Sales
Eastern Real Estate announced that it has agreed to purchase the debt on Westwood Station from the failed Anglo Irish Bank and the Commonfund Realty. Originally planned to have 4.5M SF of retail, office, residential and hotel space, the project stalled in recent years. Eastern?s Daniel Doherty says Eastern looks forward to advancing the project. Westwood town officials applauded the deal. Chair of the Board of Selectmen Nancy Hyde said the town is optimistic that new ownership ?will lead to successful resumption of development.? Terms of the transaction were not disclosed.
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Avison Young, an independently owned Canadian commercial real estate services company announced yesterday that it has acquired Boston-based Essex River Ventures. ERV founder John Fenton is now a principal of Avison Young and managing director of its newest office at 52-R Roland St. in Charlestown. ERV staff staying with the new entity include: K. Beth O?Donnell, Tom Palmer, Brian Hodess, and Kathy Shepherd. Boston is Avison Young?s sixth location outside of Canada. Others are Chicago, DC, Atlanta, Houston, and Tysons Corner. It has also acquired Atlanta-based Hodges Management and Leasing Co. and Tysons Corner, Va.-based Appian Realty Advisors. Since early 2009, the Canadian firm has grown from 11 to 22 offices and from 300 to about 700 employees in 19 locations in Canada and the US.
Investment
GID Investment Advisers has invested to take an equity position and assume management responsibilities for CalPERS? core multifamily portfolios. Now, GID and CalPERS consolidated multifamily portfolio, valued at $2.9B, has 57 properties with 14,674 units. GID, meanwhile, has expanded its multifamily holdings to include 93 apartment communities with 25k units.
Leasing
Quincy Office Investors has leased nearly 30k SF at 400 Crown Colony Dr. in Quincy to Comcast, Mutual of Omaha, CareerBuilder, and Systagenix Wound Management. RBJ?s Robert Byrne, Chris Mullen, Jon Varholak, and John Lashar represented the landlord and is its exclusive leasing agent for the property.
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Campanelli Cos. has chosen Richards Barry Joyce to exclusively lease 700 and 900 Technology Park Dr. in Billerica. Last week, Campanelli announced its purchase of the 85k SF of office and R&D space. The RBJ&P team includes Brian McKenzie, John Wilson, and James Lipscomb, who will work with Campanelli?s Peter Brown.
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Choice Stream subleased 16k SF of office space from Aetna at One Charles Park in Cambridge relocating its HQ from 210 Broadway, also in Cambridge. Colliers Meredith & Grew's Tucker Hansen, Joe Flaherty, and Ben Coffin repped for Choice Stream and Jones Lang LaSalle's John Osten represented Aetna.
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ICx Technologies renewed its 17k SF lease at The Athenaeum Center, 215 First St. in Cambridge. Colliers Meredith & Grew?s Tucker Hansen and Joe Flaherty represented ICx and Cush Wake?s David Townsend were at the table for the landlord, Alexandria Real Estate.
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Campanelli Cos. recently leased 9,000 SF at 300 Crown Colony in Quincy. Forsythe Solutions Group took 3,494 SF and will relocate in November from Dedham Executive Center. Grubb & Ellis? Scott Shelbourne, Taryn Wilson, and Lance Carlton repped Forsythe.Shannon Law Associates signed on for 2,537 SF and in August relocated from One Bowdoin Square in Boston. They were represented by CBRE's Nat Kessler. Also, Transition Solutions renewed for 2,811 SF.
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Athenium leased 6,690 SF at 75 Third Ave. in Waltham. NAI Hunneman?s Michael McCarthy and Steve James represented the tenants and the Nelson Co.s? Paul Deyesso was at the table for the landlord, 75 Third Avenue LLP.
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Maverick Integration has renewed its 3,500 SF lease at 150 Bear Hill Rd. in Waltham. Boston Realty Advisors?Adam Meixner,Jeremy Freid, and Will Catlin represented Maverick and the landlord was self-repped by Leah Harsfield.
Financing
The Abbey Group announced it has secured a three-year extension of financing from Helaba Bank for the firm's 45 PROVINCE development. In 2006, Abbey Group broke ground on the 32-story luxury high-rise and secured a $120M construction loan to develop the 137 units of housing downtown.
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