This Week's Boston Deal Sheet
Colliers Boston has arranged $133M in financing through Aareal Capital on behalf of Capital Properties.
Funds will be used to cover the replacement of existing debt, as well as cosmetic renovations on the 540k SF Park Square Building at 31 St. James Ave. The 11-story property is set to undergo renovations to the lobby and common areas, and a makeover of interior office spaces.
Sales
LB Investment Group has sold a 55k SF industrial building at 20 Commercial Dr in Dracut to 303 Broadway Nominee Trust for $3.1M. The Stubblebine Co/CORFAC International repped the seller and procured the buyer.
Leasing
OMNIlife Science Inc is relocating its HQ from East Taunton to 480 Paramount Dr in Raynham, where it will occupy 100% of the building. The company has leased 40k SF of industrial/flex space from Calare Properties, which acquired the property in Q4 2015. CBRE/New England’s Industrial team repped OMNI.
***
MIT spinoff SolidEnergy Systems will relocate its HQ this summer from Waltham to Cummings Properties’ 35 Cabot Rd property in Woburn, where it will expand its footprint from 3k SF to 23k SF. Cummings Properties leasing directors Mike Truesdale and Rob Yacobian worked with Boston Commercial Properties president Warren Brown on the transaction.
This and That
Fuse Cambridge has teamed up with wellness real estate and technology firm Delos to offer Well Signature apartment homes, which are intended to enhance resident health and wellness through features such as advanced water and air filtration systems, and innovative lighting technologies. The 244-unit Cambridge luxury apartment community, developed by Hines and managed by The Bozzuto Group, will be the first property to introduce Well Signature apartment homes in Massachusetts.
***
James Elcock has been appointed as president of Colliers International Boston, replacing the departing Ron Perry. He was previously a member of the Colliers Boston Executive Committee, and will also lead brokerage operations in the Greater Boston area.
