| Sales JP Morgan is reportedly poised to pay about $215M for the controlling interest in the former Sun Microsystems campus at Network Drive in Burlington's Northwest Park to equity partner CarVal Investors.*** DivcoWest is buying four Seaport District buildings for $105M: 51 Sleeper St, 300 A St, and 313 and 330 Congress St. The San Fran-based real estate company is also seeking to purchase and redevelop the Middlesex County Courthouse building not far from Kendall Square. In March, DivcoWest bought the 220k SF Davenport Building in East Cambridge for $79M. *** |
| US Realty Advisors paid an affiliate of the RREEF Funds $31.5M for 68 Elm St and 5 Parkwood Dr (above) in Hopkinton. The 198k SF of office/R&D space is the HQ for Caliper Life Sciences, a subsidiary of PerkinElmer. US Realty plans to add 61k SF: 40k SF of offices and 21k SF of warehouse space. Cushman & Wakefield’s Rob Griffin, Ed Maher, Matthew Pullen, and JR McDonald repped the seller, and colleague Jay Wagner secured acquisition and expansion financing. |
| The Davis Cos sold One and Three Burlington Woods (above) to a core-plus, value-added institutional investment fund on Friday for an undisclosed sum. The 268k SF property is 97% leased, up from 64% leased when TDC purchased it in ’10, TDC says.*** WATCH THIS SPACE … Beacon Capital is seeking to sell One Beacon St for what could be $450M to more than $500M. In ’06, Beacon paid $423M for the 1.2M SF trophy now being marketed by Cushman & Wakefield. |
| DEVELOPMENT AvalonBay has reportedly agreed with Delaware North Cos to build a multifamily tower over the TD Garden where the Celtics and Bruins play and in the air rights over the Nashua Street garage owned by the MBTA. FINANCING Boston Properties raised about $79M in a stock sale to help finance its purchase of the majority share of a $340M, 522k SF retail/office complex in San Francisco’s SoMa neighborhood from TMG Partners and Rockwood Capital. The project, now under construction and already 85% leased, should be completed mid-’14. *** HFF arranged $80M in financing for three Class-A, interconnected suburban office buildings with 458k SF on the Reservoir Woods West Campus in Waltham. It secured a seven-year, fixed-rate loan through MetLife Real Estate Investments for the borrower, an affiliate of Davis Marcus Partners. Renovated in ‘06, the buildings are fully leased to six tenants, including Fresenius Medical Care and PerkinElmer. The entire office park has 1.2M SF on 120 acres. The HFF team was led by Riaz Cassum, Lauren O’Neil, and Robyn King. LEASING New England Development has leased restaurant space in Chestnut Hill Square, which is under construction, to Seasons 52 and Brio Tuscan Grill for their first locations in the state. Other tenants at the shopping center, set to open fall ’13, also include: Wegmans Food Markets, Club Equinox, and medical offices. |
| Suffolk Construction will manage construction of State Street‘s new $125M HQ, at One Channel Center in the Seaport, owned by a JV of AREA Property Partners and Commonwealth Ventures. It includes: a 525k SF, 11-story core and shell office building and above-ground parking for 950 cars, the 72k SF New Park and the 9,000 SF Iron Street Park. ADD Inc is designing the offices and Spalding Tougias Architects, the parking garage. Construction is scheduled for completion in 2014.*** State, city and education officials cut the ribbon on MassArt’s new $61M residence hall on Monday. The 21-story tower designed by ADD Inc is 145k SF with 493 beds and also has a health center. The project’s development team includes MassArt, MSCBA, and Suffolk Construction. EXECUTIVE MOVES Kurt Ehlers has been appointed managing director of Corvias Group's new student housing division, Corvias Campus Living. Kurt was previously EVP of Corvias' military housing division, Picerne Military Housing. |
| Lend Lease has brought on Jay Russo as director of business development for its Boston office. Jay has more than 20 years of experience in CRE, most recently as founder of Boston Common Solutions, a consulting firm. |
The Deal Sheet
Continue reading this story with a free account
Log in or register
Related Topics:
330 Congress St
, ADD Inc
, AREA Property Partners
, Beacon Capital
, CarVal Investors
, Chestnut Hill Square
, Commonwealth Ventures
, Corvias Campus Living
, Corvias Group
, Davis Marcus Partners
, Delaware North Cos
, East Cambridge
, Ed Maher
, Fresenius Medical Care
, Jay Wagner
, JR McDonald
, Lend Lease
, MetLife Real Estate Investments
, Network Drive
, Northwest Park
, One Channel Center
, Picerne Military Housing
, Reservoir Woods
, Rob Griffin
, Rockwood Capital
, RREEF Funds
, State Street
, Suffolk Construction
, Sun Microsystems
, TD Garden
, The Davis Cos
, The San Fran
, Three Burlington Woods
, TMG Partners
, US Realty
, US Realty Advisors
, West Campus
)
)
)
)
)
)
)
)
)
)
)
)