WORCESTER, MASS. — Newmark has brokered the $52 million sale of a 176,000-square-foot distribution center in the central Massachusetts city of Worcester. The facility recently underwent a redevelopment project that was completed last year. Robert Griffin, Edward Maher, Matthew Pullen, Tony Coskren, Samantha Hallowell and Brian Pinch of Newmark represented the seller, R.J. Kelly Co., a locally based institutional investment firm, in the transaction. The team also procured the buyer, Boston-based Tritower Financial Group.
SAUGUS, MASS. — JLL has negotiated the $39.5 million sale of Saugus Plaza, a 165,800-square-foot shopping center in the northern Boston suburb of Saugus that is anchored by grocer Stop & Shop. Floor & Décor serves as the second anchor tenant of the center, which was 97 percent leased at the time of sale. Other tenants include Buffalo Wild Wings, North Shore Liquor and King Crab. Federal Realty Investment Trust (NYSE: FRT) sold the property to a partnership between The Grossman Cos. Inc. and Boston-based North Colony Asset Management. Nat Heald, Chris Angelone and Zach Nitsche of JLL brokered the deal.
CHELMSFORD, MASS. — The Shearwater Cos., an investment firm based in southern New England, has acquired a 91,476-square-foot industrial building in Chelmsford, a northern suburb of Boston. The sales price was $14.8 million. The recently renovated building features a clear height of 27 feet and was fully leased to a subsidiary of medical device provider Teleflex Inc. at the time of sale. Scott Dragos, Chris Skeffington, Doug Jacoby, Anthony Hayes, Roy Sandeman, Tim Mulhall and Dan Hines of CBRE represented the seller, The RAM Cos., in the transaction.
ANDOVER, MASS. — Newmark has negotiated the $151 million sale of a four-building office complex that is situated within Minuteman Park, a corporate campus located about 25 miles north of Boston in Andover. The buildings at 30, 100 and 200 Minuteman Road, along with the property at 138 River Road, total approximately 600,000 square feet. Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell and William Sleeper of Newmark represented the seller, Spear Street Capital, in the transaction. The buyer was not disclosed.
ANDOVER, MASS. — Newmark has negotiated the $190 million sale of 3000 Minuteman Road, an office development that is situated within Minuteman Park, a corporate campus located about 25 miles north of Boston in Andover. According to LoopNet Inc., the property consists of six buildings totaling roughly 700,000 square feet on a 120-acre site along the Merrimack River. Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell and William Sleeper of Newmark represented the seller, Atlantic Management, in the transaction. The buyer was not disclosed.
ANDOVER, MASS. — Boston-based mortgage banking firm EagleBridge Capital has arranged $14.6 million in debt and joint venture equity financing for 6 Riverside Drive, a 77,000-square-foot flex building in the northern Boston suburb of Andover. The property sits on 8.6 acres and houses both office and research and development space. Ted Sidel of EagleBridge Capital arranged the financing on behalf of the undisclosed borrower. The breakdown of debt and equity components was also not disclosed.
MEDFORD, MASS. — Locally based private equity firm Brookwood Financial Partners has purchased Ten Cabot, a 107,026-square-foot office building in the northwestern Boston suburb of Medford. The Class A, transit-oriented property was 97 percent leased at the time of sale. The seller and sales price were not disclosed.
NEWTON, MASS. — Boston-based Taurus Investment Holdings has acquired Wells Park, a 377,696-square-foot office complex located in the western Boston suburb of Newton, for $92 million. The three-building complex was 93 percent leased at the time of sale to tenants such as Sally Mae Corp., Newton-Wellesley Hospital, Karyopharm Therapeutics, Ascensus and Adviser Investments. Scott Dragos, Chris Skeffington, Doug Jacoby, Anthony Hayes, Roy Sandeman, Tim Mulhall and Dan Hines of CBRE represented the seller, New York-based Angelo Gordon, in the transaction. The new ownership plans to upgrade the buildings’ energy systems through its subsidiary, RENU Communities.
MARSHFIELD, MASS. — Newmark has brokered the sale of Modera Marshfield, a 248-unit apartment community located in the South Shore city of Marshfield. Built in 2021, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, multiple outdoor dining and lounge areas and shared workspaces. Michael Byrne, Thomas Greeley, Devlin Man and Casey Griffin of Newmark represented the seller, a partnership between Mill Creek Residential Trust and CrossHarbor Capital Partners, in the transaction. Boston-based TA Realty purchased Modera Marshfield, which was 90 percent occupied at the time of sale, for an undisclosed price.
PEABODY, MASS. — Locally based private equity firm Brookwood Financial Partners has sold 300 Jubilee, a 167,063-square-foot industrial building in Peabody, a northeastern suburb of Boston, for $43.1 million. Brookwood, which originally acquired the asset in 2009 for $8 million, sold the facility to an affiliate of Dallas-based Lincoln Property Co. At the time of sale, the property was 97 percent leased to a tenant roster that includes Thermo Fisher Scientific, International Transportation Group and Barton Associates. Colliers represented Brookwood in the transaction.