Category: Owners Developers & Managers

While some of us may think that the pandemic has required us to put aside the future and focus on the present, I believe that our use of remote technology over these past several months may have developed a future plan for participation. As I look back on 2020, we were and continue to establish a plan for the future… it’s just hard to see it as it is unfolding.

Boston, MA 2020 has thrown us one crazy loop after another and we have worked to dodge each one as they have come! Typically we would be gathering together for our annual Giving Thanks Giving Back gala to raise funds for Boston Medical Center’s The SPARK Center through a silent auction, raffle, and donations. But this isn’t a typical year.

Wilbraham, MA Paul Bongiorni of SR Commercial Realty was the sole agent in the sale of a mill-style industrial property at 176 Cottage Ave.  The property was formerly the Collins Manufacturing Company, which once produced paper for writing and currency. More recently, it was home to a plastics manufacturing company and other small businesses. 

Manchester, NH North Branch Construction has begun work on renovations to two properties in the city owned by Families in Transition-New Horizons (FIT-NH). The renovations, made possible by funds received through the CARES Act, will allow FIT-NH to respond more effectively to operational limitations due to the COVID-19 pandemic and provide assistance for food insecurity and homelessness in the future.

While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here’s what not to do: 1. Miss the 45-Day Identification Deadline: Upon closing on relinquished property, you have 45 days to identify in writing what you intend to acquire in the exchange.

Brockton, MA A settlement has been reached on a court challenge that was holding up redevelopment of the historic Brockton Furniture Building, clearing the way for 55 new apartments in a transforming downtown neighborhood, according to  mayor Robert Sullivan.

Waltham, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have completed the sale of two, four-unit multifamily buildings for $2.587 million.  The property at 177-181 Robbins St. sold for $1.3 million ($325,000 per unit) and 221-223 Brown St. sold for $1.287 million ($321,750 per unit).

Devens, MA King Street Properties, one of the largest owners of lab space in the U.S., has launched a new initiative named Pathway which will provide life science tenants with customizable, flexible, biomanufacturing space. The launch came at a project kickoff ceremony which included elected officials and the CEO of MassDevelopment. 

Danvers, MA Nordlund Associates, Inc. negotiated the $392,500 sale of 100 Conifer Hill Dr., suites 305-306. The asset consists of a 2,550 s/f office condominium.  Nordlund represented the seller, Castagna Real Estate Development LLC, and the buyer, R.C Griffin, Inc., in the negotiation.

Lancaster, MA MassDevelopment has issued a $17.08 million tax-exempt bond on behalf of Doctor Franklin Perkins School (Perkins), a nonprofit human services provider and school serving children and adults from across New England.

Boston, MA According to A.W. Perry, Susan Perry O’Day has been appointed president of the company. O’Day becomes the 10th president of this privately held real estate firm established in 1884 by Alonzo Perry and follows in the footsteps of the late Rich Beal.

Pembroke, MA The Conrad Group has negotiated the sale of a five-building, 70,000 s/f industrial park located at 708 Washington St. Two of the five buildings are leased and three are currently empty.  The buyer, an entity of Dynavac headquartered in Hingham