This Week's Boston Deal Sheet
Biotech company Sanofi Genzyme has expanded its footprint at One Research Drive in Westborough.
The company has expanded its lease at the building by 47% and will now occupy over 167k SF of the 283k SF Class-A building. Ferris Development purchased the building, which is now more than 96% occupied, in 2014 for $21.5M. Transwestern repped Ferris, while JM Zell aided Sanofi Genzyme.
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Leasing
Cambridge-based biotech company Unum Therapeutics has relocated its HQ from the LabCentral incubator program in Kendall Square to 200 CambridgePark Dr. The company secured $65M in Series B funding last year and will occupy 33k SF at its new digs.
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Metabolix is relocating its HQ from Cambridge to Woburn this June. The biomaterials company has signed a 10-year lease to occupy 29k SF at 19 Presidential Way, a four-story, 144k SF building owned by Alexandria Real Estate Equities. Transwestern negotiated the lease on behalf of Alexandria, while JLL repped Metabolix.
BNY Mellon has re-upped its 250k SF lease at One Boston Place for a 15-year term. The investment giant has been an anchor tenant at the 41-story downtown office tower at 201 Washington St since 1980.
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Sales
A JV of Boston-based Gordon Brothers Group, Odyssey Real Estate Capital of Las Vegas and New York-based New Mill Capital Holdings has acquired the former Sunny delight bottling plant in Littleton for $4.6M. CBRE has been retained to market the property.
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Financing
CBRE/NE’s Multifamily Debt & Structured Finance Group secured $5.7M in acquisition financing for SVN/Parsons’ $7.5M purchase of Dean Estates, a 58-unit multifamily property in Taunton.
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This and That
Plymouth Pinehills Village has been named “Community of the Year” by NAHB’s Best in American Living Awards and picked up another award for “Best Mixed-Use Community.” The 3,000-acre community on the South Shore in Plymouth opened in 2001 and includes 1,800 homes, a number that will grow to more than 3,000, including single-family, apartments and condos. Pinehills features 10 miles of walking trails, over 2,000 acres of natural and recreational space, and the Village Green, home to restaurants, retail and services.
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Ground has been broken for The Hub on Causeway, the mixed-use development on the site of the old Boston Garden that will span more than 1.5M SF. Plans for the 2.5-acre site call for a 260-room hotel, residential, retail and offices.
Bill Goade, former CEO and founder of Cresa Partners, has announced he will be retiring this spring. The company was founded in 1985 as Avalon Partners, a 60-person startup office in Boston and has grown to more than 70 worldwide locations. Cresa is North America’s largest tenant-only commercial real estate firm.
