MEDWAY, MASS. — R.W. Holmes Realty has brokered the sale of an industrial and warehouse building located at 7 Industrial Park Road in Medway. Industrial Park Realty acquired the building from Riverside Properties for $4.6 million. MicroGroup, a medical device component manufacturer, occupies the entire 77,253-square-foot building. John Eysenbach of R.W. Holmes represented the buyer and seller in the deal.
WALTHAM, MASS. — Colliers International has secured $40.4 million in permanent leasehold financing for 60 Tower Road, a 120,000-square-foot creative office property located at the 1265 Main project in Waltham. The borrower is a joint venture between 1265 Main Street LLC and a wholly owned subsidiary of Boston Properties LP. Jeff Black and Kevin Phelan of Colliers arranged the 15-year, fixed-rate loan with Sun Life Assurance Company of Canada for the borrower. The LEED Gold-certified building serves as the corporate U.S. headquarters of Clarks Americas, a subsidiary of C&J Clark International.
NEW YORK CITY — Brooklyn Standard Properties has purchased a four-building mixed-use portfolio for $16.5 million. Fordham Apartments LLC sold the 56,836-square-foot portfolio that offers a total of 74 apartments, three retail spaces, office space and a 12-car parking lot. The portfolio includes a five-story, 22-unit building at 615 E. 189th St.; two four-story buildings at 2476 and 2483-2489 Cambreleng Ave. totaling 38 units; and a five-story, 14-unit mixed-use building at 2470 Belmont Ave. Aaron Jungreis of Rosewood Realty Group represented the buyer and seller in the deal.
PHILADELPHIA — J.G. Petrucci Co. has received a $25 million loan for The Station at Manayunk, a multifamily property located at 1 Parker Road in Philadelphia’s Manayunk neighborhood. Jon Mikula of HFF arranged the 15-year loan with Principal Real Estate Investors. Loan proceeds were used to refinance the construction loan on the property. Completed in 2014, the property features 149 units with open-concept floor plans, nine-foot ceilings, walk-in closets, private patios or balconies, washers and dryers, faux wood flooring and gourmet kitchens. Community amenities include a fitness center, bike share program and outdoor spaces with grilling stations.
MAHWAH, N.J. — NAI James E. Hanson has brokered the sale of an industrial building located at 211 Island Road in Mahwah. 211 Island Road Associates LP sold the 108,237-square-foot building to Mahwah 2016 LLC for an undisclosed price. The buyer will relocate and expand its current Rockland County, N.J.-based business to 32,547 square feet of space at the property. Kenneth Lundberg and Patrick Lennon of NAI James E. Hanson represented the seller in the deal.
LEOMINSTER, MASS. — The Stubblebine Co./CORFAC International has arranged the sale of a 227,422-square-foot industrial building located at 175 Pioneer Drive in Leominister. Star Realty sold the property to F&M Plastics for $5.1 million. David Stubblebine and James Stubblebine of The Stubblebine Co./CORFAC represented the seller, while Andrew Sacher of AIS Development represented the buyer in the transaction.
CAMBRIDGE, MASS. — The Davis Cos. has started construction on The Alewife Research Center, a transit-oriented lab building located at 45 Cambridgepark Drive in Cambridge. Slated for completion in summer 2018, the 223,000-square-foot building will feature ground-floor retail space and is adjacent to the Alewife Subway Station. The facility will offer highly flexible lab and R&D space, an employee lounge, conference meeting area, a fitness center with showers and lockers, and a bike room with secure storage. Project members include Spagnolo Gisness & Associates as architect, AHA Consulting Engineers and John Moriarty & Associates.
STAMFORD, CONN. — Paredim Partners has acquired Parallel 41 Apartments, a multifamily property located in Stamford, for $33.3 million. The property was nearly 100 percent occupied at the time of acquisition. The property features 124 apartments, a fitness center, lounge and roof deck. The buyer plans to implement a renovation and rebranding program for the property, which was built in 2012. The name of the seller was not released.
DANVERS, MASS. — HFF has arranged the sale of Tower at Northwoods, an office building located at 222 Rosewood Drive in Danvers, a suburb of Boston. LNR Partners sold the 180,000-square-foot property to an undisclosed buyer for $18 million. At the time of sale, the 11-story building was 90.8 percent leased. Tenants include Copyright Clearance, MetLife and Royal Bank of Canada. Chris Phaneuf and Patrick McAneny of HFF, along with Dustin Smith of LNR, represented the seller in the deal. Additionally, Brett Paulsrud of HFF secured a 10-year, fixed-rate acquisition loan through East Boston Savings Bank for the buyer.
CAMBRIDGE, MASS. — Oxford Properties Group and Alony Hetz Properties & Investments have purchased The Davenport Building, an office building located at 25 First St. in Cambridge, for an undisclosed price. At the time of sale, the four-story, 220,000-square-foot building was fully leased. Oxford Properties Group will manage the property. The name of the seller was not released.
