South Coast Improvement, Co. completes project at 7-9 Newbury Street
South Coast Improvement Company (SCI), a design-build general contractor serving New England and the Mid-Atlantic states, recently completed a renovation project at 7-9 Newbury Street in Boston, Massachusetts for the building’s landlord, Urban Meritage. The Marion, Mass.-based company began work on the $489,000 project in June and wrapped up in August.
The project consisted of a complete mechanical, electrical and plumbing upgrade to basement, fifth, sixth and seventh floor. This included the installation of new electrical panels on each floor and all new piping through the chase from the basement all the way up to the roof. Additionally, the project included the installation of new HVAC units and rooftop units for all three floors.
“City projects present any number of challenges, particularly one with an aggressive three-month schedule like this one,” said Tom Quinlan, president of South Coast Improvement Company. “Through close coordination with the management company, Urban Meritage, and the tenants in the building, we were able to complete a time-sensitive project while minimizing disruption.”
Client: Urban Meritage
Dollar Volume: $489,000
Square Feet: 10,800
Sector: Commercial Real Estate
Architect: Studio Luz Architects, LTD
Engineers: Allied Consulting Engineering Services, Inc.
About South Coast Improvement (SCI)
Based in Marion, Mass. and with an office in Reading, Pennsylvania, South Coast Improvement Co is a recognized leader in providing building and renovation services to a client base of senior living, healthcare, institutional and retail clients. For more information, please call 508-748-6545 or visit www.southcoastimprovement.com.
Billerica Flex Property Acquired for $9.99 Million
Novaya Real Estate Ventures has acquired the property at 16 Esquire Road in Billerica, MA for $9.99 million.
The property features an institutional quality industrial flex building in Billerica, MA. The property is strategically located in close proximity to I-495/Route 3 Interchange (via Rt. 129 and Treble Cove Rd).
Franklin Industrial Property Acquired for $9.2 Million
Novaya Real Estate Ventures has acquired the property at 38 Forge Parkway in Franklin, MA for $9.2 million.
The property features a single story 79,570 square foot manufacturing facility that was constructed in 2000. The building is located in Franklin, MA and sits on a 24.21-acre parcel directly off route 140.
SGA Envisions Active Setting for XmblySGA, a local architecture firm with offices in Boston and New York envisions Xmbly as an opportunity to fully connect Somerville as a city and to its neighbor, Boston. The master plan of the 9-acre parcel focuses on creating a vibrant mixed-use destination which links East Somerville to the Assembly Row Development, Somerville’s waterfront and the MBTA orange line. The site is organized to accommodate a mix of office, residential, hospitality, entertainment and retail uses to create an active setting for its users.The project is a 1.9 million square foot development of a 9.4-acre Assembly Row parcel largely comprised of surface parking into a mixed-use complex with a hotel, lab, office, residential and retail uses. Xmbly would consist of 814,000 square-feet office/R&D space, 489 housing units, renovation of an existing building with 162,000 square feet of office space, and 21,000 square-feet of retail space.
A look at Xmbly: Somerville's Next Big ProjectCresset Development and Novaya Real Estate Ventures have released renderings for their planned four-phase, 1.9 million square foot development of a 9.4-acre Assembly Row parcel largely comprised of surface parking into a mixed-use complex with a hotel, lab, office, residential and retail uses. Xmbly would consist of 814,000 square-feet office/R&D space, 489 housing units, renovation of an existing building with 162,000 square feet of office space, and 21,000 square-feet of retail space.
Cresset acquires Assembly Row development site for $35 million
Cresset Development has acquired 5 Middlesex Avenue, the site of a proposed 1.9-million-square-foot mixed-use development on which the proponent plans to break ground in 2019, for $35 million. An existing 195,000 square foot office building stands on the property. Cresset plans to complete permitting for the proposed development, which was originally proposed by seller RD Management and would retain the existing building, this year.
The 5 Middlesex Avenue development was a key component of the City of Somerville’s recent submission to Amazon’s headquarters request for proposals (RFP), and would include approximately 1.7 million square feet of office/lab space in addition to residences, retail and hotel rooms. East Boston Savings Bank provided $31 million in mortgage financing towards Cresset’s acquisition of the development site, which is located steps from the recently opened Assembly MBTA Orange Line station and minutes from Interstate 93.
Novaya and UrbanMeritage acquire Newbury Street mixed-use building for $26 million
Novaya Real Estate Ventures and UrbanMeritage have acquired 7-9 Newbury Street, a 15,290-square-foot mixed-use building, for $26 million in cash. The sale amounts to $1,700.46 per building square foot. Seller C. Talanian Realty acquired 7-9 Newbury Street in July 1996 for $4.58 million, or $299.54 per square foot. 7-9 Newbury Street features 11,200 square feet of fully-leased office space, with ground-floor retail anchored by coffee bar Nespresso.
1.9 million square foot development coming to Assembly Row
RD Management has filed an Environmental Notification Form (ENF) with the Executive Office of Energy and Environmental Affairs with new details of a 1.9 million square foot, four-phase mixed-use development project planned for a 9.4-acre Assembly Row parcel largely comprised of surface parking; the following is a link to the filing. Hotel, lab, office, residential and retail uses would be constructed; an existing 195,000 square foot office building would be retained.
RD Management has not yet filed plans with the Somerville Planning Board for the project. Per the ENF filing, RD Management has contracted with a hotel developer who is ready to begin design and construction of Phase 1, a five-story mixed-use building containing a 188-room hotel, 147 residential units and ground-floor retail. Banker & Tradesman reports that RD Management hopes to start construction of Phase 1 in Spring 2017. Additional information about the proposed project can be found above.
Interior and exterior restoration continues to progress at 8 Newbury Street. This most intricate project pays special attention to historic details; the building's historic facade is being fully taken down, restored and rebuilt. 8 Newbury Street will be a standout project on Newbury Street, one of Boston's premier retail districts. The building will feature a mix of office and retail space.