Category: Owners Developers & Managers

Cranston, RI DiPrete Engineering has promoted Brandon Carr, PE, LEED AP, Gregg Burnett and Sheryl Guglielmo to principals at the firm. Carr has been an integral part of the DiPrete team for 15 years and has played a significant role in client development and project success. In his new role, Brandon will be responsible for helping to shape the overall direction of the firm to bring greater value to our clients and team members.

Allston, MA JLL’s Capital Markets group has arranged a $750 million construction loan for the first phase of the Enterprise Research Campus, a 900,000 s/f, mixed-use development located near Harvard University. The $750 million loan represents one of the country’s largest construction loans closed year-to-date 2023.

Chelsea, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have completed the sale of 268 & 278-280 Washington Ave., a 16-unit apartment building with a parking lot for $4 million. Kelleher and Pentore exclusively represented the seller, Hhc One Massasoit, LLC and procured the buyer, Broadway Capital.

Lancaster, MA R.W. Holmes has facilitated a new 23,390 s/f industrial lease. F&M Tool and Die, a highly experienced machine shop specializing in mold making, mold maintenance, and mold repair in central Massachusetts, has secured a lease for 851 Sterling Rd.

Woburn, MA J Woburn Heights, the newest apartment community by Jefferson Apartment Group (JAG), has delivered and welcomed their first residents. The project is a joint venture with SpringHarbor Financial Group. J Woburn Heights is a 168-unit, garden-style community across four buildings on nine acres,

Quincy, MA According to FoxRock Properties, a real estate investment, development, and management firm, the next phase of Ashlar Park’s apartment community, the Skyline Building, has begun preleasing. Taking its name from the views of the Boston skyline it offers, the Skyline Building is situated on the northwestern side of the Ashlar Park campus

New Bedford, MA According to the Healey-Driscoll administration, the state closed on the sale of a 1.417 acre parcel to Cruz Development Corp., enabling the transformation of this previously state-owned property into housing. Cruz Development, a third-generation family business and Minority Business Enterprise (MBE), plans to develop the property

Boston, MA Hines, the global real estate investment, development, and property manager, has given the first reveal of the interiors of The Ritz-Carlton Residences, South Station Tower, located on the upper 16 floors of the highly anticipated South Station Tower development. The skyline-defining tower has been thoughtfully designed by global placemaker Pelli Clarke & Partners,

Cambridge, MA King Street Properties (King Street) and Healthpeak Properties celebrated the grand opening of its new life science facility at 101 Cambridgepark Dr. The 160,000 s/f laboratory property was developed by King Street in the premier life science cluster.

Fitchburg, MA Joel Aho, president of Aho Properties completed three deals recently. Aho represented ownership in the sale of a 7,200 s/f industrial/auto building on 0.39 acres at 41 Summit St. for $550,000. Aho also procured the buyer directly in an off-market transaction.

Worcester, MA Pizzarella Irrevocable Trust recently sold a 4.5-acre lot to 1059 Grafton Street LLC, that will be improving it with a car wash, including 4,000 s/f of building and a 120 foot tunnel at 1059 Grafton St. Pizzarella Irrevocable Trust was represented by NAI Glickman Kovago & Jacobs vice president, Jeff Borus.

Why are institutions buying industrial buildings at extremely aggressive cap rates? It’s all about the opportunity to move the low in-place rents up to market. This is known as a “mark to market” opportunity. While office and retail rents generally sit at or above market, industrial rents are commonly 10%-50% below market.