo, David Coffman and Tommy Hovey of JLL brokered the deal. The seller/occupant was not disclosed. Anthony Cutone and Ryan Parker, also with JLL, arranged fixed-rate acquisition financing on behalf of the buyer, Equity Industrial Partners.
DARTMOUTH, MASS. — Pennsylvania Real Estate Investment Trust (PREIT) has received $56 million in financing for Dartmouth Mall, a 671,000-square-foot regional shopping and dining destination in southeastern Massachusetts. Tenants that recently committed to Dartmouth Mall include Boot Barn, Locker Room by Lids and Chick-fil-A. Macy’s and J.C. Penney are the mall’s anchor tenants, and other major retailers include Burlington, ALDI, ULTA Beauty, AMC Theatres, H&M, Five Below and Old Navy. The 10-year loan carries a 7.1 percent interest rate for the first five years and matures in October 2035.
BOSTON — Global private equity firm KKR has signed a 15-year, 132,529-square-foot office lease at Two International Place in downtown Boston. International Place is a 1.8 million-square-foot complex that was built in phases between 1987 and 1992 and is currently in the midst of a $100 million renovation. JLL and Cushman & Wakefield co-represented KKR in the lease negotiations. Newmark represented the landlord, The Chiofaro Co., which owns International Place in partnership with PGIM.
BOSTON — A joint venture between BXP (NYSE: BXP), formerly Boston Properties, and Delaware North, a privately owned hospitality and entertainment company, has received a $465 million loan for the refinancing of a portion of The Hub on Causeway. The 1.5 million-square-foot mixed-use development is located in the West End neighborhood of Boston. Situated on the site of the former Boston Garden arena, the original home arena of the Boston Bruins and Boston Celtics, The Hub on Causeway is now a transit-oriented development that features 811,000 square feet of office space and 440 luxury apartments, as well as 250,000 square feet of retail space and a 60,000-square-foot Star Market grocery store. An affiliate of Verizon Communications anchors the development on a 20-year lease. Wells Fargo Bank, Morgan Stanley Bank and Bank of America provided the loan to BXP and Delaware North. The joint venture refinanced The Hub on Causeway’s office tower and “podium,” which is the lower section that houses a food hall, creative office space and a movie theater. “We are pleased to complete this financing, which not only enhances the strength and flexibility of our balance sheet, but also demonstrates our access to attractively priced capital in the secured …
BOSTON — Walker & Dunlop has provided a $356.4 million Freddie Mac loan for the refinancing of a portfolio of four multifamily properties totaling 1,817 units in New England. The portfolio comprises Royal Crest Marlboro, a 473-unit property located west of Boston; Royal Crest Warwick, a 492-unit community in Rhode Island; Waterford Village, a 588-unit asset located south of Boston; and Wexford Village, a 264-unit complex in Worcester. The properties were all built between 1970 and 1974. Craig West led the Walker & Dunlop team that originated the financing on behalf of the borrower, an affiliate of Harbor Group International.
BOSTON — JLL has arranged $8 million in financing for a 75,000-square-foot office building located at 15 Broad St. in downtown Boston. The 10-story building was originally constructed in 1910. Amy Lousararian and Hugh Doherty of JLL arranged the five-year, fixed-rate loan through MountainOne Bank. The borrower, local owner-operator Broder, plans to use proceeds to fund capital improvements, including a redesign of the lobby, upgrading of common areas and the introduction of a new amenity package.
BOSTON — MassDevelopment has provided $37.6 million in tax-exempt bond financing for an affordable housing conversion project in Boston. The project will convert the former Blessed Sacrament Church in the Jamaica Plain neighborhood, which was built in the early 1900s and served as an active parish until the early 2000s, into a 55-unit complex. The unit mix will consist of 17 studios, 25 one-bedroom residences and 13 two-bedroom apartments that will be reserved for households earning between 30 and 80 percent of the area median income. Six units will be specifically reserved for formerly homeless individuals. Construction is underway and is expected to be completed in early 2028. The developer is a partnership between an affiliate of Pennrose and the local nonprofit Hyde Square Task Force. Citizens Bank purchased the bond.