Massachusetts

Davis, Boston Development Break Ground on 224,000 SF Life Sciences Project in Metro Boston

by Taylor Williams August 25, 2021

WATERTOWN, MASS. — Two locally based firms, The Davis Cos. and Boston Development Group, have broken ground on a 224,000-square-foot life sciences project in the western Boston suburb of Watertown. Designed by Elkus Manfredi Architects, the project marks Phase I of a larger campus that will ultimately include 450,000 square feet of space across two buildings. The first building will offer six private tenant spaces and amenities such as a fitness center, bike storage room and retail/café space. Completion is slated for mid-2023.

August 25, 2021

Acquisitions Massachusetts Northeast Retail

Marcus & Millichap Brokers $19.5M Sale of Shopping Center in Lynnfield, Massachusetts

by Taylor Williams August 24, 2021

LYNNFIELD, MASS. — Marcus & Millichap has brokered the $19.5 million sale of a 64,056-square-foot shopping center in Lynnfield, a northern suburb of Boston. The property consists of three buildings, including one that was built in 1991, remodeled in 2019 and is occupied by Christmas Tree Shops, as well as two others that were completed in 2018. Other tenants include Yankee Candle, Meraki Spa, Starbucks and East Boston Savings Bank. Glen Kunofsky, Josh Kanter and Anthony D’Ambrosia of Marcus & Millichap brokered the deal. The buyer and seller were not disclosed.

August 24, 2021

Industrial Leasing Activity Massachusetts Northeast

Metrie Signs 121,623 SF Industrial Lease Expansion in Northborough, Massachusetts

by Taylor Williams August 24, 2021

NORTHBOROUGH, MASS. — Metrie, a manufacturer and distributor of interior finishings, has signed a 121,623-square-foot industrial lease expansion at 301 Bartlett St. in Northborough, located in Worcester County. Bill Sullivan, Jon Pezzoni and Matt Walker of Avison Young represented the tenant, which originally occupied 58,123 square feet before expanding by an additional 65,000 square feet, in the lease negotiations. Colliers International represented the undisclosed landlord. Metrie will take occupancy of its expanded space in October.

August 24, 2021

Acquisitions Massachusetts Northeast Retail

Marcus & Millichap Brokers Sale of 85,199 SF Shopping Center in Carver, Massachusetts

by Taylor Williams August 23, 2021

CARVER, MASS. — Marcus & Millichap has brokered the sale of an 85,199-square-foot shopping center in Carver, about 45 miles south of Boston. Grocer Shaw’s anchors the property, which was built in 2005. Other tenants include CVS, Anytime Fitness and Jamie’s Fine Wine & Spirits. Glen Kunofsky, Josh Kanter and Anthony D’Ambrosia of Marcus & Millichap brokered the deal. The buyer and seller were not disclosed.

August 23, 2021

Healthcare Massachusetts Northeast

Newmark Secures Recapitalization of 200,000 SF Medical Office Portfolio in Northeast

by Taylor Williams August 19, 2021

BOSTON — Newmark has secured the recapitalization of a portfolio of six medical office buildings totaling approximately 200,000 square feet that are located throughout various markets in New England and the Mid-Atlantic. Ben Appel, Michael Greeley, Jay Miele and John Nero of Newmark procured an undisclosed institutional equity partner for owner Aspect Health. The new joint venture also plans to develop more healthcare facilities in these regions.

August 19, 2021

Acquisitions Massachusetts Northeast Office Retail

Quaker Lane Capital, Alcion Ventures Buy 63,000 SF Office, Retail Building in Boston

by Taylor Williams August 19, 2021

BOSTON — A partnership between investment firm Quaker Lane Capital and Boston-based private equity group Alcion Ventures has purchased a 63,000-square-foot boutique office and retail building located at 110 Canal St. within Boston’s North Station submarket. The building features exposed brick walls, lofty ceilings and open floor plates. CBRE has been tapped to market the property to creative office users.

August 19, 2021

Industrial Loans Massachusetts Northeast

Axiom Capital Arranges $10M Loan for Refinancing of Cold Storage Facility in Avon, Massachusetts

by Taylor Williams August 19, 2021

AVON, MASS. — Axiom Capital Corp. has arranged a $10 million loan for the refinancing of a cold storage facility in Avon, located south of Boston. Built in 1988 and renovated between 2009 and 2012, the property features a clear height of 30 to 32 feet, 25 dock doors and 5.3 million cubic feet of storage space. An undisclosed life insurance company provided the seven-year, fixed-rate loan to the borrower, an undisclosed private owner/developer. The property has been leased to a global cold storage operator since 2013.

August 19, 2021

Loans Massachusetts Multifamily Northeast

MMCC Places $5M Loan for Refinancing of Metro Boston Apartments

by Taylor Williams August 17, 2021

REVERE, MASS. — Marcus & Millichap Capital Corp. (MMCC) has placed a $5 million loan for the refinancing of a 30-unit apartment building in Revere, a northeastern suburb of Boston. Robert Damigella of MMCC arranged the 20-year loan, which carried a fixed interest rate and a 30-year amortization schedule, on behalf of the undisclosed borrower. The direct lender was also not disclosed.

August 17, 2021

Acquisitions Massachusetts Northeast Retail

Horvath & Tremblay Negotiates $7.2M Sale of Grocery-Anchored Retail Center in Wareham, Massachusetts

by Taylor Williams August 10, 2021

WAREHAM, MASS. — Horvath & Tremblay, a national brokerage firm based in metro Boston, has negotiated the $7.2 million sale of Wareham Marketplace, a 35,247-square-foot retail center located about 70 miles south of Boston. German discount grocer Aldi anchors the newly constructed property. Other tenants include Dollar Tree, AutoZone, Wendy’s and Mattress Firm. The pad sites occupied by the latter three tenants were not part of the sale and are being marketed separately. Bob Horvath and Todd Tremblay of Horvath & Tremblay represented the seller and procured the buyer in the deal.

August 10, 2021

Loans Massachusetts Multifamily New Jersey Northeast

PGIM Real Estate Provides $178M Refinancing for National Manufactured Housing Portfolio

by Taylor Williams August 6, 2021

NEWARK, N.J. — PGIM Real Estate, the real estate investment and financing business of PGIM, has provided $178 million in fixed-rate debt for the refinancing of a national portfolio of five manufactured housing communities. The properties total 1,731 sites and are located in Massachusetts, New Jersey, Illinois and Florida. Amenities of the portfolio, which was 99 percent occupied at the time of the loan closing, include pools, fitness centers, putting greens, clubhouses, bocce ball courts and dog parks. In addition, four of the five properties feature age restrictions. The borrower was Chicago-based Hometown America. Bellwether Enterprise arranged the debt.

August 6, 2021

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