Capstone Properties has picked up a 107k SF fully leased office building in Burlington for a cool $24M.
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The company has acquired 128 Corporate Center at 70 Blanchard Rd from E&F Realty Associates. Avison Young repped the seller.
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TrueNorth Capital Partners has acquired the 156-unit age-restricted Westwood Glen apartment community in Westwood for $34.4M. CBRE/New England repped the seller and procured the buyer.
Leasing
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Seaboard Folding Box is relocating its HQ from Fitchburg to Westminster after signing on for 189k SF at 100 Simplex Dr in the Route 2 Commerce Park. The property is owned by a JV of Hackman Capital Partners, Calare Properties and KBS Real Estate Investment Trust. The Stubblebine Co repped both the landlord and the tenant.
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Sage Therapeutics has inked a deal to lease 19k SF at 245 First St in Cambridge, a 173k SF, 18-story office building that is part of the Cambridge Science Center. Transwestern RBJ repped Sage, while NGKF repped landlord Jamestown.
Financing
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NorthMarq Capital has arranged a $50M refi of Franklin Village, a 303k SF grocery-anchored, mixed-use property at 250 Franklin Village Dr in Franklin.
This and That
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A JV of Berkshire Group and The Hanover Co has started construction on Domain Foxborough, a 248-unit, 500k SF community at 1 Fisher St that's scheduled to deliver in late 2017.
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Normandy Real Estate Partners and Harbinger Development have plans in the works for a 225-room hotel plus as much as 25k SF of retail on a 1.2-acre parcel near the Haymarket MBTA stop.
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Demandware is planning to expand its HQ at 5 Wall St in Burlington from 116k SF to 181k SF. The expansion project will be completed in phases and is expected to begin in early 2017. The company was recently acquired by Salesforce in a $2.8B deal.
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