Boston Commercial Real Estate News
CoStar's People of Note (June 9 - 15)
Fri, 14 Jun 2013 3:19AM
This week's People of Note includes the following markets: New York City, Northern New Jersey, St. Louis, Portland, and Tampa. GLOBAL Cushman & Wakefield Names Sant’Albano as Interim CEO, Replacing Rufrano By Paul Norman Cushman & Wakefield has named Carlo Barel di Sant’Albano as the interim CEO replacing Glenn Rufrano. Sant’Albano will continu
Henderson Global Investors Selects JLL To Shop Reading Commons Apts.
Tue, 11 Jun 2013 10:25AM
A Jones Lang LaSalle (NYSE: JLL) Capital Markets team has been selected by property owner Henderson Global Investors to market Reading Commons, a high profile suburban apartment complex, to prospective investors. The 204-unit multi-family property at 7 Archstone Circle in Reading, MA, was built in 2006 and is located approximately 10 miles north of Boston at the intersection of Routes 128 and I-93. The units are 97% occupied and include underground...
Oxford Instruments Inks Renewal Deal In Concord
Tue, 11 Jun 2013 4:31AM
Oxford Instruments signed an 18,901 square-foot renewal at 300 Baker Ave in Concord. The three-story, 409,260 square-foot office building was renovated in 1998 in the Concord/Maynard submarket. J. Duncan Gratton of Cassidy Turley represented the landlord, Normandy Real Estate Partners. David Ross of Cresa represented the tenant, Oxford Instruments PLC.
ABC Commercial Properties Acquires Waltham Office
Tue, 11 Jun 2013 4:03AM
ABC Commercial Properties, Inc. purchased the office building at 159 Overland Rd. in Waltham, MA for $5.425 million, or about $108 per square foot. The four-story, 50,086-square-foot building was constructed in 1989. The asset was not fully occupied at the time of sale. Douglas Jacoby and Scott Dragos of NAI Hunneman Commercial Company represented the seller. James Eacobacci of BRiT Realty represented the buyer. Please see CoStar COMPS...
Boston Properties Renews 54,840-SF John Hancock Tenant
Mon, 10 Jun 2013 10:58AM
In one of the largest second quarter office leases signed in the Boston market, global management consultant Oliver Wyman renewed its lease for 54,840 square feet in Boston Properties' John Hancock Tower at 200 Clarendon St. The 62-story, 1.7 million-square-foot tower in the Back Bay is New England’s tallest building. Boston Properties bought the office tower from a joint venture of Normandy Real Estate Partners and Five Mile Capital Partners affiliates...
CoStar's People of Note (June 2 - 8)
Fri, 07 Jun 2013 4:52AM
This week's People of Note includes the following markets: South Florida, South Bay, New York City, Atlanta, Philadelphia, Texas, and the Southwestern U.S. SOUTH FLORIDA Balish Appointed to President, CEO at ARS By Justin Sumner Adler Realty Services (ARS), a division of Adler Group, has appointed Christopher Balish as president and chief executive officer. In his new role, Balish will be responsible for overseeing a
Hines Starts Construction On First of Two Lux Apt. Projects in Boston
Thu, 06 Jun 2013 12:51PM
Hines kicked off construction on 36 River, a new luxury multifamily complex in Waltham, MA, 10 miles west of downtown Boston. Designed by CUBE3 Studio of Lawrence, MA, 36 River will include 200 'urban-style' residential units located in a four-story building above a two-level parking garage. General Contractor Callahan, Inc. expects occupancy of the first units in November 2014, with final completion in April 2015. Hines said the new development...
AngioDynamics Extends Lease at 26 Forest Street in Marlborough
Thu, 06 Jun 2013 8:59AM
Medical products maker AngioDynamics recently completed a 31,000-square-foot lease extension at Lake Williams Corporate Center, a 125,000-square-foot office complex at 26 Forest Street in Marlborough, MA Cushman & Wakefield’s Stephen Woelfel Jr., J.R. McDonald and Michael Frisoli represented the tenant in the negotiations with building owner Great Point Investors, LLC. AngioDynamics makes minimally invasive catheters and other medical devices...
North River Buys Four-Story Office Bldg. In Somerville
Wed, 05 Jun 2013 9:29AM
Maryland-based Foulger-Pratt recently sold 200 Inner Belt Road in Somerville, MA, to investment group North River for an undisclosed price. The four-story, 186,326-square-foot office building was expected to attract a lot of investor interest as it included a four-acre development site. Located directly off Interstate 93, four miles from downtown Boston, the building is currently 82% leased and features large floor plates with floor load capacities...
In The Pipeline: CoStar Development & Construction News for June 2 - 9
Wed, 05 Jun 2013 6:48AM
Nonresidential Construction Spending Boosted By Private Projects The recovery in private nonresidential construction continued on a slow and steady track this spring according to new data from the U.S. Census Bureau, with construction spending rising in April from the previous month's disappointing number. Total nonresidential spending rose by a modest 0.7% in April to a seasonally adjusted annual rate of $552.45 billion, but remains down 2.1...
Hecht Co. Purchases Flex Property in Shrewsbury
Tue, 04 Jun 2013 3:45AM
Hecht Company, a real estate development and investment firm founded by Kenneth W. Hecht, recently acquired the single-story building located in Shrewsbury, MA from D&S Real Estate Trust for $2.5 million, or about $66 per square foot. The flex building at 910 Boston Turnpike totals 37,800 square feet and was 84% occupied at the time of sale. Jim Glickman and David Cohen of Glickman Kovago & Company represented the seller, while the buyer was...
Kettle Cuisine Leases 203,000 SF in Lynn
Tue, 04 Jun 2013 2:26AM
Chelsea-based Kettle Cuisine signed a 15-year, 203,000-square-foot deal at 330 Lynnway in Lynn, MA. The local soup manufacturer and distributor will relocate to Lynn in early 2014. The Clock Tower Business Center offers amenities such as freezer/cooler space for industrial use, signage, and waterfront access. Kettle Cuisine hopes to tap into the readily available labor pool to accommodate new company growth. A partnership with the Arlon Food and...