This Week's Boston Deal Sheet
A $79M building usually would not attract the attention of President Obama. But yesterday’s official dedication of the Edward M. Kennedy Institute for the US Senate brought him, First Lady Michelle Obama, Vice President Biden and many of the nation’s Democratic and Republican luminaries to Columbia Point.
They came to pay tribute to Sen Kennedy’s many accomplishments during his 47 years in the US Senate, not least of which is access to healthcare for all Americans. (Sen Kennedy's widow, Vicki, is speaking.) The purpose of the 68k SF Institute designed by Rafael Vinoly with clear simple forms in stark white is to educate to public about how our government works. Besides fighting for Massachusetts’ interest, the late Senator was known for working with opposition Republicans to further the nation’s interests, bipartisanship rarely seen today in Congress.
Sen Kennedy also was the most high-profile elected official to come out as an early supporter of then-Senator Obama’s first run for the White House in ’08. The EMK Institute includes a full scale replica of the US Senate chamber. The just-completed building sits next to brother John F Kennedy’s museum and both are on the UMass Boston campus.
SALES
North River Co paid RREEF America $66M for One & Two Portland Square, a 259k SF mixed-use office building in downtown Portland that's 97% leased. Cushman & Wakefield’s Robert Griffin, Edward Maher, Matt Pullen and Samantha Hallowell managed the deal.
Dividend Capital paid $35M for the South Cape Village in Mashpee, a 143k SF retail center anchored by Roche Borthers between Falmouth and Barstable/Hyannis on Route 28. Seller Mashpee Investors was repped by Cushman & Wakefield’s Robert Griffin, Geoffrey Millerd and Justin Smith.
Ferris Development Group paid $22.3M to Charles River Realty Investors and Crosspoint Associates for 1432 and 1440 Main St in Waltham. The 135k SF, two-building portfolio is 90% occupied. Transwestern | RBJ's Chris Skeffington, John Lashar, Ron Friedman and Roy Sandeman repped the seller, found the buyer and going forward will lease and manage the property.
***
A Coloroado-based investor has paid Emmes Asset Management $46.1M for The Shoppes at Bedford Mall that Emmes purchased in 2000 and repositioned. HFF brokered the sale and placed the debt financing.
LEASING
CDM Smith, leased 120k SF at 75 State St in a relo from Kendall Square. The engineering and construction firm will save money on rent and have a more contemporary, open layout while the Cambridge building owner, BioMed Realty Trust, is happy to have more space to lease in a rising market where rents are steadily moving up, VP Bill Kane tells Bisnow.
Autodesk, which makes 3D design software, won kudos yesterday from Mayor Walsh and chief of economic development John Barros for moving its Boston HQ to the Design building owned by Jamestown in the industrial section of the Boston waterfront. In the relo from 60k SF in Waltham to 70k SF at 23 Drydock Ave in the Innovation & Design Building, T3 Advisors repped Autodesk and Colliers repped Jamestown.
***
One of the area’s largest tenants at 400k SF, Akami Technologies is taking the space CDM Smith is leaving at 50 Hampshire St on an interim basis while looking for a larger office.
***
At 90 Canal St in North Station, UP Education is expanding and extending its lease while Boston Cares is moving in on a relo. Boston Realty Advisors’ Wil Catlin, Robert LeClair and Bonny Doorakian repped the landlord. CBRE/New England’s Peter Conlin repped UP Education; Avison & Young’s Jack Kerrigan, Justin Dziama and Virginia Kerrigan repped the nonprofit.
MultiPlan, which provides healthcare cost management, leased 75k SF at 16 Crosby Dr, The Xchange at Bedford. Duncan Gilkey (above) is the leasing director for the landlord, The Davis Cos, while Bob McKimson is the national facilities director for MultiPlan.
***
Barton Associates, a physician, physician assistant, and nurse practitioner staffing and recruiting firm, is taking 51k SF at 300 Jubilee Dr in Peabody and has an April move-in date. Savills Studley advised Barton.
Salsify is taking nearly 13k SF in One Winthrop Square in the Financial District, an expansion and relo from 3,354 SF in nearby 109-115 Broad St. NGKF’s Jason Cameron repped Divco West, landlord of the historic asset that’s now 92% leased.
