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Real Estate Bisnow
The largest commercial real estate publication in the United States.
   
January 11, 2012 
 
 

Tomorrow: Bisnow’s Multifamily Summit


 

Multifamily sales masters Simon Butler (below) and Biria St. John have joined the Boston office of CBRE as EVPs. Great timing for us because Simon will be a panelist at Bisnow’s 2nd Annual Multifamily Summit, TOMORROW at the Renaissance Boston Waterfront Hotel. To join 480 of your nearest and dearest colleagues, Register here!   

 
CBRE's Simon Butler

Last Friday, CBRE announced that Simon and Biria have teamed up with Bill Moylan and Chris Angelone on CBRE/New England’s Capital Markets team. Simon and Biria came from Cushman & Wakefield, where they were executive directors. Prior to joining CushWake in ’06, both were with CBRE/New England’s Investment Properties Multi-Housing Group.

 
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The Deal Sheet

 

SALES
 
 Village Shoppes of Salem in Salem, NH.

Route 28 Salem, LP paid nearly $40M to Clarion Partners for the 170k SF Village Shoppes of Salem in Salem, NH. Located on the Rt. 28 corridor in this super-regional, tax-free market, the center is 100% occupied by tenants including: Best Buy, Sports Authority, DSW, PetSmart, and Michaels. CBRE’s Chris Angelone, Jim Koury, Bill Moylan, Nat Heald and Josh Klimkiewicz repped the seller and found the buyer.

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Cummings Properties bought Signature Office Park, Beverly

Cummings Properties bought Signature Office Park at 50 Dunham Rd in Beverly for an undisclosed price from Fifty Dunham Rd LLC. Jll’s Tamie Thompson, Scott Jamieson, and Peter Richardson repped the seller.

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Neena’s Lighting’s Raj Dhanda paid $12M for two Back Bay buildings; $7.7M for 131 Newbury St and $4.5M for 569 Boylston St. Seller Abbey Road Back Bay is a division of Abbey Road Advisors in Westport, Conn., a private real estate investment firm. Raj also owns real estate in Brookline and Cambridge and is developing a new building in Harvard Square, certainly a rarity.

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Two Wheeler Holdings, a real estate affiliate of Motorcycles of Manchester paid $4M for 1000 Washington St in Foxboro, which is 98k SF. NAI Hunneman’s Catherine Minnerly and Ovar Osvold repped the seller; Alan-Lawrence Realty Trust and Circle Properties’ John Coppola repped the buyer.

LEASING

Finard Properties has leased 5,078 SF at 419 Boylston St, a downtown relo of its HQ from suburban Burlington Woods. Colliers’ Tad Lee and Lauren Vecchione repped Finard while Cushman & Wakefield’s Jim Brady and Rebecca Galeota repped the landlord Eldridge Realty.

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KS Partners leased 8,500 SF in the building it owns at 85 Devonshire St. in downtown Boston’s Financial District repped by Cushman & Wakefield’s Tim Bianchi and Jay Driscoll. Engineers Weston & Sampson signed up for 3,650 SF repped by Colliers' Chris Lawrence. Lattice Engines added 3,800 SF to its existing 4,410 SF repped by RBJ’s Tom Ashe and Apollo Security, based in Walpole, renewed its 1200 SF lease.

ASSIGNMENTS

Skanska USA has been chosen to provide construction management services for Novartis' new $600M, 550k SF two-building lab-office project in Cambridge. Maya Lin Studio and Bialosky + Partners are the architect and design team for the master plan and building at 181 Mass Ave. Toshiko Mori Architect will design the building at 22 Osborn St. Cannon Design is the architect of record. Michael Van Valkenburgh Associates is the landscape architect. Novartis is aiming for LEED Gold certification.

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This month, Richard White & Sons will start renovating 100k SF for Chapelbridge Park Associates at their nine-building complex (55 Chapel St) in Newton. The job (to be completed August '12) includes a new fitness center, lobbies, elevators, and loading dock; an upgrade of all mechanical, electrical and plumbing systems; new windows, roof and façade work.

EXECS ON THE MOVE

Bart Mitchell has become CEO of The Community Builders, the nation’s largest nonprofit developer of urban mixed-income housing.  Bart replaces Pat Clancy who retired last month after 36 years with TCB. Bart was an economic development and housing advisor to the mayor of Boston in the ‘80s, first joined TCB in ’89 and founded Mitchell Properties in 2000. He returned to TCB in July ’10 as COO.

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Eamon Moran joined Cushman & Wakefield as an appraiser for the Valuation & Advisory Group. He’ll specialize in repping clients involved in Low Income Housing Tax Credit deals.

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Veteran commercial broker Greg Klemmer, and his brokerage team, joined NAI Hunneman. Greg will serve as an EVP and member of the firm’s management committee. He and his team will focus on the leasing and sale of suburban Boston office and industrial properties.

 
Whatta ya know, who d'ya know? Please send your news to Susan Diesenhouse, susan@bisnow.com
 
 
 
 
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