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.
LAWRENCE, MASS. — Locally based brokerage firm ABG Commercial Realty has negotiated the $15.7 million sale of a 90,692-square-foot industrial property in Lawrence, located north of Boston near the Massachusetts-New Hampshire border. The property was built on 6.2 acres in 1968 and renovated in 2014. At the time of sale, the facility was fully leased to logistics firm Mainstream Global. The buyer was a joint venture between Boston-based Oliver Street Capital and an undisclosed institutional investor. The seller was also not disclosed.
BELCHERTOWN, MASS. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of a 56,832-square-foot retail property occupied by grocer Stop & Shop in the Central Massachusetts community of Belchertown. The property sold for $14.6 million, or roughly $258 per square foot. The buyer and seller were not disclosed. Jim Koury and Marty Cohan of IPA brokered the deal.
CAMBRIDGE, MASS. — Newmark has arranged the $815 million sale of Charles Park, a two-building office complex and parking garage in Cambridge. The Davis Cos. and Principal Real Estate Investors sold the asset to an affiliate of Alexandria Real Estate Equities Inc. (NYSE: ARE). Charles Park spans 408,259 square feet and consists of two Class A office buildings, One Rogers Street and One Charles Park. The property also includes a 656-space, seven-level parking garage. Alexandria plans to redevelop the two buildings into life sciences space, but further details of that project were not provided. Situated near Charles Park is the nearly 1 million-square-foot CambridgeSide complex, which is undergoing a residential and retail development. Charles Park is also located near two Massachusetts Bay Transportation Authority (MBTA) subway stations, the campus of Massachusetts Institute of Technology (MIT), the new Cambridge Crossing mixed-use development and Massachusetts General Hospital. “Charles Park is well positioned along Kendall Square’s rapidly expanding First Street corridor with immediately recognizable architecture highlighted by its distinctive horseshoe-shaped façade,” says Edward Maher, vice chairman with Newmark. “The asset is further surrounded by an unmatched laboratory and technology mecca in the life sciences epicenter of the world.” Maher, along with Robert Griffin, …