BROCKTON, MASS. — Lument has provided a $15 million HUD-insured loan for the refinancing of Alliance Health at West Acres, a seniors housing property located in the southern Boston suburb of Brockton. Built in 1965 and renovated in 2017, the property offers 130 beds. Aaron Becker of Lument originated the financing, which was structured with a 35-year term and fixed interest rate, on behalf of the owner-operator, Alliance Health & Human Services.
AVON, MASS. — Solar energy provider Navisun has signed a 60,282-square-foot industrial lease in the southern Boston suburb of Avon. According to LoopNet Inc., the property at 61 Strafello Drive was built in 1974 and renovated in 2022. Ovar Osvold, Sean Hannigan and Kevin Brawley of Colliers represented Navisun and the landlord, DH Property Holdings, in the lease negotiations.
CAMBRIDGE, MASS. — SmartLabs, which designs, builds and operates multifunctional labs, will open a 140,000-square-foot flexible lab and office space at CambridgeSide, a mixed-use mall redevelopment located across the Charles River from Boston. The spaces will be located on the third floor and will be customizable to accommodate life sciences companies from fewer than 10 to more than 100 employees. The facility, which will be the fourth in the Boston area for SmartLabs, is slated to open in late 2024. A partnership between New England Development and a client advised by UBS Asset Management owns CambridgeSide.
AVON, MASS. — DCNE, a wholesale distributor of HVAC systems, has signed a 70,337-square-foot industrial lease in the southern Boston suburb of Avon. The single-tenant property at 54 Bodwell St. sits on 4.6 acres and features 13 loading docks and a customer showroom. Ovar Osvold, Sean Hannigan and Kevin Brawley of Colliers represented DCNE and the landlord, DH Property Holdings, in the lease negotiations.
MIDDLETON, MASS. — Kenworth Northeast, a New York-based truck dealer, will open a 34,000-square-foot automotive showroom in Middleton, a northern suburb of Boston. The space will feature a full sprinkler system, LED lights, 11 service bays, a fabrication area, component rebuild area and a state inspection bay. Locally based firm Polar Design Build has been tapped as the general contractor for the project, which will be designed by Maugel DeStefano Architects. The opening is scheduled for spring 2024.
CAMBRIDGE, MASS. — Locally based investment and development firm The Davis Cos. has topped out a 161,616-square-foot life sciences facility at 101 Smith Place in Cambridge. The facility is one of four buildings within The Quad, a life sciences campus that is home to tenants such as Ginko Bioworks, Civetta Therapeutics, Invaio Sciences, Hyperion and Samsung Electronics. Davis Cos. is developing 101 Smith Place in partnership with Invesco Real Estate. Full completion is slated for the fourth quarter. CBRE will market the facility for lease.
WORCESTER, MASS. — Boston-based Synergy Investments has acquired Chestnut Place, a two-building, roughly 273,000-square-foot office complex located in the Central Massachusetts city of Worcester. The sales price was $10.5 million. Chestnut Place One is a 234,786-square-foot building that was constructed in 1990 and is anchored by Fallon Health. Chestnut Place Two is a 38,844-square-foot building that was originally constructed in the 1800s and renovated in the 1980s. Chestnut Place, which includes 248 parking spaces, was approximately 80 percent leased at the time of sale. The seller was not disclosed.
WOBURN, MASS. — Life Care Services (LCS) is nearing completion of The Delaney at The Vale, a seniors housing project in the northern Boston suburb of Woburn. The number of units and development costs were not disclosed. Boston-based architect DiMella Shaffer designed the facility, which is part of The Vale, the master-planned redevelopment of the former Kraft Atlantic Gelatin Facility. The Delaney at The Vale will offer independent living, assisted living and memory care services and is slated to open this summer.
MIDDLETON, MASS. — Nashville-based brokerage firm Matthews Real Estate Investment Services has negotiated the $7.7 million sale of a 14,440-square-foot retail property that is net leased to Walgreens in Middleton, a northern suburb of Boston. Grant Korn and Maxx Bauman of Matthews Real Estate represented the locally based seller, Newport Property Corp., in the transaction. A New York-based private investor acquired the asset via a 1031 exchange.
BOSTON — The Architectural Team (TAT) and Beacon Communities LLC have opened Phase III of The Anne M. Lynch Homes at Old Colony, an affordable seniors housing complex in South Boston. The property rises four stories and totals 51,000 square feet and 55 units. Dimeo Construction served as the general contractor on the project, which was also built using Passive House sustainability standards.