PEABODY, MASS. — Vantage Builders has completed a 26,000-square-foot medical office renovation project in Peabody, a northeastern suburb of Boston, that is a build-to-suit for North Shore Physicians Group. Shepley Bulfinch designed the project, which converted 17,000 square feet of ground-floor traditional office space into medical office space. Vantage also built out offices and training areas for administrators and medical office staff on the second floor as part of North Shore’s expansion plan and modified the plumbing, electrical and HVAC systems.
BURLINGTON, MASS. — Locally based mortgage banking firm Fantini & Gorga has arranged $12.5 million in financing for One Wheeler Road, a 22,000-square-foot retail property located on the northern outskirts of Boston in Burlington. The undisclosed borrower will use the proceeds to redevelop One Wheeler Road and rebrand the property as Gateway Burlington. Casimir Groblewski and Colin Monahan of Fantini & Gorga placed the debt through a direct lender that also requested anonymity. Construction is underway and expected to be complete before the end of the year.
ANDOVER, MASS. — Global technology firm Broadcom has signed a 60,000-square-foot office lease renewal at 100 Brickstone Square in the northern Boston suburb of Andover. Brickstone Square was originally constructed in 1922 and recently underwent a capital improvement program that delivered expanded café services, a fitness center, onsite bistro, game room and a new outdoor patio and courtyard. Blake Baldwin, Shayne O’Neil and Petra Flynn represented the landlord, KS Partners, in the lease negotiations. John Wilson of CBRE represented the tenant.
WOBURN, MASS. — Locally based brokerage and advisory firm KeyPoint Partners has negotiated a 21,842-square-foot retail lease at Main Street Shopping Center in Woburn, a northern suburb of Boston. The tenant, Ski Haus, a retailer of outdoor patio furniture and winter sports equipment, will backfill a space previously occupied by AC Moore at the grocery-anchored center. Don Mace of KeyPoint Partners represented the undisclosed landlord in the lease negotiations.
ANDOVER, MASS. — Employment agency ALKU has signed a 75,000-square-foot office lease at 100 Brickstone Square in the northern Boston suburb of Andover. Brickstone Square was originally constructed in 1922 and recently underwent a capital improvement program that delivered expanded café services, a fitness center, onsite bistro, game room and a new outdoor patio and courtyard. Blake Baldwin, Shayne O’Neil and Petra Flynn represented the landlord, KS Partners, in the lease negotiations. Joe Doyle of Cresa represented the tenant.
WOBURN, MASS. — JLL has brokered the sale of the 126-room Fairfield Inn Boston Woburn/Burlington hotel, located north of the state capital. The property underwent a renovation in 2015-2016 and offers a business center, fitness center, outdoor pool and a sundry store. Alan Suzuki, Matthew Enright, Emily Zhang and Miranda Guajardo of JLL represented the seller, a joint venture between funds managed by Contrarian Capital Management and Waramaug Hospitality, in the transaction. The buyer was not disclosed.
BOSTON — Cushman & Wakefield has brokered the $107.5 million sale of Yard 5, a 196,000-square-foot industrial property in Boston’s Hyde Park neighborhood. The three-building property, which features clear heights of 28 feet and includes two undeveloped parcels totaling seven acres, was fully leased at the time of sale. Dave Pergola, Brian Doherty, Pete Rogers, Rob Byrne and Jim Murphy of Cushman & Wakefield represented the seller, First Highland Management & Development, in the transaction. Intercontinental Real Estate Corp. purchased the asset.
PLAINVILLE, MASS. — Thermo Fisher Scientific, which researches and manufactures gene therapy treatments, has opened a 300,000-square-foot life sciences facility in Plainville, located near the Massachusetts-Rhode Island border. Thermo Fisher will use the facility, which will contain lab, manufacturing and distribution space, for the production and testing of viral vectors, which are key components of gene therapy treatments. The project is expected to bring about 300 new jobs to the local economy. With the opening of the Plainville site, Thermo Fisher now operates 15 facilities and employs more than 3,500 people throughout Massachusetts.
CHELSEA, MASS. — MassHousing has provided $10.4 million in construction financing for a project that will convert a former light industrial site in the northeastern Boston suburb of Chelsea into a 62-unit mixed-income complex. Units will come in one-, two- and three-bedroom formats and will be reserved for renters earning up to 30, 60 and 90 percent of the area median income (AMI). In addition, six units will be available for purchase by households that are first-time homebuyers earning up to 80 or 100 percent of AMI. The borrower is nonprofit organization The Neighborhood Developers. NEI General Contracting is constructing the project, and Utile Architecture & Planning is designing it. A tentative completion date was not disclosed. WinnCos. will manage the property.
CANTON, MASS. — A joint venture between Jumbo Capital and Apollo Global Management has purchased a 79,000-square-foot office building in the southern Boston suburb of Canton for $21 million with plans to convert the property into a life sciences facility. The development team plans to redevelop the existing building and add a 46,460-square-foot manufacturing space. Jeff Black, Bryan Koop and Sean Burke of Colliers arranged $57.7 million in acquisition and construction financing through Cambridge Savings Bank on behalf of the joint venture. Frank Petz, Matt Sherry, Brooke Howard and Rob Schlesinger, also with Colliers, brokered the sale of the property.