This Week's Boston Deal Sheet
Put the fancy gasoline in your car today. You're going to have to break some bad news to her tomorrow.
The Boston Redevelopment Authority has unanimously approved a plan from The HYM Investment Group and National Real Estate Advisors for the redevelopment of the Government Center Garage at One Congress Street. Plans include a 43-story, 1M SF office tower and a 486-unit luxury apartment building.
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Sales
Audio Visual Management has sold its office building at 349 Union Ave in Framingham to Pestex Inc for $467k. Marlene Aron of Metrowest Commercial Real Estate repped the seller, and Centre Realty Group’s Tom Slayton handled negotiations on behalf of the buyer.
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Mack-Cali subsidiary Roseland purchased its former JV partner’s interest in The Chase at Overlook Ridge. Roseland is now sole owner of the 371-unit luxury apartment building in Malden.
Development
Construction is underway on the new 79k SF Hilton Garden Inn at Patriot Place, which will overlook Gillette Stadium. XSS Hotels is the developer of the $14M project while PROCON has been tasked with design and construction.
Berkeley Investments has received the go-ahead from the BRA on plans to expand the Stillings Street Garage at 22 Boston Wharf Rd. The company plans a $30M expansion of the facility to include two floors of office space and to convert some of the existing space into retail.
This and That
General Electric is moving its global HQ to Boston. The company publicly addressed the possibility of a move last summer in response to a Connecticut budget deal to raise corporate taxes.
GE scouted dozens of potential sites before selecting Boston with a nod to the city’s high-tech economy, large student base and focus on R&D.
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Castle Island Brewing Co opened a new craft brewery last month at 31 Astor Ave in Norwood. The site was a former 20k SF warehouse which was transformed by Kaplan Construction.
