HAVERHILL, MASS. — CBRE has arranged the $77 million sale of Hamel Mill Lofts, a 305-unit apartment community in Haverhill, a northern suburb of Boston. The historic site originally housed the L.H. Hamel Leather Co. complex and was converted to residential use in 2010. The property comprises four apartment buildings with one- and two-bedroom units that have an average size of 846 square feet. Amenities include a clubhouse, gym and a movie theater. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the undisclosed seller in the transaction. The trio also procured the buyer, an affiliate of Boston-based DSF Group.
FOXBOROUGH, MASS. — Kraft Group is nearing completion of a 120,000-square-foot office building that will be located about 30 miles south of Boston on the Gillette Stadium campus in Foxborough, the home of the NFL’s New England Patriots and MLS’ New England Revolution. SGA designed the four-story project, construction of which began in February and is expected to be complete in October. The facility represents the first phase of a new multi-purpose project that will house the operations of Kraft Group and its subsidiary, International Forest Products, as well as those of the football team.
FOXBOROUGH, MASS. — Kraft Group is nearing completion of a 120,000-square-foot office building that will be located about 30 miles south of Boston on the Gillette Stadium campus in Foxborough, the home of the NFL’s New England Patriots and MLS’ New England Revolution. SGA designed the four-story project, construction of which began in February and is expected to be complete in October. The facility represents the first phase of a new multi-purpose project that will house the operations of Kraft Group and its subsidiary, International Forest Products, as well as those of the football team.
CAMBRIDGE, MASS. — Breakthrough Properties, a joint venture between Tishman Speyer and Bellco Capital, has started construction of One Canal by Breakthrough, a life sciences development in Cambridge, roughly two miles from downtown Boston. The property, situated along the city’s First Street corridor facing Canal Park and the Charles River in the East Cambridge neighborhood, is located adjacent to CambridgeSide — an enclosed regional mall that is being redeveloped to include 650,000 square feet of office, life sciences and residential space — and the 4.5 million-square-foot Cambridge Crossing innovation hub. Breakthrough acquired the four-story building last year, and is updating it to feature 105,000 square feet of high-quality research and development space. The property will feature a ground-floor lounge, private outdoor gathering spaces, concierge, fitness center, on-site retail and adjacent parking. A timeline for the redevelopment — which is targeting Fitwel, WELL and LEED Gold certifications — was not announced. A flurry of life sciences development is underway in the Boston metropolitan area. Recently announced projects include Phase I of Assembly Innovation Park, a life sciences tower spanning 485,000 square feet in the Boston suburb of Somerville; and Allston LabWorks, a 580,905-square-foot life sciences, retail and multifamily project in the Allston neighborhood of …
CAMBRIDGE, MASS. — Breakthrough Properties, a joint venture between Tishman Speyer and Bellco Capital, has begun construction of One Canal by Breakthrough, a life sciences development project in Cambridge, about two miles from downtown Boston. The property is located on the city’s First Street Corridor overlooking Canal Park and the Charles River in the East Cambridge neighborhood and is adjacent to CambridgeSide – a gated regional mall that is being redeveloped and includes 650,000 square feet of office, life sciences and residential space — and the 4.5-million-square-foot Cambridge Crossing innovation hub. Breakthrough acquired the four-story building last year and is modernizing it to provide 105,000 square feet of high-quality research and development space. The property will feature a ground floor lounge, private outdoor meeting spaces, concierge, fitness center, on-site shops and adjacent parking. A timeline for the redevelopment — which aims for Fitwel, WELL and LEED Gold certifications — has not been announced. A flurry of life sciences developments are underway in the Boston metro area. Recently announced projects include Phase I of Assembly Innovation Park, a 485,000-square-foot life sciences tower in the Boston suburb of Somerville; and Allston LabWorks, a 580,905-square-foot life sciences, retail, and multi-family development in Boston’s …
BOSTON — Locally based firm WS Development has unveiled plans for the redevelopment of The Street, a retail property in Boston’s Chestnut Hill neighborhood. The centerpiece of the project will involve the repositioning of the three-story, 90,000-square-foot building at 27 Boylston St. to house new retailers and restaurants, as well as office space and outdoor communal areas. The project team will also upgrade the existing landscaping, architecture and public spaces. WS Development is designing the project in partnership with global architecture firm Sasaki. Completion is slated for 2023.
SOMERVILLE, MASS. — Newmark has arranged $514 million in construction financing for Phase I of Assembly Innovation Park, a life sciences tower spanning 485,000 square feet in the Boston suburb of Somerville. BioMed Realty, a San Diego-based subsidiary of Blackstone that focuses on life sciences real estate, is developing the 12-story tower and accompanying parking garage. The tower will be situated at the intersection of Middlesex Avenue and Foley Street, with visibility along I-93. According to the property website, Phase I of Assembly Innovation Park will feature an even split between office and laboratory space. Future phases of the three-building campus will include a cafe, conference center and a food hall. David Douvadjian Sr., Timothy O’Donnell, Brian Butler, David Douvadjian Jr. and Conor Reenstierna of Newmark’s Boston office arranged the financing on behalf of BioMed Realty. The direct lender was not disclosed. Harrison Zucco of Cushman & Wakefield provided supporting financial analysis for the deal. Phase I of Assembly Innovation Park will incorporate tech-enabled sustainable features, including a high-performance curtain wall, high-efficiency chilled water and exhaust air systems and a rooftop photovoltaic array. BioMed Realty is aiming to achieve LEED Gold and WELL certifications at the property. The San Diego-based …
BOSTON — JLL has arranged a $585 million construction loan for Allston LabWorks, a 580,905-square-foot life sciences, retail and multifamily project in the Allston neighborhood of Boston. The borrower and developer is a joint venture between Boston-based King Street Properties, Brookfield and Mugar Enterprises. Allston LabWorks will feature 534,000 square feet of lab space, 20,000 square feet of retail space and 35 multifamily units, about 25 percent of which will be reserved as affordable housing. The development will also house a 5,000-square-foot outdoor event area and a 668-space parking garage. The site, which spans 4.3 acres at 305 Western Ave., is situated adjacent to Harvard University’s 350-acre Allston campus, which is home to the newly opened John A. Paulson School of Engineering & Applied Sciences. The area is also near the campuses of Boston University and Boston College, with multiple MBTA Green Line stops nearby. Greg LaBine and Amy Lousararian of JLL arranged the four-year, floating-rate loan through an undisclosed institutional debt fund. Construction of the project is underway, but a timeline for completion was not disclosed. “The fact that we were able to move quickly on this loan in today’s market conditions speaks to the level of interest and …
BOSTON — TD Bank has provided a $22 million construction loan for a project in Boston’s Hyde Park neighborhood that will convert the former William Barton Rogers Middle School building to a 74-unit affordable housing complex. Residences will be specifically reserved for seniors in the LGBTQ community and will come in a mix of studio, one- and two-bedroom formats. The developer is a partnership between Pennrose and nonprofit LGBTQ Senior Housing Inc. The design plan includes the preservation of the century-old building’s auditorium, gym, cinema and front entrance. A tentative completion date was not disclosed.
AGAWAM, MASS. — San Diego-based Cardinal Industrial has purchased a 128,500-square-foot industrial building in Agawam, located outside of Springfield. Nicholas Morizio of Colliers represented Cardinal Industrial in the transaction. The representative of the seller, The Grossman Cos., was not disclosed. At the time of sale, the building was fully leased to TW Metals and OMG Inc.