Massachusetts

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.

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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.

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Carver-Shopping-Center

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.

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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.

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110-Canal-Street-Boston

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.

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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.

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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.

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Wareham-Marketplace

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.

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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.

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Bellingham-Distribution-Center

BELLINGHAM, MASS. — Restaurant equipment and foodservices supplier TriMark USA LLC has signed a 345,000-square-foot, full-building industrial lease at Bellingham Distribution Center, located about 40 miles southwest of Boston. Dallas-based Lincoln Property Co. developed the building, which features a clear height of 36 feet, 130-foot truck court depths and 227 car parking spaces, in partnership with global investment manager Barings. Ed Jarosz and Rick Schuhwerk of Newmark represented the tenant in the lease negotiations. Ellison Patten and James Tambone of Lincoln Property Co. represented the landlord on an internal basis.

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