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SUFFOLK GETS MASS COLLEGE; THE DEAL SHEET

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SUFFOLK GETS MASS COLLEGE; THE DEAL SHEET
Another win for Suffolk Construction. Its specialized education team,Suffolk Education, will manage building of the $61M Mass College of Art and Design Residence Hall on Huntington Ave.
Suffolk Construction's Ann Marie Jennette, Tom Swain and Jim McCoy
Perhaps remembering their college days is the project team: Ann Marie Jennette, Tom Swaim, and Jim McCoy. The 21-story, 493-bed dorm will include a new health center and seek LEED Silver. But this isn't all MassArt will build. Other capital projects slated for the next several years are a new media center, a campus center , and renovated galleries. For the dorm, the developer is the Massachusetts State College Building Authority and the architect is ADD Inc. The two-year construction project will start in June.

SUFFOLK GETS MASS COLLEGE; THE DEAL SHEET
Yesterday, a ground breaking on the Greenway celebrated the soon-to-start construction of a new $5.7M pavilion to greet visitors to the Harbor Island. On hand for the ceremony hosted by Boston Harbor Island Alliance were Boston Harbor Island Alliance president Thomas Powers, Rose Kennedy Greenway Conservancy exec director Nancy Brennan, MassDOT CEO Jeffrey Mullan, Mayor Thomas M. Menino, Congressman Michael Capuano, Executive Office of Energy and Environmental Affairs' David Cash, Boston Harbor Islands National Recreation Area, National Park Service superintendent Bruce Jacobson, and Boston Harbor Island Alliance board chair Joel Reck. By spring 2011 when it opens, the Pavilion designed by Utile with Reed Hilderbrand, will be a gateway to the national park with maps, information, and rangers to guide visitors.
LeasingLincoln Property Company said on Thursday that it leased 25,200 SF at 33 Arch St. to CoStar for its regional office and the operations of recently acquired PPR and Resolve Technology. LPC?s John Miller and Jeffrey Moore represented CoStar and CBRE's Timothy Lyne and Lauren Phelan Lipscomb were at the table for the landlord, a JV between AREA Property Partners and SITQ.***

Systems Maintenance Services leased 36,747 SF at 2 Cabot Rd., Hudson near the intersection of I-495 and I-290. LPC?s Tim Latham and Kevin Malloy represented SMS and Newmark Knight Frank's Jim Thompson negotiated for the landlord, New Boston Fund.

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Jackson Lewis renewed and expanded to 19,500 SF at 75 Park Place. UGL Equis? Christopher Wood, Adam McCostlin, Robert Cleary, and Derek Losi represented the law firm. The landlord, The Druker Company, was self-represented by Harold Dennis. Chris says his team was able to secure ?significant? lease flexibility, good concessions, and ?generous? TI.

Waltham River's Edge, LLC, leased 29,906 SF of industrial space at 594 Pleasant St., in Watertown from American Venture 594 Corporation. Thomas Aitken of Grubb & Ellis represented the landlord. John Nealon of WJ Nealon Commercial Realty, Inc. represented the tenant.

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Randstad Professionals US extended its lease of 23,437 SF of Class A office space at 10 Presidential Way in Woburn from American Tower Corporation. Jack Kerrigan and Steve Cook of Grubb & Ellis represented the landlord in the transaction. Ron Perry and Roger Breslin of Colliers Meredith & Grew repped the tenant.

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MicroTek renewed its lease of 11,436 SF of Class A office space at 25 Mall Road in Burlington from Equity Office Properties Trust. Steve Cook of Grubb & Ellis represented MicroTek in the transaction. Ron Friedman of Richards Barry Joyce & Partners repped the landlord.

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Kadant, Inc. extended its lease of 9,946 square feet of Class A office space at One Technology Park Drive in Westford from The Gutierrez Company. Jack Kerrigan and Steve Cook of Grubb & Ellis facilitated the transaction on behalf of both parties.

Honors

Last week, CoStar released is 2009 Power Brokers list including dozens of Boston individuals and firms. A spokesman for the research firm said the list is an example of some top people and companies. Some who are dominating their market are: Leasing: JLL, CBRE, Cush Wake, Richards Barry Joyce. Sales: Cushman & Wakefield, CBRE, JLL, HFF. Leasing brokers - Office: LL?s Bill Barrack and FHO?s J. Duncan Gratton. Retail: Atlantic Retail?s Ben Starr, KeyPoint?s Donald Mace and Dartmouth Company?s Melissa Fitch. Industrial - CBRE's Edward Jarosz and Jeffrey Hamilton.

Find the complete list of winners here.

Sale

Coleross James bought the Colonial Arms Apartment complex in Framingham for $2.7M from 3&5 Beaver Park, LLC. NAI Hunneman?s Carl Christi and Dan McGee represented the seller and found the buyer for the two 18-unit buildings.

Assignments

Lincoln Property has been retained to sell a 72,312 SF auto dealership in Foxborough on 22 acres across from Gillette Stadium.Michael Edward and Mark Norton will market the site at 53 Washington St. and in June its current occupant, Rodman Ford, Lincoln-Mercury will relocate one mile down Rt.1.

Corporate

Jones Lang LaSalle jumped to the plus side of the ledger, reporting Q1 net income of $0.2 million, a big improvement over its loss of $61M in the year ago period. Q1 revenue was $581M, up 12% in local currency from Q1 '09, driven by increased activity across all operating segments.