Commercial Real Estate News
Construction Set To Begin On $115M Kroc Center
The Salvation Army will host a groundbreaking ceremony for the $115 million Kroc Corps Community Center in Boston’s Dorchester neighborhood Monday.
HFF Arranges $6.5M For Bay State Retail Center
The New York office of Holliday Fenoglio Fowler L.P. (HFF) has arranged a $6.5 million refinancing of Pittsfield Plaza, a 126,000-square-foot retail center in Pittsfield.
Leisure Travel Co. Firm Relocates To Wilmington
Leisure travel company World Travel Holdings (formerly National Leisure Group) is relocating and recently signed a lease for 20,810 square feet of space at 100-110 Fordham Road in Wilmington.
F&G Arranges $3M Loan For Cambridge Multifamily
Boston mortgage banking firm Fantini & Gorga has arranged $3 million in permanent financing for 881-885 Massachusetts Ave. in Cambridge, which has been owned by Abraham and Michael B. Moskow since 1971, according to data from Banker & Tradesman’s parent company, The Warren Group.
International Mattress Co. Stays Local
Mattress retailer Spring Air has leased 4,200 square feet of office space at 70 Everett Ave. in Chelsea, a short time after the company came close to going under.
Arbor Closes $4M Loan For Quincy Apartments
The 54-unit Green Realty Apartments complex in Quincy recently received a $4 million Fannie Mae loan from Arbor Commercial Funding, a subsidiary of Arbor Commercial Mortgage LLC of Uniondale, N.Y.
Margulies Perruzzi Office Awarded LEED Silver
The offices of architectural and interior design firm Margulies Perruzzi Architects has been awarded LEED Silver certification by the U.S. Green Building Council.
Broadway Loses Bay Colony In Order To Keep Seven Other Properties
Broadway Partners announced today it is ceding control over Waltham’s Bay Colony Corporate Center, which will fall into foreclosure, in order to keep control of a group of properties including 116 Huntington Ave. in Boston, as part of an agreement with Lehman Bros., its bankrupt lender.
Marcus Partners Closes Fund, Hires Manager
Boston-based real estate investment company Marcus Partners recently closed the Marcus Capital Partners Fund I and added Kyle O’Connor to the firm to manage the fund.
Judge Rules In Favor Of Bank Over Contractor In Boston Condo Suit
Winchester contractor AJ Martini Inc. is out more than $4.6 million after a Suffolk County Superior Court judge upheld a disputed state statute, protecting TD BankNorth from subordinating its construction loan to Martini on a now foreclosed-upon downtown Boston condo development.
Boston Properties Q2 FFO Beats Forecasts
Boston Properties Inc., which owns and develops office properties across the country, has reported better-than-expected second-quarter results, but lowered its full-year forecast due to weakening demand for office space.
Davis Cos. Names New Director
Commercial real estate firm the Davis Cos. of Boston recently hired Emily Cooper as director of acquisitions and fixed income investments.
Investment Firm Renews Westwood Lease
Investment firm Acumentrics Corp. recently agreed to extend its 33,857-square-foot office lease at 20 Southwest Park in Westwood.
MV Bank Gets Building Approval, Names New Sr. VP, HR Officer
Martha’s Vineyard Savings Bank recently received final approval from the Martha’s Vineyard Commission and the West Tisbury zoning board of appeals to construct a new building for its financial group at 496 State Road.
Nine Mass. Wind Energy Projects Awarded $2.2M In Grants
The Massachusetts Renewable Energy Trust through the new Commonwealth Wind Community-Scale Wind initiative has awarded grants to nine new wind energy projects totaling more than $2.2 million, according to Secretary of Energy and Environmental Affairs Ian Bowles.
St. Polycarp Village Apartments Open In Somerville
The Saint Polycarp Village Apartments in the Winter Hill neighborhood of Somerville have opened and hope to be one of the few affordable housing developments to achieve LEED Gold certification.
Private Buyer Acquires Attleboro Property For $9M
Crystal Village, a 91-unit apartment community in Attleboro, has sold for $9 million to Village Residential LLC, a private Massachusetts-based investor.
Assembly Square Gets Boost To Move Forward
A state-federal partnership has been formed to help move the Assembly Square Project in Somerville forward.
HFF Secures $25M Financing For Downtown Hub Office Building
The Boston office of Holliday Fenoglio Fowler L.P. (HFF) has secured $25 million in financing for 101 Merrimac St. in Boston’s Bulfinch Triangle neighborhood.
Travel Magazine Names Hub’s Eliot Hotel Top Small City Hotel
The results are in from the readers of Travel + Leisure magazine for the 14th annual World’s Best Awards.