BEVERLY, MASS. — Rucker Investments has expanded its office footprint in the northeastern Boston suburb of Beverly. The family-owned firm has essentially doubled its commitment at 500 Cummings Center following a custom build-out that delivered a conference room and a full kitchen. Cummings Properties owns the property. No third-party brokers were involved in the lease negotiations.
BOSTON — Coldwell Banker Commercial Realty has brokered the $6.2 million sale of a 14,000-square-foot office building in the Brookline area of Boston. Todd Glaskin and Gregg Leppo of Coldwell Banker represented the buyer, local developer Concept Properties, in the transaction. The duo also represented the seller, a partnership between Kinross Real Estate and Greenline Realty, which purchased the building for $2.5 million in 2005.
HOLLISTON, MASS. — Marcus & Millichap has negotiated the $2.8 million sale of a vacant industrial building in Holliston, a southwestern suburb of Boston. The building at 91 Kuniholm Drive totals 52,000 square feet and features multiple loading docks and a clear height of 16 feet. Harrison Klein of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction. The new ownership plans to renovate the building to be able to support multiple small users.
MARLBOROUGH, MASS. — Colliers has arranged $41.4 million in construction financing for a 92-unit multifamily project that will be located in the western Boston suburb of Marlborough. Known as 57 Main, the property will feature 3,500 square feet of ground-floor retail space and an 8,600-square-foot amenity and mezzanine space. The financing consists of joint venture equity supplied by TwinFocus Real Estate Partners and a construction loan provided by a syndicate of lenders led by HarborOne Bank in partnership with Westfield Bank. Jeff Black, Sean Burke, Bryan Koop and Matt Lombardi of Colliers arranged the financing on behalf of the borrower, locally based developer The Procopio Cos.
READING, MASS. — Locally based brokerage firm Atlantic Capital Partners has arranged the sale of a 30,000-square-foot retail building in Reading, a northern suburb of Boston. HomeGoods occupies the entirety of the freestanding building, which sold for $5.6 million. Justin Smith, Chris Peterson, Sam Koonce and Matt Austin of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.
BOSTON — Vertex Pharmaceuticals Inc. has renewed its lease for approximately 1.1 million square feet of office and life sciences space at 50 Northern Avenue and 11 Fan Pier Boulevard in Boston. According to Loopnet Inc., both buildings were constructed in 2013 and total 587,374 and 543,098 square feet, respectively. Vertex’s existing lease, which expires in December 2028, was extended for approximately 15 years through June 2044. A joint venture that includes locally based REIT Diversified Healthcare Trust (NASDAQ: DHC) owns both buildings. The RMR Group provides property and asset management services for the joint venture.
ANDOVER, MASS. — Locally based general contractor and construction management firm Vantage Builders has completed a 10,000-square-foot headquarters expansion project for NEOLab in Andover, a northern suburb of Boston. The orthodontic laboratory operator essentially doubled its footprint across the first and second floors of the building at 3 Riverside Drive. Maugel DeStefano Architects designed the project, which delivered two 3D metal printing laboratories, an open office layout, new education space, lunchroom and a renovated warehouse and storage area.
BOSTON — Locally based brokerage firm Atlantic Capital Partners has negotiated the $4 million sale of an 11,323-square-foot vacant commercial building in downtown Boston. According to LoopNet Inc., the building at 19-21 School St. was originally built in 1953 and can support both office and retail uses. Justin Smith, Chris Peterson, Sam Koonce and Matt Ericson of Atlantic Capital Partners represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
NATICK, MASS. — Design-build firm Dacon Corp. has completed a 7,400-square-foot industrial and life sciences expansion project in Natick, a western suburb of Boston. The project is a build-to-suit for Kula Bio, which specializes in the production of agricultural products that serve as replacements to synthetic fertilizers. The facility includes manufacturing, office and research-and-development space. Kula Bio initially opened its 7,500-square-foot headquarters in Natick in late 2021 with the expectation of expanding.
BOSTON — Locally based investment and management firm Capital Properties has received a $19 million loan for the refinancing of The S.S. Pierce Building, a 72,790-square-foot office and retail building located in the Brookline area of Boston. Originally constructed in 1898 for grocer S.S. Pierce, the building currently features street-level retail space and three levels of office space. Brookline Bank is a retail tenant, and the office component includes users in the financial services and behavioral health fields, among others. Patrick Boyle, Kevin Phelan and Rose Liu of Colliers arranged the fixed-rate loan through an undisclosed balance sheet lender on behalf of Capital Properties.