This Week's Boston Deal Sheet: Waltham Industrial Site Planned For 369 Apartments
A developer has proposed a multifamily development on a former industrial site in Waltham's MBTA Communities district.
Willow Bridge Property Co. proposed a 369-unit apartment complex in the city, Banker & Tradesman reported. The company, formerly Lincoln Property Co.'s residential arm, was acquired in 2023 by Canadian investment firm Cadillac Fairview.
The property at 1362 Main St. is home to a 70K SF warehouse owned by Philip Pagliazzo Sr. Realty Trust.
The project includes a five-story building and a 549-space parking garage. The developer is seeking approval under the state's affordable multifamily zoning law Chapter 40B. Of the 369 units, 93 would be reserved for households earning up to 80% of the area median income.
The city approved Waltham's MBTA Communities zoning district in December after the town was required to rezone for almost 4,000 new housing units near two of its commuter rail stops.
SALES
Real estate firm Broder acquired a 75K SF office building at 15 Broad St. in downtown Boston for $13.5M from TA Realty, according to public records. The firm paid less than a third of the $46.1M the seller bought the property for in 2019, the Boston Business Journal reported. The buyer previously owned the Broad Street property from 2007 to 2016, later selling it to Brookfield Properties for $32.5M.
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An affiliate of Geraghty Associates bought three apartment buildings known as the Riverside Apartments in Hyde Park for $14M, according to public records. The buildings are at 752, 756 and 760 Metropolitan Ave.
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Retailer TJX acquired two office buildings in Framingham for $24.3M, the Worcester Business Journal reported. The properties are at 3 and 5 Speen St. near the retailer's global headquarters at 770 Cochituate Road. TJX also acquired the adjacent property at 550 Cochituate Road for $120M in 2019.
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TPE Solutions acquired a vacant 6-acre parcel in Devens from MassDevelopment for $720K with plans to build a 31K SF distribution facility. The project would include office, distribution, and research and development space. The company is building the space out to meet the needs of its clients. Construction is set to begin in late 2026 with completion expected in 2027.
LEASES
Juniper Development secured 46K SF in lease renewals at a two-building flex park at 144-154 Rangeway Road in Billerica. The leases were signed by LeMaitre Vascular, Hughson Electric, Hydronics Inc., Alpine Precision and General Manufacturing. The landlord is upgrading the property to make it attractive to other tenants. RW Holmes represented the owner in the transactions.
CONSTRUCTION AND DEVELOPMENT
WinnDevelopment and partner Arch Communities began construction on the mixed-income, 56-unit The Eastwalk apartment community in Braintree. The development, estimated to cost $47M, will include a five-story apartment building and a pedestrian riverwalk along the Monatiquot River. Webster Bank is acting as the construction lender for the project.
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Regis College and the University of Massachusetts are seeking developers to build out mixed-use projects on properties in Weston, Newton and Amherst, B&T reported. Regis is selling a 62-acre parcel in Weston. UMass is seeking a developer to modernize its student housing on its Amherst and Newton campuses.
