Boston, MA Millennium Partners Boston has secured a $775 million construction loan from real estate investment and finance firm Cale Street Investments for Winthrop Center, the 691-foot, $1.3 billion development coming to the city. Steps ahead of others racing to integrate health and wellness features into buildings in response to COVID-19, Winthrop Center has prioritized elevated indoor air quality since its initial inception and approval in 2018 and will be built to deliver fresh air on every office floor.
Boston, MA JLL Capital Markets has closed the $72 million sale of 20 Guest St., a 228,912 s/f creative office building located adjacent to the Boston Landing neighborhood. JLL represented the seller, NB Development Group, and procured the buyer, a partnership between Griffith Properties, LLC and Artemis Real Estate Partners. The JLL Capital Markets team representing the seller included senior managing director Coleman Benedict and senior directors Kerry Hawkins and Ben Sayles.
Like most businesses today, commercial property owners are up against unprecedented obstacles. Many are left feeling that investing available funds into their properties is simply not viable. Looking for ways to maximize the value of their assets while decreasing expenses has become paramount. Transitioning properties to renewable energy systems allows commercial property owners to decrease operating expenses leading to immediate net benefits.
Wilmington, MA Ellen Garthoff of The Stubblebine Company/CORFAC International recently leased 18,000 s/f of warehouse/showroom space at 5 Waltham St. David Stubblebine and James Stubblebine, principals of the Stubblebine Co. represented the landlord, 5 Waltham St. LLC, while Garthoff, senior advisor, represented the tenant, The Granite Place.
Sutton, MA NAI Glickman Kovago & Jacobs has completed the sale of 29 Gilmore Dr. for $3.977 million. James Glickman, principal, represented the seller S+M Realty. The property was purchased by 3 P Properties LLC. The building is a modern 60,000 s/f high bay warehouse which is occupied by Koopman Lumber and Winifield United.
Franklin, MA Marcus & Millichap completed the sale of Bright Horizons, a 6,375 s/f net-leased property, according to Thomas Shihadeh, regional manager of the firm’s Boston office. The asset sold for $1.18 million. Laurie Ann (L.A.) Drinkwater, senior vice president investments, and Seth Richard, first vice president investments, of the Richard Drinkwater Retail Group in Marcus & Millichap’s Boston and Manhattan offices, had the exclusive listing to market the property on behalf of the seller, a private investor.
Bellingham, MA Atlantic Commercial Real Estate, LLC has completed the leasing assignment for the 8,400 s/f industrial garage space located at 19 South Maple St. Originally designed as a welding/manufacturing facility with numerous drive in doors, this property is another example of how a traditional manufacturing facility is being utilized to accommodate the strong industrial demand from service oriented companies.
Building owners are employing a myriad of enhancements to adapt their office settings to mitigate the transmission of COVID-19. While deep cleaning, temperature scans and other measures are all important, the latest advances in research on the novel coronavirus has led experts to evolve their thinking on priority mitigation practices. The most urgent concern is now focused on how to address airborne droplets (bioaerosols) that linger far longer in the air than was originally suspected.
Hartford, CT Dave Carswell, managing director of Largo’s Manhattan office, arranged $18 million in CMBS financing for two multifamily portfolios. Carswell secured $8.2 million for the first portfolio consisting of seven properties. The non-recourse, 10-year mortgage
Auburn, MA NAI Glickman Kovago & Jacobs facilitated the sale of the 53 site, age restricted investment property at 47 Washington St. David Eldredge, NAI Glickman’s vice president, represented the seller, WP LLC. Michael Jacobs, NAI Glickman’s
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