News
The Deal Sheet
January 20, 2011
| Leasing At Reservoir Woods in Waltham, three leases totaling 35k SFhave brought the 1.2M SF, 120-acre corporate campus to full occupancy. The leases: Marketing and Planning Systems has taken 17k SF (repped by CBRE's Mike Ripp); Wilmer Hale took 13k SF (repped by RBJ?s Ron Friedman and Jon Varholak); and Covalent Partners leased 5k SF (repped by W.C. Stone Real Estate's William Stone). All three tenants will move in this winter. Meanwhile, the landlord, David Marcus Partners in partnership with the Prudential, says that the Reservoir Woods site offers the possibility of another 750k SF in future development.Global Novations has signed a 20k SF, seven-year lease at 200 West St in Waltham to relo its HQ from Brighton Landing in June. FHO Partners' John Boyle, Ted Lyon, and Ryan Romano repped the tenant, a global talent development firm. Landlord Boston Properties was repped internally by Jason Fivek and Austin Barrett. Venyu has taken 9,563 SF at 200 Nickerson Rd in Marlborough in a relo from Waltham. Newmark Knight Frank's Richard Robinsonrepped the tenant. Landlord Normandy Real Estate Partners was repped by RBJ. Architects for Learning leased 4,641SF at 160 Gould St in Needham. Lincoln Property's Tim Latham and Kevin Malloyrepped the tenant and Cushman & Wakefield's Michael Moynahan was at the table for landlord TIAA-CREF. Aved Electronics has leased 36k SF of industrial space at 95 Billerica Ave in Billerica. This is an expansion of 10k SF and a relo from Lowell. The move-in is planned for April. Colliers Meredith & Grew's North Suburban team of Matthew Daniels and Brian Tisbert represented Aved. CBRE's Jason Levendusky and Mark Reardon repped the landlord, Taurus Investment Holdings. Details of the transaction were not disclosed. |
| Sales Legacy Mountain View LLC paid $4.6M for 302 Mountain View Dr in Burlington, Vermont?s Office Park at Water Tower Hill, from Stonewater Partners. Jones Lang LaSalle's Michael Smith, Scott Jamieson, and Brandon Dickason repped the seller and found the buyer. Donahue & Associates? Steve Donahue assisted in negotiations. |
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| Linear Retail Properties has paid $4.1M for 62-66 Charles St inBeacon Hill. Conviser Property's Adam Conviser repped seller 7-Eleven and found the buyer. Linear has purchased three retail properties since September.Costantino Richards Rizzo LLP paid $2M for 545 Salem St, a 12k SF office building in Wakefield, Mass. NAI Hunneman?s Michael McCarthy and David Gilkie represented the buyer. The Clark Co'sBill Clark repped the seller, Stebbins Duffy.Farley White Interests purchased 480 Pleasant St and 5 Bridge St in Watertown, two buildings totaling 203k SF from Boston Scientific for an undisclosed price. JLL's Bill Bailey and Scott Jamieson executed the sale and JLL will be the exclusive leasing agent with a team led by Daniel Kollar, Peter Bekarian, Keith Gurtler, and Brendan Cohn. |
| Financing KS Partners has restructured debt on about 1.2M SF of CRE in New England with hedge funds and various other capital partners. KS restructured and/or repurchased debt from various lenders and raised $85M in new equity. |
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| The Boston office of Holliday Fenoglio Fowler arranged $15.13 Min financing and JV equity for the Hilton Hotel & Conference Center, a 175-room hotel in downtown Scranton, Pennsylvania. HFF directors Greg Labine and Janet Krolman secured the $9.6M adjustable-rate loan for Linchris Hotel Corp through a national bank. Blue Vista Capital Partners, LLC contributed $5.5 million of JV equity. Proceeds were used to acquire the property.Heritage 195 Pleasant Street LLC was issued a $10.8 M tax-exempt bond by MassDevelopment to buy and renovate The Heritage Apartments in Malden, affordable housing for seniors 62 and older. Renovations include converting studio apartments to one-bedroom units; repairing balconies; replacing the heatingsystem with a more energy-efficient model; and installing new energy efficient windows, Energy Star-rated refrigerators and stoves, and water-efficient plumbing fixtures. The bond will preserve 156 units of affordable housing for seniors earning less than 60% of area median income. Wainwright Bank purchased the bonds. |
