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MountainOne’s commercial lending division hires Duckett and Glynn
June 14, 2024
North Adams, MA The commercial lending division at MountainOne Bank continues to grow with the recent additions of Peter Duckett and Christopher Glynn as commercial portfolio manager and associate commercial portfolio manager, respectively.
Rockland Trust appoints Eidle as senior vice president, commercial banking center manager
June 14, 2024
Peabody, MA Rockland Trust has appointed David Eidle as senior vice president, commercial banking center manager for the Peabody office. In this role, Eidle will be leading a team of commercial bankers to expand the bank’s commercial and industrial (C&I) business north of Boston.
Commercial real estate decline: Not over yet. - by Daniel Calano
June 14, 2024
Recently, I and others have written about office vacancies, leading to loss of income, and thus potential credit problems. As noted, not all sectors of commercial real estate are in the same boat as office, which has many more problems than other sectors such as retail and industrial.
Union Savings Bank launches Rapid Loan and Line of Credit programs to help small businesses fast-tra...
June 14, 2024
Danbury, CT Union Savings Bank has introduced a new suite of Rapid Loans designed to help qualified small business owners access funding quickly and easily. The rapid product suite includes both term loans and lines of credit with a maximum loan amount of $50,000.
Challenges of restaurant valuation for appraisers - by John Nitz
June 14, 2024
During the 2020-21 COVID Pandemic, the restaurant industry struggled with at least 600 Connecticut restaurants failing during this time period, per the Connecticut Restaurant Association. As the Pandemic ended, restaurants in Connecticut began to flourish once again,
Industrial markets – 2024 - by William Pastuszek
June 14, 2024
Industrial has been a darling investment class and should continue to be, even with the following discussion which indicates moderation nationally and in Boston. This sector is highly diversified, ranging from the “Amazons” to “Main Street” industrial. The Boston market - as small as it is - has enjoyed a good run with dramatic shifts in supply, construction, pricing and rent increases.
Winchester Savings Bank elects Merritt to the board of trustees
June 14, 2024
Winchester, MA According to John Carroll, president and CEO of Winchester Savings Bank, Edward Merritt has been appointed to the board of trustees. Merritt was elected to the board for a three-year term at the bank’s annual meeting.
KeyBank Real Estate Capital secures $24 million Freddie Mac fixed-rate loan for The Dolben Company
June 14, 2024
Haverhill, MA KeyBank Real Estate Capital (KBREC) secured a $24 million Freddie Mac fixed-rate loan for The Dolben Company, Inc. to refinance existing debt on a multifamily housing property known as Pine Brook Place. Pine Brook Place is a garden-style apartment community with 240-units and consists of 10, three-story apartment buildings
Rockport Mortgage closes $10.3 million in financing for 70-units of affordable housing - Prence Gran...
June 14, 2024
Carver, MA Rockport Mortgage has closed on a $10.3 million, HUD Section 223(f) refinance loan for Prence Grant and Meadowbrook Apartments, 70-units of subsidized affordable housing for seniors located on three non-contiguous parcels of land in the towns of Marshfield and Carver.
NE Chapter of CoreNet Global honors winners and renames young leaders program at annual Awards of Ex...
June 14, 2024
Boston, MA On May 23rd, the New England Chapter of CoreNet Global honored the winners of its annual Awards of Excellence, showcasing some of the most impressive corporate real estate people (CRE) and projects in the area.
SIOR NE Chapter holds annual golf outing on May 21st at Brae Burn Country Club in Newton, Mass.
June 14, 2024
Newton, MA The SIOR New England Chapter held its annual golf outing on May 21st, at Brae Burn Country Club. It was also a joint event with Arco Construction as a charitable event for The Community Foundation of MetroWest for Workforce Development Action Project.
Development opportunities abound in the City of Warwick - by Frank Picozzi
June 14, 2024
Under a bright spring sky, elected officials, business leaders, and representatives from Wood Partners and Skydra Development were among those gathered for the groundbreaking of an estimated $65 million development project that will bring 214 class A apartment units to a formerly vacant
Synergy hires Tomadakis as senior asset manager
June 14, 2024
Boston, MA Synergy, a real estate investor, operator, and manager, has hired Rachel Tomadakis as senior asset manager. With a career spanning over 15 years in commercial real estate asset management, Tomadakis brings invaluable expertise to Synergy’s asset management team.
R.W. Holmes brings Tosca Drive
Industrial Park to 90% leased
June 14, 2024
Stoughton, MA R.W. Holmes has completed five leases, bringing the occupancy to 90% at the 212,000 s/f Tosca Drive Industrial Park. Oakland, Calif.-based Berkeley Partners hired R.W. Holmes last year as the exclusive leasing agent for this industrial, flex, and R&D park.
DiPrete Engineering provides services for 214-unit Alta Altitude
June 14, 2024
Warwick, RI A new residential development – Alta Altitude – is one of DiPrete Engineering’s latest projects. Developed by Wood Partners, it features 214 residential units, offering a mix of one- and two-bedroom apartments. The project was initiated by Schiavo
Figueroa joins Paul J. Cazeault & Sons Roofing
June 14, 2024
Plymouth, MA Ovid Figueroa has joined Paul J. Cazeault & Sons Roofing as business development director. Figueroa has received industry recognition and numerous awards including GAF for Excellence and the Presidents Club for sales volume.
The Stubblebine Co. arranges sale of three properties on behalf of IPG Photonics, Inc. for $32.855m
June 14, 2024
Marlborough, MA James and David Stubblebine, principals of The Stubblebine Company/CORFAC International, brokered the sale of three properties in MA, AL, and CA for IPG Photonics for a total price of $32.855 million. The properties total 153,858 s/f of existing office and flex space and permitted land on 16.53 acres
McGarry of O’Brien Commercial Properties negotiates 4,800 s/f lease between landlord OIM and tenan...
June 14, 2024
Acton, MA Rob McGarry of O’Brien Commercial Properties, Inc. has negotiated a long-term lease between landlord OIM and tenant Boynton Machine at 10A Craig Rd.
Quonset is a good neighbor: Jobs, open space and millions in tax relief - by Steven J. King
June 14, 2024
Quonset Business Park is New England’s premier business park, one of the largest in the Northeast and recognized as being among the top 10 in the nation. Home to 239 companies, over 14,000 people work at Quonset in a variety of industries earning $1.7 billion in annual household
Newmark represents W.P. Carey in 142,224 s/f lease to
Persimmon Tech at 35 Crosby Dr., Bedford, ...
June 14, 2024
Bedford, MA Newmark has assisted on securing a new 142,224 s/f, long-term lease for Persimmon Technologies at 35 Crosby Dr. Newmark executive managing directors Richard Ruggiero, Torin Taylor and Matthew Adams, as well as senior managing director Rory Walsh, facilitated the transaction