This Week's Boston Deal Sheet

Life sciences incubator LabShares Newton is expanding its space at Chapel Bridge Park by 25K SF in a new lease agreement with The Bulfinch Cos., bringing its total footprint to 40K SF.

The flexible coworking space hosts early stage biotechs, venture capital-backed startups and larger companies establishing a foothold in the Boston market. The expansion will include private lab suites, shared lab resources and dedicated benches in a biosafety Level 2 lab. The facility will be completed in the first quarter of 2022.

The Chapel Bridge Park campus spans 250K SF and sits near Interstate 90. The eight-building complex was built in the 19th century and renovated in 2013, and it includes amenities such as indoor bicycle storage, a fitness center and an on-site minimarket. 

The Bulfinch Cos. touts 3.6M SF of owned and managed life sciences, office and medical properties in Cambridge and the MetroWest region heating up with lab development. LabShares Newton is one of the city's largest lab spaces. 

SALES

34 Munroe St. LLC, tied to Oregon-based Green Cities Investment Management, paid $123.5M for the Caldwell apartment complex at 34-38 Munroe St. in Lynn. The complex was sold by CRP/PE Munroe Street Owner LLC, tied to Washington, D.C.-based Carlyle Realty. Carlyle and Lynnfield-based developer The Procopio Cos. developed the 10-story, 259-unit complex in 2019.

LRF2 Bos Technology Drive LLC, a company tied to Boston-based Longpoint Realty Partners, spent $54.1M for 3 Technology Drive in Peabody, a 159K SF warehouse in the North Shore’s Centennial Park campus. Wheelock Street Capital, the seller, bought the 18-year-old warehouse with the Seyon Group for $30.1M last year from SKJ Realty Limited Partnership. 

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LS Alewife VII LLC, a company tied to life sciences REIT Healthpeak Properties, paid $41M for the 40K SF warehouse at 125 Fawcett St. in Cambridge. The property was previously owned by Somerville-based Belam Realty LLC. The purchase is part of Healthpeak’s $625M area spending spree as it gathers assets in anticipation of a life sciences campus. 

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Labcorp Early Development Laboratories, formerly known as Covance, paid $49.4M to companies tied to Toxikon Corp. LLC for 5, 15 and 25 Wiggins Ave. in Bedford. The purchase is tied to the life sciences firm’s acquisition of Toxikon Corp., which closed last week. 

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Chestnut Hill Propco LLC, a company tied to Norwood-based LCB Senior Living, paid $19M for The Residences at Boylston Place, a senior living facility at 615 Heath St. in Brookline. The property was sold by NHP Chestnut Hill LLC, a company tied to the State Board of Administration of Florida. 

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Alexandria Real Estate Equities bought 285-291 Arsenal St. in Watertown for $4M from 285-291 Arsenal Street LLC. The seller is tied to Alfred Mercullo, founder of Tile Showcase, a tile installation business that occupied the site. The former tile store was built in 1980, and the property spans half an acre.

EXECS

Boston-based real estate firm Senné promoted Tyler Munsinger to chief operating officer after previously leading the company’s accounting team, where he helped source debt and equity financing. Munsinger has more than a decade of experience in residential and commercial real estate and formerly worked at Big Four accounting giant KPMG. 

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North Reading-based construction management firm Columbia promoted Bill Carpenter to vice president of preconstruction and estimating. Carpenter, who has been with Columbia since 2005, has worked in a variety of pre-construction and estimating roles on life sciences, healthcare, academic and hospitality projects.  

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Beacon Communities promoted Kristie Tafel Rizzo to senior vice president of property management. Rizzo, who has been with Beacon since 2005, was most recently a regional vice president. She will oversee Beacon’s portfolio in New York and Connecticut. 

LEASES

Boylston Properties has leased up its entire 165K SF Arsenal Yards project at 100 Forge in Watertown to five life sciences firms. Abata Therapeutics will lease 23K SF, Remix Therapeutics will lease 43K SF, Curie Therapeutics signed for 39K SF, Vigil Neuroscience leased nearly 20K SF, and Affini-T Therapeutics leased the top two floors spanning nearly 40K SF. The nine-story project at the former Arsenal Mall broke ground in February and is expected to be completed late next year.

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Albireo Pharma entered into a sublease agreement with the Institute For Healthcare Improvement for 27K SF at IFHI’s office space at 53 State St. in Boston. Albireo plans to use the space as its principal executive office, and the lease will commence next March and run through January 2030. The building’s landlord is Beacon Capital Partners.

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Hi Marley entered into a sublease agreement with Albireo Pharma for 14K SF of Albireo Pharma’s office space at 10 Post Office Square in Boston. The lease will commence next April if the space isn’t delivered before then and will expire Oct. 31, 2026. The building’s landlord is NS Boston III PO Owner LLC, a company tied to Synergy Investments.

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Massachusetts-based industrial, office and medical developer Campanelli completed a combined 116K SF of office leases across its regional portfolio. The firm signed 13 total leases, including 59K SF between new tenants and 32K SF of renewals since Q2. Campanelli earlier this year secured an additional 25K SF across three leases. 

Newmark Senior Managing Director Tyler McGrail, Vice Chairman Mike Frisoli and associate Margaret Fee represented Campanelli in the leasing.

THIS AND THAT

Chestnut Hill-based WS Development revealed plans for The Superette, a 125K SF retail courtyard in Boston’s Seaport consisting of 40 stores, restaurants and entertainment venues. The Superette, scheduled to open between next spring and summer, is designed by New York firm Kohn Pedersen Fox Associates and will sit in the first two levels of the Echelon Seaport residential complex. 

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Wayfair will open three brick-and-mortar retail stores in 2022, all in Massachusetts. AllModern will open at MarketStreet Lynnfield and a second location at Legacy Place in Dedham, both open-air shopping centers owned and managed by WS Development. Joss & Main will open at Simon Property Group’s Burlington Mall. Wayfair, which last December shuttered its only location in the Natick Mall, plans a series of openings following the first three Massachusetts stores.