THE DEAL SHEET
| Shrewsbury may seem way out there to some but to New York-based Home Properties it looks like a good buy. |
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| Home Properties paid $40.5M to GE and John M Corcoran & Co for The Commons at Haynes Farm, a 10-building, 302-unit apartment community. CBRE/NE?s Travis D?Amato repped the sellers and found the buyer. The property was built in ?91 and is 97% occupied. Located near the region?s three major job hubs, it's six miles from downtown Worcester, about 30 miles from Boston, and 45 miles from Providence.*** |
| Synergy Investment & Development purchased HarborSouth, a 10-story, 205k SF Hancock Street office tower in Quincy, for $31.3M. The prominent building was sold by a partnership of Pennsylvania-based Urdang Capital Management and Boston's Griffith Properties. In '07, the partners bought it from the Hamilton Cos and a year later did a $16M renovation. Tenants include the state Department of Health and Human Services and MFS Investment Management.LEASING SustainX will move into a new, larger 42k SF HQ in Seabrook, NH in a relo from Lebanon. The company provides patented isothermal compressed-air technology storage for wind and solar power. Earlier this month, it received another new patent giving it control over a technology combining cogeneration with isothermal compressed-air energy storage to turn waste into electricity. *** Mobility Services International did a HQ relo into 15k SF in Hampton, NH from Newburyport. NAI Hunneman?s Chip Denton repped MSI and landlord RMMC Liberty Lane LLC was repped by its own Kim Regan. *** Financial Engines subleased 9,900 SF at 100 High Street from Investment Technology Group in a relo from 99 High St in the Financial District. Newmark Knight Frank's John Hennessey repped ITG and CBRE repped Financial Engines. *** MobilAware USA leased 3100 SF at 200 High St downtown from The Davis Cos. This deal fills the building and brings the Davis Cos? legacy portfolio to 100% occupancy. The lease was brokered by NAI Hunneman?s David Cooney and Bonny Doorakian. Davis was repped by its own Duncan Gilkey. Lincoln Property Co's Brendan Miller repped MobileAware. |
| CONSTRUCTION |
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| The $55M Wilmington Waterfront Park (designed by Watertown, Mass-based Sasaki for the Port of Los Angeles) recently opened to the public. Using its landscape architecture, architecture and civil engineering pros, Sasaki transformed a brownfield into a community gathering place. Sustainable technologies will reduce air and noise pollution and the design restores visual access to the previously hidden LA waterfront, the nation's busiest commercial port.***In August, a development team led by Joseph Taylor plans to start construction on a $3.2M, 19-unit condo project at 354-356 West Second St in South Boston. The wood-framed structure designed by Sutphin Architects will have 16 two-bedrooms, three one-bedrooms, and include three affordable units and parking. It will be ready for occupancy next August. |
| PEOPLE |
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| Acentech's chief engineering scientist Dr. Eric E. Ungar has been awarded the Acoustical Society of America?s Gold Medal, its highest honor, for six decades of technical contributions to acoustics, to the ASA and the acoustics community. His widely recognized advances include structural damping (particularly regarding the use of viscoelastic materials), high-frequency vibration isolation, vibrations of complex structures, and structure-borne sound, as applied to buildings, aerospace vehicles, ships and machinery.*** Fidelity National Title Insurance Co has added to its staff Joe Sarno, Debbie Bayha, and Natalie Bray. Joe, who worked on the Vertex deal, has joined as managing director and legal counsel. Debbie will work on maintaining client relationships and developing new business. Natalie, also an attorney, will focus on underwriting CRE deals for local clients. FINANCING EagleBridge Capital's Ted Sidel and Brian Sheehan arranged $10M in long-term, fixed-rate mortgage financing for the fully leased 9/27 Shopping Center in Natick. The 85k SF center is anchored by a Super Stop & Shop Supermarket. Its other tenants include: Panera Bread, Aspen Dental, Music Go Round, Five Guys Burgers, Boston Tan, The UPS Store, Haircuts, LTD, and Scottrade. It's managed by Finard Properties and was developed by an affiliate in the late ?70?s. *** Beacon Communities of Boston received $1.8M in financing from MassDevelopment for Phase III of the Homes at Easthampton Meadow. This is the final phase of the 33 single-family mixed-income, multi-generational residential community for seniors and families with foster or pre-adoptive children. Nine of the homes on the 46-acre site at the foot of Mount Tom will be affordable to first-time homebuyers earning at or below 80% of the area median income. |
