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Manufacturing excellence - by Lynn Tokarczyk and Kathie Mahoney
May 5, 2023
The manufacturing industry plays an essential role in Massachusetts’ economy but faces several issues that prevent uninhibited growth. The pandemic led many manufacturing employees to pursue alternate paths. Some found virtual positions, others sought new careers, and many left the workforce completely to care for children whose daycares had closed due to pandemic restrictions, all of which left notable gaps on the production floor.
Pentore, Friedel and Klockner of Marcus & Millichap broker sale of 385 Main Street - 28-unit apartme...
May 5, 2023
Hartford, CT Marcus & Millichap has sold a 28-unit apartment property. “Multifamily product in downtown Hartford has outperformed expectations. 385 Main, a well-located asset within the Central Business District with historical significance and outstanding curb appeal, will benefit from this positive momentum,” said Eric Pentore, senior vice president investments.
The Bulfinch Companies and the Boston Women’s Workforce Council begin partnership
May 5, 2023
Boston, MA The Bulfinch Companies, Inc. has begun a new partnership with the Boston Women’s Workforce Council (BWWC), committing to eliminating the gender/racial wage gaps. Bulfinch has signed BWWC’s 100% Talent Compact, a pledge to help remove visible and invisible barriers to women’s advancement.
Gilkie of R.W. Holmes negotiates
17,801 s/f lease for 9 Centennial Drive
May 5, 2023
Peabody, MA R.W. Holmes has negotiated a lease for 17,801 s/f of office space at 9 Centennial Dr. David Gilkie, senior vice president at R.W. Holmes, represented the property owner, B&H Peabody Property, LLC, and procured Regus-IWG as a tenant. Located in Centennial Park, 9 Centennial Dr. is 74,801 s/f of office, lab, and R&D space.
North Easton Savings Bank hires McGilvray as business development officer
May 5, 2023
Plymouth, MA North Easton Savings Bank has hired Carol McGilvray as business development officer for the Plymouth area. McGilvray has served 18 years with Plymouth Area Community Television. Her experience engaging with the local area will aid in the bank’s current expansion throughout the South Shore.
WAC exits $2.35m mezzanine debt with sale of luxury home
May 5, 2023
Greenwich, CT Worth Avenue Capital, LLC has exited $2.35 million in mezzanine debt in a transaction. WAC’s sponsor was a luxury home builder who has built numerous homes in desirable neighborhoods and has been a “blue chip” customer of WAC for the last several years as a repeat borrower.
Nohrden of Burgess Properties brokers $2.4m sale of 12,494 s/f industrial building
May 5, 2023
Malden, MA Burgess Properties, LLC has brokered the sale of 1130 Eastern Ave. for $2.4 million. The 12,494 s/f building on 0.44 acres had been used as a recycling facility for years prior to sale. The visible property is on Rte. 60 near MBTA bus. 1130 Eastern Ave. LLC, a subsidiary of Malden-based United Properties purchased the property.
BECMA awards $10,000 to KB-MAC for electric vehicle kickstarter program
May 5, 2023
Boston, MA The Black Economic Council of Massachusetts (BECMA) awarded $10,000 as a part of its electric vehicle (EV) kickstarter program to KB-MAC, a Dorchester-based electric contractor born from a partnership with the International Brotherhood of Electrical Workers (IBEW) Local 103 and National Electrical Contractors Association (NECA) to bring greater diversity, equity, and inclusion to Boston’s union construction industry.
Alvarado of SVN | Parsons Commercial Group completes
$1.7 million office/medical building sale
May 5, 2023
Waltham, MA SVN | Parsons Commercial Group | Boston has completed the sale of an 8,500 s/f office/medical building on approximately one third of an acre at 42 Weston St. to A-Trac Computer Sales & Services for $1.7 million. Senior advisor, Marci Alvarado of SVN | Parsons Commercial Group | Boston represented the seller, Research Realty, LLC. Jordan Berns and Tyler Capecci of 128 CRE represented the buyer, A-Trac Computer Sales & Services, in the transaction.
Stejskal of The Peabody Companies participates in CREW panel discussion
May 5, 2023
Braintree, MA Megan Stejskal, director of compliance at The Peabody Companies, participated in a recent virtual panel discussion on Affirmative Fair Housing compliance presented by the Boston chapter of Commercial Real Estate Women (CREW). Stejskal addressed the Affordable Fair Housing Marketing Plans and Tenant Selection Plans during the March 30th panel discussion at the CREW Housing and Community Development Committee virtual event.
Gray, Gray & Gray ranks 7th largest independent accounting firm in New England
May 5, 2023
Canton, MA Gray, Gray & Gray, LLP has been ranked as the seventh largest independent accounting firm in New England by Accounting Today, the accounting industry’s foremost publication. Gray, Gray & Gray’s annual revenue of $29.5 million represents a rate of growth of almost 10 percent over the previous year.
The Stubblebine Company arranges $12.4m sale of 101-107 Scott Dr. to NE Wire Products
May 5, 2023
Leominster, MA David Stubblebine and James Stubblebine, principals of The Stubblebine Company/CORFAC International, coordinated the sale of 101-107 Scott Dr. between HK Shah LLC & RNP Shah LLC, the seller, and New England Wire Products, the buyer. The sale price was $12.4 million.
New amenities lead to new leases at Clarion Partners’ Merritt 7
April 28, 2023
Norwalk, CT After completing over 100,000 s/f of leases over the past 12 months, Merritt 7 Corporate Park will soon begin work on a new fitness center and conference center, the latest amenity upgrades at the 6-buliding, 1.4 million s/f property
The NRP Group breaks ground on 401-unit apartment community in Jersey City
April 21, 2023
Jersey City, NJ In partnership with Rockwood Capital, Citizens Bank and Fifth Third Bank, National Association and G&S Investors, The NRP Group, a vertically integrated, developer, builder and manager of multifamily housing, has broken ground on a 401-unit multifamily apartment development
JLL Capital Markets arranges $16.65 million refinancing for West Palm Beach office
April 21, 2023
West Palm Beach, FL JLL Capital Markets has arranged a $16.65 million refinancing for Courthouse Commons, a fully leased office building totaling 85,660 s/f
Verada leases 5,900+ s/f retail space for Rock Spot Climbing
April 21, 2023
New Haven, CT Verada said that Rock Spot Climbing has signed a new 15 year lease for 5,935 s/f in total at 44 Olive St. The development, Olive and Wooster, features 299 residences for lease and 8,000 s/f of retail space on Olive St. in Wooster Sq. across the street
ICON Architecture designs 53,340 s/f performing arts center
at 201 Main Street - Nashua Center ...
April 28, 2023
Nashua, NH Boston-based ICON Architecture has been the lead architect for the Nashua Center for the Arts, the newly completed 53,340 s/f performing arts center, art gallery, and event center at 201 Main St. The center was created as part of a local economic development effort by the city and will begin hosting performances, art shows, and events beginning April 1st.
Northeast Private Client Group represents $2.2m sale of two mixed-use properties
April 28, 2023
Holliston, MA Northeast Private Client Group (NEPCG) has completed the sale of 85 Central St. mixed-use property in Holliston and 185-187 Main St. mixed-use property in Maynard, Mass. Senior associates Drew Kirkland, Francis Saenz, and Jim Casey represented the sellers and procured the buyers for both transactions.
LEGO Discovery reveals 20-foot giraffe
as part of $12 million renovation
April 28, 2023
Boston, MA LEGO Discovery Center Boston revealed an all-new 20-foot giraffe as part of the attraction’s refurbishment. The creation took features 22,000 LEGO DUPLO bricks. The LEGO Discovery Center, opening this spring, unveiled the new colorful giraffe as part of the $12 million renovation.
Stallkamp of The Boulos Company brokers $4.25m deal for Baywood Hotels
April 28, 2023
Portsmouth, NH Baywood Hotels, a leading hotel management and development company, has purchased 165 Deer St., Lot 3 for $4.25 million from Foundry Place Hotel, LLC. The Boulos Company’s Christian Stallkamp brokered the deal on behalf of the seller.