WELLESLEY, MASS. — Linear Retail Properties LLC has acquired two buildings totaling 17,000 square feet in Wellesley, located west of Boston in Norfolk County, for a combined price of $12.2 million. The two-story building at 25-35 Central St. houses 8,500 square feet of retail space that is leased to Footstock, Laurel Grove, Marika’s Salon, Skinscapes and Winston Flowers, as well as 2,500 square feet of residential space. The building at 53-61 Central St. spans 6,000 square feet of retail space that is leased to Cocobeet, Eileen Fisher, Lacrosse Unlimited, O’Neil Jewelers and Wellesley Toy Shop. Marilyn Santiago of SVN | Parsons Commercial Group represented the undisclosed sellers in the transactions.
BURLINGTON, MASS. — GI Partners, an investment firm with four offices across the country, has acquired a 164,000-square-foot life sciences building in Burlington, a northern suburb of Boston. in GI Partners acquired the asset as part of a life sciences portfolio sale that included a 103,000-square-foot building in Boston’s Seaport District, as well as a 152,000-square-foot building near Raleigh, N.C. The seller and sales price were not disclosed. The new ownership plans to implement a value-add plan.
BOSTON — GI Partners, an investment firm with four offices across the country, has acquired a 103,000-square-foot life sciences building located at 51 Melcher St. in Boston’s Seaport District. The nine-story building was originally constructed in 1915 and renovated in 2013. GI Partners acquired the asset as part of a life sciences portfolio sale that included a 164,000-square-foot building in nearby Burlington, as well as a 152,000-square-foot building near Raleigh, N.C. The seller and sales price were not disclosed.
PEABODY, MASS. — Boutique fitness operator Gymja Warrior has signed a 11,345-square-foot retail lease at Route One Marketplace in Peabody, a northeastern suburb of Boston. Other tenants at the fully leased center include Bradford Carpet One, Namco, Crossfit 128 and Mass Bay Hockey Center. Don Mace of locally based brokerage and advisory firm KeyPoint Partners represented the undisclosed landlord in the lease negotiations.
BOSTON — MassDevelopment has issued $53.6 million in tax-exempt bond financing to Washington Pine LLC for the construction of a five-story, 202-unit complex in Boston. Located at 3368 Washington St., the building will house 140 units of supportive housing for individuals transitioning out of homelessness, and the remaining 62 units will be affordable apartments. All residential units will be managed by The Community Builders Inc., while long-term support for all formerly homeless residents will be provided by homeless services provider Pine Street Inn. The project will feature 24/7 front desk security, spaces for resident gatherings, fitness rooms, laundry rooms, a parking garage, two plazas and bike repair and storage. Construction is slated for completion by late 2023. Barings LLC was the corporate bond purchaser.
BURLINGTON, MASS. — SVN | Parsons Commercial Group | Boston has arranged the $8.8 million sale of a 40,000-square-foot office/flex building in Burlington, a northern suburb of Boston. The building sits on three acres just off Route 128 and across from the Burlington Mall. Marci Alvarado of SVN represented the seller, a partnership between two limited liability companies, in the transaction. Dean Blackey and Elizabeth Holmes of RW Holmes represented the buyer, ACCO Properties LLC.
BOSTON — Coldwell Banker Commercial has brokered the $15 million sale of a 16,500-square-foot retail building located on a half-acre site at 1004-1016 Beacon St. in Boston’s Brookline neighborhood. Todd Glaskin and Gregg Leppo of Coldwell Banker represented the seller, a local family trust, in the transaction. Casimir Groblewski and Colin Monahan of locally based mortgage banking firm Fantini & Gorga arranged a $13 milion acquisition loan for the deal.
CAMBRIDGE, MASS. — MassDevelopment has issued $10.3 million in tax-exempt bond financing to Putnam School Apartments LLC, an affiliate of the Cambridge Housing Authority. The borrower will use the proceeds to buy and renovate Putnam School Apartments, a 33-unit affordable housing facility serving seniors and individuals with disabilities. A historic schoolhouse built in 1890, the building was converted to multifamily in 1983; most of the housing units have not been updated since. Renovations will include upgrading mechanical, electrical, plumbing and ventilation systems, as well as installing new flooring, lighting, cabinets, counters, fixtures and appliances within the units.
FRANKLIN, MASS. — Colliers has negotiated an 81,293-square-foot industrial sublease in Franklin, located southeast of Boston in Norfolk County. Stephen Woelfel, Kevin Brawley, P.J. Foster, John Real and Glenne Bachman of Colliers represented the original tenant, medical device manufacturer Tegra Medical, in the lease negotiations. Tim Lahey, Perry Beal and John Lashar of CBRE represented the sublessee, biopharmaceutical company Lyndra Therapeutics.
BOSTON — Indianapolis-based pharmaceutical giant Eli Lilly & Co. has unveiled plans for a $700 million institute for genetic medicine in Boston’s Seaport District. The opening is slated for 2024. The company has signed a 334,000-square-foot lease at 15 Necco St., a 12-story healthcare and life sciences building that Alexandria Real Estate Equities (NYSE: ARE) is developing. At the facility, Lilly will develop genetic medicines with a range of applications, including diabetes, immunology and central nervous system research. Curtis Cole, John Carroll III, Evan Gallagher, Tim Allen and Caitlin Mahoney of Colliers represented Eli Lilly in the deal. The site will also include a shared space modeled after Lilly Gateway Labs in San Francisco to support biotech startups in the Boston area. This area will afford users access to dedicated and configurable lab and office space and opportunities for collaboration with Lilly scientists. These companies are expected to generate as many as 150 additional new jobs once the space is fully occupied. The investment follows Lilly’s 2020 Prevail Therapeutics initiative, which centered on the launch of a gene therapy facility in New York City. Lilly projects that within five years, employment at the Boston facility will grow from 120 to …