CIM Group is a premier full service urban real estate and infrastructure fund manager with approximately $18.8 billion of assets under management. Since its founding in 1994, CIM has been a process- and research-driven investor that mitigates risk through the fundamental analysis of the long-term drivers in communities. CIM® is a relative value investor that systematically targets investments that are priced below their long-term intrinsic value. Over time, CIM has delivered a strong risk-adjusted track record of returns by relying on its vertically-integrated team, investment discipline, and sourcing capabilities.
Mar 06, 2020
Steel Framing Ongoing for 321 Harrison Ave
Steel framing is ongoing for the 8-story addition being added to the parking garage at 321 Harrison Ave. The new building will feature 232,500 square feet of Class A office space along with numerous tenant amenities including a fitness center, roof terrace, and 4,000 square foot "living room". The existing lobby that connects the garage with neighboring 1000 Washington St. will also be reconfigured and renovated to serve both buildings.
Jan 05, 2020
Core Rising at 321 Harrison Ave. In The South End
The concrete core is rising and steel framing is also underway for the 8-story addition being added to the existing parking garage at 321 Harrison Ave. in the South End. The new building will feature 232,500 square feet of Class A office space. The existing lobby that connects the garage with neighboring 1000 Washington St. will also be reconfigured and renovated to serve both buildings.
Nov 15, 2019
Tower Crane in Place for 321 Harrison Ave. Addition and Renovations
A tower crane is now in place at 321 Harrison Avenue for the addition and renovations to the Class A office project. An 8-story office building is being built on top of the existing 3-story parking garage. The existing lobby that connects 1000 Washington Street and the garage will be reconfigured to create a shared lobby for the two buildings.
Nov 08, 2019
$3.9M Permit Issued for Interior Renovations at 95 Berkeley St.
A permit valued at $3.9M has been pulled for interior renovations at 95 Berkeley Street. The project will transform all 6 floors of the building, around 91,750 square feet into Class A office space. A common stairway will also be added between the 5th and 6th floors of the building along with a fitness center. The building was acquired by CIM Group and Center Court Mass, LLC in 2016 for $43,000,000.
Oct 18, 2019
Motor Mart Garage Tower Approved by BPDA
The proposed 310 foot, 28-story tower that will sit atop the redeveloped Motor Mart Garage has been approved by the BPDA. The project will include 231 condo units, a mix of studios through 3 bedrooms, some planned as loft-style spaces in parts of what is now the garage. The project will also feature 46,000 square feet of commercial space with plans for 15,000 of that to include a grocery store. Parking on-site will be reduced from 1037 spaces to 672. Affordability requirements for the Motor Mart Garage will be met at the planned Tai Tung Village project, just a half-mile away at 288 Harrison Avenue.
Aug 14, 2019
Plumbing Permit Issued for 321 Harrison
A plumbing permit has been issued for the new office tower under construction at 321 Harrison Ave. in the South End. The eight-story, 232,500 square foot addition is being added on top of the existing 300 car garage currently on the site. The existing lobby that connects 1000 Washington Street next door to the garage is also being reconfigured to accommodate the elevator core for the new building, thus connecting both buildings and serving as a shared lobby.
Jul 03, 2019
321 Harrison Refinanced for $164.66 Million
The property at 321 Harrison Street in Boston has been refinanced via Goldman Sachs Bank for $164.66 million.
The eight-story, 232,500 square foot office building is under construction on top of the existing three-story, 300 car garage at 321 Harrison Avenue.
The resulting 11-story building will be approximately 150 feet tall and will feature a new glass curtainwall facade. The Roman numerals III II I (3 2 1) will be incorporated into the curtainwall facing the Massachusetts Turnpike, a nod to the building's address. The existing garage will be retained. Approximately 2,500 square feet of retail or gallery space will be added to the existing garage's street level.
Apr 03, 2019
Work Ongoing in Garage for Addition at 321 Harrison Avenue
Construction is ongoing on the lower levels of the garage at 1000 Washington Street to allow for the addition of an 8 story office tower on top of the garage. The new tower will include around 216,000 square feet of office space in this busy South End location. The project also calls for a new lobby to connect 1000 Washington with 321 Harrison Avenue.
Mar 26, 2019
Motor Mart Garage Under Official Review
The proposed redevelopment of Motor Mart Garage by CIM Group and Boston Global Investors is under official review.
The plans call for a 20 story tower to rise out of the existing building (for a total of 28 stories). In total approximately 390 residential units (apartments and condos) would be created, ranging in size from studios to three bedrooms. 672 of the current 1037 parking spaces will be retained and around 46,000 square feet of retail space will be renovated.
Jan 18, 2019
435 Unit Kilmarnock Street Development Approved
BPDA has approved Cabot, Cabot & Forbes project at 60 Kilmarnock Street in the Fenway. The two-building development will feature 435 residential units, 37 of which will be affordable, along with ground floor retail and a new space for the K Street Clubhouse. The project, covers 60, 67-75, 70-80 Kilmarnock Street and 59-75 Queensberry Street. The design also calls for 250 parking spaces and several green and amenity spaces for residents. The development team has also agreed to contribute $6 million to affordable housing in Boston.
Oct 23, 2018
Demo Permit Application Filed for Kilmarnock Street Development
Cabot, Cabot, & Forbes has filed an application with the Boston Landmark's Commission for the demolition of two commercial buildings and two garages 60, 67-75, and 70-80 Kilmarnock Street and 59-75 Queensbury Street. The demo will make way for the proposed new mixed-use development to include around 443 residential units in two buildings. The proposed project will also include 250 below-grade and surface parking spaces.
Sep 12, 2018
$250 Million Development of Motor Mart Garage
CIM Group and Boston Global Investors have submitted a detailed project notification for the redevelopment of the Motor Mart Garage. The plans call for a 20 story tower to rise out of the existing building (for a total of 28 stories). In total approximately 390 residential units (apartments and condos) would be created, ranging in size from studios to three bedrooms. 672 of the current 1037 parking spaces will be retained and around 46,000 square feet of retail space will be renovated.
John Hynes of BGI tells BLDUP the team expects to start construction in October of this year with an anticipated completion in May 2022.
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