Sanofi Pasteur Re-Ups; The Deal Sheet
| One of the world?s leading vaccine makers, Sanofi Pasteur, has signed a long-term renewal of its lease on research and lab space in Cambridge?s life science hub, Kendall Square. |
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| Sanofi Pasteur has extended the lease on its 53k SF of lab space at 38 Sidney St in University Park adjacent to MIT (above). Colliers Meredith & Grew's Joe Flaherty and Tucker Hansen repped for the landlord, a partnership between MIT and Forest City Enterprises. Zell Partnership?s Louis Kluger was at the table for Sanofi Pasteur, the vaccines division of the Sanofi-Aventis Group. Sanofi Pasteur provided more than 1.6 billion doses of vaccine in 2009, enough to immunize more than 500 million people. Its neighbors in the 2.3M SF mixed-use University Park complex include biotech/life science companies Millennium/Takeda, Novartis, Vertex, Genzyme, ARIAD, and Aveo.***In good news for the Merrimack Valley submarket, Comcast decided to renew its 98.3k SF lease on its regional office and customer care services in the Chelmsford building where it's been located for more than a decade. Favorable terms sealed the deal, according to tenant rep CresaPartners' Mitchell Jacoby. Lincoln Property's Kevin Malloy negotiated for the landlord of 330 Billerica Rd, Principal Financial. *** Bauer Hockey has leased 57k SF in Exeter, N.H. in a move that will relocate and double the size of its global corporate HQ, which is now in nearby Greenland, N.H. Construction has already started on the hockey equipment maker?s new space at 100 Domain Dr. Bauer Hockey will keep its existing Canadian sales and marketing office in Mississauga, Ontario; its R&D center in St. Jerome, Quebec and regional offices in Sweden and Germany. Its new office is near I-95 and will undergo renovations on the fa ade, lobby, landscaping, and other amenities. CBRE's Margaret O?Brien repped Bauer. Richards Barry Joyce?s John Wilson and James Lipscomb together with Monks and Co's Mike Monks negotiated for the landlord, First Altex Realty Trust. Assignments Skanska USA Commercial Development appointed Jones Lang LaSalle as exclusive leasing and property management agent for the development of 150 Second St in Cambridge, a new 120k SF lab/research facility it will build in Kendall Square. Skanska purchased the development rights from Bent Street Land Co, an investment entity sponsored by Spaulding & Slye Investments. JLL secured all permits and site plan approvals. Once completed, the three-story building designed by Elkus Manfredi will seek LEED Gold. *** Berry, a division of Suffolk Construction, has been chosen as construction manager for Maine Medical Center's (MMC) Strategic Master Facility Plan Phase Two, a plan likely to involve $100M in construction. The construction management team will work with hospital officials and the architect to revise and update the next phase of MMC?s long-term plan, concentrating on the Bramhall campus in Portland, the center?s largest facility. Also, the team will ID facility needs for inpatient medical and surgical care services. *** Communispace is working with Diversified Project Management on its relocation from Watertown and expansion from 40k SF to 82k SF at Atlantic Wharf. Diversified will provide comprehensive project management services for the move into the Waterfront Building. FHO?s Ted Lyon repped the tenant for the lease with occupancy expected next summer. *** The Nelson Cos hired Grubb & Ellis to lease Newton Wellesley Executive Office Park, a 129k SF office campus in Wellesley. Jack Kerrigan and Dan Krysiak will lead the team leasing 40 Walnut and 70 Walnut, both of which have newly renovated lobbies and signage opportunities. They're just off Rt. 128, near the Mass Pike, and overlook the Charles River. Sale South Realty Trust and Atlantic Tambone sold about 3.5 acres zoned for business in Reading at the intersection of routes 128 and 28 to 100 Main Street Reading LLC for $3.3M. New Dover Associates? Scott Hughes repped the seller and Dover?s Tina Brzezenski was at the table for the buyer. Financing The Melrose Family Young Men's Christian Association will buy and renovate a childcare facility in Stoneham and renovate childcare space in Melrose with financing from a $5M tax-exempt bond issued by MassDevelopment and purchased by Northern Bank & Trust. The Melrose Y currently provides childcare for more than 600 infants to school-age children, with waiting lists of almost 50 children for each age group. *** The American Meteorological Society will buy a building adjacent to its current Beacon Hill HQ for extra office space with financing from a $5.5 million tax-exempt bond issued by MassDevelopment. AMS, founded in 1919 with fewer than 600 members, now has 14,000 members including professionals, professors, students, and weather enthusiasts. Its HQ at 45 Beacon St was built in 1806 for Boston's third mayor, Harrison Gray Otis, and is a National Historic Landmark. The building purchased through this financing, 44 Beacon Street, has a strong historical connection to the AMS HQ building since Otis built it for his daughter in 1831. Honors 33Comm, 57 mixed-income condos developed by B?nai B?rith Housing New England in Chestnut Hill won the Jack Kemp Workforce Housing 2010 Models of Excellence Award from the ULI Terwilliger Center for Workforce Housing. The units, in a new and a renovated building, were built using Chaper 40B, city and state gap financing and include affordable units for buyers making less than 80% of the AMI. *** |
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| BOMA gave Equity Office two Building of the Year Awards for Operational Excellence, Wellesley Executive Office Park and One Memorial Drive in Cambridge (above). This is the first TOBY award for the 642k SF Wellesley complex and the second for the 352k SF One Memorial Drive. Both had lobby makeovers in ?08.*** |
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| The Greater Boston Real Estate Board?s Rental Housing Association presented Jerry Rappaport (left) with the Industry Excellence Award, which annually goes to someone who exemplifies excellence in rental housing through community and civic involvement and professionalism. Jerry?s a founder and co-owner of New Boston Fund, a $1.2B real estate private equity firm that has bought and built more than 20M SF of CRE and more than 5,000 units of multifamily rentals and condos. He's also president of Rappaport Real Estate Investment Advisors. Jerry has promoted zoning incentives to spur the production of new workforce housing. In ?04, with New Boston Fund, he created the Urban Strategy America Fund, promising a triple bottom line that would generate returns to investors, spur economic development and workforce housing, and promote environmental sustainability. |
