The Deal Sheet
| LEASES Hello Kendall Square; welcome Pfizer. The giant pharma firm has signed a 10-year lease for 180k SF with MIT to move into 610 Main St South where construction is scheduled to be completed in '13. Pfizer says it will move in several research units from Connecticut and perhaps 400 jobs to the life science mecca in Cambridge?s Kendall Square. It already has space in Cambridge and Andover.*** | |
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| Kendall Square scored twice with the life science crowd as H3 Biomedicine took space in Alexandria's 300 Technology Square. The young life science company (that focuses on discovering drugs to fight cancer) has agreed to lease nearly 50k SF of the building's 175k SF of lab and office space. Cushman & Wakefield's Juliette Reiter and Mark Winters repped the landlord, an affiliate of Alexandria Real Estate Equities, and H3 Biomedicine.*** | |
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| New England Institute of Technology has moved into 265k SF on Division Road in East Greenwich, R.I. The former office building was converted for NEIT, which moved in phases starting early '10 and completing the relo this summer. Diversified Project Management oversaw the project.***CSN Stores has leased 200k SF of distribution space in Hebron, Ky. and Ogden, Utah. RBJ?s Jonathan Varholak, Brian Cohen, and Kristin Connelly repped the Boston-based online retailer in its expansion beyond its HQ location advising CSN on site selection, real estate, and economic incentives. *** Manufacturer Illinois Tool Works has renewed its lease for 110k SF at 825 University Ave in Norwood with an affiliate of KBS Realty Advisors of Newport Beach, Calif. The 167k SF office/R&D complex on Rte. 128 is fully leased to Tool Works and LTX Corp. Cushman & Wakefield's Mike Frisoli and JR McDonald repped the tenant and RBJ?s Brian McKenzie, John Lashar, and Rob Byrne repped KBS. *** | |
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| Miniluxe Beauty Salon and Gustare Oils & Vinegar have leased 2,478 SF and 2,733 SF respectively in Central Plaza on Central Street in Wellesley owned by Linear Retail. Both tenants expect to open late fall. Miniluxe was repped by The Diamond Group's Richard Diamond and Gustare by Equity Partners' Dennis Di Schino. Urban/ Born Associates? Annette Born and Linear?s Joel Kadis repped the landlord on both deals SALESCole Real Estate Investments paid $74M to acquire 11 Pet Smart stores in Braintree and also in California, Florida, Illinois, Maryland, Michigan, and Texas. Cole?s Kim Kundrak says the company chose these stores for their diverse locations and strong market demographics.*** Last week, Sam Park & Co and Morris & Morse Co closed on the purchase of 90 acres in Littleton permitted for 640k SF of offices. Located on Interstate 495, this is one of two major priority development sites for the town. Cisco Systems once owned the 90-acre site. *** 19 Post Road Group paid $1.4M to buy 19 Post Rd in Portsmouth, NH from Five N Associates. CBRE's Michael Tamposi, repped the buyer. Tamposi-Nash Real Estate Group's Prez William Luers repped the seller. PEOPLE Grubb & Ellis' Paul Delaney and John Coakley have joined the Boston office of CresaPartners. Both will be VPs focusing on office markets in Cambridge and the inner suburbs, including Watertown, Somerville, Medford, and Malden. They joined Grubb in '06 and since then have completed a combined total of about 200 transactions and 4M SF. *** KS Partners announced it has hired three new property management staffers: Carl Kenney, Jennifer Stynes, and Gerry Maguire. ASSIGNMENTS J.Calnan & Associates has won the contract to provide pre-construction services to Hitachi Data Systems for the renovation of 42k SF of office and R/D space at 610 Lincoln St in Waltham. The project team also includes Winter Street Architects, AHA Consulting Engineers, and JLL project management. |
