This Week's Boston Deal Sheet
A 38k SF office property on Boston’s Downtown Crossing has traded hands for $16M.
Back to Shul acquired 33-41 West St, just steps away from the MBTA’s Red and Orange lines. NAI Hunneman’s capital markets group procured the buyer, and repped seller Midtown West Street LP.
SALES
An affiliate of TrueNorth Capital Partners acquired the Somerville Squares portfolio, 87 units spread across three buildings: 8-12 Beacon Terrace, 379-385 Broadway and 39-49 Bow St. The portfolio was purchased from a private family for a little over $27M. CBRE/New England’s capital markets group repped the seller and procured the buyer.
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Houston-based Boxer Property acquired an office building at 67 Forest St in Marlborough for an undisclosed price via auction. This marks its second recent area acquisition. Back in April, Boxer purchased a 102k SF office building at 85 Swanson Road in Boxborough.
LEASES
Medical devices manufacturer Guldmann is relocating its HQ from Belmont to Waltham after signing a 5k SF lease at 411 Waverley Oaks Road in the 1.2M SF Waverley Oaks Park. NGKF repped the tenant, while NAI Hunneman’s leasing and advisory services team repped owner Duffy Properties.
THIS AND THAT
Q-State Biosciences completed a 6,500 SF Tissue Culture Laboratory at 179 Sidney St in Cambridge. Tocci Building Cos provided design coordination and construction management while collaborating with Jones Architecture and AHA Consulting Engineers.
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A city-owned parcel in Winthrop Square that could be home to one of the city’s tallest towers has attracted a wide range of bids. Six teams are vying to redevelop the nearly one-acre garage site. Bids ranged from $50M from Accordia Partners to $150M from Millennium Partners.
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The Cummings Foundation awarded grants of $100k each to 100 nonprofits in the Greater Boston area. A competitive review process saw 479 applicants vying for the grants from Cummings' "$100k for 100" program, which was celebrated with a reception at TradeCenter 128 in Woburn.
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French conglomerate Veolia is relocating its North American HQ from Chicago to Boston. The company specializes in operating water and sewer systems for municipalities, and anticipates adding 50 jobs to its existing offices in the Exchange Place Tower at 53 State St over the next several years.
