A New England distribution company has signed a new lease for an industrial property near Massachusetts' South Coast.
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Downeast Global Logistics LLC signed on for 107K SF at The Davis Cos.' 530 John Hancock Road in Taunton, the landlord announced Friday. The tenant plans to move into the space in August.
“This long-term lease agreement with Downeast reflects the continued strength of the industrial market and Davis’ collaborative approach to matching the most innovative tenants with the ideal spaces they need to scale,” Davis Managing Director of Asset Management David Allen said in a statement.
Davis acquired the industrial facility in 2020, at the time leased to an international logistics company.
The warehouse is located in the Myles Standish Industrial Park, a 1,000-acre campus home to Amazon, Reinhart and Americold. The John Hancock Road property sits on 11 acres and includes 32-foot clear heights and dual-sided loading docks.
SALES
Bulfinch acquired a medical office property at 70 Hastings St. in Wellesley for $12M. The seller in the deal is Grander Capital Partners. Tenants in the building include VivaSkin Dermatology and Aesthetics and Perla Pediatric Smiles. CBRE represented the seller in the deal.
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Ashland-based real estate investor Hitesh Aurora acquired The Longfellow Plaza in Marlborough for $4M, according to public records. The plaza is located at 449-451 Boston Post Road E. The property was sold by an entity named Longfellow Plaza LLC. The 30K SF property has a mix of office and retail tenants, including Longfellow Plaza Laundry and CP Tax Services.
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An entity linked to Ventas acquired the Adelaide of Newton Centre in Newton for $19M, according to public records. The property is home to 50 residential units. The Kentucky-based senior housing investor acquired the property from another national senior housing owner, Benchmark Senior Living.
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Embrace Boston acquired a 35K SF property at 33-41 West St. in Downtown Crossing for $9.5M. The property will act as a civic commons for Boston. The building is planned to include rotating art exhibitions, a cafe, a podcast and media production space, and a gathering area. Avison Young's Brandon Dickason and Jeff Gates represented Embrace. The seller was Kendall Capital.
LEASES
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Lafuente Sign & Awning signed an 8,500 SF lease at 51 Lowell St. in Peabody. The company relocated and nearly doubled its footprint from its previous headquarters at 340 Main St. in Everett.
FINANCING
The United Group of Cos. secured a $39M bridge loan for The Arbella at Bramble Hill, an active adult community in Worcester. United Group obtained the loan from Eastern Bank. The loan will be used to pay off its existing construction loan and fund remaining improvements at the property. The property includes 123 units, an 8,500 SF clubhouse, a multimedia theater, a golf simulator and a patio with a fire pit and outdoor kitchen.
CONSTRUCTION AND DEVELOPMENT
Boston developer Redgate is seeking zoning approval to demolish an office building in Marlborough to build 450 housing units. The site is home to two office buildings, one of which will remain on the site, the Boston Business Journal reported. The developer also plans to build 2K SF of retail space.
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Beth Israel Lahey Health is planning to expand its Burlington campus through a $79.5M investment, the BBJ reported. The expansion would include 36 inpatient beds, a new cardiac lab and a new CT machine.
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