This Week's Boston Deal Sheet: Acton Shopping Center Sells For $38M
Edens has sold an Acton shopping center for $38M.
The South Carolina-based firm sold the 144K SF Acton Plaza shopping center to an affiliate of national retail REIT Brixmor Property Group, according to public records.
The property's tenants include HomeGoods and T.J. Maxx, Achieve Physical Therapy, Acton Wine & Spirit Co. and Dunkin'. The plaza was renovated in 2014, according to Edens' website.
Another 75K SF Acton shopping plaza was acquired in February for $21M, the Boston Business Journal reported. A Clarion Partners affiliate bought the site, which is home to Staples, Talbots, an X-Golf and anchored by a Trader Joe's.
SALES
An entity linked to BlackRock Realty Advisors acquired an active adult community for residents 55 and older in Wayland for $98M. The investment giant bought the Alta Oxbow property at 495 Boston Post Road from developer Wood Partners.
The complex opened in July 2022 with 218 apartments across three buildings with average rents around $2,700. The development also has 55 affordable units that launched their lottery in May of the same year.
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An entity linked to United Properties acquired two apartment buildings at 34 and 38 Main St. in Malden for $19M, according to deed records. The firm acquired the properties from Timothy J. Fiore Trust. United Properties owns several apartment buildings in Malden, Everett, Chelsea and Saugus.
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Chicago-based LaSalle Investment Management acquired an Extra Space Storage location in Newton for $21.5M, according to deed records. The self-storage space is at 137 Rumford Ave. in the Newton neighborhood of Auburndale.
LEASES
Clean tech company Active Surfaces signed a 4,800 SF lease at Cummings Properties' 34 Commerce Way in Woburn. The company has relocated to Woburn from Somerville, where it had space at Greentown Labs. Active Surfaces will join medical device manufacturer Cytrellis and rechargeable battery producer Solid Energy Systems at the Woburn location.
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Following the opening of its 27 Boylston St. building, the owners of The Street Chestnut Hill are welcoming eight new retailers to the shopping plaza. WS Development will welcome Bridgewater Chocolate, New England OB-GYN Associates, Mejuri, M.M.LaFleur, Winston Flowers, Pink Carrot, SWTHZ and Brilliant Earth.
CONSTRUCTION AND DEVELOPMENT
Gillette filed a letter of intent with the Boston Planning Department to redevelop its 31-acre Gillette World Shaving Headquarters in South Boston to include housing, public open space and other commercial uses. Housing would make up 30% of the proposed project, with the rest being unspecified commercial development.
The shaving company also outlined several benefits the project would bring to the community, including creating one of the largest waterfront parks in the city and generating new jobs and real estate taxes.
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Local real estate developer Sing Ming Chan proposed a 25-story, 106-room hotel in Boston's Chinatown neighborhood, according to the Boston Planning Department. Chan bought the property at 15-25 Harrison Ave. in 2014 for $4.9M with an early plan in 2016 for a hotel, the Boston Business Journal reported. The hotel would span 80K SF on a parcel that is less than a tenth of an acre. The parcel is home to a five-story, vacant, dilapidated building.
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An entity named Dorchester Columbia MM LLC proposed a five-story, 56K SF workforce housing project at 555-559 Columbia Road in Dorchester, according to the Boston Planning Department. The project would include 33 workforce housing units and 18K SF for a new Boston Public Library branch.
