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Massachusetts

Juniper-Everett
DevelopmentMassachusettsMultifamilyNortheast

Greystar Breaks Ground on 416-Unit Multifamily Project in Everett, Massachusetts

by Taylor Williams

EVERETT, MASS. — South Carolina-based developer Greystar has broken ground on a 416-unit multifamily project in the eastern Boston suburb of Everett. The project represents the second phase of a larger development at 1690 Revere Beach Parkway, the first phase of which totals 325 units and is known as Jade. Phase II will be known as Juniper and is slated for a mid-2026 delivery. CUBE3 Architects designed both properties, which between them will include 850 parking spaces, 10,500 square feet of retail space and 22,800 square feet of amenity space.

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Rhino-Capital-Taunton
DevelopmentIndustrialMassachusettsNortheast

Rhino Capital Breaks Ground on 180,000 SF Manufacturing Facility in Taunton, Massachusetts

by Taylor Williams

TAUNTON, MASS. — Boston-based investment firm Rhino Capital Advisors has broken ground on a 180,000-square-foot manufacturing facility in Taunton, located south of Boston near the Massachusetts-Rhode Island border. The site spans 11.2 acres within Myles Standish Industrial Park, and the building will feature a clear height of 36 feet, five loading docks and 270 parking spaces. Rhino Capital is developing the property in partnership with MassDevelopment and the Taunton Development Corp. Construction is expected to be complete next spring.

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IndustrialLoansMassachusettsNortheast

JLL Arranges $27.8M Acquisition Loan for Greater Boston Industrial Portfolio

by Taylor Williams

BOSTON — JLL has arranged a $27.8 million acquisition loan for a portfolio of four industrial buildings totaling roughly 400,000 square feet in the greater Boston area. The names and addresses were not disclosed. The properties comprise a mix of single-tenant warehouse, distribution and manufacturing buildings that were 100 percent leased at the time of the loan closing. Andrew Gray and Ryan Parker arranged the nonrecourse, fixed-rate loan through Bristol County Savings Bank on behalf of the borrower, NorthBridge Partners.

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AcquisitionsMassachusettsNortheastRetail

CBRE Arranges $23M Sale of Shopping Center in Weymouth, Massachusetts

by Taylor Williams

WEYMOUTH, MASS. — CBRE has arranged the $23 million sale of Riverway Plaza, a 250,000-square-foot shopping center in Weymouth, a southern suburb of Boston. Lowe’s Home Improvement anchors the center, which sits on 23 acres. Other tenants include Michael’s, Dollar Tree and Staples. Nat Heald and Jordana Roet of CBRE represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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Leasing ActivityMassachusettsNortheastOffice

Bohler Engineering Signs 20,000 SF Office Lease in Westborough, Massachusetts

by Taylor Williams

WESTBOROUGH, MASS. — Bohler Engineering has signed a 20,000-square-foot office lease for its new regional headquarters in the central Massachusetts city of Westborough. The 92,600-square-foot building at 50 Washington St. includes a fitness center and a cafeteria. Steve Woelfel and Kevin Brawley of Colliers represented the tenant in lease negotiations. Bob McGuire and Alison Powers of JLL represented the locally based landlord, Carruth Capital.

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Stop&Shop
Company NewsConnecticutMassachusettsNew JerseyNew YorkNortheastProperty TypeRetailRhode IslandTop Stories

Stop & Shop to Close 32 Stores in the Northeast

by Hayden Spiess

QUINCY, MASS. — Stop & Shop, a grocery store chain based in the Boston suburb of Quincy, has announced plans to close 32 locations by the end of this year.  Situated throughout the Northeast, the stores — described in a press release as “underperforming” — are located in Connecticut, Massachusetts, New Jersey, New York and Rhode Island. According to the grocer, the affected stores will shutter on or before Nov. 2. Associates at the locations will be offered other employment within the company.  “As we announced in May, Stop & Shop has evaluated its overall store portfolio and made the difficult decision to close underperforming stores to create a healthy base for the future growth of our brand,” says Gordon Reid, president of Stop & Shop.  The company has remodeled 190 stores since 2018, and Reid notes that the remodeled stores are performing better than the stores selected for closure. Accordingly, Stop & Shop plans to focus on “growth through price investments and store remodels.” Following the closures, Stop & Shop’s portfolio will comprise more than 350 stores across five states, with 81 stores in Connecticut, 115 in Massachusetts, 47 in New Jersey, 91 in New York and 25 in …

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Addison-Boston
LoansMassachusettsMultifamilyNortheast

Colliers Arranges $62M Loan for Refinancing of East Boston Apartments

by Taylor Williams

BOSTON — Colliers has arranged a $62 million loan for the refinancing of Addison, a 230-unit apartment community in East Boston that was completed in late 2021. The property offers one- and two-bedroom units and amenities such as a pool, fitness center, basketball court, outdoor grilling and dining stations, coworking lounge, industrial kitchen and a maker space equipped with 3D printers, a laser cutter for digital sewing/embroidery machines and art supplies. Jeffrey Black, Bryan Koop, Sean Burke, Kevin Phelan and Matthew Lombardi of Colliers arranged the loan through CrossHarbor Capital Partners. The borrower was a joint venture between Redgate Capital Partners, North River Co. and ELV Associates.

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DevelopmentIndustrialMassachusettsNortheast

Ferguson Enterprises Opens 234,282 SF Warehouse in Taunton, Massachusetts

by Taylor Williams

TAUNTON, MASS. — Ferguson Enterprises, a distributor of plumbing and HVAC supplies, has opened a 234,282-square-foot warehouse in Taunton, a southern suburb of Boston. The facility houses a 5,743-square-foot retail store, 30,000 square feet of offices and training space for employees and a designated pick-up and will-call area. Building features include a clear height of 40 feet, three exterior loading ramps and a floor-to-ceiling racking system. Ware Malcomb designed the project, and Connolly Brothers provided construction management services.

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LoansMassachusettsMultifamilyNortheast

MassHousing Provides $8M in Financing for Mixed-Income Housing Project in Lancaster, Massachusetts

by Taylor Williams

LANCASTER, MASS. — MassHousing has provided $8 million in financing for a 32-unit mixed-income housing project in Lancaster, about 45 miles west of Boston. MCO Cottage Rentals will be situated on an 18-acre site and feature 20 two-bedroom units and 12 three-bedroom units, eight of which will be reserved for households earning 80 percent or less of the area median income. The other 24 units will be rented at market rates. The borrower is MCO & Associates. Completion is slated for October.

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Affordable HousingDevelopmentLoansMassachusettsMultifamilyNortheast

MassDevelopment Provides $17M Bond Financing for Affordable Housing Project in Lowell, Massachusetts

by Taylor Williams

LOWELL, MASS. — MassDevelopment has provided $17 million in tax-exempt bond financing for a 52-unit affordable housing project that will be located north of Boston in Lowell. The site formerly housed a Merrimack Valley Food Bank warehouse that will be demolished, although select areas of the historic façade will be retained and restored. The majority (41) of the units will be reserved for households earning 60 percent or less of the area median income (AMI), with the other 11 to be set aside for renters earning 30 percent or less of AMI. The borrower is an affiliate of Tremont Development Partners. Eastern Bank purchased the bond.

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