Front Section

O’Brien of Greater Boston Commercial Properties handles 11,000 s/f building lease

Framingham, MA Bret O’Brien of Greater Boston Commercial Properties completed a full building lease of 11,000 s/f at 518 Union St. The tenant, RCN is a telecommunications company that serves in Mass., Penn., Ill., Washington, D. C. and New York.

PROCON and DSK Architects complete 16,000 s/f Arcidi Center at Merrimack College

North Andover, MA In September, Merrimack College opened the Dr. Alfred L. Arcidi Center - the latest addition to its growing campus. PROCON was the architect of record for the project in collaboration with DSK Architecture, who is actively engaged in the master planning of the campus. 

Suffolk breaks ground on $134 million complex at UMass Dartmouth - designed by DiMella Shaffer; project financed by UMass Building Authority

Dartmouth, MA UMass Dartmouth broke ground on a $134 million housing and dining complex designed to transform the student living and learning experience on campus. The project will create 150 construction jobs. The facilities will open when students arrive for classes in fall 2020.

Cornerstone Realty Capital arranges $6.7 million financing for Merrimack Heights - delivers fully amortizing fixed rate financing structure

Hooksett, NH Cornerstone Realty Capital arranged $6.7 million in financing for Merrimack Heights. The property consists of two connected apartment buildings home to 70 apartments. The unit mix is comprised of a mix of two studios, 14 one-bedroom, and 54 two-bedroom units.

Sidor of Cushman & Wakefield earns BOMA Boston Industry Award

Boston, MA Cushman & Wakefield’s New England managing principal, Carolyn Sidor, has been named BOMA Boston’s 2018 Industry Leader of the Year. Sidor was honored at BOMA’s Outstanding Building of the Year (TOBY) & Industry Awards event.  

A failed 1031 Exchange may have tax benefits - by Bill Lopriore

An IRC section 1031 like-kind exchange started near the end of a tax year (December 31 for many) will often not be completed until the following tax year. The regulations address how to handle incomplete exchanges and cash “boot” received by the taxpayer in the following year. 

MassHousing places $23.6 million in affordable housing financing to Princeton Properties and Parse Capital

Chelmsford, MA MassHousing has closed on $23.6 million in affordable housing financing to Princeton Properties and Parse Capital. The MassHousing permanent financing supports affordability at the Mill and 3 Apartments, a 108-unit, mixed-income apartment community.

Historic Boston Inc. purchases St. James
African Orthodox Church for $1.4 million

Roxbury, MA Historic Boston Inc. (HBI) has completed acquisition of St. James African Orthodox Church, the former Norwegian Free Evangelical Church, built in 1910, and is continuing to work with the Highland Park neighborhood to determine specific new uses for the 50 Cedar St. property.

NOREL earn “Top Gun” award from Johnson Controls International

Waltham, MA At the Miami Autocall Authorized Distributor Conference, Johnson Controls International (JCI) presented NOREL with the “Top Gun” award for the highest sales of Autocall Fire Detection products. This award represents the top distributor amongst all distributors in North America for 2017-2018.

ERA Key Realty named among top places to work

Northbridge, MA ERA Key Realty Services, which has 14 offices throughout central and eastern Mass., has been named among the top places to work in the state, based on a survey administered by Energage for The Boston Globe.