Category: Owners Developers & Managers

Osterville, MA Horvath & Tremblay has completed the sale of four retail properties in New England for a total of $5.655 million. Bob Horvath, Todd Tremblay and Aaron Huntley of Horvath & Tremblay completed the sale of Citizens Bank in Osterville.

North Chelmsford, MA Acella Construction Corp. has completed the Geico Insurance field office at 23 Drum Hill Rd. The project, which was completed within an eight-week schedule, required demolition and renovation of a former D’Angelo’s restaurant. The new 2,317 s/f Geico

Cambridge, MA Abbot Building Restoration is nearing completion of a masonry repair and waterproofing project involving 14 interconnected four-story occupied office buildings located at 25 First St. in the Kendall Sq. section of the city. The buildings consist of solid, multi-wythe brick exterior walls with precast and granite windowsills and steel lintels.

Burlington, MA Surus Development & Construction, LLC has broken ground on a new 120,000 s/f self-storage facility for affiliated company, Jumbo Capital Management, LLC. The project, financed by Cambridge Savings Bank, represents the fifth such facility developed by Jumbo and the first with ground-up construction managed by Surus. 

Plymouth, MA Barkan Management Company has secured management contracts for two communities in southeastern New England. Starting November 1st, Barkan will provide financial services for Louisquisett Country Club condominium association, a 409-unit community in North Providence, R.I. They will also provide the full spectrum of management services to Boatwright’s Loop District landowner’s association, an 82-unit townhome and single home community within The Pinehills, in Plymouth. 

Everett, MA The 127 technical and maintenance workers at Encore Boston Harbor have voted to become members of IBEW Local 103. Some of the job titles at the casino that participated in the vote include slot machine technicians, A/V technicians, electricians and fire control center dispatchers. The vote was 95% yes in favor of forming the union.

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.