$22.5M Permit Pulled for Addition & Renovations to 135 American Legion Highway
Earlier this month a permit valued at $22.5M was pulled for renovations and addition to 135 American Legion Highway in Revere. The project will include the construction of a nearly 10,000 square foot accessory office block, remote restrooms along with the installation of new dock doors and equipment. On the 2nd level of the building, a vehicle access ramp will be added from the first level for parking access and new MEP systems to accommodate parking on this level. In October, the mayor of Revere announced the former Necco Plant will be transformed into an Amazon Delivery Station.
Revere Property Acquired for $355 Million
Clarion Partners has acquired the property at 135 American Legion Highway in Revere, MA for $355 million.
The two-story building consisting of multi-tenant distribution, production, storage, and office space consists of 826,000 square feet and sits on 49.96 acres. The building is to be renovated by Amazon and used for a distribution center. The structure contains a high-bay with a 30-foot clear height and a 14-foot second-floor clear height, 16 overhead dock – high doors with dock levelers, 1 drive-in ramp and overhead door with potential expansion up to 10 new loading docks.
Attached to the building is a 6.4 MW natural gas cogeneration plant, which provides operating power as well as process cooling and heating for the facility.
Seaport District Building Trades for $482 Million
Clarion Partners has acquired ONE Marina Park Drive in Boston's Seaport District for $482 million.
The property features a 522,000 square foot office building that was constructed in 2010 and was the first building erected in the Fan Pier development.
ONE Marina Park Drive is beautifully complemented by a six-acre marina and inviting green spaces. Additionally, the tower is neighbored by two luxury condominium towers, 50 Liberty and Twenty Two Liberty, and sits adjacent to Eleven Fan Pier Boulevard and Fifty Northern Avenue.
Necco Plant to Become Amazon Delivery Station
Amazon is taking over a vacant space in Revere once occupied by the Necco candy company. Revere Mayor Brian Arrigo announced Thursday that an Amazon delivery station serving Greater Boston will begin operations next year.
The Necco plant shut down unexpectedly in July 2018, costing 230 workers their jobs. The maker of wafers, sweethearts, and chocolates went out of business after 171 years in the Boston area.
Amazon will renovate the building at 135 American Legion Highway and create hundreds of jobs, according to the mayor.
via CBS Boston
Former NECCO Property Refinanced for $115 Million
The property at 101-135 American Legion Highway in Revere has been refinanced via LoanCore Capital for $115 million.
The former home of the NECCO headquarters features a two-story building consisting of multi-tenant distribution, production, storage, and office space consists of 826,000 square feet and sits on 49.96 acres.
Watertown Office Properties Acquired for $157.56 Million
Clarion Partners has acquired the LINX in Watertown and the adjacent property at 480 Arsenal Street for $157.56 million.
The Linx 185,000-square-foot Class A, LEED-certified creative office building now leasing located in Watertown steps from the upcoming Arsenal Yards mixed-use development. LINX Watertown features an open floor plan with high ceilings, extensive outdoor green space and regular shuttle service to Harvard Square.
480 Arsenal Street is located at 480 Arsenal Street in Watertown. The Class B Office building was completed in 2002 and features a total of 141,548 square feet. It sits on a 10.358-acre lot and is currently the headquarters for New England Sports Network (NESN).
Class A industrial development breaks ground in Bellingham, MA off of I-495Campanelli and Clarion Partners have broken ground on Campanelli Business Park of Bellingham, a Class A, two-building industrial development encompassing 427,500 square feet located along Interstate 495 in Bellingham, MA. Two 127,500-square-foot and 300,000-square-foot buildings will be constructed, with completion expected by August 2018. JLL’s industrial team of Richard Schuhwek and Edward Jarosz will handle leasing of Campanelli Business Park of Bellingham upon the project’s completion. “The Business Park of Bellingham is perfectly positioned to capture the increasing tenant demand being driven by the rise in e-commerce activity,” said Jarosz in a prepared statement. “The development offers outstanding highway access and visibility via Interstate 495, paired with state-of-the-art design features ideally suited to meet the requirements of today’s modern industrial user. These will be the best two Industrial facilities in the market when completed.” Campanelli Business Park of Bellingham will be located under one hour from Boston by car, and a short drive from Providence, RI.
Jamestown sells Kendall Square tower to Clarion Partners for $311.25 million
Last Thursday (September 15th,
2016), Jamestown sold 245 First, a 298,000 square foot Kendall Square lab and creative office campus, for $311.25 million to Clarion Partners of New York City as recorded in the Middlesex South Registry of Deeds. The sale amounts to approximately $1,045 per square foot. 245 First includes 245 First Street, an 18-story tower with a ten-story Class A office building situated above an eight-story, 351-space structured parking garage, as well as Cambridge Science Center, a six-story building with state-of-the-art life science space. Jamestown acquired 245 First in December 2013 for $192.6 million from Equity Office, whose affiliate Beacon Properties acquired the property in November 1996 for $45 million.
Tenants at 245 First include Akebia Theraputics, who has leased approximately 40,000 square feet through August 2026 with an option to renew, The Forsyth Instutute, who has leased approximately 73,000 square feet through July 2024 with an option to renew, Horizon CombinatoRx, who has leased approximately 63,000 square feet through January 2017 with an option to renew, and Massachusetts Institute of Technology (MIT), who has leased approximately 20,000 square feet through December 2024 with an option to renew.
The following is the deed for Clarion Partners' acquisition of 245 First: