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Real Estate Roundup: May 4, 2016



Good morning and happy Wednesday!

Here's a summary of recent transactions and personnel news within Greater Boston's real estate community.


1.    Chevron Partners has acquired the historic Sears Crescent building in Boston's Government Center neighborhood from Copley Investments for $23.8 million. The 50,300-square-foot brick-and-beam building is fully leased to 14 tenants and is the third acquisition for Chevron Partners in Boston since 2014.


2.    CBRE has arranged $84.3 million in financing for Serenity, a 195-unit luxury apartment community that's under construction by Boston-based Longwood Group in Boston's Longwood Medical Area. John Kelly, Michael Prakken and Sam Dylag of CBRE New England's capital markets team procured financing for the buyer.


3.    The Hampshire Cos. has sold a 248,500-square-foot industrial building located at 351 Hold Road in North Andover to Atlantic Management Corp. The facility sits on 27.74 acres bordered by the Merrimack River and an active Pan Am rail line. The sale price was $13 million.


4.    Construction management firm Dellbrook/JK Scanlan has expanded its existing office space to 12,000 square feet at One Adams Place, a building located at 859 Willard St. in Quincy. Steve Woelfel and Dave Goodhue of Colliers International facilitated the transaction.


5.    Integrated Builders is expanding Two Wells Ave. in Newton by 105,000 square feet on behalf of owner Two Wells Avenue LLC. Integrated Builders will demolish 42,000 square feet of the existing 69,000 and build a 105,000-square-foot, three-story office. The project was designed by Boston-based SGA.

6.    Angela Farrell previously with Coldwell Banker and Alla Iokheles, previously with William and Raevis, have joined the real estate team at Castles Unlimited. The Castles Unlimited team is led by James Lowenstern and provides market expertise in Newton and the Greater Boston Area.


7.    Bill McLaughlin has been named executive director of the valuation and advisory group at Cushman & Wakefield in Boston. McLaughlin will head the valuation and advisory group's retail practice in New England. Prior to joining Cushman & Wakefield, McLaughlin was a partner with Joseph J. Blake & Associates Inc.


8.    MassDevelopment has hired three Transformative Development Initiative fellows to advance local redevelopment visions:

·      George Durante in Brockton

·      Jim McKeag in New Bedford and

·      Amewusika "Sika" D. Sedzro in Pittsfield

 Brockton, New Bedford, and Pittsfield are three of the 10 Gateway cities selected in December 2014 as the pilot TDI Districts in development.