BOSTON — San Francisco-based DivcoWest has acquired an 11-story, 147,751-square-foot office building located in Boston's Beacon Hill neighborhood. The property is located at 9-11 Beacon St. The seller in the off-market transaction was locally based Nathan R. Miller Properties. Joe Previte of Independence Realty and Christina Tiemann of CBNRT arranged the deal. Frank Petz of Richards Barry Joyce & Partners arranged equity financing. DivcoWest completed the purchase on behalf of its Market Street Capital Partners Fund.
HUDSON, MASS. — A subsidiary of K&L Realty has acquired an office/R&D property located in Hudson for $3.87 million. The two-story, 147,000-square-foot building is situated on 18.4 acres at 2 Cabot Road. K&L plans to upgrade the building's lobby and HVAC system as well as rebrand the property as Cabot Woods. Garry Holmes of R.W. Holmes Realty Co. represented K&L in the purchase. Holmes, along with Bill Sullivan and Craig Johnston of R.W. Holmes, will lease the property's vacant 110,000 square feet. Jim Thompson and Doug Jacoby of Newmark Knight Frank represented the seller, NB MS Cabot LLC.
LEXINGTON, MASS. — CB Richard Ellis (CBRE) has brokered the sale of a 40,800-square-foot office building located at 101 Hartwell Ave. in Lexington. The property was vacant at the time of closing. The buyer, King Street Properties, plans to convert the building into a speculative laboratory property, which will be complete by January. CBRE's Patrick Cavanagh and Gary Lemire represented the seller, AMB Property Corp. Cavanagh and Lemire teamed with Mike Ripp and Rob Kinlin, also of CBRE, to secure the buyer.
FRAMINGHAM, MASS. — Cushman & Wakefield has completed the sale of a 25,000-square-foot retail property located in Framingham for $4.25 million. Savers is the current tenant of the property and is occupying it under a 12-year lease it signed last year. Robert Griffin, Jr., and Geoffrey Millerd of Cushman & Wakefield’s Capital Markets Group represented the seller, Commonwealth Center Associates, and procured the buyer, The Bulfinch Companies.
ACTON, MASS. — The Stubbledine Company / CORFAC International has brokered the sale of an office building located at 45 Nagog Park in Acton for $2 million. The buyer, River of Life Christian Church of Boston, plans to use the building as a worship center. Ellen Garthoff of Stubbledine represented the buyer. Tamie Thomson and Tyler Spring of Jones Lang LaSalle represented the seller, Nagog Park LLC.
PEABODY, MASS. — North Shore Plastic Surgery has acquired a 13,400-square-foot office building located in Peabody for $1.6 million. The new building, which is located at 7 First Ave., is replacing its current facility located at 4 Centennial Drive. Klemmer Associates was the sole broker in the transaction.
BURLINGTON, VT. — B.R.P. LLC has acquired the Daniel Kern House in Burlington for an undisclosed amount. The building, which is located at 70 S. Winooski Ave., contains 8,500 square feet of Class A office and retail space. Duncan Harris of Redstone represented the buyer. Jed Dousevicz of VT Commercial represented the seller, David Schueur and Retrovest Associates.
NEW YORK CITY — Kalmon Dolgin Affiliates (KDA) has brokered the sale of a the former PS 59 at 535 Leonard St. in Brooklyn for $2.3 million. The buyer, MDIM LLC, plans to redevelop the two-story, 13,500-square-foot building into an 18-unit condominium project. KDA’s Joseph Nicholas represented the MDIM as well as the seller, Polish Legion of American Veterans – George Washington Post #3.
WHITE PLAINS, N.Y. — Houihan-Parnes Realtors has secured a $2 million first mortgage for a four-story office building located at 12 Water St. in White Plains. Con Edison is currently leasing the building. It is performing an environmental clean-up of the site. The terms of the loan and the parties involved were not disclosed.
BOSTON — Boston-based Eaglebridge Capital has arranged $7.45 million in construction and permanent financing for three new industrial buildings under construction in Massachusetts. The first project is the new 20,000-square-foot headquarters for Tool Technology, which is located within Riverview Industrial Park in Middleton. The second project is a 20,000-square-foot distribution facility located within Campanelli Business Park in Middleborough. The third project is a 31,000-square-foot distribution facility located within Westover Air Park in Chicopee. Eaglebridge’s Ted Sidel and Brian Sheehan arranged the loans through three different regional banks.