The Deal Sheet
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|The Theater District is another step closer to reclaiming its former glitz and glory with yesterday's groundbreaking for Millennium Partners' $220M mixed-use residential tower at 580 Washington St.|
|The 256-unit, 15-story luxury residential building will replace the parking lot on the corner of Washington Street and Avenue de Lafayette. Once completed in '13, it will also have underground parking for 125 vehicles, and retail shops along Washington Street and Avenue de Lafayette. It was designed by Handel Architects of New York, the designers of the newly opened National September 11 Memorial and Museum. The construction manager is Suffolk Construction. Ceremonial diggers: Frank Chin, Mayor Thomas Menino, Millennium?s Chris Jeffiries,Rosemarie Sansone, Theresa Tsoi, Muhamed Warsame and Millennium?s Tony Pangaro.|
|No, you aren't seeing double. Simpson Housing broke ground Monday on the Victor, a $92M, 286-unit luxury apartment building at the northern end of the Rose Kennedy Greenway across from the TD Garden. The Denver-based developer?s first Boston project, designed by ADD Inc and being built by Suffolk Construction, includes 17k SF of retail and above-grade parking.Amenities for the building to be completed in '13 include: two rooftop lounges, a 3,000 SF health club with a sports court and gaming lounge. Officiating: Suffolk Construction CEO John Fish, MBTA acting GM Jonathan Davis, Governor Deval Patrick, MassDOT Secretary of Transportation and CEO Richard Davey, and Simpson Housing VP Patrick McMahon. *** Sturgis Public Charter School in Hyannis and the Cape Cod Lighthouse Charter School in East Harwich are building new facilities with financing from the American Recovery and Reinvestment Act of 2009 with a 100% federal subsidy. The $14Mhas come through MassDevelopment. Sturgis will use $9.7M to build a 46k SF, two-story high school academic building. TD Bankand The Property & Casualty Initiative purchased the bonds. Cape Cod Lighthouse Charter School will use $3.9M in bond proceeds to buy the former Regal Harwich Cinemas and convert it to an academic facility with roughly 18 classrooms, a main office, a large multi-purpose common space, and bathrooms. Eastern Bank purchased the bonds.|
The Brookline Development Corp is planning a $15M, 39-unitresidential building at 375 Market Street in Brighton with underground parking for 58 cars and 12 bicycles. It will also have 3,567 SF of ground-floor retail with the residences above. The site near Brighton Center will replace a large asphalt driveway and a one-story commercial building. The development team includes developer Brookline Development Corp and O?Sullivan Architects.
|Intrepid Labs, a startup specializing in alternative workspacesfor venture-backed firms, leased 10.5k SF in the American Twine Office Park at 222 Third St in Cambridge. The property, now 100% leased, features a shared conference room, shower facilities, and an on-site caf . Colliers International's Tad Lee repped landlord Transatlantic Investment Management. *** Three new leases for a total of nearly 30k SF were recently signed at Seaport West with Crimson Hexagon, a social media monitoring and analysis provider, leasing nearly 11k SF repped by Colliers International's Larry Epstein. KHJ Brand Activation leased nearly 13k SF repped by Colliers' Roger Breslin and Jeff Gates. Walsh, Jastrem & Browne, a CPA firm took 6,134 SF repped by CBRE's Bill Crean. Jones Lang LaSalle repped the landlord Pembroke Real Estate in all of the deals.|
Combined Properties' tenants renewed their leases in threeMedford buildings for a total of 26k SF on Mystic Avenue/Route 38.
General Insulation took 6,865 SF at 278 Medford St. Sherwin Williams Auto Finishes leased 5,670 SF at 312 Rear Mystic Ave and
Sonapar/North East Electrical Distributors leased nearly 14k SF at 326 Mystic Ave. Combined Properties' Greg Regazzini repped the landlord in all of the deals.
Cross Insurance did a relo within Edgewater Office Park in Wakefield leasing 13k SF at 401 Edgewater Dr repped by CresaPartners' Matt Harvey and Joe Sciolla. Wyman Street Advisors? Chip Batchelder repped the landlord of the 960k SF business complex, Hobbs Brook Management.
|Crosspoint Associates has paid $15.7M to Kimco Realty Corp for the New London Shopping Center in New London, NH. The 107k SF center, anchored by a Hannaford Bros. supermarket, is 100% occupied and sits on Route 11, a primary connector to Interstate 89. CBRE's Chris Angelone, Bill Moylan, Jim Koury, Nat Heald, and Josh Klimkiewicz repped the seller and found the buyer. *** Lincoln Essex Capital paid $7.4M to OVA Realty Trust for the 55k SF Olde Andover Village, an apartment, retail and office building in downtown Andover. NAI Hunneman?s David N. Ross, Robert Tito, and Gina Barroso repped the seller and found the buyer.|
A fund associated with O?Connor Capital Partners has purchased 70 Fawcett St in the Fresh Pond area of Cambridge (now a 140k SF, two-story office R&D building on 4.9 acres) from New Boston Fund. The property has been permitted for up to 429 residential units. O?Connor?s development team includes Cabot, Cabot & Forbes as development manager and Legatt McCall Properties as a consultant. The sale was negotiated between New Boston Fund and CC&F, which repped the buyer.
JLL announced yesterday that a group of ownership entities has hired its capital markets team to sell three single-tenant office and office/distribution properties in Windsor, Conn. near Hartford. Two properties are absolute net leased to Valassis Communications with 11-plus years remaining on each lease and annual rent escalations. The third property is net leased to Capitol Region Education Council with 3-plus years remaining. JLL?s team: Guy Ponticiello, Scott Jamieson, Michael Smith, Shawn McMahon, and Chris Ostop.