THE DEAL SHEET
|In the struggling I-495 market, good news is always welcome, and the 51k SF renewal by Crossbeam Systems in Boxborough certainly qualifies.|
|On Wednesday, Richards Barry Joyce announced that the security platforms provider for high-performance networks will stay in the 150k SF building at 80 Central St., above. RBJ is the building's exclusive leasing agent and RBJ?s Brian McKenzie led the team that repped for landlord, KBS Realty Advisors. FHO?s Kevin Hanna was at the table for Crossbeam.|
|LeasingSiliconValley Bank has leased 32k SF at 275 Grove St. at Riverside Center in Newton for its New England HQ. On Sept. 1, it will move into the new space and leave One Newton Executive Park. Jones Lang LaSalle's Phil DeSimone and Alex Dauria repped for the bank, which signed a 10-year lease. JLL?s Keith Gurtler and Brendan Cohn were at the table for landlord EOP. Covering all bases, JLL?s project and development services and construction teams will manage the project and the construction. *** |
Boston Realty Advisors leased 5k SF at 745 Boylston St. from Upland Capital. GVA Thompson Hennessey?s Peter Bean and Colin Greenhalgh repped for the landlord and BRA represented itself. It relocated from 715 Boylston St. to move into the Class A building where the retail faade was renovated last month.
Paramount Partners' Deborah Meyers negotiated the sale of 32 Nelson St., Plymouth for $1.35M. She and Coldwell Banker represented the buyer and seller. She also sold 49 Obery St., Plymouth for $750k. Deborah represented both the seller and buyer, who intends to use the site to develop offices and medical condos.
On Monday, Boston Scientific won approval from the city of Quincy for tax incentives to invest $55M in its building at 500 Commander Shea Blvd. - $30M in the building and $25M in new equipment. If the state approves the TIF, Boston Scientific?s exemption from increases in city property taxes will rise to 32%, up from 16%.
CGK Realty Corp., Malden received a $475k commercial mortgage loan from MassDevelopment to finance improvements to a manufacturing plant at 205 Maplewood St. that it leases to an affiliate. The affordable long-term financing will help CGK upgrade the faade and heating system.
Tomorrow Bierbrier Development will hold the grand opening of its expanded Arlington Village Shops, now 25k SF. Berbier did a 9k SF addition to the existing shopping center in the town of the same name. Unleashed by Petco leased 5k SF and the rest of the space was taken by Hair Cuttery and The Meat House. The addition will be LEED certified.
Watermark Cambridge, a rental apartment building in Kendall Square, announced that it has received LEED Gold EB, O&M. The 23-story, 321-unit residence developed by Twining Properties and designed by CBT Architects was built in ?06. Green features include an envelope with specially coated glazing, high-quality insulation and large, operable windows. All materials used there, like flooring and paint, now meet LEED standards while 70% of waste and over 95% of durable goods are recycled or re-used.
Moody?s/REAL Commercial Property Price Indices rose 1.7% in April, the first such monthly rise since January. Still across the country, prices are 41.1% below their peak of October ?07 but 4.7% above their trough of October '09. It's difficult to assess whether prices have stabilized since few trades have been made, said Moody?s Nick Levidy. In April, there were 114 repeat sales for nearly $800M, down from 127 sales in March.
Cushman & Wakefield announced Tuesday that it will share information with Trepp, which provides CMBS and commercial mortgage information, analytics and technology servicing to banks and investment managers. Cushman's CRE data will be used by Trepp?s Foresight Analytics division to provide clients with CRE analysis and forecasting for domestic and international markets later this year via Trepp.com.
Ann Beha Architects announced Tuesday that Philip Chen has been named principal after 18 years of design, management, and technical work for academic, cultural, and civic clients. The projects that he's leading include work for the University of Chicago, Penn State University, the State House, and at Rhode Island?s historic Fort Adams.
Tim Bailey recently joined Margulies Peruzzi as an architect and is now working on interiors for Forrester Research?s new corporate HQ in Discovery Park, Cambridge and cosmetic upgrades to conference rooms for Foley Hoag?s Boston office. Rui Ribeiro has joined the firm as an architectural designer. His responsibilities include design development and construction docs using Autodesk Revit.