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Aug 13, 2019
Barlows Building in Fort Point Sells for $18 Million
Akelius has acquired the property at 241 A Street in Boston's Fort Point neighborhood for $18 million.
The 26,400 square foot property is 100% leased to a mix of office tenants anchored by Barlow’s, a full-service bar and restaurant on the ground floor and lower level. The building was last sold in 2008 for $3.5 million.
Jun 24, 2019
Charlestown Industrial Property Sells for $10.05 Million
The property at 8 Bunker Hill Industrial Park has sold to DLJ Real Estate Capital Partners for $10.05 million.
The property features an industrial warehouse in Boston’s urban neighborhood of Charlestown. 8 Bunker Hill Industrial Park is a 9,600 square foot building that sits on 1.17 acres of land.
Jun 12, 2019
FPA Acquires Westborough Apartment Complex
FPA Multifamily has acquired the Fountainhead Apartments located at 297 Turnpike Road in Westborough, MA for $130 million.
Fountainhead Apartments is a 562-unit 100 percent market-rate apartment community spread throughout three eight-story buildings totaling 644,889 square feet. The buildings are located on a parcel of over 20-acres in Westborough, MA.
May 22, 2019
711 Atlantic Ave Sells for $68.5 Million
The property at 711 Atlantic Ave has been acquired by Asset Preservation, Inc. for $68.5 million.
711 Atlantic Avenue is a 99,200 square foot brick and beam building featuring high ceilings and abundant natural light, conveniently located across from the South Street Station, Boston’s major transit hub.
The property offers brick and beam office space featuring exposed ceilings with the convenience of new building systems and interiors. The building's elevators have recently been replaced, lobby and common areas upgraded, and former basement space recaptured and developed into leasable office space.
May 09, 2019
Innovation Point Acquired for $252 Million
Alexandria Real Estate Equities has acquired the property at Innovation Point in Boston, MA for $252,000,100 from GE and MassDevelopment.
The parcel consists of two historic six-story brick Boston Wharf Company warehouse buildings at 5 and 6 Necco Street and a section of the existing Gillette parking lot. Designed by Gensler, GE's approximately 2.5-acre, 390,000 square foot campus will restore the existing warehouses. Approximately 1.5 acres of public space will be constructed at Innovation Point, including a Harborwalk extension. The campus will also include a coffee bar and waterfront restaurant space on the ground floor.
May 07, 2019
Washington Capital Retains Tocci For Union Point
Rendering courtesy of Elkus Manfredi Architects
Washington Capital Management, Inc., on behalf of one or more investment management clients, has retained Tocci Building Corporation to provide development support services for Union Point. The property is the 1400 acre redevelopment of the South Weymouth Naval Air Station formerly known as Southfield. Tocci will assist Washington Capital with land use documentation and selection of a new Master Developer. Services include liaison with the Southfield Redevelopment Authority and landowner responsibilities. Tocci was the former Program Manager for Union Point through 2017 and provided a broad range of planning and construction services.
Apr 24, 2019
North End Mixed Use Building Sold for $8.5 Million
The property at 240-250 Commercial Street in Boston's North End has sold to the Lupoli Companies for $8.5 million.
240-250 Commercial Street is a centrally located building in the North End neighborhood of Boston. The 22,331 square foot structure, is currently home to Billy Tse restaurant with office tenants on the upper floors.
Feb 22, 2019
LStar Communities to be Removed from Union Point Development
The board overseeing the redevelopment of the former South Weymouth Naval Air Station is putting the project’s master developer on notice of default for failing to attract development, provide necessary infrastructure and meet its financial obligations.
The Southfield Redevelopment Authority’s board of directors on Wednesday determined that LStar has breached the terms of the disposition and development agreement. The board voted unanimously to have Paul Niedzwiecki, executive director of the SouthField Redevelopment Authority, notify the company that it is in default.
“We don’t take this action lightly because it is a big deal, and it’s not a place we wanted to go,” said Lyndsey Kruzer, chairwoman of the authority’s board of directors.
LStar will have at least 30 days to address the deficiencies, after which the board will decide whether to take further action. That could include terminating the master developer agreement, Kruzer said.
The default notice results from mounting legal and financial challenges facing the developer behind the massive redevelopment project, which includes land in Weymouth, Rockland, and Abington.
via The Patriot Ledger
Feb 20, 2019
Calare Properties Acquires Framingham Property for $3.28 Million
Calare Properties has acquired the office building at 30 Speen Street in Framingham, MA for $3,283,500.
The property features a 40,536 square foot office building and is positioned with with direct visibility (136,503 cars/day) along Interstate 90 (Massachusetts Turnpike). The building offers unparalleled signage opportunities as well as excellent access to the region’s major highway systems.
Feb 11, 2019
Renovation Moves Forward at Innovation Point as GE Scraps Plans for New Tower
Renovations of two historic buildings in Fort Point continue as GE announces it will scrap plans for the second phase of the project, a new 12-story tower. Instead of the original 800 person campus, GE’s headquarters now will have about 250 employees in the two refurbished buildings. GE plans to lease the buildings, after selling them and the adjacent land for the tower jointly with the state to recoup the $25 million tax incentive received from the city.
At the site currently, structural steel for the glass enclosure connecting the two buildings has been erected and window install is ongoing. The crane on site is supporting the erection of the structural steel for the roof and the new 6th floor on the west building. Rough-in of interior walls and interior masonry restoration is also underway in both buildings. Construction is set to be complete by the middle of this year.
Dec 20, 2018
Exterior Work Ongoing for 50 Staniford Street Expansion
Exterior work including glass panel install is ongoing for the 19,500 sf addition to the medical building at 50 Staniford Street. The project will reposition the building's three entries, add retail space, and renovate the lobby. Construction is expected to be complete in the first quarter of 2019.
Oct 29, 2018
Zinc Apartments Refinanced for $120.2 Million
The Zinc Apartments in Cambridge have been refinanced for $120.2 million via CBRE Capital Markets.
Zinc is a pet-friendly luxury apartment community featuring 392 units contained in a 411,106 square foot building. The 15 story structure was built in 2014 and has many upscale amenities.
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