HAVERHILL, MASS. — Scully Co., a multifamily investment firm based in Pennsylvania, has acquired The Bixby, a 128-unit apartment complex in the northern Boston suburb of Haverhill. The transit-oriented property features studio, one-, two- and three-bedroom units. Amenities include a resident lounge with games and TVs, an entertainment kitchen, 24-hour fitness center, package handling room and a dog park. Adam Dunn and Chris Phaneuf of Berkadia represented the seller, Blackfin Real Estate Investors, in the transaction. Robert Falese, also with Berkadia, originated a $24.4 million Freddie Mac acquisition loan on behalf of Scully Co., which plans to upgrade unit interiors and common areas.
BEDFORD, MASS. — Newmark has brokered the $132 million sale of One Patriots Park, a 143,553-square-foot life sciences complex in Bedford, a northwestern suburb of Boston. The seller, Jumbo Capital Inc., redeveloped the property in 2019 to support life sciences users. At the time of sale, four such tenants — Homology Medicines Inc., N2 Biomedical, Frontera Therapeutics and Obsidian Therapeutic — occupied the entirety of the facility. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented Jumbo Capital and procured the buyer, Barings, in the transaction.
BOSTON — Arden Logistics Parks, the industrial investment arm of Philadelphia-based Arden Group, has purchased a portfolio of eight industrial properties totaling roughly 1.3 million square feet that are located throughout southeast Massachusetts. The sales price was $160 million. Specifically, the properties, which were built between 1968 and 2016, are located in Mansfield, Fall River, New Bedford, Seekonk, Attleboro and Norton. Scott Dragos, Chris Skeffington, Doug Jacoby, Anthony Hayes, Tim Mulhall, Roy Sandeman and Dan Hines of CBRE represented the seller, Westbrook Partners, in the transaction. At the time of sale, the portfolio was 97 percent leased to 23 tenants, including Nestle, T-Mobile, Displays2Go and Whirlpool.
WELLESLEY, MASS. — Newmark has negotiated the sale of Park 9, a 375,058-square-foot office campus in Wellesley, a western suburb of Boston. The four-building development is leased to tenants such as Sun Life, Morgan Stanley and Boston Children’s Hospital and includes a 120,000-square-foot structure with immediate life sciences conversion potential. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the seller, BentallGreenOak on behalf of Sun Life, in the transaction and procured the buyer, Beacon Capital Partners.
BOSTON — New York City-based real estate giant Tishman Speyer has sold Pier 4 Retail, a 16,134-square-foot retail condo in Boston’s Seaport District for $12 million. Built in 2019, the property was fully leased to two restaurant concepts at the time of sale. Chris Angelone, Nat Heald, Kellie Coveney and Zach Nitsche of JLL represented Tishman Speyer in the transaction. The buyer was not disclosed.
BOSTON — GI Partners has acquired 451 D Street, a state-of-the-art life sciences, data center and creative office building in Boston’s Seaport District. The price was not disclosed, but the seller, Related Fund Management, bought the asset for $276 million in 2018, according to reports by the Boston Business Journal. The nine-story, 479,000-square-foot building recently underwent two phases of lab conversion that total over half of the building’s rentable area. The property offers 536 parking spaces; a conference center; amenity center with a lounge, kitchen and games; an onsite cafe; bicycle storage; and a 3,000-square-foot fitness center. Current tenants include AT&T, J.P.Morgan, Silicon Therapeutics, Elektrofi, BT, Inozyme Pharma, Cellink, Stevanato Group Pharmaceutical Systems, Joyn Bio, Sensei Biotherapeutics, DermBoint and Dewpoint Therapeutics. Related will maintain a minority interest in the property and Related Beal will continue to serve as property manager. Eastdil Secured represented the seller in the transaction and placed debt financing for the new ownership group. “The Seaport has become a bona fide life sciences innovation hub and 451 D exemplifies our focus on serving the needs of small and medium-sized lab tenants through Class A reusable buildouts,” says John Sheputis, managing director at GI Partners and head of acquisitions for …
PEABODY, MASS. — JLL has arranged a $20.3 million acquisition loan for a 157,293-square-foot industrial property located in the northeastern Boston suburb of Peabody. Built in 1986, the property was fully leased at the time of the loan closing to Wakefield Moving Storage and Paradigm Precision. Building features include a clear height of 24 feet, 17 tailboard docks, one drive-in door and ample parking. Brett Paulsrud and Amy Lousararian of JLL placed the seven-year, fixed-rate loan through Metro Credit Union. The borrower was a partnership between Oliver Street Capital and Bain Capital Real Estate.
WORCESTER, MASS. — Shawmut Design & Construction has broken ground on a 70,000-square-foot academic building at Clark University in the central Massachusetts city of Worcester. The two-wing building will serve as the new center for the media arts, computing and design programs. Design features will include a multimedia gallery, virtual reality lab, video game library for researching interactive media, a makerspace, incubator space, robotics lab, data science lab, a tiered classroom and faculty offices. Completion is slated for next fall.
MILFORD, MASS. — Ambri, a provider of renewable energy storage solutions, has signed a 140,000-square-foot lease to open a build-to-suit manufacturing facility in Milford, located in the southern central part of the state. The facility will be located within Quarry Square, a retail center that is being redeveloped into an industrial flex property. Steve Clancy and Danielle Simbliaris of CBRE represented the landlord, R.J. Kelly, in the lease negotiations. Chris Scott of Dallas-based Lincoln Property Co. represented the tenant.
RANDOLPH, STOUGHTON AND FOXBOROUGH, MASS. — Newmark has brokered the sale of a portfolio of five industrial facilities totaling 295,602 square feet that are situated on the southern outskirts of Boston. Three of the facilities are located in Randolph, one is in Stoughton and one is located in Foxborough. At the time of sale, the portfolio was 75 percent leased to nine tenants. Robert Griffin, Edward Maher, Matthew Pullen, Tony Coskren, Brian Pinch, Samantha Hallowell and Allie Percoco of Newmark represented the seller, a partnership between Wheelock Street Capital and The Seyon Group, in the transaction. The team also procured the buyer, Ares Management.