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Fenway Center Breaks Ground; The Deal Sheet

Fenway Center Breaks Ground; The Deal Sheet
The first step of the $450M Fenway Center project broke ground today, just as Meredith Management's John Rosenthal told us it would last week at Bisnow's Health Care Breakfast & Schmooze.
Meredith Management's John Rosenthal
We snapped John as the breakfast crowd dispersed. Today, work got underway on the approximately $12M state-funded reconstruction of MBTA's Yawkey commuter rail station. It's a critical feature of Fenway Center that has taken seven years to launch and in which John is partnering with Red Sox owners. Once complete, the $450M complex is planned to have 1.3M SF, including: parking for 1,300 cars, 330 residences, 370k SF of offices, 100k SF of retail, 30K SF of park and green space, bike storage, a day care center, and community space.
Leasing

Five tenants
signed nearly 83k SF of new leases at 255 State St. with Cushman & Wakefield repping the landlord, Pembroke Real Estate.
  • Sappi Fine Paper North America will move into 32k SF. They were repped by Cushman & Wakefield's Debra Gould and William Anderson.
  • Silver Bridge Advisors, financial advisors, took nearly 16k SF and were repped by RBJ?s John Barry.
  • Ruberto, Israel & Weiner, a business law firm, took 15.6k SF and was represented by Grubb & Ellis? Matt Godoff and Karyn McFarland.
  • PAN Communications leased 15k SF in a relo from 300 Brickstone Square in Andover. In June, it will occupy most of the 8th floor of the 12-story, 231k SF waterfront building. CresaPartners' Rick Lowe, Joe Doyle, and Joe Sciolla repped PAN, and Cresas? Barry Dube and Amy Unangst will oversee the build out and relocation planning.
  • Catougno Court Reporting leased 4k SF represented by FHO Partners' Lauria Brennan.
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Ipswitch Inc. leased 35k SF of office space at 83 Hartwell Ave. in Lexington, relocating from 10 Maguire Rd. NAI Hunneman?s James Boudrot and Brendan Daly repped the software maker. The landlord, Farley White Interests, was represented internally by Rob Connors and Sam Altreuter.

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Harvest Power leased 8k SF from Berkeley Investments in Phase I of the Watch Factory Offices in Waltham. Harvest is moving from 610 Lincoln St. in the same town. Berkeley is transforming the historic 400k SF manufacturing complex into a mix of offices, loft-style apartments, and retail with riverfront amenities. Phase 1 (160k SF) of renovated brick and beam office space, is now 70% leased.

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EvaluatePharma USA opened their new US HQ on Broad Street welcomed on Wednesday by Mayor Menino. At the event, the mayor also welcomed three other life tech companies that moved to Boston this year : Kowa Co. from Japan, Intelect Medical from Cleveland, and Novophage from Cambridge.

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Philips International has announced three retail leases at Allendale Shopping Center: Simmons Lifestyle Furniture took 15k SF, Steven's World of Flooring took nearly 15k SF, and Aroma Bar and Grill signed on for 4k SF.

Construction

Suffolk Construction has opened a new National Healthcare Group with its HQ in Nashville, Tenn. In the past five years, Suffolk has delivered more than 500 healthcare projects nationwide with an estimated total value of $2.5B.

People
Fenway Center Breaks Ground; The Deal Sheet
We snapped new Synergy Investment COO Stephen Brodsky(center) with NewburyLine?s Vin Norton and Building Impact?s Lisa Guyon last week at NAIOP's gala. Stephen will be responsible for all aspects of real estate operations, including leasing, management services and finance/accounting. He had run Grubb & Ellis? office here since ?03 through April.***Jones Lang LaSalle announced that Richard Fahey joined as a managing director to rep tenants, owners, and investors in real estate planning, analysis, market positioning, and implementation on the leasing team. He will focus on representing mid-size portfolio companies in the delivery of multiple services across markets. Rick was a founding partner of FHO.

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Keller Augusta has created a new unit, Institutional Services Group, to focus exclusively on placement of senior-level executives earning $200k plus at development and investment companies. Hillary Hatch Graves, a former managing director of Commonfund Realty, heads the group.