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Union plumbers and contractors urge Beacon Hill lawmakers to protect state plumbing code and build p...
May 12, 2023
Boston, MA Union plumbers, contractors and industry leaders rallied at the State House to advocate for protecting the state’s plumbing codes, build partnerships on green energy transition and petition legislators on other key safety and regulatory issues impacting the industry.
Griffith Pepdjonovic Group of Marcus & Millichap arranges $2.3m sale
May 12, 2023
Foxborough, MA Marcus & Millichap has completed the sale of the Kingswood Apartments, a 15-unit multifamily offering, according to Thomas Shihadeh, regional manager of the firm’s Boston office. The asset sold for $2.3 million. Senior vice presidents, Evan Griffith and Tony Pepdjonovic, along with associate, Jeremy Buckley, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
Plourde joins The Dunham Group
May 12, 2023
Portland, ME According to The Dunham Group, Bryan Plourde has joined the firm as a broker/sales agent. Having spent the last 10 years as a commercial real estate appraiser at Maine Valuation Co., Plourde brings an invaluable skill set to the firm. With a decade of experience appraising over $1 billion and 5 million s/f of commercial real estate in Maine, he has a keen insight into all sectors.
Bulfinch completes multiple new leases at 117 Kendrick St.
May 12, 2023
Needham, MA An affiliate of The Bulfinch Companies, Inc. (Bulfinch) has completed multiple new leases at 117 Kendrick St. along with tenants executing expansions and extensions at the property. The property has seen an increase in activity after repositioning the asset from office to life science. Recent leasing brings the building to 92% leased.
National Development begins construction of new 210,600 s/f logistics facility; Cranshaw serves as ...
May 12, 2023
West Bridgewater, MA National Development, a leading vertically integrated real estate investment and development firm, has closed on the acquisition of a 20-acre parcel located at 586 Manley St. and has commenced construction on a 210,600 s/f class A logistics facility. The building is expected to be able to accommodate tenants for occupancy in April of 2024.
Marcus & Millichap co-founder Marcus recognized with Lifetime Achievement Award
May 12, 2023
Boston, MA According to Marcus & Millichap, George Marcus, co-founder and chairman of both MMI and the private company, Marcus & Millichap Co., was recognized with a Lifetime Achievement Award on May 3rd at Hotel Indigo in Los Angeles. The recognition was presented by Connect Commercial Real Estate.
JLL handles $29.15m sale and $18.288m financing for Chases Ocean Grove on Cape Cod
May 12, 2023
Dennisport, MA JLL Capital Markets has closed the $29.15 million sale of and arranged the $18.288 million in first mortgage acquisition financing for Chases Ocean Grove, a 19.2-acre piece of land that is encumbered by 277 individual ground leases improved with seasonal cottages located within Cape Cod.
Project of the Month: Acella Construction Corporation completes $2.2 million Big Blue Swim School pr...
May 12, 2023
Methuen, MA Acella Construction Corporation, a leader in construction management throughout greater Boston, recently completed work on Big Blue Swim School at 90 Pleasant Valley St., the first of the nation-wide swim school’s franchises in Mass. A ribbon-cutting was held to officially open the facility on April 28th. The $2.2-million-project involved the complete tear down of a Stop & Shop grocery store that formerly occupied the 10,000 s/f retail space.
Busy spring for REFA
May 12, 2023
Boston, MA REFA has been busy this spring prepping for upcoming events and programs. The next education program about valuations in the commercial real estate market will be on Tuesday, June 20th, 12:00 P.M., at 101 Seaport Blvd., PwC. The panel will be moderated by Andrew Alperstein, Real Estate partner, CPA, CRE, FRICS, PwC.
Who wants to be a millionaire? - by Kyle Kadish
May 12, 2023
As voters headed to the polls last November, Massachusetts residents approved a constitutional amendment officially called “The Fair Share Amendment”. Selling real estate might subject investors to an additional tariff in their year of sale.
DBVW Architects completes North Kingstown Town Hall renovation/addition project
May 12, 2023
North Kingstown, RI DBVW Architects provided architectural, interior design, historic preservation services for the North Kingstown Town Hall rehabilitation and addition. The town hall is a c.1884, largely intact, two-story
Know the risk and proceed with caution - by David Kirk
May 12, 2023
The Fed has increased the guidance for interbank lending rate 25 basis points to 5-5.5%, again, as announced May 3, 2023. Only the minutes of the meeting to be released at a later date will record the vote to do so. Chairman Powell did add some qualifying remarks in announcing the decision which underly this decision. Pause is being discussed.
Joyce and Bill Cummings of Cummings Foundation to deliver keynote at RWU Commencement on May 19
May 12, 2023
Bristol, RI Roger Williams University is celebrating leaders of the built environment and leaders of racial justice, equity and inclusion in the legal and criminal justice systems at its Commencement ceremony on May 19.
Artificial intelligence sequel: dynamic change in one short month - by Daniel Calano
May 12, 2023
Yes, it’s correct…I wrote a story on AI last month, summarizing its impacts on real estate. But, I could not resist writing again on the subject because of the enormous growth over the last month in the industry and the continued amazing examples since then.
A year-end lookback and look-forward at real estate and equity markets - by Marc Nadeau
May 12, 2023
The valuation of marinas continues to be one of the more challenging appraisals to perform respective of the fact that they often contain multiple moving parts, so to speak. This article intends to simplify the process by outlining a succinct methodology for both the appraiser and operator alike.
Providence mayor Smiley selected as one of nation’s rising leaders by NewDEAL
May 12, 2023
Providence, RI Mayor Brett Smiley was selected as one of 22 leaders from across the country to join the NewDEAL (Developing Exceptional American Leaders), a selective national network of state and local elected officials with honorary
Cap rate trends - by William Pastuszek
May 12, 2023
Commercial markets are reacting to a higher interest rate environment and much more uncertainty than existed this time last year. Where residential properties are using comparable sales, income producing properties are best measured by their income characteristics. This is done by developing capitalization rates as the basis for comparison. “Cap” rates are most typically derived from competitive market transactions.
MacPherson of Penobscot Investment named shareholder and elected director
May 12, 2023
Boston, MA Penobscot Investment Management has named Colleen MacPherson, CFA, CDFA shareholder and has been elected a director of the company. She will continue to oversee the firm’s research efforts to identify opportunities in equities, fixed income, and other asset classes while continuing to service clients as portfolio manager.
MA-RI-ME Chapter of the Appraisal Institute hosts ATB program
May 12, 2023
Boston, MA The MA-RI-ME Chapter of the Appraisal Institute would like to thank all the panelists and other participants involved in our program “Appraising for the Appellate Tax Board – Expanding Your Scope of Work Services” held on May 3, 2023 at the Hilton Boston / Dedham Hotel. The program attracted approximately 120 attendees, making it one of the largest events organized by the Appraisal Institute Chapter in several years.
MassDevelopment issues $25.978m tax-exempt bond for affordable housing facility
May 12, 2023
Boston, MA MassDevelopment has issued a $25.978 million tax-exempt bond on behalf of Harrison Affordable LLC, an affiliate of Beacon Communities and the Chinese Consolidated Benevolent Association of New England (CCBA), which will use proceeds to build an 85-unit affordable rental housing facility at 288 Harrison Ave. in the Chinatown neighborhood. The building, dubbed 288 Harrison Residences, will be constructed on what is currently a surface parking lot serving the Tai Tung Village affordable housing community, also owned by CCBA.