News
The Deal Sheet
June 8, 2011
| Leasing | |
| Landlord Normandy Real Estate Partners has inked five leases totaling 51k SF at 281 and 321 Summer St in Boston, buildings it purchased in ?07. | |
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| At 281 Summer St, Space with a Soul leased 15k SF, repped by The Stevens Group's Deb Stevens. At 321 Summer St (above),AisleBuyer took nearly 11k SF repped by Landmark Real Estate Advisors? Eric Solem and Robert Elmer. Zmags is moving into 10.6k SF and was repped by T3 Advisors' Graham Allison and Mark Cote. Apperian moved into 8,903 SF, repped by Grubb & Ellis? Matt Godoff and Karyn McFarland. Architects isgenuity, which will take 6,113 SF, was repped by Boston Realty Advisors?Adam Schneier. The CBRE/NE team of Bill Crean, Ogden White, and Tim Howe repped Normandy. | |
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| MIT?s Lincoln Laboratory has leased 80k SF at Three Forbes Road in Lexington, part of the four-building Forbes Business Center. The well-known lab is a federally funded research and development center that applies advanced technology to problems of national security. R&D activities focus on long-term technology development as well as rapid system prototyping and demonstration. *** | |
| Philips Electronics leased 78k SF of warehouse space and Compucom leased 32k SF of office/data center space at the 495 Business Center in Tewksbury. Richards Barry Joyce?s John Wilson repped Phillips, CBRE's Mark Reardon repped Compucom, and Newmark Knight Frank repped the landlord, Capital Commercial Investments. | |
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| J.M. Electrical, the region?s largest provider of specialized electrical construction work, will relo its HQ into 5,270 SF at 6 Kimball Lane in Lynnfield from 220 Broadway St in Lynnfield. CBRE's David Connolly, Kerry Olson Hawkins, and Robert LeClair repped the landlord Atlantic Tambone. | |
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| ESS Group will relo its HQ into nearly 12k SF at 100 Fifth Ave in Waltham from Wellesley. The company's aim is to upgrade its offices, provide employees an improved commute, and have the entire staff under one roof. Lincoln Property Co's Tim Latham and Kevin Malloy repped the tenant while Mark Roth and Mike Moynahan were at the table for the landlord, Divco West Real Estate Services. | |
| Sales | |
| On Friday, Pebblebrook Hotel Trust filed an 8-K with the SEC confirming its agreement to buy the 235-room W Boston hotel for $89.5M from SW Boston Hotel Venture. On May 24, the deal was approved by the bankruptcy court and Pebblebrook expects to close on June 30. It will fund the acquisition with ?available cash.?*** | |
| ClearRock Properties and Juster Properties purchased 485 Mass Ave in Cambridge for $13M from Meritage Properties. Jones Lang LaSalle's Scott Jamieson, Michael Smith, John Osten,Peter Bekarian, and Robert Borden repped the seller and found the buyer for the 34k SF, fully occupied Class-A office and retail building with parking for 45 vehicles in Central Square. | |
| Construction | |
| BU celebrated the topping off of its $40M Medical School residence hall recently. The construction team includes BU staff, construction manager Walsh Brothers, Fallon Towle & Associates, and Beacon Architectural Associates. The 98k SF, 104-unit building will house 208 students in furnished apartments that include two single bedrooms, one bath and a common area with a fully applianced galley kitchen. It is slated for completion spring ?12. | |
| People | |
| CB Richard Ellis New England announced today that it has named three new partners: Jason Levendusky, Taidgh McClory and Patrick Mulready. Jason is a top producing broker on the suburban team, leasing more than 6M SF since ?01. Taidgh is a SVP responsible for marketing, research, and client services. | |
| Assignments | |
| Equity Industrial Partners has hired Integrated Builders to fit out 100k SF—74k SF of warehouse and 26k SF of offices—for nora systems at 9 Northeastern Blvd in Salem, NH. The work includes interior millwork, cubicles, restrooms, specialties, and mechanical systems. | |
| Honors | |
| The City of Cambridge has selected the Bulfinch Co's Cambridge Discovery Park as a recipient of the 2011 GoGreen Award for Stormwater Management. The complex is permitted for up to 820k SF in LEED certifiable office, R&D, and lab buildings. Already Bulfinch has built 350k SF for the Smithsonian Astrophysical Observatory, the new Forrester Research World HQ and a 600-car parking garage. |
