The Deal Sheet
| Cambridge holds the heart of the life science industry, but Boston may have landed the biggest deal in quite a while: Vertex Pharmaceuticals agreed to lease 1M SF in the Seaport, contingent on FDA approval of a new product. |
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| On Monday, Vertex signed a non-binding LOI to move into two new build-to-suites (above, designed by Tsoi Kobus and Elkus/Manfredi) at Fan Pier in 2013, if the feds approve telaprevir, which could happen as early as May, says Vertex spokesmanZachry BarberVertex?s next step would be to sign a leaseagreement, still contingent on an FDA green light for the hepatitis C treatment. If the deal materializes, it would jump startrecession-stalled development at Fan Pier, planned as 23 acres with eight buildings of offices, housing, retail, hotels, parks, and a marina. Vertex would leave 10 buildings in and around Kendall Square in Cambridge where it was founded in 1989. When asked why they chose the waterfront over a less costly suburban alternative, Barber would only say they've looked at a number of sites. |
| ***Steward Health Care System leased 101k SF of offices at 30 Perwal St in Westwood with a late spring move planned. Cushman & Wakefield's Robert Griffin and Frank Nelson repped Steward while Grubb & Ellis Taryn Wilson repped Campanelli, which will oversee the build-out of the interior and upgrade the exterior. RKB Architects will do the design work.*** Resonetics signed a long-term lease to relo its corporate HQ into50k SF at 44 Simon St in Nashua. The provider of laser micromachining products was repped by NAI Hunneman?s Suburban Leasing Group, which includes James Boudrot,Brendan Daly, Evan Gallagher, Stephen James, and Michael McCarthy in collaboration with Chris Norwood. CB Richard Ellis represented the landlord, Boston-based Liberty Properties. |
| Sales |
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| Campanelli Cos paid $11.4M for five properties from the Canton/Dedham CRE Portfolio of JMS Realty Trust including 45 Shawmut Rd, in Canton (above). Campanelli partnered in the deal with Dallas-based TriGate Capital, a JV that's picked up 16 buildings in the last 12 months. Campanelli was repped by its own Stephen Murphy while Grubb & Ellis? Taryn Wilson was at the table for the seller. Financing at closing was provided by Cambridge Savings Bank. |
| ***Nova Biomedical bought an 80k SF manufacturing/warehouse facility at 39 Manning Rd in Billerica to expand and relo from Bedford. Grubb & Ellis? Jack Kerrigan brokered the deal for the life science company, which will keep its offices and R&D at its HQ in Waltham.*** Horn Packaging has purchased 580 Fort Pond Rd in Lancaster, Mass. to relo four operations spread around the region into one 275k SF distribution and manufacturing plant. UGL?s James Halepis and Roger Williams in Boston with Mike Cook in Indianapolis repped Horn. *** iMakeNews leased nearly 21k SF at 200 Fifth Ave in Waltham, expanding from 12k SF at the same location. CresaPartners'Shawn McDonough and Mitchell Jacoby repped the tenant. Cushman & Wakefield's Mark Roth repped the landlord, Divco West. *** The Boston Society of Architects has agreed to lease 15k SF atAtlantic Wharf?s Waterfront Building, on track to become Boston's first LEED-CS Gold skyscraper. McCall & Almy repped BSA and will assist it in selling its existing building at 52 Broad St. H weler+Yoon will design the interiors. *** Brodeur Partners has agreed to a long-term lease, nearly 9k SF, at 399 Boylston St. Boston Realty Advisors? Wil Catlin and Adam Schneier repped the tenant. FHO Partners' Lauria Brennan andDuncan Gratton repped the landlord, Shorenstein Properties. *** About Women by Women has leased 7k SF of medical space at 30 Washington St in Wellesley, an in-town relo. Lincoln Property'sTim Latham and Kevin Malloy represented the tenant and Vida Doyle represented Haynes Management, the landlord. |
| Dassault Syst mes has hired Columbia Construction to provide preconstruction and construction management services for the build-out of its 212k SF US HQ at 175-185 Wyman St in Waltham owned and operated by Hobbs Brook Management. Elkus Manfredi is designing the 175 Wyman St interior. Jones Lang LaSalle is the project manager, AHA Consulting Engineers is the MEP Engineer for the office interior and Symmes Maini & McKeeis doing the engineering design services for a data center and computer lab. |
