Northeast Real Estate Business

MAY 2018

Northeast Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Northeast United States.

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16 • May 2018 • Northeast Real Estate Business M A S S A C H U S E T T S BUILDING Quality, Value, and Trust • Design Build • Preconstruction Services • Construction Management • General Contracting • Roof Raising AVAILABLE SPACE Contact us today to learn more. (302) 323-9300 • 405 E. Marsh Lane, Suite 1, Newport, DE 19804 200 Anchor Mill Road Twin Spans Business Park, New Castle, DE • Existing • Flex/Office/Warehouse Space • 16,000 SF Available Immediately Dockview Drive Delaware River Industrial Park, New Castle, DE • Located next to the Port of Wilmington • Ideal for manufacturing, R & D or Laboratory • Build-To-Suit 66,000 SF • 6.5 Acres • Warehouse, Office 616 Pulaski Highway, Bear, DE • For Development • Anchored Center with Pad Sites • 103,350 SF • 11.36 Acres • Ideal for Grocery Store, Bank, Restaurant, Convenience Store and Drug Store Concepts • Full Approved. Shovel Ready 500 Water Street Newport Industrial Park, Newport, DE • 14,080 SF; Clear Height 23'8'' • Logistics/E-Commerce/Manufacturing Space • Located in the Newport Industrial Park • 7,957 SF Office/6,105 SF Warehouse • Kitchen, 2 Conference Rooms, Dedicated Warehouse Office Area • 1 Loading Dock, 1 Drive In • Located 1 half mile from I-95/2-95 Interchange JLL BROKERS SALE OF 188-UNIT APARTMENT COMMUNITY IN SUBURBAN BOSTON FOR $53.6M NORTON MASS. — JLL Capital Markets has bro- kered the sale of East Main Apartments in Norton for $53.6 million. Campanelli Construction built the 188-unit multifamily community in 2017. Mi- chael Coyne, Travis D'Amato, Kevin Gleason and Brendan Shields of JLL arranged the sale on behalf of Campanelli and Thorndike Development. The buyer was Jones St. Investment Partners. Ameni- ties at the Class A apartment community include a swimming pool, outdoor kitchen with grills, fitness center and an expansive clubhouse. The property is located 40 miles south of Boston. NAI HUNNEMAN BROKERS $4.3 MILLION MULTIFAMILY SALE IN BOSTON'S SOUTH END BOSTON — NAI Hunneman's Capital Markets Group has arranged the sale of a 10-unit brown- stone building in Boston's South End neighborhood at 665-667 Massachusetts Ave. for $4.3 million. The property is made up of five one-bedroom and five two-bedroom units. Carl Christie and Dan McGee of NAI Hunneman represented the undisclosed seller and procured the buyer, High Street Properties. The property features access to public transportation via the Silver Line stop on Washington Street. COLLIERS BROKERS SALE OF 185-UNIT APARTMENT PORTFOLIO IN SUBURBAN BOSTON FOR $45.2M WAKEFIELD AND ACTON, MASS. — Colliers In- ternational has brokered the $45.2 million sale of a two-community, 185-unit apartment portfolio out- side of Boston. The two apartment properties are located at 105-109 Hopkins St. in Wakefield and 117 Central St. in Acton. The properties offer close prox- imity to the MBTA commuter rail stations in Wake- field and Acton, respectively. Colliers represented both the buyer, OBP Partners, and the seller, True North Capital Partners, in the transaction. CBRE ARRANGES 135,000 SF OF LEASES AT OFFICE PARK IN SUBURBAN BOSTON CHELMSFORD, MASS. — On behalf of Tritower Financial Group, CBRE/New England has secured three new office leases totaling 75,659 square feet and one lease renewal for 59,670 square feet at 300 Apollo Drive in Chelmsford. The property is locat- ed 34 miles northwest of Boston. Recent transac- tions include a 29,033-square-foot lease signed by the HCL Corp.; a 23,833-square-foot lease signed by software company By Appointment Only; and a 22,793-square-foot lease signed by US Alliance Federal Credit Union. Axis Communications, an IP networking solutions company, renewed its 59,670-square-foot lease. Tritower Financial, the owner of the property since 2014, recently made sig- nificant upgrades to the building's amenities. The upgrades include a full service café, a game room and a fitness center with Peloton bikes and showers. TRAMMELL CROW BREAKS GROUND ON 240-UNIT APARTMENT COMMUNITY IN SUBURBAN BOSTON WRENTHAM, MASS. — Trammell Crow Residen- tial has broken ground on a 240-unit apartment de- velopment in Wrentham, approximately 30 miles south of Boston. The complex, which will be called Alexan Wrentham, will anchor a 50-acre mixed-use development with restaurants, a hotel and an as- sisted living facility. The property is adjacent to the Wrentham State Forest, which offers miles of hiking and biking trails. Slated to be completed in the fall of 2019, the community will feature one-, two-, and three-bedroom units with stainless steel appliances, tile back splashes and hardwood flooring. Ameni- ties will include a 7,000-square-foot clubhouse, fit- ness center, pet park and outdoor pool. Trammell Crow is serving as developer and general contractor for the project. NKF CAPITAL BROKERS SALE OF 112,148 SF OFFICE BUILDING IN SUBURBAN BOSTON ANDOVER, MASS. — NKF Capital Markets has brokered the sale of 150 Minuteman Road in An- dover, Mass., to Bentall Kennedy on behalf of one of its clients. The 112,148-square-foot Class A office building is fully leased to Smith & Nephew, a glob- al medical technology company. The asset is one of seven buildings comprising Minuteman Park, a master-planned suburban campus totaling 1 million square feet of Class A office space. The park is 26 miles north of Boston, directly off Interstate 93.

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