Boston
Construction to Break Ground on Salem’s New MBTA Intermodal Station
The Massachusetts Bay Transportation Authority (MBTA) announced it will close its Salem rail station for more than one year as a complex renovation project is underway. As reported by Boston.com, the MBTA Salem station parking lot will be replaced with a $37 million facility, a five-level parking garage with up to 700 spaces and a pedestrian bridge from Washington Street.
Equity, Blackstone Sell New England Executive Park for $216M
The New England Executive Park, a 10-building office park in suburban Boston with more than 1 million square feet and approved for another 750,000 square feet of new development, was acquired for $216 million by Charles River Realty Investors and National Development.
Hines Breaks Ground on Luxury Apartment Community near Boston
Hines’ newest luxury multifamily project in the Boston area kicked off this week at 36 River Street in Waltham, MA. Located just 10 miles west of downtown Boston, 36 River will create new high-quality housing opportunities for the city while supporting area businesses and community development along the Charles River.
A Green District Emerging in Allston
After getting the green light from the Boston Redevelopment Authority (BRA), The Mount Vernon Company is preparing to break ground on a $17 million residential complex at 75 Brainerd Road in Allston. Called The Icon, the project is part of the Green District, which will be the largest privately funded, multifamily community in this Boston neighborhood.
Tech Co. Buys 760 KSF Office Campus from Harvard
Athenahealth has acquired the historic 11-building, 760,000-square-foot Arsenal on the Charles office campus in Watertown, Mass., from Harvard University for $169 million.
Jefferies LoanCore Provides $60M Mortgage for Hingham Shipyard Retail Center
The Debt & Equity Finance team of CBRE/New England has negotiated $60 million in first mortgage financing with New York-based investment bank Jefferies LoanCore on behalf of real estate development company Samuels & Associates. According to Citybizlist, the loan will be used to secure The Launch at Hingham Shipyard, a transit-oriented shopping center located at 349 Lincoln Street at Shipyard Drive, on the former site of the historic World War II naval shipbuilding.
Class A Office Building Breaks Ground in Somerville; Private Investors to Open Alcohol Distillery in Hingham
Rockville, MD-headquartered Federal Investment Realty Trust is one building away from completing the first phase of Assembly Row, a $1.6 billion redevelopment effort in Somerville that aims to create a new, 45-acre neighborhood.
Schneider Electric’s Fifth Research and Development Center to Open in Andover
Schneider Electric, a France-based energy technology company which employs over 130,000 worldwide, will add another facility to its network of research and development hubs that includes Grenoble (France), Bangalore (India), Monterrey (Mexico) and Shanghai (China).
Nauset Completes Rental Building in Cambridge; Developer Eyes Seaport District for Large Multifamily Project
Nauset Construction, a real estate development company based in Needham, recently finished converting the former Holmes Building in Central Square in downtown Cambridge into 21 rental units. The $3.5 million redevelopment project was designed by The Architectural Team (TAT) for owner Central Square, LLC, and called for interior and exterior renovations of the former C-shaped, seven-story office building located on Massachusetts Avenue.
BRA Approves $150M Housing and Retail Development in Allston
The Boston Redevelopment Authority (BRA) board voted unanimously in favor of a $150 million mixed-use project that will redevelop a 2.67-acre parcel of land owned by Harvard University at the intersection of North Harvard Street and Western Avenue in the North Allston neighborhood.