Charlestown Industrial Building Sells for $7.2 Million
Center Court Partners has acquired the property at 6 Bunker Hill Industrial Park in Charlestown for $7.2 million.
6 Bunker Hill is a 21,586 square foot industrial building that boasts 28’ clear height and has immediate access to Rutherford Avenue, Downtown Boston, and I-93, making it extremely functional for today’s industrial tenants.
Interior Finishing Nearly Complete for First Residential Building at Maynard Crossing
Interior finishing is wrapping up for the first residential building at The Vue at Maynard Crossing. The 180 unit project is expected to welcome first residents this summer. Amenities at Vue will include a co-working zone, fitness center, outdoor pool, wine lockers. Units range in size from 642 square feet one bedrooms through 1425 square foot 2 bedroom 2 bath units.
Maynard Crossing will be a mixed-use development to be anchored by Market Basket along with other retail, restaurant, and entertainment options. Along with The Vue, Maynard Crossing will also feature a 143 unit senior independent living facility. The Market Basket is slated to open in the first quarter of 2020.
Abutting Parcels in Southie Sell for $9.05 Million
The property at 428-444 East 3rd Street has sold to Core Investments, Inc. for $9.05 million.
Located in the heart of South Boston the property is comprised of two parcels - 428-432 East 3rd, a 3 story, recently renovated 9-unit apartment building and 444 East 3rd, an 8,764 square foot single-story building situated on an 18,774 square foot site. The United States Post Office (USPS) has occupied the building at 444 East 3rd since 1966 but is currently a tenant at sufferance.
PNF Filed for 1515 Commonwealth Avenue Project
The Davis Companies has filed a project notification form for the proposed 330 unit residential project to replace the vacant medical building at 1515 Commonwealth Avenue. The plans call for a 340,000 square foot building with 40,000 square feet of new green space along Commonwealth Avenue. Units within the building would be a mix of condos and apartments (currently projected as 155 condos & 175 rentals). Around 200 parking spaces would be provided in a partially at-grade and below-grade garage. The tallest portion of the building is 17 stories, located on the northern portion of the Project Site closer to the higher density buildings along Commonwealth Avenue while the remainder of the building will range from six to nine stories.
Letter of Intent Filed for 330 Unit Residential Development at 1515 Commonwealth Avenue
The Davis Companies has filed a letter of intent with the BPDA to demolish the vacant hospital property at 1515 Commonwealth Avenue and build a residential project to contain around 330 units. Per the filing, the project would be between 9 and 16 stories and include approximately 200 parking spaces.
Units would be a mix of condos and rentals (155 condos, 175 rentals). The Davis Companies purchased the site in January 2018 for $15.75 million.
Beverly Development Site Acquired for $3.5 Million
Procopio Construction Company has acquired the development site at 10 Congress Street in Beverly, MA.
The property is a 3.78-acre transit-oriented, waterfront development site located in downtown Beverly, MA. Additionally, the land has approvals and permits in-place (including special permit, ConCom and Chapter 91 license) to build 62 market-rate apartment or condominium units.
Newbury College Hits Market for $40 Million
The property at 129 Fisher Ave in Brookline has been listed by Colliers International for $40 million.
In 1982, the Newbury College acquired the former Cardinal Cushing College and began relocating the school to the current 7.8-acre campus in Brookline, Massachusetts. As the college began physically expanding and acquiring buildings in the surrounding area, the satellite campuses began to consolidate into one centralized college campus.
South Boston Development Site Mortgaged for $69 Million
The newly acquired property at 285 Dorchester Ave in South Boston has been refinanced for $69 million via Santander Bank.
The property was acquired by National Development for $12.5 million on February 27th (2019).
285 Dorchester Avenue features a 2 story 20,838 square foot industrial building located on a 22,181 square foot parcel of land in one of Boston’s most anticipated neighborhoods: Andrew Square.
Newbury College’s 7.8-acre campus hits the market
Newbury College’s campus — 7.8 acres in a prime part of Brookline — is for sale, the broker handling the listing said Thursday.
In December, the financially strapped school said it would close after the spring semester, leading to speculation that the campus in the Fisher Hill neighborhood — including its administrative buildings, classroom space, and dormitories — would soon be put up for sale.
On Thursday, that was made official, with the real estate firm Colliers International named to broker the sale.
It’s not often that a swath of land the size of the campus goes on the market in Brookline, where real estate is at a premium.
“The Brookline address is highly, highly desirable,” said Christopher Sower, Colliers’ senior vice president. “It’s not just land, it’s an existing campus. It’s going to be extremely attractive.”
Sower said an asking price has not been set, but the property has already garnered interest from several parties, which he declined to name.
The town has assembled an advisory committee to look into the possibility of purchasing the campus. Brookline officials could not immediately be reached for comment on Thursday.
Colliers expects to meet with potential buyers in the next few weeks and offer tours of the campus.
The 700-student college owns six properties flanking Fisher Avenue, valued at slightly under $38 million, according to the Brookline assessor’s office.
Sower said Colliers International expects to close the sale in the summer after Newbury graduates its final class. Any deal would require approval from Attorney General Maura Healey because the college is a nonprofit.
A Newbury spokesman, Paul Martin, said the school could not disclose how it might use the sale proceeds. He also said the administration expects the buyer to propose plans for the property that is appropriate for the residential area, which isn’t far from Cleveland Circle and the MBTA’s Green Line. Homes in the vicinity of the campus routinely sell for more than $2 million.
“Obviously, there are some uses the neighborhood would not like to see, so we’d like to be cognizant of that,” Sower said.
via Boston Globe
Downtown Crossing Mixed Use Property Acquired
Premier Capital Partners has acquired the property at 29-35 Temple Place in Downtown Crossing for $19.675 million.
The property features a six-story, 22,360 square foot mixed-use commercial/residential building built in 1899 located on a 4,475 square foot land parcel steps to Boston Common.
Market Basket Supermarket Coming to Maynard Crossing
Capital Group Properties and SRS Real Estate Partners have announced that Market Basket Supermarket will be the anchor grocery store for the Maynard Crossing mixed-use project, slated to open in the first quarter of 2020. The project will also include The Vue at Maynard Crossing, a 180 unit high-end apartment complex developed by, LeCesse Development and a 143 unit upscale senior independent living community developed by Hawthorn Retirement Group.
Maynard Crossing will be a vibrant mixed-use, 306,000 square foot supermarket-anchored development featuring multiple restaurants, retail shops, fitness options, residential and senior living complexes, entertainment, and medical offices. The project is conveniently located at the intersection of Route 27 and Route 117 in Maynard and is easily accessible by Interstate 95, Interstate 495, Route 2 and Route 20.
Maynard Crossing will fill a major void in the market for a true neighborhood shopping center that will serve many towns surrounding Maynard, including Acton, Concord, Sudbury, Wayland, Weston, Marlborough, Stow, and Waltham.
Market Basket’s “More for Your Dollar” reputation was recently recognized by Consumer Checkbook as the top New England Grocer for overall value and quality. The new 70,000 sq. ft. store will include a full-service Butcher Block featuring Certified Angus Beef; and Market’s Kitchen & Café, a prepared food department offering a large variety of freshly made meal solutions, sandwiches, subs, salads, brick oven pizza and exclusive Niji sushi. This location will provide cafe seating, with large screen TV’s, and complimentary Wi-Fi. The store plans to hire 250 new associates.
The development will include outdoor amenities such as a walking path which will connect the project to Maynard High School, Fowler Middle School and Green Meadow Elementary School, as well as a water featured park and dog park open to the public.
“Capital Group Properties is taking an old Digital Equipment site that was previously used as an R&D and manufacturing facility and creating a community center that all can enjoy,” said Peter Montesanto, Principal at SRS Real Estate Partners. SRS is leading the retail leasing for the project.
In the coming weeks, Capital Group Properties and SRS will be announcing additional retailers that will be coming to Maynard Crossing.
Facade Work Underway for DTX 399 Renovation
Facade work is underway to transform 399 Washington Street, DTX 399, from the long-vacant site to prime retail and office space. The 77,000 square foot historic building will be completely renovated, both inside and out while maintaining the original character. The prime location, along Washington Street, in Downtown Crossing, sees over 50,000 pedestrians pass each day.
The project remains on schedule using Touchplan, a construction software that allows developers to plan, implement, and monitor projects in their entirety. The innovative software gives developers the ability to see the full spectrum of their project down to every last detail. Touchplan has let developers keep their projects on or ahead of time leading to lower costs and more efficient construction.