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January 6, 2010 
 
 
CHARLES RIVER SHOPS FOR MORE;
THE DEAL SHEET

 
Charles River Realty Investors’ Brian Kavoogian, one of Boston’s more cautious investors, has crews renovating the 156k SF 10 Brookline Place West office building near the Longwood Medical Area. Last January, in one of the largest deals of ’09, he and his partners bought the property for $62M. 
 
Charles River Realty Investors’ Brian Kavoogian

Six months earlier, he says the asking price was $80M. 10 Brookline is leased long term to Dana Farber and New England Institute of Art. Over the next two years, Brian says he'll shop the region for another $130M in opportunistic deals. He prides himself on being careful in real estate and in one of his favorite hobbies, ice hockey. The rough sport hasn’t got the best of him: “I still have all my Chiclets.”

 

Construction

Skanska USA Building, in affiliation with Parsons Corporation, completed construction on the biopharmaceutical factory in Bristol-Meyers Squibb’s $750M, 300k SF manufacturing and office complex at Ft. Devens. It will make Orencia, a medicine to halt the progression of rheumatoid arthritis. To keep one of the region’s largest developments on schedule, it had the factory built in sections around the country. It took six months and 78 truckloads of tanks, pipes, platforms, and instruments to get it all to the site.

***

Suffolk Construction has been busy in climates far sunnier than its Boston home. In California, it recently broke ground on the $75M, 300k SF Los Angeles United School District High School #12 and the $28M, 75k SF LAUSD Elementary School #6. In Florida it recently completed the Aventura Hospital & Medical Center Lab #5, with state-of-the-art technology that quickly treats heart problems.

***

Organogenesis, Canton-based maker of genetically engineered replacement human tissue, expects to announce this quarter the selection of an engineering/design firm for its $63M, 54k SF factory and 46k SF of offices across the street from its current site. “We’re working with them now on preliminary design plans,” said CEO Geoff MacKay.

Acquisition

CBRE Roger Dieker represented Hutton Partners of Chattanooga in its $995,000 purchase of 6.41 acres in Ossipee, NH at the junction of White Mountain Highway and Suncook Valley Road. The site located about 50 miles northeast of Concord will house Tractor Supply and Family Dollar stores as primary anchors. Exit Realty’s Ted Bateman represented the seller, Monja Von Maxey.  

Leasing

Amcor Flexibles renewed the lease on its 45,313 SF of office and manufacturing space at 200 Homer Ave, in Ashland, repped by Cush/Wake’s Stephen Woelfel . Owner Calare Properties repped itself.

***

Cushman & Wakefield represented Saracen Properties in its 27,400 SF lease to Simpson Gumpertz & Heger at 41 Seyon St, one of two CenterPoint buildings in Waltham’s Mass Pike/Rt. 128 submarket. SGH, an engineering firm, now occupies about 100k SF in the 500k SF complex, once a Raytheon research complex.

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Colliers Meredith and Grew’s Tad Lee and Matt Daniels represented Aushon BioSystems in renewal of its 21,500 SF HQ lease at 43 Manning Road in Billerica. CBRE’s Jason Levendusky repped the landlord, RREEF.

 

JLL’s Tom O’Regan and Patrick Nugent represented an affiliate of The David Companies in its lease to Circle Surrogacy/Weltman Law Group. They took 5,696 SF on the top floor of 200 High St, a 100k SF, Class B + low rise on the corner of High and Broad streets in the Financial District overlooking the Greenway and the Harbor. Built in 1860, it was renovated and expanded in 1990.

***

French-based life science firm CYTOO leased its first US office, 1,300 SF at The Meadows 161 Worcester Rd. in Framingham. Cush/Wake’s Stephen Woelfel represented CYTOO and CBRE-New England represented the landlord, Colony Realty Partners.

Send your deals to Susan Diesenhouse, susan@bisnow.com
 
 
 
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