ANDOVER, MASS. — Physical Sciences Inc., a research and development firm, has signed a 65,000-square-foot lease renewal at the New England Business Center in Andover. Physical Sciences fully occupies Building 20, which includes 49,000 square feet of office space and 16,000 square feet of laboratory space. Michael Dalton of Cassidy Turley FHO's Boston office represented the tenant in the transaction. Kerry Hawkins and Andrew Majewski of CBRE's Boston office represented the landlord, New Boston Fund Inc.
BOSTON — New York-based Shire Real Estate has purchased 961 Commonwealth Ave. in Boston for $4.3 million. The 15,000-square-foot property includes retail and research and development/laboratory space. Tenants include Qdoba Mexican Grill and Brigham & Woman's Hospital Inc. Bradford Spencer of Grubb & Ellis represented the seller, Commonwealth Avenue Realty Trust, in the transaction.
WATCHUNG, NORTH PLAINSFIELD, N.J. — Windsor at Crystal Ridge, a Class A apartment complex in Watchung and North Plainfield has sold for $63 million. The 334-unit complex is located on 25 acres at 1 Crystal Ridge Dr. of Route 22. The property has 15 three-story buildings with one-, two- and three-bedroom units. Amenities include a clubhouse, fitness center and indoor basketball court. Jose Cruz, Andrew Scandalios, Kevin O'Hearn, Jeffrey Julien and Steve Simonelli of HFF represented the seller, GID Investment Advisors LLC, in the transaction. They also procured the buyer, AvalonBay Communities.
BOSTON — Suffolk Construction has been selected to build a $21.5 million bioprocessing center at the University of Massachusetts Dartmouth. Located on a four-acre site 10 miles off campus, the 38,000-square-foot facility will serve as an incubator space for small life science companies in Fall River's SouthCoast BioPark. Companies can test their biomanufacturing processes in the facility while paying a monthly rent that is lower than traditional lab space. The facility will include a variety of laboratories such as research, development, training and quality control. The project will also include a warehouse area, lecture rooms and office space. Construction is expected to begin this April. The project is slated for completion in 2013.
NEW YORK CITY — The Watchtower Bible and Tract Society of New York Inc. has sold 161 Columbia Heights, between Clark and Pierrepont streets, for $3 million. Built in 1988, the apartment property contains more than 7,000 square feet. Bob Knakal and Stephen Palmese of Massey Knakal represented the seller and undisclosed buyer in the transaction.
BOSTON — Genzyme Corp., a biotechnology company, has signed an 82,490-square-foot lease renewal at 55 Cambridge Pkwy. in Boston. 55 Cambridge is a 275,000-square-foot, Class A office building, located on the Charles River. Joe Fallon of Cassidy Turley FHO represented the tenant in the transaction. John Miller of Lincoln Property Group represented the landlord, Invesco.
NEW YORK CITY — Pier 1 Imports is opening a new store in the Upper East Side. The home furnishings store signed a 17,5140-square-foot lease at 1110 Third Ave. The store will be Pier 1 Imports' second location in Manhattan. Jerry Welkis of Welco Realty represented the tenant in the transaction. Robert Futterman, Beth Rosen and Jackie Totolo of RKF represented the owner of the retail condominium, The Related Cos.
BOSTON — ARC/Architectural Resources Cambridge has completed the first phase of a renovation at the Tufts University School of Dental Medicine. The full project includes 60,000 square feet of clinic, office and support space in the building, which is located at 1 Kneeland St. in Boston's Chinatown neighborhood. The first phase of the project included 20,000 square feet. The project has received LEED Gold certification from the U.S. Green Building Council.
NEW YORK CITY — Los Angeles-based CIM Group has closed on a transaction giving it a majority stake in a high-rise residential tower and development site in Midtown Manhattan. CIM Group and HFZ plan to co-develop the site, which is located at 303 E. 51st St. The project will include a 32-story tower with 123 residential units. Designed by SLCE Architects, the 273,750-square-foot building will include 9,000 square feet of ground-floor retail space. The property will also contain up to 32 parking spaces.
BRAINTREE, MASS. — Sentient Jet, a charter company, has signed a long-term lease for 20,783 square feet of office space at Braintree Executive Park in Braintree. Sentient is moving from 97 Libbey Parkway in Weymouth, Mass. and occupancy is scheduled for July 1. The company will occupy the entire fourth floor of 100 Grossman Dr., which will serve as its world headquarters. Tom Kent and Sean Lynch of the Boston office of Jones Lang LaSalle represented the owners, The Grossman Cos. and Dinosaur Capital Partners, in the transaction. They also represented the tenant.