CAMBRIDGE, MASS. — Fashion retailer Zara has opened a 44,000-square-foot store in CambridgeSide, an approximately 1 million-square-foot, mixed-use development located across the Charles River from Boston in Cambridge. The two-level store includes an online order pickup silo and an assisted self-checkout area. New England Development owns CambridgeSide, which originally opened as a regional mall in 1990 and recently launched a food hall.
NORWELL, MASS. — Regional investment firm Marcus Partners has purchased an approximately 100,000-square-foot industrial property in Norwell, about 25 miles southeast of Boston. Built in 1983, the property at 77 Accord Park Drive consists of four light industrial buildings that were 78 percent leased to 13 tenants at the time of sale. Marcus Partners purchased the property in partnership with Boston-based Rhino Capital, with Middlesex Savings Bank financing the acquisition. The seller was the original developer.
PLYMOUTH, MASS. — Boston-based investment firm The Mount Vernon Co. has purchased an 80-room historic hospitality property in Plymouth, located south of the state capital, with plans to implement a repositioning. Opened in 1969 and renovated in 2021, The John Carver Inn & Spa features a full-service spa, indoor pool, meeting and event space, fitness center, game room and onsite dining options. The repositioning will cover the property’s interiors, amenities, and the food-and-beverage program. Alan Suzuki and Matthew Enright of JLL represented the undisclosed seller in the transaction.
MALDEN, MASS. — CBRE has arranged the sale of Strata, a 295-unit apartment community located north of Boston in Malden. Built in 2000, Strata is a single-story building that houses studio, one-, two- and three-bedroom units with an average size of 892 square feet. Amenities include a pool, resident lounge, private work pods, a fitness center and expansive socialization areas. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler represented the seller, an affiliate of Oregon-based investment firm The Green Cities Co., in the transaction. CBRE also procured the buyer, an undisclosed institutional investment firm.
HOLLISTON, MASS. — Regional investment firm Marcus Partners has purchased two industrial buildings totaling 68,480 square feet in Holliston, about 30 miles southwest of Boston. Completed in 2013, the building at 275 Hopping Brook Road totals 20,480 square feet and was fully leased to four tenants at the time of sale. Built in 2005, the facility at 330 Hopping Brook Road totals 48,000 square feet and was also fully leased at the time of sale. Cambridge Savings Bank provided acquisition financing for the deal, the seller in which was the original developer.
HAVERHILL, MASS. — Locally based owner-operator The Procopio Cos. has completed The Beck, a 290-unit multifamily project in the northern Boston suburb of Haverhill. The Beck consists of two five-story residential buildings that house studio, one- and two-bedroom units. Amenities include a clubroom, rideshare lounge, fitness center and a sports lounge with a golf simulator, as well as some 6,000 square feet of retail space. Dellbrook | JKS was the construction manager for the project, and CUBE3 was the architect. Needham Bank financed construction, which began in summer 2023. Rents start at $1,850 per month for a studio apartment.
EASTON, MASS. — CBRE has negotiated the sale of a 99-unit apartment building in Easton, located roughly midway between Boston and Providence. Zen Easton is a three-story building that was completed in 2003 and offers studio, one- and two-bedroom units with an average size of 798 square feet. Amenities include a resident lounge, dining hall and catering kitchen, cyber lounge, fitness center, library and two theater rooms. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, an affiliate of San Francisco-based FPA Multifamily, in the transaction. CBRE also procured the buyer, an unnamed institutional investor.
DANVERS, MASS. — The Picklr, an entertainment concept centered on pickleball, will open 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. The venue is expected to open before the end of the year.
NORTH ATTLEBORO, MASS. — Regional owner-operator Marcus Partners has broken ground on 582 Kelley, a 304-unit multifamily project that will be located in North Attleboro, about 15 miles north of Providence. The property will offer one-, two- and three-bedroom apartments and amenities such as a pool, clubhouse, fitness center, coworking space, dog park, community gardens and outdoor grilling stations. TD Bank is financing the project, the first units of which are expected to be available for occupancy sometime next year.
NEEDHAM, MASS. — Locally based investment firm Riverside Properties has purchased a 135,272-square-foot office building in Needham, about 20 miles southwest of Boston. The three-story building at 160 Gould St. offers an outdoor socialization area and a former full-service cafeteria. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell, William Sleeper, Joseph Alvarado and Casey Valente of Newmark represented the seller, James Campbell Co., in the transaction. The team also procured Riverside Properties as the buyer.