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Massachusetts

60-Winter-St.-Malden-Massachusetts
AcquisitionsIndustrialMassachusettsNortheast

JLL Brokers Sale of 47,915 SF Industrial Property in Malden, Massachusetts

by Taylor Williams

MALDEN, MASS. — JLL has brokered the sale of a 47,915-square-foot light industrial property in Malden, located north of Boston. Originally built in 1958, the facility was fully leased at the time of sale to Enjet Aero, a provider of custom turbine and jet engine components.  JLL represented the seller, Eastern Real Estate, in the transaction. Michael Restivo and Jonathon Schneider of JLL arranged a five-year, fixed-rate acquisition loan through Middlesex Savings Bank on behalf of the buyer, Boston-based Novaya Real Estate Ventures.

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AcquisitionsMassachusettsNortheastRetail

RPT Realty to Purchase Grocery-Anchored Shopping Center in Metro Boston for $131.5M

by Kristin Harlow

DEDHAM, MASS. — RPT Realty (NYSE: RPT) is under contract to purchase a 510,000-square-foot, grocery-anchored shopping center in Dedham near Boston for $131.5 million. Stop & Shop is the anchor tenant. Other tenants at the property, which is nearly 92 percent occupied, include TJ Maxx, Dick’s Sporting Goods, Starbucks and Chipotle. The acquisition is expected to close in the fourth quarter. R2G Venture LLC, RPT’s joint venture platform focused on grocery-anchored assets, will be utilized to acquire the property.

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319-&-Park-Boston
DevelopmentMassachusettsMultifamilyNortheast

M2G Group Nears Completion of 38-Unit Apartment Project in East Boston

by Taylor Williams

BOSTON — Developer MG2 Group is nearing completion of 319 & Park, a 38-unit apartment project in East Boston. The luxury rental community will feature one-, two- and three-bedroom units with stainless steel appliances, quartz countertops, slab cabinetry and hardwood flooring. Private outdoor spaces will also be available in select units. Elevated Cos. is leasing the property. Full completion is slated for early 2022.

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HealthcareLeasing ActivityMassachusettsNortheastOffice

Avison Young Negotiates 18,600 SF Headquarters Lease in Metro Boston

by Taylor Williams

BILLERICA, MASS. — Avison Young has negotiated an 18,600-square-foot office headquarters lease for pharmaceutical and biotech research firm PureHoney Technologies at 3 Federal Street in Billerica, a northwestern suburb of Boston. Kirk Weller and Jason Levendusky of Avison Young represented the tenant, which will relocate from 44 Manning Road in the fourth quarter, in the lease negotiations. Brian Tisbert of JLL represented the landlord, Rhino Capital.

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DevelopmentMassachusettsNortheastOffice

Dacon Completes 19,000 SF Office Renovation Project in Waltham, Massachusetts

by Taylor Williams

WALTHAM, MASS. — Design-build firm Dacon Corp. has completed a 19,000-square-foot office renovation project in the western Boston suburb of Waltham. The building will serve as the new headquarters of Mass Electric Construction, a locally based firm founded in 1928. As part of the project, Dacon replaced closed-off wall partitions with glass-walled offices and conference rooms and built collaborative areas along the reception area and amid employee offices.

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Chapel-Street-Newton-Massachusetts
HealthcareLife SciencesLoansMassachusettsNortheastOffice

PCCP Provides $39.8M Loan for Refinancing of Metro Boston Life Sciences, Office Portfolio

by Taylor Williams

WATERTOWN AND NEWTON, MASS. — PCCP LLC has provided a $39.8 million loan for the refinancing of a portfolio of three life sciences and creative office buildings totaling 124,946 square feet in Watertown and Newton, two western suburbs of Boston. The two Watertown properties were built in the 1940s and total 43,344 square feet. The Newton property was constructed in 1900, renovated in 2017 and consists of 81,602 square feet. The borrower, Massachusetts-based KS Partners LLC, will use a portion of the proceeds to fund capital improvements. The portfolio was 94 percent leased at the time of sale.

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285-Hancock-St.-North-Quincy-Massachusetts
DevelopmentMassachusettsMultifamilyNortheast

Bozzuto, Atlantic Development Complete Phase I of Metro Boston Multifamily Project

by Taylor Williams

NORTH QUINCY, MASS. — A partnership between Maryland-based developer Bozzuto and Atlantic Development has completed Phase I of The Abby, a 218-unit multifamily project at 285 Hancock St. in North Quincy, located south of Boston. The transit-served community will ultimately consist of 610 apartments across three buildings and 50,000 square feet of retail space, the bulk of which is preleased to Target. Construction of the second phase, which will consist of 137 units and amenities such as a wellness center, rooftop pool and a lounge area, is nearing completion. Phase III will include 255 units, more amenities and retail space and is slated for a fall 2022 completion.

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1-Van-de-Graaffe-Drive-Burlington-Massachusetts
AcquisitionsMassachusettsNortheastOffice

Newmark Arranges Sale of 157,229 SF Office Building in Burlington, Massachusetts

by Taylor Williams

BURLINGTON, MASS. — Newmark has arranged the sale of a 157,229-square-foot office building located at 1 Van de Graaff Drive in Burlington, a northern suburb of Boston. The property offers proximity to Interstate 95/Route 128 and amenities such as a cafeteria and a fitness center. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the undisclosed seller and procured the buyer, commercial owner-operator FoxRock Properties, in the transaction.

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AcquisitionsMassachusettsNortheastRetail

SVN Brokers $6M Sale of Retail Center in Wellesley, Massachusetts

by Taylor Williams

WELLESLEY, MASS. — SVN | Parsons Commercial Group | Boston has brokered the $6 million sale of an 8,900-square-foot retail center in Wellesley, a western suburb of Boston. Marilyn Santiago of SVN represented the seller, an entity doing business as STMC LLC, in the transaction. Arlon Brown, also with SVN, represented the buyer, AlpCentral LLC. The property was 83 percent leased at the time of sale.

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AcquisitionsHealthcareMassachusettsNortheast

Macquarie to Buy 50 Percent Stake in $1.78B Massachusetts Healthcare Portfolio

by Taylor Williams

MASSACHUSETTS — Macquarie Infrastructure Partners V, a subsidiary of global financial services firm Macquarie Asset Management, has entered into an agreement to acquire a 50 percent stake in a portfolio of eight general acute care hospitals located in various parts of Massachusetts. Birmingham, Ala.-based Medical Properties Trust Inc. (NYSE: MPW) owns the portfolio, which is valued at $1.78 billion. Dallas-based Steward Health Care currently operates the properties and recently extended its leases through 2041. Medical Properties Trust will use proceeds to repay debt and fund its previously announced $950 million Springstone inpatient behavioral health facility transactions, which are expected to close in the second half of the year.

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