The Deal Sheet
| Construction Wentworth Institute of Technology broke ground on Saturday for the William H. Flanagan Campus Center and the Center for Sciences and Biomedical Engineering. The Flanagan Campus Center will serve as the hub for student life providing much-needed space for activities, clubs, and organizations, as well as enhanced food services. The Center for Sciences and Biomedical Engineering will create new labs housing cutting-edge technology.*** In a few weeks, $300k in construction will start to refurbish the 351-year-old Granary Burying Ground. No doubt the occupants who include founding fathers like Paul Revere, Samuel Adams and John Hancock would be pleased that visitors will have a more pleasant time when in a few months there are new observation areas, a new path behind Revere?s grave and new fencing to help visitors stay on the paths. The Freedom Trail Foundation will provide $125k in grants and the city will provide $175k. |
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| Claremont Cos recently signed up three tenants who have taken 17k SF at One Lakeshore Center in Bridgewater, which it owns.New York Life Insurance Co leased 6,524 SF; US Bureau of Alcohol, Tobacco, Firearms and Explosives took 5,683 SF; and Bank of America renewed on its 5,100 SF. Colliers International's John Carroll III, David Goodhue, and William Lynch repped Claremont in all three transactions. CB Richard Ellis Northeast repped Bank of America. Atlantic Properties and the Cushman & Wakefield repped New York Life. Crown Partnership was at the table for the ATF. Sales AEW Capital Management purchased the 200k SF Northwood Plaza in Clearwater, Florida for one of its separate account clients. Plaza Advisors? Jim Michalak and Anthony Blanco repped the seller, Northwood Plaza. *** The Federated Cos of Miami sold its last retail property at 115 Washington St in Attleboro for $2.6M to an undisclosed private buyer. Built in ?07, Goodwill Industries occupies the entire 16k SF property. Financing In advance of a $207.45M bond offering by the Massachusetts Port Authority to finance construction of a new consolidated rental car facility and related improvements at Logan Airport, Moody?s Investors Service assigned a A3 rating to MassPort?s Special Facility Revenue Bonds. The bond sale is scheduled for June 8. Assignments |
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| The Grossman Cos and Dinosaur Capital Partners have chosen Jones Lang LaSalle as leasing agent for Braintree Executive Park in Braintree. The two-building, 126k SF Class-A office park is off Route 3, adjacent to the Braintree T station. Capital improvements are planned including: a new lobby, railing system, elevator cab interiors, park signage, common hallways, and remodeled bathrooms.*** |
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| N&P Associates, an affiliate of Triad Alpha Partners, has hired Boston Realty Advisors to sell the Signal Building in South Boston. The 75-unit luxury rental apartment building completed in '10 has condo-quality amenities, including garage parking, and is 95% occupied. Italian kitchens have custom cabinets, stainless steel appliances, and granite countertops. The apartments also feature marble bathrooms, hardwood floors, in-unit laundry, and central AC. Some apartments have 15 foot ceilings, brick and beam exposures, and private roof decks.PeopleFox RPM announced that it has named Peter Stein president of the project management company. Gretchen Fox, founder and past president, will assume the position of CEO and continue to maintain client relationships and be involved in strategic decisions for the company. *** |
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| Campanelli Cos has hired Jordan Berns as an asset manager. During his 11 years in CRE, Jordan has worked for Archpartners, Trammel Crow Co, Cushman & Wakefield, and Archon Group. After selling $2B in property, he will help Campanelli in its acquisition and development program. |
| Honors |
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| Bond Brothers Civil & Utility division received the Award of the Year from the Construction Management Association of America for the MIT/ Lincoln Laboratory HUSIR Replacement Project. The New England chapter of the CMAA celebrated outstanding projects, individuals, and students in various categories at the 17th Annual Project Achievement award ceremony last month. Above, Bond?s Edward Bond Jr. presents the Bond scholarship to Wentworth Institute of Technology student James Lee. |
