Workforce management solutions company Kronos has plans to relocate its HQ, and is ready to spend a healthy sum to modernize its new digs.
The company is entering a 12-year lease at Cross Point Towers in Lowell with building owner Anchor Line Partners, and plans to invest more than $40M to modernize a 400k SF open space facility that occupies 13 floors. Kronos, which has enjoyed a recent growth spurt, plans to relocate from its Chelmsford HQ by mid-2017.
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Leasing
Sign company MyWord is moving its operations from Dracut, and has signed on for a 24k SF lease at 1 Aegean Dr in Methuen. NAI Hunneman repped landlord PGA Realty, while Stubblebine Co negotiated on behalf of MyWord.
A JV of Saracen Properties and Artemis Real Estate Partners has appointed CBRE/New England as exclusive leasing agent for Mill & Main, a 1.1M SF, first class brick-and-beam office park in Maynard.
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Sales
NY-based US Realty Advisors has acquired 5 Omni Way in Chelmsford from Griffith Properties and Echo Bridge Partners for $32.5M. The 131k SF office building will be the future home of a Comcast regional call center and executive hub.
NGKF has negotiated the $21.6M sale of the Carriagetown Marketplace in Amesbury to Phillips Edison Grocery Center REIT II. The 65k SF center was constructed in 2000, and was 99% leased at the time of sale to a roster of tenants that includes Stop & Shop, Supercuts and Verizon.
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Financing
CBRE/New England’s Multifamily Debt & Structured Finance Group has secured a $28.15M loan on behalf of CPC Cornerstone Development to construct a condo development with a ground-floor restaurant at 14 West Broadway.
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This and That
Lab space is getting scarce in the Greater Boston area. That’s the word from Transwestern RBJ, which has released its bioSTATus – Year End 2015 report. The report finds that the availability rate for lab space hit an all-time low of 5.4% at the end of 2015.
The Church of the Immaculate Conception at 771 Harrison Ave in the South End may be reborn as The Cosmopolitan, a 63-unit condo project from developer Ronald Simons, who has filed plans with the BRA.
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Imagine Boston 2030 has outlined four key goals for Boston’s future:
To provide quality of life in accessible neighborhoods.
To promote a healthy environment and adapt to climate change.
To drive inclusive economic growth.
To invest in infrastructure, open space and culture.
The group released its proposed goals in anticipation of the city’s expected growth over the next 15 years.
