WESTFORD, MASS. — Colliers International has arranged an $18.6 million loan to refinance The Michelson Farm – Westford Technology Park, Buildings 5 and 8 in Westford. The buildings are located at 7 and 9 Technology Park Drive and total 230,000 square feet. John Broderick negotiated the long-term loan on behalf of the borrower, The Gutierrez Co., which developed the property in 1996. Blue Hills Bank provided the loan.
LIMERICK, PA. — MVD Entertainment has purchased a 30,000-square-foot warehouse and office property at 203 Windsor Road in Limerick. The audio visual distribution business is relocating from Oaks, Pa. The property is located inside the Limerick Airport Business Center and offers quick access to Route 422. Neil Shupak and Justin Bell of Newmark Knight Frank Smith Mack represented the buyer in the transaction. MVD plans to move into the space in January.
BOSTON — Jocote LLC has acquired two Boston apartment buildings for $6.9 million. The properties are located in the Kenmore Square area of the city at 41 and 43 Bay State Road. The brownstone buildings, constructed between 1891 and 1892, each feature views of the Charles River. Carl Christie and Dan McGee of NAI Hunneman represented the seller, Tosi LP, in the transaction. They also procured the buyer.
CHELMSFORD, MASS. — Kronos Inc. has renewed its lease for 81,760 square feet at 4 Omni Way in Chelmsford for an additional five years. Kronos specializes in workforce management solutions. Completed in 1985, 4 Omni Way is a two-story office and research and development facility on eight acres of land northwest of Boston. Krosno's total square footage of its campus is 322,000 square feet spread across multiple buildings. John Boyle and Michael Dalton of Cassidy Turley FHO represented Kronos in the transaction. The landlord, Direct Invest, was self-represented by Bill Rand and Peter Evans.
BROCKPORT, N.Y. — Calkain Cos. has arranged the $3.7 million sale of a 22,500-square-foot Tractor Supply store in Brockport. Tractor Supply is leasing the property on a long-term, triple-net basis. Andrew Fallon of Calkain Cos. represented the seller, a real estate investor and developer, in the transaction. The buyer is a private investor based in New York.
QUINCY, MASS. — Beal/Street-Works has unveiled construction plans for the first phase of Quincy's historic $1.6 billion Quincy Center, which is scheduled to break ground in 2013. The $120 million first phase includes a 15-story luxury apartment building and five-story residential building featuring loft-style units. The design also includes a new pedestrian-friendly promenade behind the existing Granite Trust building. In total, the plan includes about 30,000 square feet of retail space. The first stage of construction is slated for completion in late 2013. The city's planning board will review the construction drawings to ensure the plans meet the downtown guidelines and hold a public hearing. No date has been set.
BOSTON — Trinity Stuart LLC, a local development partnership, has announced plans for the redevelopment of the existing Boston Common Hotel and Conference Center. The project includes replacing the existing structure with a 33-story, mixed-use building. The new property will be comprised of a 220-room hotel and 142 apartment units that will range in size from compact studios to three-bedroom units. Plans for the lower level call for two restaurants and 100 parking spaces. Suffolk Construction is the construction manager for the project and The Architectural Team and Stonehill & Taylor Architects are designing the building. Construction is expected to begin in the fall of 2013.
WATERTOWN, MASS. — 480 Biomedical has renewed its lease for 27,311-square-foot laboratory facility at 480 Arsenal St. in Watertown. The company develops bioresorbable scaffold for treating occlusive disease in the superficial femoral artery. 480 Arsenal St. is a 141,000-square-foot lab building located less than five miles from Interstate 90 and the Massachusetts Turnpike. Tucker Hansen and Joe Flaherty of Colliers International represented the tenant in the transaction. The landlord is Alexandria Real Estate Equities.
GREENWICH, CONN. — HFF has arranged $96 million in financing for Greenwich Place and Greenwich Oaks, two multifamily communities totaling 396 units in Greenwich. The borrower is LCOR. Jon Mikula and Jim Cadranell led the HFF team that negotiated the two fixed-rate loans through Allianz Real Estate of America. Greenwich Place and Greenwich Oaks are two miles apart near Interstate 95, about 35 miles north of New York City. Amenities at each property include a clubhouse, heated pool and fitness center.
PISCATAWAY, N.J. — KMM Telecommunications has signed a long-term sublease agreement for 195,555 square feet of warehouse space at 21 Constitution Ave. in Piscataway. KMM provides supply chain services to the communications industry. Frank Truesdell, Joel Lubin and Brian Cass of Jones Lang LaSalle represented the property's sub-landlord, Verizon New Jersey Inc. KMM was represented in-house by John Campanelli of Jones Lang LaSalle. Developed to Verizon's specifications in 2004, 21 Constitution Ave. totals 288,115 square feet.