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The Deal Sheet

Boston

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The Deal Sheet
It may get nippy in Salem, NH, but the location is warm and inviting to Comcast. It has taken one of the largest industrial leases of the year upthere for a new distribution center.
The Deal Sheet
Comcast leased 109k SF at 9 Northeastern Blvd in Salem, part of a 675k SF mixed-use business park. The company will use this as a regional distribution facility to support warehousing, electronics testing, and office functions. CresaPartners' Mitchell Jacoby repped the cable services provider and Newmark Knight Frank's Jim Thompson and Doug Jacoby repped the landlord,Equity Industrial Properties.***GTC Biotherapeutics agreed to extend its lease of 28k SF and PP Manufacturing its 21k SF lease for lab and office space. Both are staying at 175 Crossing Blvd in Framingham. FHO partner Joe Fallon and colleague Sue Donovan repped the landlord on both transactions. Jones Lang LaSalle's Brooks Murphy was at the table for GTC and CBRE's Chris Tosti repped PP Manufacturing.

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Ruberto Israel & Weiner leased 16k SF at 255 State St repped by Grubb & Ellis? Karyn McFarland and Matthew Godoff. Cushman & Wakefield's Deb Gould and Tim Bianchi represented the landlord,Pembroke Real Estate. For the law firm, this is a relo from 100 N. Washington St.

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Novogradac & Co has expanded and extended for the long term its 10k SF lease at 101 Arch St. The CPA and consulting firm also has offices in San Francisco, metro Atlanta, Kansas City, Mo., DC, Austin; Dover, Columbus and Cleveland, Portland, Ore., NYC, and Long Beach, Calif. Boston Realty Advisors? Wil Catlin and Adam Schneier represented the tenant in the transaction. RBJ?s Tom Ashe repped the landlord, ING Clarion.

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R&Q USA, a non-life insurance investor and underwriting manager, leased 8,278 SF at 101 Summer St. NAI Hunneman?s Jeffrey Becker, Christian Gotfredson, David Cooney, Bonny Doorakian, and Jonathan Gifford repped the tenant. CBRE repped the landlord, Synergy Investments.

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Argo Group US, an insurance underwriter, leased 12k SF at 250 Summer St. They also were repped by NAI Hunneman?s downtown leasing group and CBRE represented the landlord,Colonnade Properties.


Sales

Institutional investors through JP Morgan Asset Management purchased the Park Lane Seaport, a 465-unit apartment building in the Seaport District for $193.8M. Cushman & Wakefield Capital Markets Group's Simon Butler and Biria St. John represented the seller, a JV of The Fallon Co and Cornerstone Real Estate Advisers, and found the buyer. Built in ?06, Park Lane is above LTK plus other retail, around the corner from a Silver Line MBTA stop and a few blocks from I-93 and the Pike.

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The Deal Sheet
FLIR Systems, which designs, manufactures and markets thermal imaging and stabilized camera systems, paid $7.2M for 9 Townsend West (above), a 137k SF office and open-area building in Nashua. The property was sold by Campanelli Cos, which acquired it as part of the GS Portfolio in September. RBJ?s Brian McKenzie, James Lipscomb and John Wilson led by Frank Petz repped FLIR and Campanelli negotiated for itself.FinancingBJ?s Wholesale Club has secured a $9.2M construction loan to build an 85k SF store in Pittsfield along Hubbard Avenue adjacent to Berkshire Crossing and close to Route 9 and downtown. Financing was arranged by HFF Boston's Janet Krolman, Greg LaBine, and Lauren O?Neil. They worked for the borrower, a JV between Saxon Partners and Cape Breton Corp, to secure the loan through Sovereign Santander Bank.

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The May Institute will buy 14 Pacella Park Dr in Randolph, a building it already uses as offices and to house a day program for those with autism, brain injury, and other conditions. It will do the deal using a $16M tax-exempt bond issued by MassDevelopmnent and purchased by Century Subsidiary Investments. The Institute, founded in ?55, works with 25k people out of 200 offices nationwide.

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The Mary Ann Morse Healthcare Corp will build an addition to its Natick facility with $25M in tax-exempt bond financing from MassDevelopment purchased by Sovereign Bank. Mary Ann Morse runs Heritage at Framingham, a 98-unit assisted-living facility and Mary Ann Morse Nursing & Rehabilitation Center, a 123-bed nursing and rehab facility in Natick. Bond proceeds will support a new two-story addition and renovations. It will expand the common space, convert three-bedroom units to two-bedroom, upgrade nursing offices, and renovate a basement for offices. Also, it will add 12 rooms, more rehab space, and a deck.

Assignment

Bucknell University has chosen the Boston office of EYP Architecture & Engineering to design seven new buildings on a newly acquired 50-acre parcel adjacent to campus. The project includes four new apartment-style residence halls, a commons building, and two frat houses. All will be designed to blend with the campus? Georgian architecture. EYP will also prepare a master plan for the 50-acre parcel.

Honor

Prellwitz Chilinski Associates?s Wendy Prellwitz (guess who) and WS Development Partner David Saurette
Prellwitz Chilinski Associates?s Wendy Prellwitz (guess who) and WS Development Partner David Saurette (right) won ICSC honors for Legacy Place in Dedham. They took home a Gold Medal for Innovative Design and Development of a New Project and a Silver Medal for Sustainability at the ICSC national conference on Dec. 2. As top U.S. prize holder, their project is eligible for the ICSC global?best of the best? competition this spring.