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December 30, 2016 January 5, 2017 SECTION B
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2017 FALL | 2018 WINTER
2018 New England Industrial Development Resource Guide
Spring
Featuring an in depth directory of CCIM members along with an updated compilation of industrial parks, sites and buildings in New England.
Jan. 27-Feb. 2, 2017 Section C
New England Commercial Real Estate Semi-Annual Guide Brendan Greene
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Keith Wentzel
Fantini & Gorga
Saul Feldman
Feldman Law Office
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Wellspeak, Dugas & Kane
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Route 128 & I-495
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USA $3.95 December 22-28, 2017
Calare Properties completes sale of 301 Page Street for $12 million NE COVER A
A Christmas Wish NE PAGE 13A
Carol Todreas, Todreas Hanley Associates
Charterhouse Development acquires Rite Aid Pharmacy for $3.054 million RETAIL COVER B
RETAIL LOWER COVER B
CBRE/New England leases 28,893 s/f to Target in Porter Square nerej.com
Sign up for Daily RE Cap! Visit nerej.com/newsletter Volume 56 • Issue 51
This Week’s Sections Front Section Retail Trends & Developments Billboard
Spotlight 2017 Retail Top Projects RETAIL PAGES 9-16
Coming Next Week! Columnist
Rick Haughey
2017 Annual Review
Inside Front Cover
December 22-28, 2017
New England Real Estate Journal
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Boston Market Portfolio Space for lease
85 DEVONSHIRE STREET, BOSTON, MA 3,800 SF Available
262 WASHINGTON STREET, BOSTON, MA Up to 13,000 SF Available
Matthew Twombly 617-250-7597
[email protected] Justin Dziama 617-366-1004
[email protected] Michael McElaney 617-993-0733
[email protected]
Matthew Twombly 617-250-7597
[email protected] Justin Dziama 617-366-1004
[email protected] Michael McElaney 617-993-0733
[email protected]
225 FRIEND STREET, BOSTON, MA Up to 22,000 SF Available
141 PORTLAND STREET, BOSTON, MA Space Available in 2018
Matthew Twombly 617-250-7597
[email protected] Justin Dziama 617-366-1004
[email protected] Michael McElaney 617-993-0733
[email protected]
Matthew Twombly 617-250-7597
[email protected] Justin Dziama 617-366-1004
[email protected] Michael McElaney 617-993-0733
[email protected]
Almost 1 Million Square Feet in transactions in 2016, on track to execute 1 Million Square Feet in transactions by end of 2017 $5.5 Million paid in commission in 2016, anticipating a total of $6 Million by end of 2017 $6 Million in recently completed capital projects in 2016 and another $7 Million in progress before end of 2017
BOB HOLMES Senior Vice President
978-560-0564
December 22 - 28, 2017 Volume 56 • Issue 51
Quick Read BW Kennedy celebrates topping off of KSP’s 145,000 s/f lab building 119,000 S/F CLASS A PROPERTY IS CORPORATE HEADQUARTERS FOR BOSTON INTERIORS
Calare Properties completes sale of 301 Page St. for $12 million
SEE PAGE 8A
NAI Hunneman handles 111,656 s/f lease to EMS in Myles Standish Park
SEE PAGE 10A
Calare Properties has completed the sale of 301 Page St. for $12 million. Built in 2004 as the corporate headquar ters, retail and distribution space for long-term tenant Boston Interiors, the 119,000 s/f class A property Bill Manley is maintained and features 36-foot high ceilings, a rare offering in Greater Boston’s industrial market. Calare purchased the asset in an off-market transaction in April of 2016. “301 Page St. stands as a prime asset in the Metro South region, where premium high bay warehouse space STOUGHTON, MA
301 Page Street - Stoughton, MA is scarce, and demand continues to rise,” said Bill Manley, CEO and CIO of Calare. “Calare is pleased to have successfully positioned this
CBRE/New Farrelly, Johnson and Dancoes of Cushman & England leases Wakefield broker $6.6 million building sale 28,893 s/f to Target in Porter Sq.
unique opportunity to a buyer who will benefit from having a trusted, long-term tenant in place.” Boston Interiors, a well-established regional furniture brand, occupies the entire building for its warehouse, retail and distribution operations, with a lease commitment of over 12 years. The property is situated on
J. Calnan & Associates, Inc. has named vice president Trull as partner According to J. Calnan & Associates, Inc. (JC&A), one of New England’s leading construction management firms, vice president Scott Trull has been named Partner. Trull has been with JC&A for ten years, managScott Trull ing teams on more than 250 corporate office projects of all sizes. His commitment to clients and dedication to the successful outcome of every project has directly contributed to JC&A’s ability to cultivate repeat relationships with high profile clients including Amazon, Parexel, Boston Properties, EMC, Pegasystems, Reebok, GE, SanDisk, Polycom, Philips, and Liberty Mutual to name a few. Trull also has extensive experience in the academic sector. Over his 20 years in the industry, he has worked on projects for universities such as Towson University, University of Pennsylvania, Harvard University, and his alma mater Brown University. QUINCY, MA
Cushman & Wakefield has completed the sale of 472 Amherst St. for the building’s owner, BSP Cotton Road, LLC, an entity related to Brady Sullivan Properties. The property was purchased by Pinnacle Properties, a privately held real estate investment firm, for $6.6 million. Pinnacle Properties plans to redevelop and upgrade the property to address the increased demand for flex and service retail space. Situated on 7.68 acres, 472 Amherst St. is made up of two single-story multi-tenant flex buildings totaling 98,595 s/f. The complex is accessible from the F.E. Everett Tpke./Rte. 3 via Exits 7, 8, 10 and 11 and offers visibility from Rte. 101A. NASHUA, NH
SEE LOWER COVER OF RETAIL/SEC. B
3 Sections 64 Pages Editorial Page........................... 4A R. Haughey............................... 4A Referral Network..................11A CCIM.........................................15A SRA...........................................16A Retail................................... SEC. B Top Projects........................ 9-16B Billboard.............................SEC. C nerej.com
The property is 10 minutes from the Mass. border, and less than an hour from downtown Boston and Logan International Airport. The Nashua Airport and downtown Nashua are close to the development. 472 Amherst St. boasts a number of amenities in the area including restaurants, hotels, daycare, healthcare and fitness services, financial institutions and retail. Executive director Tom Farrelly, director Sue Ann Johnson, and senior director Denis Dancoes of Cushman & Wakefield working with Charles Panasis, Ben Kelley and James Tobin of Brady Sullivan Properties represented BSP Cotton Road. For full story visit nerej.com
17 acres and includes 10,000 s/f of office, 9,000 s/f of showroom and 100,000 s/f of high bay warehouse space. 301 Page St. is fully heated and climate controlled, with 16 dock-high doors, two trash dock doors, and 113 surface-level parking spaces. “The asset quality, location and heated Boston industrial market created significant capital appreciation in a very short timeframe,” said Charles Nolfi, managing director of Calare. “We are pleased to provide our investors such substantial investment returns in less than two years of ownership.” 301 Page St. is situated in a dense warehouse, flex and retail market with such notable brands as Amazon, Ikea, Target and BJ’s in the vicinity. The property is located in the Rte. 128 submarket, 16 miles south of Boston. The site also features access to Rte. 24, providing accessibility throughout the region.
He has been instrumental in furthering JC&A’s existing relationships in both the higher education and the secondary school markets through their work with Boston College, Bentley University, Babson University, Tufts University, MaldenAcademy, Phillips Academy, Notre DameAcademy,The Park School,The Guild School, Shady Hill and Newton Country Day School. “Scott’s business acumen, passion for JC&A, and work ethic can only be matched by his personal character and unwavering commitment to always doing the right thing. His elevation to Partner reflects his achievement, contributions, and accomplishments within our organization, as well as the industry as a whole,” said COO Mike Crowther. “I am honored to join the partners at JC&A as we continue building this first-class organization. The firm has always operated with the highest integrity, putting the client’s needs first at every turn, and committing to the development of its employees. Being able to impact JC&A’s growth and strategy from the partnership level is very exciting,” said Trull.
New England Real Estate Journal
Inside Cover A December 22 - 28, 2017
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Chelsea Works! Experience the Location, Convenience, & Value of Chelsea, Massachusetts. Visit www.ChelseaWorks.com!
Location:
Convenience:
Value:
Unique location with direct access to Rt. 1 and the Mystic/Tobin Bridge. Minutes to I-93, Boston, Cambridge, & Logan International Airport
Free on-site parking. Excellent access to public transportation with MBTA bus and rail service less than a block away
Just minutes to Boston yet so much more affordably priced at $5 to $9 NNN
172 Williams Street
First-Class Industrial Space Available 36 Auburn St. | 14,399 SF This flex/industrial space is great for a contractor, plumber, electrical supplier or similar user. First floor includes private offices, a breakroom, storage/cooler area with washable walls and ceilings, floor drains, and 2 loading docks including a garage drive-in.
36 Auburn Street
172 Williams St. | 21,035 SF This first-class industrial space is ideal for warehouse, assembly, or wholesale use. The premises has four loading docks and a clear height of 22 feet. Space also includes two private offices and free off-street parking.
5 Minutes to Boston
Logan Int’l Airport
Contact: Greg Regazzini, VP, Director of Leasing | Combined Properties
[email protected] | 781.321.7800, ext. 318
1
Tobin Bridge
Chelsea
Combined Properties, Inc. | 25 Riverview Business Park | 300 Commercial St. | Malden, MA 02148 | 781.321.7800 | www.combinedproperties.com
New England Real Estate Journal
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December 22 - 28, 2017 1A
Specialization • Expertise • Results
Maximizing Results Through Unparalleled Experience Below is a Sampling of Our Recent Closings
AVAILABLE
AVAILABLE
AVAILABLE
Development Site Cambridge, MA | Unpriced
Starbucks Anchored Center Shopping Strip Vernon, CT | $4,650,500
Development Site Natick, MA | Unpriced
UNDER CONTRACT
UNDER CONTRACT
UNDER CONTRACT
REPRESENTATIVE PHOTO
Crossroads Shopping Center Shopping Strip Feeding Hills, MA | $2,528,000
Dollar General Net-Leased Columbia, SC | $1,318,000
Walgreens Net-Leased Oneida, TN | $5,483,333
UNDER CONTRACT
CLOSED
CLOSED
REPRESENTATIVE PHOTO
Development Site Miami, FL | $7,900,000
Dover Market Plaza Shopping Strip Dover, MA | $3,865,000
Dollar General Net-Leased Pineville, LA | $1,431,000
To access the largest exclusive inventory in the country, contact the market leader.
Laurie Ann (L.A.) Drinkwater, CCIM
Seth J. Richard
First Vice President Investments Director, National Retail Group
[email protected] Boston | (617) 896-7230
First Vice President Investments Director, National Retail Group
[email protected] Manhattan | (212) 430-5164
OFFICES THROUGHOUT THE U.S. AND CANADA
NY & CT Broker of Record: J.D. Parker (212) 430-5100 MA Broker of Record: Tim Thompson (617) 896-7250 LA Broker of Record: Chris Shaheen (225) 376-6750 FL Broker of Record: Kirk Felici (786) 522-7000 TN Broker of Record: Jody Mckibben (615) 997-2900 SC Broker of Record: Drew Babcock (803) 678-4900
WWW.MARCUSMILLICHAP.COM
New England Real Estate Journal
2A December 22 - 28, 2017
nerej.com
KinlinGroverCommercial.com
Cotuit
$6,400,000
On Cotuit Bay, 11.78 acres with magnificent views & private beach frontage. Subdividable. John Callahan 508.737.1322
Cataumet
$5,000,000
Mixed-use, including retail, office, Residential apartments, storage units & garages. Jim Fox 617.529.8616
Bourne
$3,595,000
20,000 sf office building on 4 acres, expandable by 10,000 sf, or lease at $15.50/sq ft NNN. Ben Edgar 508.776.2635
Wareham
$1,395,000
6,800 sq ft restaurant building, almost turnkey, 206 seats, 1.1 acres at stoplight. or for lease. Ben Edgar 508.776.2635
Buzzards Bay
$799,000
East Wareham
$759,000
Wellfleet
$749,000
North Eastham
$699,000
Brewster
$685,000
Yarmouth Port
$587,000
Hyannis
$447,000
Harwich
$429,000
Orleans
$339,000
South Dennis
$229,000
Eastham
$2000 NNN
Eastham
$900 NNN
New Downtown Gateway District 4 + acre site. Mixed use zoning Town sewer. Jim Fox 617.529.8616
Mixed use 2100 sqft medical/office, two 2 br condo units, possible financing. Nat Santoro 508.240.0334
Visibility @Orleans rotary, GB zone fixer/tear down 2520 sq ft/mixed use possible. Nat Santoro 508.240.0334
Commercial office building with 10 units, 38 parking spaces, and water views. Doug Azarian 508.360.4600
2500 sq ft Auto Business. Equipment included, spray booth, frame machine, 2 post lift, mig welder. Sandy Clarke 413.531.4458
Office Condo 2490 sqft: 6 offices, conf rm, more Central location/possible lease/purchase. Nat Santoro 508.240.0334
Iconic Abiyoyo shop in downtown Wellfleet. Sale includes building & business. Kathleen Nagle 508.349.9800
Existing lodging business and real estate. Licensed for 12 boarders and 3 apartments. John Callahan 508.737.1322
For Lease: Central location 1634+ sqft office/ retail, open space display windows, storage. Nat Santoro 508.240.0334
Sports Bar Route 6: Seats 142, full liquor, town water. Creative financing possible. Nat Santoro 508.240.0334
Medical office, 5 exam rooms, ADA compliant, CH-1 Zoning. Call for details. Nat Santoro 508.240.0334
For Lease: High visibility 770+ sft corner office/ retail display windows, bsmnt storage. Nat Santoro 508.240.0334
A Consultative Approach to Commercial Real Estate and Businesses
New England Real Estate Journal
nerej.com
December 22 - 28, 2017 3A
COLLABORATIVE CULTURE RELATIONSHIP FOCUSED DEFINED EXPERTISE
ED
ED
ED
S LO
S LO
S LO
C
C
C
KFC and Taco Bell Rindge, NH $1,050,000
Bank of America Hooksett, NH $1,032,000
ED
Epping Plaza Epping, NH $4,130,000
ED
S LO
ED
S LO
C
S LO
C
CVS New Haven, CT $9,950,000
C
Taco Bell Greenville, SC $2,710,000
Denny’s Colonial Heights, VA $1,136,363
ED
ED
S LO
ED
S LO
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S LO
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Burger King Clayton, NC $2,050,000
Transactions
760
in 28 States
C
Wendy’s Monaca, PA $1,700,000
Fresenius Medical Center Neenah, WI $4,900,000
Closed
Ranked
in Recent Transactions
Industry Leading Team
$3,100,000,000
#1
www.Hor vathTremblay.com 600 Market Street – Suite 686 | Lynnfield, MA 01940 | Main: 781-776-4000 | Fax: 781-823-0245 |
[email protected]
New England Real Estate Journal
4A December 22 - 28, 2017
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Rick Haughey
Multifamily REAL ESTATE INVESTMENTS DESIRED Seeking to acquire multifamily and commercial properties in Eastern Massachusetts and Southern New Hampshire We are looking for: • Multifamily, Retail, Office, Medical and Flex Buildings • Investment Size of $2M - $15M • JV Recapitalizations / LLC Interests • OREO Principal-to-Principal | Brokers Protected Inquire or send info confidentially to: Brett Levy
RIVERSIDE PROPERTIES, INC.
27 Mica Lane #201, Wellesley, MA, 02481 (781) 237-8880 x19
[email protected] | www.riversideprop.com
KING & NEWTON Proof NE NY Tel: 781-878-4540 REal EstatE JouRNal
COMMERCIAL REAL ESTATE New Proof Proof Approved Changes Section: from: run Date:
Email:
www.KingNewton.com Client:
of Massachusetts
Certified Commercial Investment Member Thomas R. King, MAI, CCIM
Thomas R. King, MAI
Brokers Consultants Appraisers 155 Maple Street, Suite 306 Springfield, MA 01105
413-732-2300 NE NY Tel: 781-878-4540
What apartment features do renters want for 2018? Whether you are building a new apartment complex or breathing new life into vacant property and adapting it for multifamily housing, understanding what it will take to make potential tenants sign on the dotted line is critical. Is having two master suites more important than secure resident parking? Is a lack of reliable cell service or absence of a package locker really going to deter renters? The National Multifamily Housing Council/Kingsley 2017 Renter Preferences Report, the largest-ever survey of apartment renters which includes insights from more than a quarter million respondents, set out to uncover not just what renters want – but what they won’t rent without. As 2018 approaches, these are the key apartment features, community amenities and factors impacting leasing decisions that developers and property managers should have on their radar. Renters want fitness centers, even if they don’t use them. While 82% of renters across the U.S. are interested in having a fitness center at their community, 41% of renters with fitness centers rarely or never use them. That said, fitness centers do rank as the fifth most in-demand community amenity and those interested in having one expect to pay $31.75 in rent each month to have it. Package storage amenities aren’t just important during the holidays. While UPS and USPS are projecting record-setting package delivery volumes this holiday season, package lockers are important for renters throughout the year. 57% of renters surveyed were highly interested or interested in package lockers. Nearly half of renters surveyed (47%) receive at least three packages per month. Reflecting a shift in how buildings receive and store packages, Amazon announced earlier this year that it would be working with apartment developers throughout the U.S. to install its Hub by Amazon package lockers, negating the need for a doorman to sign for and watch over deliveries. CONTINUED ON PAGE 13
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Published weekly for $139 per year by East Coast Publications 17 Accord Park Drive, Unit 207, Norwell, MA 02061 Periodicals postage paid at Norwell, MA and additional mailing offices. $4.00 Single Copy, $5.00 Special Issue. Subscriptions are non-refundable Publication #ISSN 0028-4890 | USPS #378-860 | Vol. 56, No. 51 Mailing Address: P.O. Box 55, Accord, MA 02018 Express & Overnight Mail: 17 Accord Park Drive, Unit 207, Norwell, MA 02061 Phone: 781-878-4540 | Toll Free: (Outside Mass.) 1-800-654-4993 | Fax: 781-871-1853 www.nerej.com POSTMASTER: Send address changes to New England Real Estate Journal, P.O. Box 55, Accord, MA 02018 or 17 Accord Park Drive, Unit 207, Norwell, MA 02061 REPORT AN ERROR IMMEDIATELY New England Real Estate Journal will not be responsible for more than one incorrect insertion. Disclaimer: The views expressed by contributing writers are not necessarily representative of the New England Real Estate Journal.
Real estate Financing * Condominium Conversions * Construction Loans
* Interim Loans * 2nd Mortgages
* Subdivisions * Sale of Mortgages * Letters of Credit For four decades, we have participated in providing short-term commercial real estate financing. Continually, we have met the needs of our clients and have adjusted to the marketplace with creative alternatives. We offer: • Quick Response and Closings • No “red tape” • Expert loan review by real estate professionals experienced in all facets of real estate; from development to management
call Richard Bendetson at (617) 227-0893, ext 655, Samantha Bendetson, ext 691 or call Brian Sopp, ext. 663 for more information
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AC C ES S EXC EL • P RO S PER S H ARE
2017
December 22 - 28, 2017 5A
AWARDS OF EXCELLENCE
Congratulations to all of our 2017 award winners and thank you to all the attendees of our sell-out event recognizing the extraordinary talents and accomplishments of our colleagues.
A special thank you to our Premier Sponsor, Cresa, and to all of our 2017 Event Sponsors.
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Call for nominations opens in February 2018. Showcase your Best New Workplace and Real Estate Executive at our next Awards of Excellence.
6A December 22 - 28, 2017
New England Real Estate Journal
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Protection from infection no accident in health care construction A popular line thrown out by those and held classes with carpenters in the field. edge skills to ensure health care providlooking to denigrate unions is that “they The curriculum, in part, includes teachers offer the best care during and after the may have had a purpose years ago, but ing “awareness of hazards, including asbestos, project is complete. not anymore.” They also like to say that lead, mold, silica, and other materials, as well Nonunion contractors may save a few there is no difference between union and as blood-borne pathogens and other hospitaldollars on the bid documents, but lack nonunion construction. specific concerns. Trainees learn how to identify of training, questionable access to reli The lie is clear when you look at able, skilled workers and a “slap dash” and classify work areas to maintain an environmany aspects of the industry, from trainment that can minimize risks, illness, and injury. approach put projects and health at risk. ing to benefits to safety and working Consider one contractor hired on several Specialized clothing and equipment are part of conditions. But all too often a client says the package.” hospital jobs in New England who seems they are only concerned about the bottom Sure, the program costs money, but because to show little regard for limiting the risk line. To which the simple answer is: yes, the investment is made on a national level beof infection. (nerccblog.com/2009/11/ of course. compare-and-contrast.html) tween labor and management partners, it pro Consider a common example: a hos It would be interesting to study not vides a tremendous bang for the buck. Local pital needs to do an addition or renovate only the cost over-runs due to shoddy health care facilities gain piece of mind that not existing space. Is the bid price the most work but the number of infections reportonly are union workers earning a decent wage, important consideration? What about the they’re provided decent health care benefits that ed in the hospital before, during and after financial risk of hiring an unqualified or allow them to get treatment in the very facilities these highlighted projects. More educasubstandard company? You’d have to tional would be to then compare those they’re building AND they’ve got the cutting consider the impact such a move would numbers to ones from hospitals who used have on the bottom line of the union carpenters that completed entire facility, not just the conthe “Best Practices” program struction project, wouldn’t you? developed by the Carpenters Here’s where the union adUnion. vantage trumps a nonunion bid Union carpenters and conthat appears to be a few percent tractors are rightly proud of this lower: The United Brotherhood new program. It provides a comof Carpenters has developed a petitive advantage in bidding to training program for apprentices facilities that truly care about and journey level workers called treating patients in a health en“Best Practices in Health-Care vironment. And it highlights the Construction in Occupied Facilicooperative effort between the ties.” It was developed through union and contractors that leads a cooperative effort of national to better building. If you’re building, make leaders in health care, construcsure you know all of the benefits tion management and union of building with union carpentraining programs. ters. Visit http://www.necar Once developed, the program was taught to hundreds Quality, safe building in health facilities is not something to leave penters.org/contractors.html for of UBC Trainers who took the to chance. The United Brotherhood of Carpenters, union contrac- more information. program back to their local areas tors and industry leaders have teamed up to train carpenters to limit the risk of infection without costs skyrocketing.
New England Regional Council of Carpenters NERCC.org
New England Real Estate Journal
nerej.com
December 22 - 28, 2017 7A
My partnership with the Carpenters Union makes my business work. Greg Raucci President Bismark Construction Milford, CT
Few successful alliances are constructed overnight. Instead, they grow over time and evolve into long-term partnerships. That’s the case with New England Regional Council of Carpenters and Union Contractors. For decades we’ve worked together to develop a skilled and professional workforce that supports the construction industry throughout New England. Our Apprentice program is first-rate. Our specialized carpenters can excel in the most demanding environments. And ultimately, we make projects more successful.
The New England Regional Council of Carpenters. It’s time to build. To learn more, visit NERCC.org
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New England Real Estate Journal
8A December 22 - 28, 2017
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AT 828 WINTER ST., WALTHAM, MA - ARCHITECT IS PERKINS+WILL
South Kingstown, RI Office Park
BW Kennedy celebrates topping off of KSP’s 145,000 s/f lab building BW Kennedy & Co. celebrated the topping off of King Street Properties’ (KSP) 145,000 s/f speculative laboratory building at 828 Winter St. The firm joined KSP, architect Perkins+Will, engineers Goldstein-Milano, Kelly Engineering Haley & Aldrich, the design/build MEP/FP team consisting of Environmental Systems, Inc., Nappa Electrical Contractors, North Shore Mechanical Contractors, and Legacy Fire Protection, as well as the subcontractor team to celebrate the milestone. The three-story building will contain 50,000 s/f per floor and will feature mechanical, electrical, plumbing, and fire protection systems, designed to accommodate the varied needs of life science tenants. Also included in the project WALTHAM, MA
$375,000 Located one block from South County Hospital. Over 3,000 s/f one level physician’s office with an additional 1,100 s/f of 2nd floor storage area. This commercial condominium has 2 executive offices, 7 exam rooms, an employee break room, 2 lavs, laundry, reception area and a large waiting room. All this set on campus like grounds off Rte. 1 and near Univ. of R.I.
R. D. Denelle and Company, Inc. Realtors
2935 Tower Hill Road, Box 130, South Kingstown, RI 02880 Contact Denny Denelle, CRS,
[email protected] office: 401-783-7777 cell: 401-932-9900 www.denelle.com
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Shown (from left) are: Nate Krocke (BWK), Andrew Bennett (Perkins+Will), Steve Lynch (KSP), Bill Harris (Perkins+Will), Brian Kennedy (BWK), Tom Ragno (KSP), Jean McQuestion (BWK), Bill Griffiths (BWK), Roland Jenkins (BWK), Tyson Reynoso (KSP), and John White (BWK). is a 158,000 s/f, four level parking garage that was completed this summer. Brian Kennedy, founder of BW Kennedy & Co., said, “The topping off of this building results from many months of careful planning, and excellent work in the field. Built on a steep slope, the project provided a multitude of challenges, as well as the building’s location behind the 830 Winter St. property and parking area, which remains open throughout construction.” The existing Winter St. campus serves as home to companies such as GSK, Immunogen, and Histogenics. The new building will help to continue to build the area as a thriving suburban hub for the life sciences community. The project is on schedule for completion in mid-2018 and will offer the Winter Street campus amenities such as two cafeteria options, outside seating in a central courtyard, conference facilities, structured parking, bicycle storage and showers with changing facilities.
Tel-Data/Security Systems
Excellence in Electrical Construction... For More Than 95 Years
Rendering: Elkus Manfredi Architects
Run Date: 11/17/17
One Seaport Square Boston, Massachusetts Member of
Connecting Greater Boston to a Bright Future 267 Amory Street, Jamaica Plain, MA Tel: 617.522.6800
[email protected] www.jmbco.com
Worth Avenue Capital, LLC closes $70,000 loan
STRATFORD, CT Worth Avenue Capital,
LLC (WAC) closed a $70,000 “fix and flip” loan for a small Connecticut-based real estate investor on an investment property. The loan is secured by a first mortgage on the property in Stratford and was funded by one of WAC’s private investors with an underlying LTV of 50%. The borrower, who purchased this property through a foreclosure at a favorable price, will renovate the property and list it for sale within the next six months or so and will pay off WAC’s bridge loan upon the sale of the property. WAC specializes in arranging debt financing for both small businesses and real estate developers/investors and also handles bank workouts for those same clients.
New England Real Estate Journal
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New England Real Estate Journal
10A December 22 - 28, 2017
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ON BEHALF OF THE LANDLORD, EXETER PROPERTY GROUP
NAI Hunneman handles 111,656 s/f lease to EMS in Myles Standish Park
HELLO.
NAI Hunneman completed a 111,656 s/f lease with EMS Warehousing at 800 John Quincy Adams Rd. within Myles Standish Industrial Park. EMS is consolidating its operations from 135 Will Dr. in Canton and 155 Cathy Minnerly Myles Standish Blvd. in the park. NAI Hunneman’s south team of Cathy Minnerly, Ovar Osvold, Leeanne Rizzo, Ned Halloran and Sean Hannigan represented the landlord, Exeter Property Group, while EMS was represented by Steve Clancy of CBRE. “800 John Quincy Adams checks all the boxes for EMS – generous clear TAUNTON, MA
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800 John Quincy Adams Road - Taunton, MA
Financing multi-stage commercial construction projects...check.
heights, ample loading, and an ideal location in the state’s most sought after industrial park,” said Minnerly. 800 John Quincy Adams Rd. is a first-class warehouse property totaling over 350,000 s/f. The building offers 47 loading docks, ESFR sprinklers, and 30-foot clear heights. 800 John Quincy Adams Rd. is set within the 7 million s/f Myles Standish Industrial Park which is home to 111 companies employing more than 8,000 people.
Blair joins Jewett Construction as chief financial officer
For Jewett Construction, 2017 has been marked by rapid growth and revenue greater than that of any other year in the company’s 45 year history. To meet the needs of his growing company, president Craig Jewett knew that he had to reinforce the accounting processes with the hiring of Gregg Blair as chief financial officer. Jewett said, “We are a different company than we were even just two or three years ago. We are managing more projects, in more industries, with more employees than ever before. We brought in Gregg as CFO because we needed more horsepower to forecast and manage our accounting department.” Blair joined the Jewett executive team in the second half of 2017. Blair brings more than 20 years of finance, accounting and operational management experience to Jewett. Prior to joining Jewett, he ran the U.S. accounting department for one of the larger homebuilders in NorthAmerica but was ready for a change. “I had been working from home and travelling to corporate offices in Florida and Colorado. I was ready for a new opportunity,” he said. “When I met the team at Jewett Construction, I could tell that I was going to be a part of an organization that was committed to quality and excellence with a focus on strategic growth. It is really exciting.” RAYMOND, NH
Brent McKenelley (left) of Bay Property Management and Commercial Lender Pete Fenn at 177 North Main St., Middleton
In the twenty years that I’ve worked with North Shore Bank, I’ve come to think of the relationship more like a partnership — almost collaborative in nature. They really understand the building process and have always delivered the kind of thoughtful, personalized service that really makes them stand out.”
Brent McKenelley — Bay Property Management
Commercial & Industrial Lending | Commercial Real Estate Lending Construction & Development Lending | Cash Management Services northshore-bank.com |
Member FDIC Member SIF
Equal Housing Lender
For more information, call (877) 712-7000 or visit us at northshore-bank.com/lenders
Bay Property Management and Bay Custom Homes, LLC are owned and operated by Brent McKenelley. Founded more than twenty years ago, they specialize in all types of industrial, commercial and residential development. Employing the lastest design technology and green building practices, the companies are responsible for countless area homes and subdivisions.
New England Real Estate Journal
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December 22 - 28, 2017 11A
Referral Network This Week’s Real Estate Specialist- Providence, R.I. 146 Westminster Street, 2nd Floor Providence, RI 02903 401-273-1980/Fax 421-4207 www.hayessherry.com
Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance
CBRE/NEW ENGLAND REPRESENTS THE SELLER
Fisher College sells 21,205 s/f 10-11 Arlington for $22.5 million On behalf of Fisher College, CBRE/New England completed the sale of 10-11 Arlington, a historic 21,205 s/f, six-story building located in the city’s Back Bay abutting the Public Garden. The buying entity, 10-11 Arlington LLC, purchased the property for $22.5 million and plans to use it as a family office. CBRE/New England’s Mark Reardon, Meredith Christensen, Diane Harris, Matthew Furey, Simon Butler and Biria St. John represented the seller, Fisher College, which acquired the property in 2013. BOSTON, MA
Firms appearing on this page are listed to represent the areas of activity in the New England economic region, and are available to answer your questions regarding investment, financing and/or brokerage opportunities in their area. They are willing to cooperate on all legitimate situations.
Southeastern Mass.
Londonderry, N.H.
508-272-9910 Tony Baldwin, CCIM One Park Place, Plymouth, MA 02360 www.baldwin-realestate.com
[email protected]
Residential, Commercial and Industrial
Cape Cod Mass.
Nashua, N.H.
TINKHAM REALTY
Route 102, Londonderry, NH 603-432-7769 / Fax: 603-434-1545 www.tinkhamrealty.com email:
[email protected]
René L. Poyant, Inc. REAL ESTATE MANAGEMENT
“Positioned on one of the most prominent streets in Boston, 1011 Arlington is one of the last of its kind,” said Christensen. “The historic building, situated in one of Boston’s most iconic neighborhoods with views of the Public Garden, is a once-in-a-lifetime opportunity for the buyer.” The property boasts views of the city’s skyline and Public Garden and features unique architectural details such as high ceilings, mansard roofs and original fireplaces. Located between Commonwealth Ave. and
Marlborough St., the property is close to all major roadways, multiple MBTA subway, bus and commuter rail stations, Boston Logan International Airport and Amtrak service. The 19th century property first served as a private residence in 1861, and the building was later converted
to commercial use for the Harbridge House, a renowned management consulting firm. Since then, the building has been occupied by the World Affairs Council, the United Nations Information Center, the Tellus Institute and most recently Fisher College.
West Hartford, Conn.
Cheshire, Conn.
Northern Rhode Island
PROLMAN REALTY 100 Elm St. Nashua, NH 603-880-6655
Post Office Square, 20F Camp Opechee Rd. Centerville, MA 02632 508-775-0079
[email protected]
[email protected]
Western Mass.
Portsmouth, N.H.
Macmillan Group, LLC
85 Mill Street, Springfield, MA 01108
BERETTA REALTY CO. Since 1965
43 North Main Street West Hartford, CT 06107 860-249-1540
We Cover the State 330 South Street, Cheshire, CT 06410 203-234-9000 / Fax 699-9316
Connecticut River Valley
Milford, Conn.
Also Serving NH & VT
Arnold Peck’s
The Kane Company 603-430-4000 netkane.com
Worcester, Mass.
Southern New Hampshire
[email protected]
10-11 Arlington - Boston, MA
www.brodercommercial.com
413-240-2358
SALES • APPRAISALS DEVELOPMENT -401-724-7980
[email protected] 869 Smithfield Ave., Lincoln, RI 02865
Providence, R.I.
446 Main Street, Suite 2200 Worcester, MA 01608 Commercial-Industrial Div. 508-755-0707 www.kelleher-sadowsky.com
Res/Comm’l/Ind Consultants One Verani Way, Londonderry, NH 03053 603-845-2500
Space Available
Central New Hampshire
veranicommercial.com
Brenda Litchfield, CCIM
To list your company call Karen Dowell 781-878-4540 x254
[email protected] nerej.com
Concord Commercial, LLC
Burlington, Mass.
Hanover/Lebanon, N.H.
2½ Beacon Street, Suite 159 Concord, NH 03301
603-225-3200
[email protected]
McLaughry Commercial
Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance
Commercial Real Estate
www.townandcountryrealty.com
[email protected]
680 Boston Post Rd., Milford, CT 06460 203-877-1345 / Fax: 203-877-6090
[email protected]
146 Westminster Street, 2nd Floor Providence, RI 02903 401-273-1980/Fax 421-4207 www.hayessherry.com
Vermont
South Windsor, Conn.
Warwick, R.I.
800-542-5188
55 Cambridge St., Burlington, MA 01803 781-272-2899 www.rjkellycompany.com
Bruce Waters 93 S. Main St., W. Lebanon, NH 03784 603-298-8904
Andover, Mass.
Bedford, N.H.
Fo
Vermont’s Commercial Real Estate Leader Since 1987
Sales & Leasing Buyer/Tenant Representation Site Selection
29 Church St.,Burlington, VT 05401 802-878-9000, www.jldavisrealty.com
Mark F. Butler, Specialist
Residential & Commercial • Sales & Leasing
800-292-1102
950 Sullivan Ave., #19 South Windsor, CT 06074
[email protected]
www.ButlerRealty.us or email Jeff Butler at
[email protected] Trusted Real Estate Service Since 1977 401-886-7800
Ron Fredette, CCIM, CIPS 138 River Rd., Andover, MA Office: 978-475-2111 Cell: 603-540-4489 Email:
[email protected]
116 South River Road Same photo as New Photo Bedford NH • 603-668-7000January 28 Deer Street Suite 301 Coldstream Office Park 175 Lincoln Street • Manchester, NH Portsmouth, NH • 603-431-3001 Newly redeveloped 2,550+/- SF office/industrial 116 South River Road • Bedford, NH unit New windows, natural timber columns Several Class A office units avail for immed occup. throughout, sandblasted walls, wood ceiling and Units vary from 911+/- SF to 2,181+/- SF, & a www.nainorwoodgroup.com is handicapped accessible One loading dock. 3,899+/- SF stand-alone building . Units can acLease Rate: $7.50 psf, nnn. Norwood for details.
Same photo as January
Call Chris
commodate a variety of users. Lease rates vary. Some units broker owned. For more info, call Louise or Chris Norwood.
Same photo as January
15 Con
Several C 1,771+/- S able in on with conv Lease rate $1.50 psf tact Perry
New England Real Estate Journal
12A December 22 - 28, 2017
BIG news small budget!
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OF 21 SHEAFE ST., A 7-UNIT APARTMENT PROPERTY
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Griffith and Pepdjonovic of Marcus & Millichap broker $2.53m sale BOSTON, MA Marcus & Millichap has
completed the sale of 21 Sheafe St., a 7-unit apartment property located in
Evan Griffith
Tony Pepdjonovic
the North End neighborhood of the city. The asset sold for $2.53 million. Evan Griffith, first vice president investments, and Tony Pepdjonovic, senior associate, in Marcus & Millichap’s Boston office, had the exclusive listing to market the property on behalf of the seller, a private investor, as well as procured the buyer, a developer. “The property had been family
21 Sheafe Street - Boston, MA
Milford, MA
westborough, MA
Marlborough, MA
In-line : 1,440 SF Pad sites : 3,000 -20,000 SF Anchor Space : Up to135,000 SF
Westmeadow Plaza 1,800 SF |optional drive-thru
Wayside Crossing 9,100 SF Proposed
owned and hadn’t seen the open market for over 40 years, adding to the allure of the highly sought after North End asset. We saw a very competitive bidding process among local, international, and 1031 exchange buyers” said Pepdjonovic. “The new developments surrounding North Station and the Government Center Garage, known as Bullfinch Crossing, continue to push investor demand for properties throughout the North End,” said Griffith. 21 Sheafe St. is comprised of 6 one-bedroom apartments and one studio. The buyer plans to fully upgrade the units to luxury rentals. The capitalization rate at the time of sale was 3.62%.
Lyman Real Estate handles lease to UCONN
The University of Connecticut (UCONN) has leased a newly renovated office building at 28 Professional Park Rd., according to Ron Lyman, CCIM, CEO of Lyman Real Estate. The owner is MP Park, LLC and Lyman acted Ron Lyman as sole agent for the transaction. The 9,000 s/f facility is off Rte. 44, Middle Turnpike, near Storrs Rd., Rte. 195. Directly across Rte. 44, Professional Park Rd. extends into the new UCONN Technology Park, a 990,000 s/f multi-story R&D and meeting facility. The 28 Professional Park Rd. building features a new central core, new elevator and ADA bathrooms on each floor, as well as a new main entrance with traffic signal. UCONN is currently customizing the space for their needs and expects to move in by the first of the year. Lyman Real Estate Brokerage & Development represents commercial and residential buyers, sellers, landlords and tenants. MANSFIELD, CT
Milford, MA
Ashland, MA
westborough, MA
Office / Warehouse 10,800 SF Flex Space
3.63 Acres Available Proposed 40,000 SF Building
20,000 SF on 9.63 Acres 70,000 SF Proposed
Framingham, MA
Ashland, MA
• 1.13 Acres • 550 Ft. of Frontage on Mass Pike • Proposed 68 Room Hotel
• 12.10 Acres • Proposed 50,000 SF • Proposed 4,500 SF
Milford, MA
Apartment Land for Sale
• 2,000 Ft. Frontage - 12 Acres • Located on Rt. 16 & 495
Permitted for 200 Apartments - Ashland 5.2 Acres - $39,000 / Unit
FafardCommercial.com
New England Real Estate Journal
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RELOCATED TO 92 MONTVALE AVE., STONEHAM, MA
Cummings Properties signs Solutions for Living to 5,000 s/f STONEHAM, MA Solutions for Living,
a provider of counseling and conflict resolution services, relocated to a 5,000 s/f office at 92 Montvale Ave. The nonprofit organization moved from its previous location at 200 Boston Ave. in Medford. Both buildings are owned by Cummings Foundation and operated – for its sole benefit – by commercial real estate firm Cummings Properties. The business relationship between the Cummings organization and Solutions for Living extends back 20 years, according to Tony Spencer, Cummings Properties senior account manager. Spencer recently visited the Montvale Ave. office to present a personalized and engraved wooden captain’s chair in honor of Solutions for Living’s 20-year milestone. The organization is also a two-time recipient of Cummings Foundation’s $100,000 for 100 grant program, which annually awards grants of $100,000 each to 100 nonprofits based in and serving communities in Essex, Middlesex, and Suffolk counties.
92 Montvale Avenue - Stoneham, MA
Russell of Pearce Real Estate sells 50,666 s/f building
Risk Strategies Company acquires Delmarva Surety BOSTON, MA Risk Strategies Compa-
ny, has acquired Delmarva Surety in a move that extends the specialty brokerages Mid-Atlantic footprint while adding specialized contract surety expertise. Terms of the deal were not disclosed. Established in 1995 and headquartered just north of Baltimore in Hunt Valley, MD, Delmarva specializes in the sale and servicing of surety bonds and commercial insurance. The company has more than 450 clients throughout the Mid-Atlantic and Eastern U.S., including Maryland, Virginia and the District of Columbia. For full story visit nerej.com
70 Robinson Boulevard - Orange, CT According to Barbara Pearce, CEO and president of Pearce Real Estate, Carl Russell, CCIM, SIOR, senior commercial broker of Pearce completed the sale of a 50,666 s/f industrial building on 6.5 acres at 70 Robinson Blvd. The building was purchased by Robin Equity, LLC. The property will be repurposed for American Seal & Engineering Corp. (ASE) to serve as its new global corporate headquarters and the main manORANGE, CT
What features do renters want in 2018 - by Haughey CONTINUED FROM PAGE 4
It’s not just why they lease, but also why they leave. While understanding what apartment features and community amenities will help attract tenants to a building, it is also important to understand why renters move. The top five reasons? • Seeking lower rent; •Seeking better apartment management; • Seeking better apartment features; • Seeking better community amenities; and • Seeking better apartment floorplan/layout. Plan for outdoor spaces - Four out of five apartment renters want a patio or balcony, while roughly two-thirds have an interest in shared outdoor space and common area barbeque grills. Nearly half of renters also note interest in a playground or community dog park. Is smart technology a smart
investment? - When it comes to the deal breakers that tenants won’t rent without, smart technology ranks low on the list. Only 14-17% of renters indicated they wouldn’t lease without smart thermostats, smart lighting and smart locks. However, if a unit has these features, they expect to pay roughly an extra $30 per month for each. Research conducted by Hoyt Advisory Services and commissioned by National Multifamily Housing Council and National Apartment Association in June 2017 estimates 4.6 million new apartments will be needed by 2030 in order to meet demand. As developers work to meet this demand, understanding what renters want remains key to success.
Rick Haughey is vice president, industry technology initiatives for National Multifamily Housing Council, Washington D.C.
ufacturing facility for engineered products, advanced manufacturing technology and product testing and development. ASE is a global technical solutions provider specializing in critical seals, sealing systems and high performance coatings. ASE will operate at three locations in town. The sellers, ALM Properties, LLC, and MCM Investments, LLC, and ASE were both represented by Russell. Russell has represented ASE for all three locations.
December 22 - 28, 2017 13A
A Christmas wish Carol Todreas Todreas Hanley Associates
Dear Santa, All I want for Xmas is a redone mall A total redo for one and for all I want cafes, local stores, and maybe some bowling I want to see kids, Moms, Dads browsing and strolling A ton of choices where there’s plenty to eat. Ice cream to brews, where all friends can meet. I want it brimming with goods new and exciting. I want the place to be warm and really inviting. This mall needs a space where I can plug in. Re-charge my phone, take a class, snuggle in. Take this old mall and give it more air. Get rid of the walls, make it fun for a fair. Bring in markets, pop-ups, music, the arts. Bring in choirs from high schools and plenty of carts. Mom wants a spa, a shave shop for dad. A doll house for sis; for me an iPad. We all want clean bathrooms, and safety for sure. Easier access - we don’t want to tour. So , that’s it, dear Santa, now what is the news? Will developers listen and bring in their crews? For a partial rehaul or total redo? Do we have the market to get something new? I know we will shop if the stores
can be fun Malls really work in the cold or hot sun. So onward and upward with reindeers and sleigh Merry Xmas to all, brick and mortar’s the way. Here’s hoping, Millie Lennial Dear Millie, I am optimistic about your mall request. This year has been a good one for the retail development industry despite what you may have been reading about bankruptcies and closures of old stores. Key points are: Developers have a choice of successful new retailers whose stores and merchandise provide tailored merchandise, a special experience, and coordinated online shopping. Successful online retailers are looking for brick and mortar locations. Non-retail tenants such as health, fitness and educational institutions are adding a sense of place and community to malls. Old-style malls turning into town centers and shedding the name “mall” is a growing trend and has spread the word that many malls can be repositioned as successful centers for the 21st Century. This is a truly an era for innovation and if your old mall is in a viable location there is a good chance it will be redone. Nothing like shopping in a great mall! Wishing you the best for the New Year. Merry Xmas and long live brick and mortar, Santa.
Carol Todreas is a principal at Todreas Hanley Associates, Cambridge, Mass.
Berkeley Investments signs four new leases within the Ballardvale Portfolio
O’Brien Commercial Properties brokers $475,000 building sale 301 Ballardvale Street - Wilmington, MA WILMINGTON, MA On behalf of Berke-
MAYNARD, MA Summer Street Proper-
ties LLC has purchased The Peoples’ Theater Office Building at 14 Nason St. for $475,000. 14 Nason St. is a 12,378 s/f multitenant office property in downtown. O’Brien Commercial Properties represented the seller, Nason Street LLC and procured the buyer. The property was 80% leased at the time of sale.
ley Investments, CBRE/New England completed four leases totaling 66,000 s/f of office and R&D/flex space at the Ballardvale Portfolio over the past three months. Combined with upgrades made at the buildings by Berkeley, this leasing activity further advances the comprehensive repositioning of the properties as a premier office and R&D portfolio north of Boston. At 300 Ballardvale St., Berkeley signed three office leases including the New England regional headquarters for HUB International for 37,592 s/f; NorthBay Solutions for 3,398 s/f; and Microlabs Scientific for 2,042 s/f. Monogram Foods leased 23,206
s/f at 301 Ballardvale St., which represents an expansion from Monogram’s existing production plant nearby at 330 Ballardvale St. CBRE/NE’s Jason Levendusky, Mark Reardon and Jake Borden are the exclusive leasing agents for the park. Berkeley purchased the three-building park in early 2016. These recent deals, combined with over 55,000 s/f of transactions that were completed at the end of 2016 (Locus Robotics for 45,872 s/f at 301 Ballardvale St., as well as Bright Star Engineering for 5,318 s/f and Infranor for 3,972 s/f at 299 Ballardvale St.), have resulted in Berkeley leasing over 121,000 s/f in less than two years of ownership.
New England Real Estate Journal
14A December 22 - 28, 2017
Primer for better understanding restrictive employment agreements
www.naiop.org
Donna Toman Salvidio
Kevin W. Quinn, President Chuck Reilly Dacon, Design Architecture Construction 16 Huron Drive, Natick, MA 01760 Tel: 508-651-3600, Fax: 508-655-2229 www.dacon1.com
Fletcher Tilton PC
Garry Holmes R.W Holmes 321 Commonwealth Rd., Suite 202 Wayland, MA 01778, Tel: 508-655-5626 www.rwholmes.com
Stephen Logan Peter C. Nordblom Nordblom Company 71 3rd Ave., Burlington, MA 01803 Tel: 781-272-4000, Fax: 781-270-0359 www.nordblom.com
Steven C. Davis, P.E., President Rackeman 160 Federal St., Boston, MA 02110 Tel: 617-951-1146, Cell: 617-233-5327
[email protected] www.rackemann.com
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RACKEMANN STRATEGIC CONSULTING, INC.
Timothy Williams, P.E. Principal Allen Major Associates 100 Commerce Way, Woburn, MA 01888 Tel: 781-935-6889
[email protected] www.allenmajor.com
Daniel R. DeMarco, Partner Campanelli One Campanelli Dr., Braintree, MA 02184 Tel: 781-849-1440, Fax: 781-884-9160 www.campanelli.com
Listings are the smart way to advertise your business. Call Patty Colman at 781-878-4540
[email protected]
Part 1 appeared in the December 15, 2017 CDE section The Ties That Bind (part 2 of 2) A non-disclosure agreement prohibits an employee from disclosing trade secrets, insider operations knowledge and proprietary information to third parties, such as a competing new employer. Non-disclosure agreements can be used by management companies to prevent their former employees from disclosing customer lists or technological operations to their competitors. There are practical difficulties in applying non-disclosure agreements to the property management profession, however. The problem-solving and people skills possessed by the top managers are typically accumulated talents rather than trade secrets. Accordingly, management companies may have difficulty identifying the proprietary information they are trying to protect. What is the impact of non-compete and are they enforceable? In the sphere of community association management, an appropriate non-compete agreement is not onesize-fits all. A regional management company might provide that upon the termination of employment, a property manager is prohibited from providing property management services to another condominium
or management company within a 20-mile radius for the next two years. This type of restriction is probably valid in states that recognize non-competes because it would not prevent the former employee from working as a property manager, but it would prevent the manager from working for a competitor in the same general market as his or her former employer. However, if the same restriction were applied to the employee of a national management company and that employee were prohibited from working for competitors located within a 20-mile radius of any of its existing management offices, that manager might have few options for continuing in the profession, or might be forced to relocate a great distance. A court might find the same restriction valid in the former case and too restrictive in the latter example. Courts determine the validity of each non-compete on a case-by-case basis. Most courts will not enforce a non-compete unless it meets the following criteria: • The terms are tailored to protect only the employer’s legitimate business interests. • The agreement is supported by valid consideration. • It was not signed under duress. • It is reasonable as to scope, duration and geographical area. • It is aligned with the public interest. State laws vary on the enforceability of non-compete, non-solicitation and non-disclosure agreements. Most states, including Massachusetts, Connecticut, Rhode Island, Vermont,
Maine and New Hampshire, recognize the validity of appropriately tailored agreements. Massachusetts courts are more inclined than some other states to void, selectively enforce or rewrite overly restrictive agreements. While many non-compete, non-solicitation and non-disclosure agreements may not be legally enforceable, the cost of challenging an employer’s enforcement action can be prohibitive. Some employers use the threat of a lawsuit to gain compliance by the former employee. Non-competes are also used by employers to prevent competitors from hiring away employees in violation of a non-compete. This is particularly true where the new employer is made aware of the non-compete by the prior employer and continues to solicit the employee anyway. Employers often have better success pursuing the companies who are trying to hire their former employees than suing an individual employee for breach of his or her non-compete. The evolving body of law is trending away from the wholesale enforcement of non-competes. Management companies would be wise to consider utilizing narrower non-solicitation and non-disclosure agreements to protect their client bases rather than encumbering managers with overly broad and potentially unenforceable non-compete agreements.
Donna Toman Salvidio, Esp. is an attorney at Fletcher Tilton PC, Worcester, Mass.
GENERAL CONTRACTING AND CONSTRUCTION MANAGEMENT SINCE 1985 INSTITUTIONAL
COMMERCIAL
MEDICAL / HEALTHCARE
RESIDENTIAL
CORPORATE INTERIORS
HOSPITALITY / MULTIFAMILY
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For more information on NAIOP Massachusetts visit: www.naiopma.org
SEAVER CONSTRUCTION, INC. P: 781.935.0130 F: 781.935.0048
215 LEXINGTON STREET, WOBURN, MA 01801 www.seaverconstruction.com
New England Real Estate Journal
nerej.com
December 22 - 28, 2017 15A
2017 Officers President Michael Delsesto, CCIM 617-682-0114
neccim.com Andover, MA Ron Fredette, CCIM 138 River Rd., Andover, MA Office: 978-475-2111, Cell: 603-540-4489
[email protected], www.kw.com
Boston, MA Debra Lee Steven, CCIM 10 Post Office Sq., Boston, MA 02109 Tel: 617-886-9300, Fax: 617-886-9301 www.thestevensgrp.com
Boston, MA Mike Delsesto, CCIM 29 Commonwealth Avenue, Suite 601 Boston, MA 02116 Tel: 617-682-0114 / 617-267-0006 www.mvernon.com
Burlington, MA Ernest C. Wronka, SIOR, CCIM, GRI The District, 1500 District Ave. Burlington, MA 01803 Tel: 781-229-2233 www.wronkaltd.com
Easton, MA Richard L. Freitas, CCIM 126 Main St., North Easton, MA 02356 Tel: 508-238-2042, Fax: 508-238-3939
[email protected] www.freitasassociates.com
Treasurer & Operations Director Thomas Cormier, CCIM 978-332-1402
Secretary & Membership Director Dan Cooper, CCIM 970-485-9715
Programming Director Amanda Stevens Snell 617-886-9300
Representing Maine, Vermont, New Hampshire, Rhode Island and Massachusetts
Why choose a CCIM? The Certified Commercial Investment Member designation is awarded to a very elite group of commercial real estate professionals by the Commercial Investment Real Estate Institute. It is earned after completion of an education program administered by the Institute covering all aspects of commercial investment real estate; passing stringent written examinations; and completion of a required number of hands-on commercial real estate transactions. The average CCIM Designee has over 10 years experience. Since the CCIM program was launched 50 years ago, less than 6% of over 125,000 who have entered the program have earned the CCIM designation. Today, there are over 15,000 CCIM Designees located in 1,000 markets worldwide.
Southeastern, MA Tony Baldwin, CCIM One Park Place, Plymouth, MA 02360 Tel: 508-272-9910
[email protected] www.baldwin-realestate.com
Woburn, MA Peter Carbone, Jr., CCIM 5 Stone Edge Ln., Woburn, MA 01801 Tel: 781-935-5444 www.carbonere.com
Nashua, NH Bradley T. Vear, CCIM, SIOR 456 West Hollis St. Nashua, NH 03062 Tel: 603-882-6000 www.vear.biz
Southern NH Chris Norwood, CCIM 116 South River Rd., Bedford, NH 03110 Tel: 603-668-7000, Fax: 603-647-4325
[email protected] www.nainorwoodgroup.com
Formerly
New Photo
175 Lincoln Street • Manchester, NH
Newly redeveloped 2,550+/- SF office/industrial unit New windows, natural timber columns throughout, sandblasted walls, wood ceiling and is handicapped accessible One loading dock. Lease Rate: $7.50 psf, nnn. Call Chris Norwood for details.
West Lebanon, NH Bruce Michael Waters, CCIM PO Box 5419, 93 South Main St. West Lebanon, NH 03784 Tel: 603-298-8904
Same photo as January
Coldstream Office Park 116 South River Road • Bedford, NH
Several Class A office units avail for immed occup. Units vary from 911+/- SF to 2,181+/- SF, & a 3,899+/- SF stand-alone building . Units can accommodate a variety of users. Lease rates vary. Some units broker owned. For more info, call Louise or Chris Norwood.
Same photo as January
Same photo as January
Ridgewood Road & Palomino Lane Bedford, NH
225 Lowell Road • Hudson, NH
New construction of a 20,200+/- SF state-ofthe-art, Class A medical/professional building slated for completion in 2006. Approx. 84 parking spaces. Lease rate: $18.00 psf, NNN. Build-out allowance TBD. For more info, please call Joe Russo or Perry Snow.
Several retail & office units from 950-1,700+/SF available on busy Route 3-A across from the new Stop & Shop. Very visible with high traffic counts. Lease rates $8.50 to $10.75 psf, nnn. Call Joe Russo for more information and to schedule an appointment.
John Hughes, CCIM 591 North Ave., Bldg. 3 Wakefield, MA 01880 Tel: 617-674-2043
[email protected] www.mansardcre.com
Two wrhse/lt manuf spaces avail in 3-story brick mill bldg. Lower Level: 4,000+/- SF w/7-8 ft ceilings, drive-in access & cement floor. Lease Rate: $1.80 psf, mod. gross. Third Floor: 4,000+/- SF w/7-9 ft ceilings, frt elevator to shared dock, 2-room fin’d office area. Lease rate: $2.10 psf, mod. gross. For more info, call Perry Snow or Judy Niles-Simmons.
Indian Head Plaza 30 Temple St. • Nashua, NH
Class A Office - 1,600 to 18,724 SF is available for lease in downtown Nashua. On-site parking, convenient access to Route 3, state of the art telecommunications. Competitive rates. Call Joe Russo or Perry Snow for more info.
INDUSTRIAL BUILDINGS FOR SALE
1,300+/-SF bldg on a include restaurants, and more. Great visi Easy access to/from Sagamore Bridge. month. Call Joe R
Main Stre 300 Main S
Well-established, we 2,880 to 50,000+/- S date a variety of tena & high traffic counts information, please c Russo.
LAND FOR SALE
Epping, NH: Parcel 1: 2 lots totaling 9.84+/- acres w/400+/- ft frontage on Rte 125. Sale price $1,000,000. Parcel 2: 20.74+/- acres w/50 ft right of way on Old Hedding Road. Sale price $1,000,000. Call Joe Mendola or Chris Norwood for more information. Loudon, NH: Multiple site locations. 400+/- ft frontage on Route 106 just north of I-393. Land Lease $2,100/month, per acre, per site. Call Chris Norwood or Joe Mendola for details.
136 Lafayette Road, North Hampton, NH 03862
Merrimack: 1/2 acre industrial parcel. Sale price $99,000. Call Perry Snow for more information.
116 South Riv Bedford, NH Tel. (603) 66 Fax (603) 64 www.thenorwood Email: info@thenorw
New Hampton, NH: 2 parcels just off I-93 at Exit 23. Lot 22: 5.095+/- acres with 520+/- feet of frontage on Route 132. Sale Price: $150,000. Lot 23: 8.9+/- acre parcel. Sale price: $265,000. Contact our office for more details. Raymond, NH: 5.05+/- acres w/687+/- SF frontage on Route 27. Sale Price: $495,000. For details, call Joe Mendola or Joe Russo.
The information provided herein, while not guaranteed, is secured from sources we believe to be authori All data is subject to change of price, error, omissions, other conditions or withdrawal without notic
Leominster, MA Paul A. DiGeronimo CCIM, SCLS, SCDP 975 Merriam Ave., Leominster, MA 01453 Tel: 978-840-0008, Cell: 978-857-7766
[email protected] www.geronimoproperties.com
For information regarding appearing on this exclusive CCIM-New England page Contact Karen Dowell 781-878-4540 x254
[email protected] www.nerej.com
227 Lowell R
Same Ja
Same photo as January
New Photo
15 Constitution
Several Class-A of 1,771+/- SF to 4,542 able in one of Bedfo with convenient onLease rate $17.00 p $1.50 psf for electric tact Perry Snow or
Same Ja
LANG MCLAUGHRY COMMERCIAL
873 Page Street • Manchester, NH
Greater Boston
Same Ja
PROPERTY OVERVIEW Located on Route 1 in North Hampton, NH. Two industrial metal buildings totaling 20,200 SF on 18.26 acres. Both are 30 ft high bay ceilings with 5 ton overhead crane lifts. Building #1 is 13,800 SF, front office area and rear warehouse 150’x80’ (could be demised into 2 spaces for possible subletting). Building has 1 loading dock and 2 drive-in doors (a 16’ and a 14’). Rear lot is level and provides potential building expansion. Good yard use for construction, trailer and material storage. Ideal contractor, builder, yard space, moving, building, storage businesses, has partial paved and dirt parking lot. Building 2 is a pre-finished metal clear span 80x80 building. A 6,400 SF 30’ high bay service shop with two 14 ft drive-in doors and another 5 ton overhead crane lift, pre-finished concrete floor, paved and dirt parking lot. The excess land of 18.2 acres is zoned 1-B-R, Industrial-Business-Residential best buyer is an owner occupant with potential income for subleasing space, trailer and vehicle storage and 2nd building lease. Current occupants are on short term leases. $1,995,000.00
KW COMMERCIAL 168 South River Road Bedford, NH 03110
RONALD FREDETTE Managing Director 603.836.2700
[email protected] MA #9515797 - NH #056843
New England Real Estate Journal
16A December 22 - 28, 2017
Thomas S. Andolfo, MAI The Bush Bldg., 216 Weybosset St. Providence, RI 02903 Tel: 401-273-8989 www.realestateappraisersri.com
nerej.com
www.appraisalinstitute.org
Jonathan Avery, MAI, SRA Christopher H. Bowler, MAI, SRA 282 Central Ave., Acton, MA 01720 Tel: 978-263-5002 www.averyandassociates.com
William E. Coyle, III, MAI, SRA Mary L. Coyle P.O. Box 3341, So. Attleboro, MA 02703 Tel: 508-761-7865 P.O. Box 1323, Pawtucket, RI Tel: 401-725-2200
Gary M. MacLeod, MAI P.O. Box 1068, Princeton, MA 01541 Tel: 978-464-5060, Fax: 978-464-5061
[email protected]
Avery Associates
William E. Coyle, III MAI, SRA Mary L. Coyle
Horne & Hastings Associates
Emmet T. Logue, MAI, SRA Mark Savage, MAI Christopher M. Walsh, MAI 303 Congress St., Boston, MA 02210 Tel: 617-457-3270 www.naihunneman.com
William J. Pastuszek Jr. MAI, SRA 199 Wells Ave., Newton Ctr, MA 02459 Tel: 617-928-1778, Fax: 617-558-0057 www.shepherdnet.com
Shepherd Associates
White Appraisal Company
S. Keith White Jr., SRA, SRPA 1000 Greenwich Ave. Warwick, RI 02886 Tel: 401-738-9500
Seeking an Appraisal?
New England Chapters Massachusetts & RI Chapters Lianne Andreucci, Ex. Secretary, 781-397-8922 Karen Friel, MAI President 617-997-5004
Maine Chapter Jacquelyn Beauchane, Ex. Secretary, 860-482-9992 Kevin King, SRA President 207-232-0251
Connecticut Chapter Jacquelyn Beauchane, Ex. Secretary, 860-482-9992 Peter A. Vimini, MAI President 203-384-6000
New Hampshire Chapter Vermont Chapter Jacqueline Beauchane Ex. Secretary 860-482-9992 David Cornell, MAI, CAE President 603-203-5517
President’s message: 2017 - A year of change Karen Friel
Appraisal Institute As 2017 draws to a close, the Massachusetts and Rhode Island Chapter of the Appraisal Institute will install a new president, Albert (Bud) Clarke, MAI. I have enjoyed leading the organization over the past year but I owe a strong debt of gratitude our executive director, Lianne Andreucci, to my fellow officers and to the chapter’s board of directors. We are fortunate to have an executive director with strong institutional memory and a keen knowledge of Appraisal Institute regulations and procedures with which she tirelessly trains our leaders every year. Our officers and board of directors are composed of appraisers who truly care about the profession. They ask the tough questions to keep our organization fiscally sound and responsive to the membership. Perhaps our most unsung heroes are our education chairs; Ed Bowler, MAI and John Drew, MAI. In addition to their full time practice, they year after year have produced a portfolio of cutting edge educational offerings that carefully balance appraiser demand and cost feasibility. The chapter has enjoyed success in several areas this year. We awarded 2 SRA designations and 4 MAI designations and welcomed 5 new candidates for designation and 12 new affiliates. Our September meeting featured a candidate for designation night, with networking opportunities for candidates and a program highlighting designation tracks and strategies. The chapter offered 9 qualifying education courses, 2 professional development programs, 3 continuing education seminars and 6 USPAP courses in Massachusetts and Rhode Island. The Rhode Island Branch Chapter developed a timely offering on Real Estate and Economic Risks of Climate Change in Coastal Communities featuring Rhode Island senator Sheldon Whitehouse as the keynote speaker. The annual Summer Social was held in Newport with sailors aboard the Schooner Madeleine and golfers at the Newport Country Club joining at the end of the day for an evening of networking and camaraderie. The annual Jay Zeiger Service Day at the Greater Boston Food Bank had a waiting list of appraisers ready to inspect, sort and pack food in the afternoon with fellow colleagues. Now for the change part. I think perhaps every chapter president takes the helm hoping to simply keep the
ship on its steady course. After all, the Appraisal Institute has been around since 1932. The organization now has over 30,000 members in the U.S. and
The chapter structure has served us well for many years but it depends on dedicated volunteers to deliver services to its members. Our chapter
I have enjoyed leading the organization over the past year but I owe a strong debt of gratitude our executive director, Lianne Andreucci, to my fellow officers and to the chapter’s board of directors. We are fortunate to have an executive director with strong institutional memory and a keen knowledge of Appraisal Institute regulations and procedures with which she tirelessly trains our leaders every year. around the world. Our organizational structure was last modified in 1991 when the old AIREA merged with the Society of Real EstateAppraisers. Since that time though, our economy has gone through tremendous change, and the way real estate appraisers do business has been completely transformed by technology. Our next generation of appraisers, raised on this technology, is fluent in it. The Appraisal Institute is going to change.The question is not when? But rather, it is how? Given the changes in our membership, technology and economy, change is inevitable. We saw two major initiatives this year from national; the Financial Management Policy and the proposed Governance Structure Program Team (GSPT) recommendations.The Appraisal Institute National board of directors is open to discussion and is still soliciting comments on the proposed Governance Structure changes.
responded in what we believe is our members’interests, but each member should make her/his voice heard because it is critical that the best ideas come to the surface. The chapter leadership must ultimately implement these policy and governance changes that will serve current and future members. Please help us get it right by sending GSPT feedback comments to: https://www.myappraisalinstitute. org/strategic_initiatives/governance_ structure.aspx Best wishes to our new 2018 chapter president, Bud Clarke, MAI, and to the dedicated officers and board of directors of the Massachusetts and Rhode Island Chapter.
Karen Friel, MAI, MRA, is the 2017 president of the Massachusetts and Rhode Island Chapter of the Appraisal Institute and principal at Friel Valuation Advisors, Carlisle, Mass.
To list your company call Jeff Keller 781-878-4540 x244
[email protected] nerej.com
New England Real Estate Journal
nerej.com
December 22 - 28, 2017 17A
Thru the Years ne
Quick Read BioMed Realty signs Shire to 343,000 s/f lease at 500 Kendall St.
SEE PAGE 10A
1 Year Ago
The faces and names that made the news happen in 2007
Fairlane Props. sells Boxborough Corporate Center for $19.35m According to Michael Grill, president of Fairlane Properties, Inc., they have completed the sale of the Boxborough Corporate
BOXBOROUGH, MA
Peter Joseph
SEE COVER OF SECTION B
IREM Metropolitan Boston Chapter #4 IREM Metropolitan Boston Chapter #4 Winter 2016 Spring 2016
Brian Barnett
Center (BCC) at 155 & 159 Swanson Rd., to an affiliate of Jumbo Capital Management, LLC for $19.35 million. The 203,000 s/f, two-building campus is 100% leased on a long-term basis to Setra Corp. and SynQor, Inc. Peter Joseph and Brian Barnett of Cushman & Wakefield of Massachusetts, Inc. brokered the sale for Fairlane Properties. Originally built for Digital Equipment Corp. in 1984 and 1985 on
Stout of Atlantic Props. brokers $8.6 million sale Winter 2016 Newsletter Sponsors
IREM Boston ®
202 Parke Ave., Quincy, MA 02171 617-436-7565, IREMBOSTON.ORG An affiliate of the National Association of REALTORS®, IREM is a trusted source for knowledge, advocacy and networking for the real estate community
SEE SPECIAL INSERT
3 Sections 76 Pages Editorial Page.......................... 4A S. Feldman ............................... 4A Carpenters Union................6-7A Referral Network .................11A CCIM Listing ..........................14A Shopping Centers .......... SEC. B Billboard ............................SEC. C IREM .............. SPECIAL INSERT nerej.com
December 23 - 29, 2016 Volume 55 • Issue 51
feaTurinG sHopping CenteRs
feaTurinG 2007 AnnuAL Review
BROKERED BY JOSEPH AND BARNETT OF CUSHMAN & WAKEFIELD
Linear Retail acquires two retail properties in Nashua for $12.5m
NEW ENGLAND
PLYMOUTH, MA Ben Stout of Atlantic Properties represented PartyLite Gifts, Inc. in the sale of 59Armstrong Rd., a 96,000 s/f office building for $8.6 million. The property was sold to Plymouth RisingTide Foundation Corp. The acquisiBen Stout tion of 59 Armstrong Rd. will allow The Rising Tide Charter Public School to expand its middle and upper schools and provide enough land to construct athletic fields and other amenities for their students. Atlantic Properties is a privately held commercial real estate company founded in 1981 by Henry Stout. Through the efforts of its dedicated professionals Atlantic Properties has become one of the premier commercial real estate brokerage firms in Southeastern Mass.
Boxborough Corporate Center, 155 & 159 Swanson Road - Boxborough, MA 26 acres at the intersection of Rte. 111 and I-495, the two-story, brick and ribbon window buildings house the headquarters, manufacturing, research & development, and sales
offices of Setra and SynQor. Setra, a leader in the design and manufacturing of pressure and weight sensing devices, is a division of Fortive Corp., a company recently split off from
Danaher Corp. This year, Fairlane negotiated an 11 year extension with Setra at 159 Swanson Rd. to continue Setra’s occupancy at the building which began in 1993. SynQor, a privately held company founded by an MIT professor, is a leader in the power converter industry and has occupied 155 Swanson Rd. since 2003. Brad Spencer, a partner at Jumbo Capital, said, “Setra and SynQor are very strong companies with long-term relationships to the area, increasing our comfort level that they are likely to stay.” Jay Hirsh, managing partner at Jumbo Capital, leads Jumbo’s transaction team of Howard Hirsh (partner), Jordan Berns (partner), Brad Spencer (partner), and Adam Fischer (acquisitions associate). Middlesex Bank, which funded Fairlane Properties in its acquisition of the property, retained the loan on the property.
INCLUDING 80-UNIT DIAMOND COURT APARTMENTS FOR $5M
Cawley and Braun of United Multi Family brokers two sales - $6.15m WATERBURY, CT United Multi Family (UMF) brokered the sale of an 80unit complex known as the Diamond
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COMMERCIAL/INVESTMENT NEWSPAPER IN THE COUNTRY
Turner iS ConSTruCTion ManaGer for 310 uniTS; eLkuS/ManfreDi proviDeS DeSiGn
equity Residential completes first of five buildings for $168m west end Apartments dec
December 28 – January 3, 2008
Hi-LigHts Collins and McGill of JLL lease 100,000 s/f for Transwestern Edward Weiss, Robert Romano and Melisa Schneider of C&W represented Mullen in their lease of 100,000 s/f headquarters.
JaMeS BraDy,
See paGe 8a.
Linchris Hotel with Strategic Capital acquires $100m portfolio in partnership with Strategic Capital purchases 855-room five hotel portfolio in Mass. and Maine from Fine Hotel Corp.
LinCHriS HoTeL
See paGe 12a.
Horvath and Mancinone of Marcus & Millichap close sale Crown poinT Real Estate Investors purchased a T.G.I. Friday’s consisting of 5,800 s/f located on 2.96 acres in Concord, N.H.
also inside: Kurt Cawley
Jason Braun Diamond Court Apartments,150 Manhan Street - Waterbury, CT for $1.15 million ($95,833 per unit). Jason Braun of UMF handled the sale. The two-story brick and aluminum sided residences were built in 1971 and consist of 6 two-bedroom, 5 one-bedroom and 1 studio apartment. Situated on a .95 acre site, there is off street parking and a coin-op laundry facility. Recent
improvements include replacement windows, updated septic system, electric panels, fire detection system and LED lighting in common areas. Braun was able to sell the property in an off market transaction as per the request of the owner. Financing to acquire the property was provided by Mansfield Savings Bank.
5
Editorial Page ....................6a J.Avery, R.E. Consultant ...6a Business Cards..................9a Carpenters News ........10-11a NAIOP pages ...............18-19a
Northeast’s number
BoSTon, Ma Mayor Thomas Menino was joined by Boston Redevelopment Authority director John Palmeri, representatives of Equity Residential and members of the West End community for a grand opening ceremony marking the completion of ‘Vesta,’ the first building completed in the five building Equity Residential development, The West End Apartments. Upon completion, the $168 million development will bring 310 new residential units, the first addition of new housing to the West End neighborhood in 10 years. The construction manager is Turner Construction and design was provided by Elkus/Manfredi. “I’m delighted to welcome new housing to the West End,” Mayor Menino said. “Creating new housing – especially affordable housing – is a top priority of my administration and we will keep looking for ways to increase the city’s housing supply. I also want to thank Equity Residential for their commitment to improving the West End neighborhood” “Equity Residential is very proud of the West End Apartments project and the continued revitalization of the West End neighborhood. The Vesta building is an exceptional property and we are pleased to bring
Shown are: Mayor Menino, Bra Director John palmeri, Councilor Mike ross, iaG members and representatives of equity residential: Greg white, Chris reilly, David neithercut and fred Tuomi this asset to the city of Boston,” said David Neithercut, Equity Residential’s president and CEO. The project which consists of 5 buildings, Vesta, Asteria and three smaller buildings called the Villas, is the culmination of over four years of planning with city, state and the community. The completion of the Vesta building adds 104 units of housing to the city’s housing supply. The completion of the Villas is slated for winter 2008 and Asteria
10 Years Ago
in spring of 2008. The West End Apartments are located off of Blossom St. in the West End. The apartments are a mix of studio, one-bedroom, two-bedroom and three-bedroom apartments as well as townhouses. In addition, there will be two below-grade parking structures for 660 cars, creating a valuable 58 percent increase in open space throughout the site, an important part of the project’s identity.
Condyne acquires $22m Littleton Dist. Center; 840,000 s/f slated for completion
See Lower Cover, SeC. D, SC.
Court Apartments located at 150 Manhan St., for $5 million ($62,500 per unit). Kurt Cawley of UMF handled the sale. The townhouse style residences were built in 1992 and consist of 24 two-bedrooms, 54 three-bedrooms, and 2 four-bedrooms. Cawley was able to sell the property in an off market transaction as per the request of the owner. Also, UMF brokered the sale of a 12-unit apartment building located at 395 Purchase St. in Easton, Mass.
Koury of JLL finalizes sale of $377 million shopping ctr. portfolio
sections, 192 pages Annual Review .............SeC B Annual Review .............SeC C Shopping Centers ........SeC D ICSC news ....................... 32D N.E. Billboard ............... SeC e
website for commercial/investment real estate
LiTTLeTon, Ma Condyne Real Estate
Development has acquired the Littleton Distribution Center for $22 million. This newly constructed tilt up concrete building, located on 120 acres along Rte. 2A, is subdividable and pre-permitted for additional build-out. The completed project will consist of two buildings totaling 840,000 s/f. Phase 1 of the first building is complete with 120,000 s/f leased to Plastipak. Phase II, a 240,000 s/f expansion, is ready and set to break ground. Phase III of the project is a 360,000 s/f building expected to
be delivered within nine months of ground breaking. Advantage Construction is the general contractor for the project. “Littleton affords Condyne the opportunity to acquire a rare, modern industrial warehouse facility
25 Years Ago
with excellent truck access and great clear height but more importantly one of only a handful of developments in Mass. that can house a large big box warehouse requirement under one roof,“ said Jeff O’Neill, president of Condyne.
45 Years Ago
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Newsletter
Back Page A December 22 - 28, 2017
New England Real Estate Journal
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Under Agreement
5,000 to 300,000 SF of New Construction in Beverly 48 Dunham Ridge rendering
Office, Flex, & Research Space plus Four Additional Lots for Build-to-Suit Located just off Route 128 in Beverly, Massachusetts, Dunham Ridge offers flexible space solutions for a variety of uses — including first-class office, medical office, wet lab, or mixed use. New construction will feature modern state-of-the-art design, flexible floor plates, and energy-efficient construction. Dunham Ridge is one of the few remaining true campus locations with space available along Route 128.
Current progress photo Situated on Norwood Pond, the 54-acre campus offers abundant green space, access to walking trails, and scenic views. For information on how to move your company to Dunham Ridge, please contact: Mike Ripp 617-912-7059
[email protected]
Kerry Hawkins 617-912-7088
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Patrick Joyce 617-912-6946
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Retail Trends & Development
December 22 - 28, 2017 Section B
Quick Read Groblewski and Garcia of Fantini & Gorga arrange $4.575m 11,180 S/F LOCATED AT 461 MAINE ST. IN SACO SEE PAGE 4B
Baldwin Pearson & Co. closes $3.1m sale of 1876 Black Rock Tpke.
SEE PAGE 8B
Bvlgari to open 2,864 s/f store at 14 Newbury St. in Boston
SEE PAGE 20B
Charter Realty arranges 2,400 s/f lease for Harvest Restaurant
SEE PAGE 22B
28 Pages By Diana Perry........................ 6B Retail Top Projects................18B Space Available..............24-25B Retailers Seeking..................25B
New England Real Estate Journal nerej.com
Charterhouse Dev. acquires Rite Aid Pharmacy for $3.054m Charterhouse Development Corp., a commercial real estate development and investment company based in the Boston area, has purchased a Rite Aid pharmacy. Located at 461 Maine St., the pharmacy is 11,180 s/f. This acquisition was sourced and negotiated by John Gendron of Gendron Commercial Brokers in Portland, and was acquired by an entity operated by Charterhouse Development from Spirit RA Saco, ME LLC for $3.054 million. “We are thrilled to have acquired this prime, centrally located real estate which serves residents of Saco and the surrounding communities,” said Meredith Roy, president of Charterhouse Development Corp. “This acquisition by Charterhouse Development is right on target for our company,” said Brandt Sharrock, vice president at Charterhouse Development. “We are in a phase of exciting growth, and this strategic asset fits our portfolio perfectly.” SACO, ME
Fitzgerald promoted to president at VERC Ent. Leo Vercollone will assume the role of CEO at convenience-store retailer VERC Enterprises, which has promoted COO Jim Fitzgerald to president, a role Vercollone previously held. Fitzgerald is the first non-family Jim Fitzgerald member to hold that position in the history of the more than 40-year-old, second-generation family business. In this role, Fitzgerald, who has been with VERC for 22 years, will oversee the day-to-day operations of the company, while also working directly with owners Leo and Paul Vercollone on planning and implementing the company’s growth. He will lead the management team, which will include Paul Vercollone, senior vice president, and Barry Ahearn, who was recently promoted to vice president of operations. DUXBURY, MA
PAUL GROSSMAN AND JEREMY GROSSMAN REP LANDLORD
CBRE/New England leases 28,893 s/f to Target in Porter Sq. BOSTON, MA Target has signed a lease
with CBRE/New England to open a small-format store in July 2018 in a 28,893 s/f space at Porter Square Galleria, which is owned by CBRE Global Investors sponsored fund.Additional tenants of the Galleria include Anna’s Taqueria, Sprint, Potbelly and Parrelli Optical. CBRE/New England’s Paul Grossman and Jeremy Grossman represented landlord CBRE Global Investors in the deal. “We are proud of the reconfiguration of Porter Square Galleria to accommodate a new small-format Target store. This is just the beginning of a revamped Porter Square Galleria, and will further solidify the location as a retail destination,” said Joseph Mancuso, managing director, CBRE Global Investors. “Directly adjacent to the Porter Square MBTA station, we have an opportunity to serve a vibrant community and bring on brands that add to this unique retail experience.” Located at the intersection of Massachusetts and Somerville avenues, Porter Square Galleria is a prime
Target, Porter Square - Boston, MA location and a rare opportunity for retailers, serving a densely populated neighborhood in an extremely visible, easily accessible anchor presence. Porter Square has a 24/7 population that includes students and working professionals along with an eclectic
mix of national and local retail for a synergistic shopping experience. Nearly 19,000 s/f remains available at Porter Square Galleria. This includes 16,500 s/f on the lower level and a 2,303 s/f restaurant space on the first floor.
Inside Cover B
December 22 - 28, 2017
Retail Trends & Development
New England Real Estate Journal
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December 22 - 28, 2017 1B
Retail Trends & Development
2B December 22 - 28, 2017
New England Real Estate Journal
INCLUDES CVS IN HYANNIS, MA AND WALGREENS IN DEEP RIVER, CT Also, plea se take a minute to wri review on te a Yelp.
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Horvath & Tremblay completed the sale of eight properties with total sales eclipsing $29.9 milHYANNIS, MA
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Horvath & Tremblay completes eight sales totaling $29.9 million
Bob Horvath
Todd Tremblay
lion. Recent transactions include the sale of CVS in Hyannis, Walgreens in Deep River, Conn., Denny’s in Colonial Heights, VA, Taco Bell in Greenville, S.C., Burger King in Clayton, N.C., Caribou Coffee and Verizon in Eau Claire, WI, Fas Fuel in Cedar Rapids, IA and Applebee’s in Lynchburg, VA. Bob Horvath and Todd Tremblay
CVS - Hyannis, MA completed the sale of CVS at a sale price of $13.95 million. CVS is newly constructed and has a new 25-year lease term, plus five, five-year renewal options. The property is located at the well-known and heavily trafficked Hyannis “Airport Rotary” that filters
traffic to the BarnstableAirport, Island Ferries and Downtown Hyannis at the intersection of Rtes. 28 and 132. The new CVS is part of a larger project that includes the development of a new Citizens Bank branch. The developer has demolished the old branch and is currently building a new, two-story 6,000 s/f Citizens Bank branch. Walgreens closed at a sale price of $5.23 million, a 5.8% cap rate. Horvath, Tremblay and Mark Brockwell represented the seller and procured the buyer to complete the sale. Walgreens, located at 180 Main St., fully occupies the 13,500 s/f building. Moving down the east coast, Horvath & Tremblay placed capital in Virginia with the sale of Denny’s in Colonial Heights and Applebee’s in Lynchburg. Kyle Danielson represented the buyer of Denny’s closing at a sale price of $1,136,363. Danielson also represented the buyer of Applebee’s in Lynchburg to close the sale for $2 million. RJ Tuller joined Horvath and Tremblay in the sale of Burger King in Clayton, NC. The group procured the 1031 exchange buyer in the sale which closed at a sale price of $2.050 million. Burger King signed a new 18-year lease at the close of escrow. The sale of Taco Bell in Greensville, SC closed at a sale price of $2.71 million, a 5.35% cap rate. For full story visit nerej.com
Shopping Centers A section of the New England Real Estate Journal P.O. Box 55, Accord, MA 02018 781-878-4540, www.nerej.com
Publisher Joanne Connolly x248
[email protected]
Editor Jennifer Tempesta x227
[email protected]
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Retail Trends & Development
December 22 - 28, 2017 3B
Remembering Joel B. Wilder 1934-2017
The Wilder Companies
Founder. Mentor. Friend. Joel Wilder was an early identifier of the post-war shift to the suburbs, recognizing the need to meet changing consumer demands for new shopping environments. With the founding of The Wilder Companies he was instrumental in the growth of the burgeoning shopping center industry, developing shopping malls throughout the eastern United States, Texas, and Puerto Rico. Joel was warmly thought of by all of us who worked with him. When asked, his associates described him as smart, caring, loyal, and a man of great integrity. Notably philanthropic, Mr. Wilder actively and generously supported Bentley University, Beth Israel Hospital, Cape Cod Healthcare, Jupiter Medical Center, Pope John’s Seminary, and the Irish Cultural Society. In 2001 he received an honorary doctorate of Commercial Science at Bentley University. The Wilder Pavilion at Bentley is named in his honor as recognition of his many contributions. Mr. Wilder also served on the Board of Directors of Horizons for Youth, Greater Boston Real Estate Board, and Beth Israel Hospital. It was a privilege to have worked with Joel. His vision, integrity, and passion for excellence leave a lasting legacy that will influence our company for years to come. A celebration of his life will be held in The Wilder Pavilion at Bentley University in Waltham, Massachusetts on June 6, 2018.
800 Boylston Street, Suite 1300, Boston, Massachusetts, 02199 • wilderco.com NY Tel: 781-878-4540 PROOF NE REAL ESTATE JOURNAL
Retail Trends & Development
4B December 22 - 28, 2017
New England Real Estate Journal
FINANCING FOR RETAIL COMPLEX AT 216 NEWBURY ST.
W A N T E D • PRIME STORE BLOCKS
Groblewski and Garcia of Fantini & Gorga arrange $4.575m Boston-based Fantini & Gorga arranged $4.575 million in first mortgage acquisition financing for a retail complex located at 216 Newbury St. Senior managing director Casimir Groblewski, along with analyst Jon Garcia, Casimir Groblewski arranged the loan with a New England-based financial institution on behalf of a longtime client based in eastern Mass. 216 Newbury St. is a 6.2 acre parcel of commercially zoned land improved with a 68,381 s/f shopping center on the south side of Newbury St., also known as Rte. 1. Included in the collateral is an ice skating rink. The subject is tenanted by Namco, PEABODY, MA
• STRIP CENTERS • COMMERCIAL LAND Call Gary Belowich
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Properties
(781) 237-9500 (781) 237-9501 FAX
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216 Newbury Street - Peabody, MA
114A Washington Avenue, North Haven, CT 06473 Phone: (203) 234-6371 ● Fax: (203) 234-6372 ● www.theprotogroup.com
Open Doors. Close Deals.
West Haven - 1.75 acre Route 1 development opportunity. Parcels are adjacent to the new Allingtown Redevelopment Projects consisting of 50,000 SF of retail space and 179 apartments.
Watertown - Join Marshalls and Adams Supermarket. 1,400 - 9,210 SF available. Traffic count 18,700 CPD.
East Hartford - Former nursing home had housed 150 residents in 92 rooms. 52,617 SF on 4.26 acres offers opportunities for adaptive use. For Sale.
Southington - 5,960 SF former restaurant just south of I-84 on New Haven - Fully equipped Route 10. Seats 180 inside and diner at the intersection of Route 150 outside. Newer patio. 63 and Route 69. Traffic count is Possible redevelopment 27,600 CPD. Can be converted opportunity. 28,700 CPD. For to retail use. Sale or Lease.
Workout World, Mass Bay Hockey Center, and Revival For All Nations Church, with 6,000 s/f available for lease. The new owner plans to remodel the exterior of the building and reconfigure the parking areas. “Our client purchased the subject for long-term hold, but needed flexibility in his loan structure to allow him to renovate and make tenant improvements when tenants might turn over. The assignment was well received by lenders because of the property’s solid occupancy history and significant upside. The winning lender recognized the visible and accessible location of the subject and structured a loan package that worked well for our client. The sponsor is experienced and has a proven track record. We appreciated this opportunity to assist our client once again,” said Groblewski.
HFA’s Solberg receives “20 Under 40” award
BOSTON, MA HFA’s Aksel Solberg re-
ceived the “20 Under 40” award from International Council of Shopping Centers (ICSC) at CenterBuild. The award recognizes young architects and retail industry leaders who show leadership Aksel Solberg to their firms and communities. Solberg exemplifies leadership qualities demonstrated through innovation and ability to offer creative solutions along with his relentless energy in seeing retail design projects through to completion.
Cobb of Cardente Real Estate leases 1,400 s/f
New Haven - Completely renovated 3-family house opposite Yale New Haven's Saint Raphael Campus. 1st floor medical/office space, 2nd and 3rd floor apartments. Parking in rear.
Old Saybrook - Shopping center located on Route 1. Join Walmart, Stop & Shop,Marshalls, HomeGoods, and more. 2,300 5,374 SF available.
Orange – Join a growing medical cluster of office close to I-95 exit 41. Recently expanded parking field with traffic light access onto Indian River Road. 2,135 - 8,720 SF available.
Milford – Trophy location. Former diner. Value is in the land. 245' frontage on Route 1. Traffic count is 128,000 CPD on I-95 and 32,000 CPD on Route 1.
BRUNSWICK, ME According to Carden-
te Real Estate, Lady’s Auto Sales has leased 1,400 s/f of retail space at 156 Pleasant St. This transaction was brokered on behalf of the landlord, RWG Properties, LLC, and the tenant, by Mike Cobb Mike Cobb of Cardente Real Estate.
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Retail Trends & Development
December 22 - 28, 2017 5B
The Torrey Company thanks all of their Clients, Friends and Subcontractorsfor a great year! Wishing ALL Happy Holidays and a prosperous new year!
3 Mill Street, Attleboro, MA 02703
508-695-6005 x224 www.torreyco.com NY Tel: 781-878-4540 PROOF NE REAL ESTATE JOURNAL
Retail Trends & Development
6B December 22 - 28, 2017
Julius Borrus says… “We have a posse of investors”
Dishing social media: Four CRE predictions for 2018
Searching for……
Anchored Centers Power Centers Strip Centers Flagged Inns Neighborhood Centers NY, NJ, CT, PA, MD, DE A member of the International Council of Shopping Centers
If you have one or more call with information:
Julius Borrus • 732-345-7002
BORRUS ASSOCIATES
COMMERCIAL INVESTMENT REAL ESTATE 30 Monmouth Street, Red Bank, NJ 07701
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Diana Perry
Linear Retail Properties Post the industry parties, Secret Santas and jingle bell jogs, it’s time to reflect and project CRE trends for 2018. How will our industry adapt to changing needs of the consumer? How are different generations shaping the shopping experience? What kind of influence will social media have on purchasing decisions? All things we need to be asking ourselves. Below are four predictions of my own that I believe we’ll see in 2018 and beyond. From Etsy Pop to Etsy Shop Last weekend I was shopping on Newbury Street in Boston and came across an Etsy pop-up shop. The shop
consisted of about 11 retailers, each of which had between 5 and 10 feet of display space. It was a mix of products ranging from different types of jewelry to glass blown ornaments, leather products and beautiful hand-crafted shoes. I spoke with the owner of the shoe company, Adelante Shoe Co., and was wowed by the story he told me about how the shoes are made, where they come from and even saw photos of the people that actually made the shoe I was holding. The product was high-end, think Frye but half the price and more unique. The experience I got from this encounter does not even come close to me going online to Frye.com and blindly clicking the checkout button. I liked the product, the owner and story. I believe that more online retailers will be seeking brick and mortar space to showcase their products but will be
looking for shared space. I imagine the notion of the “pop-up” will change from temporary to permanent – from pop to shop, where it will be more mainstream in the future to have a store with multiple brands in it. This will change how leases are structured and how we market to retailers to rent our spaces. Voice Search Becomes a Game Changer Remember the days of Ask Jeeves? Well we transitioned to Google and now to accessing information via voice. I think this will continue to evolve and it will become more important to build out SEO appropriately. The problem with voice is that there is only one winner so the content you provide must match up to specific questions thus rewriting your website too. With home systems like the Google Home Mini dropping at $29, we’ll see this in many homes. You may think this is a millennial or baby boomer item but this year even my grandmother wants to get on board. It makes sense too, if the older generations can avoid having to go online and can just talk to a system, it makes things much easier for them. Even retailers are starting to evolve, for example European Wax now allows you to book an appointment via voice on Alexa. Personalization or Follow the Leader? “I went to the Prudential Center over the weekend and I could have sworn Justin Bieber was there,” said my friend. I asked her what he was doing here and she said, “Oh, he wasn’t really, the crowd was for Canada Goose.” At the end of November, Prudential Center landlord, Boston Properties opened a Canada Goose store and its apparently been overflowing with visitors…as you can tell simply by walking the city, just about every other person has one of the jackets. According to the Boston Business Journal, “Canada Goose has been working as a manufacturer for over sixty years but became a retailer only recently. The company launched its first e-commerce site in Canada in 2014, followed by the U.S. in 2015.” Though the brand has a presence in 250 locations across the U.S., there are only three actual Canada Goose stores, located in Chicago, SoHo NYC, and now the Pru. I originally wanted to write about how retailers are getting more personalized and unique but after researching brands like Canada Goose it seems that there is still a generation that wants what everyone else has. If a brand can make a quality product and pay off a few influencers, it has potential to become a must-have product within certain generations. For full story visit nerej.com
Diana Perry is VP - marketing and social media at Linear Retail Properties, Burlington, Mass.
Retail Trends & Development
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Prime Retail Space Available
December 22 - 28, 2017 7B
For More Information Contact Daniel Gordon
[email protected]
MEG Asset Management, Inc. 25 Orchard View Drive, Londonderry NH 03053 603 434-6700 Fax 603 421-1896 www.themegcompanies.com
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Retail Trends & Development
8B December 22 - 28, 2017
New England Real Estate Journal
SHAWAH JR. REPS SELLER, MIRO 1876 ASSOCIATES Serving New England’s Property Management
Baldwin Pearson & Co. closes $3.1m sale of 1876 Black Rock Tpke. The commercial real estate firm of Baldwin Pearson & Co., Inc., completed the sale of 1876 Black Rock Tpke. for $3.1 million. FAIRFIELD, CT
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George Shawah Jr., represented the seller, Miro 1876 Associates, LLC, while Barry Jacobson of Joseph P. Day Realty, represented the buyer. The 7,000 s/f retail building was formerly occupied by Citibank. The new owner has lease commitments from Granola Bar (a local restaurant) and The Pet Pantry. Baldwin Pearson & Co. Inc., is a full-service commercial real estate firm providing brokerage, appraisal, and management services for over 65 years.
1876 Black Rock Turnpike - Fairfield, CT
Heidenberg Props. leases 15,000 s/f to Planet Fitness Heidenberg Properties Group celebrated the grand opening of a 15,000 s/f Planet Fitness at the Berlin Mall. One of the largest and fastest growing franchisors and operators of fitness centers in the United States, Planet Fitness will serve as junior anchor of the 250,000 s/f mall located on Berlin Mall Rd. “We’ve conducted an extensive search to find the right tenant for this high-profile space and provide central Vermont residents with a meaningful, value-priced service retailer,” said Ken Simon, VP of Heidenberg Properties Group and owner of Berlin Mall. “What’s more, Planet Fitness has stimulated renewed interest from complementary tenants such as Supercuts, which has recently signed a new lease at the Mall.” BERLIN, VT
Berlin Mall - Berlin, VT
Happy Holidays, good friend! Aubrey, Ashley, Bill, Brad, Catherine, Deepa, Diana, Evan, Gail, Greg, Jared, Joanna, Joe, Joel, Julia, Katie, Ken, Lauren, Matt, Ralph, Richard, Rick
“We are thrilled to bring our non-intimidating, high-quality, and affordable fitness experience to the central Vermont community,” said Jim Esposito, senior vice president of Planet Fitness Corporate Club Operations. “The addition of Planet Fitness, and community events like Walk the Long Trail at Berlin Mall, further our goals of revitalizing the mall property, creating good local jobs, and providing residents and visitors in the area with a positive shopping experience,” said mall manager, Gerry Hanifin.
nerej.com
Retail Trends & Development
2017 Retail Top Projects
December 22 - 28, 2017 9B
Retail Trends & Development
10B December 22 - 28, 2017
New England Real Estate Journal
2017 Retail Top Projects PROJECT TEAM: FOREST PROPS., RSS&C ARCHTS., WOZNY/BARNAR, KELLY ENG. AND HAYWARD BAKER
Dellbrook | JKS to complete $50 million mixed-use development project - Landing 53 Robert Hedlund, developer Josh Katzen and Forest Properties, along with construction manager Dellbrook BRAINTREE, MA In 2015, at a local | JKS and architect Russell Scott Braintree planning board meeting, Steedle & Capone, broke ground Cambridge developer Josh Katzen on the $50 million mixed-use deunveiled his proposal to build 172 velopment project, named Landing apartments and 11,000 s/f of retail 53. After approximately 15 weeks space at 19-37 Commercial St., the of site preparation, construction site of the former Trio restaurant and began. Dellbrook | JKS started with bar, H&R Block office building, Chair demolition of the former Chair Fair Fair furniture and a municipal parking and H&R Block buildings to make lot. Both Braintree and Weymouth way for the new building featuring had been struggling for years to 172 apartments and 11,000 s/f of revive the Landing which was tired retail space. Construction consists and run down. The property had been of wood frame construction of the underutilized, with old, semi-vacant 5-story building over a post-tension buildings. The town of Braintree had concrete parking garage with space spent $2 million several years prior for 198 vehicles. to improve the area with underground Landing 53 is located on a two-acre utility lines and improved street site at the Quincy Ave. and Commerlighting. Braintree’s mayor Sullivan cial St. intersection, across the street and Weymouth’s former mayor from the Weymouth Landing/East Kay worked together to develop a Braintree MBTA Commuter Rail shared vision to stimulate economic station with transit service to downdevelopment at the Landing. With town Boston. The new development a MassWorks grant of $2 million in will revive the neighborhood and spur place, engineering firm Howard Stein economic growth consistent with the Hudson delivered the shovel ready town’s stated mission of promoting streetscape improvement project sustainable development. The projwithin the one year design schedule. ect’s easy access to the navigable Fore In April, 2016, under the new ad- River, which will be upgraded as part ministration of Weymouth’s mayor of the development, will also further
February 24, 2017
the town’s desire to increase public use of this unique resource. Dellbrook | JKS project executive Scott Macleod said, “As a longtime resident of Braintree, it is very exciting to be an integral part of the Landing redevelopment. This is a great project that the community is proud of and is the catalyst for many more great things to come for this neighborhood.” The project is being funded in part by the Healthy Neighborhoods Equity Fund (HNEF) – a fund set up by the Massachusetts Housing Investment Corporation (MHIC) and the Conservation Law Foundation (CLF) to finance transformative, transit-oriented development in Boston and
gateway cities in Mass. Landing 53 fits the HNEF model perfectly – the project creates 172 units of moderately priced housing, opportunities for healthy living with new walking paths and a kayak launch at the Monatiquot Riverwalk, improvement of the environment with new landscaping and an eye toward improving the safety of pedestrians in the immediate area. The Conservation Law Foundation found in its HealthScore screening for the project that it was likely to be a high impact project. The HNEF funding influenced Katzen to invest more in environmental and health-related impacts such as seeking a healthy food retail tenant, adding electric car char-
Specialty Geotechnical Contractor
gers, ZipCar dedicated parking spaces and EPA indoor Air Plus certification into their plans. The project is also notable for the number of partners working together on its planning and development. The project was able to move forward in large part because of an agreement between the two municipalities of Braintree and Weymouth - the property sits on the boundary between the two communities. “Our work has only just begun, and Landing 53 marks an auspicious start,” said Braintree mayor Joseph Sullivan. The Landing 53 project is scheduled to open in early 2018.
Retail Trends & Development
nerej.com
December 22 - 28, 2017 11B
2017 Retail Top Projects PROJECT TEAM: PCA, ALLEN & MAJOR ASSOC., SITE MGMT., CALLAHAN CONST., POYANT AND BERGMANN
CEA Group and The Stonewood Cos. to develop 350,000 s/f SouthCoast Marketplace in Fall River May 26, 2017 The long-awaited redevelopment of the former New Harbour Mall is under way. SouthCoast Marketplace will open to the public in late Summer 2017, bringing an exciting collection of restaurants, stores and entertainment to this prominent site at Exit 1 on Rte. 24. The property was formerly home to Kmart, Walmart and a thriving enclosed mall, but that dated shopping center model is no longer compelling to consumers. CEA and Stonewood saw a unique opportunity to turn this property around and create a modern venue for today’s merchant and customer preferences. The site is adjacent to a major highway and provides tremendous visibility and superior access to service not only Fall River’s dense population of 100,000, but also a trade area of 200,000 residents who are underserved by quality retail options. “Our objective in this redevelopment is to create a dynamic marketplace with inviting public spaces and top-quality design to serve the people of Fall River and the surrounding communities,” said Steven Cohen, FALL RIVER, MA
president of CEA Group. “The end result will be like nothing in the region. We are thrilled to develop a shopping center that Fall River can be proud of.” Market Basket is building a new 85,000 s/f supermarket which is scheduled to open September 2017. With this popular and highly successful anchor, SouthCoast Marketplace will be the primary shopping destination for the substantial residential population within this trade area. The newly redesigned marketplace features an attractive central plaza surrounded by dining and entertainment venues. Picture Show at SouthCoast Marketplace, designed by the prominent cinema experts at Bergmann Associates, will open
a state-of-the-art 11-screen movie theater on the plaza, and will offer the latest innovations in the theater industry, including electric luxury reclining seating, reserve seating, quality food options, self-service soda machines, and a beer and wine bar. The plaza will also include two great dining options: 110 Grill and Qdoba. Other exciting new tenants include PetSmart, ULTA and One Dollar Zone. Starbucks will open with a drive-through, its first location in Fall River. Several prominent tenants already in the market will be relocating to SouthCoast Marketplace for its superior visibility and access, cutting edge design, and strong co-tenancies, including TJMaxx, Staples and Santander Bank.
Ron Golub, principal of The Stonewood Companies and CEA partner, is leasing the project. “Our goal for selecting tenants is to serve the everyday needs of the local residents while also providing specialty shops, entertainment venues and dining options new to the area,” Golub said. “Market Basket was the perfect place to start. Since it announced its plans to open a new market, numerous retailers and restaurants have made commitments to locate in SouthCoast Marketplace.” Ultimately the project will include over 25 tenants in 350,000 s/f. According to Golub, SouthCoast Marketplace is already 80% committed, but there are still opportunities for tenants seeking the opportunity to become a part of the exciting and highly successful project. The buildings are being designed by the talented architects of Prellwitz Chilinski Associates (PCA), the premier designer of exciting lifestyle centers in New England. “We love to transform lifeless properties into vibrant places that draw people together” said Steve Allen, a partner at PCA. At SouthCoast Marketplace, PCA turned the old mall building inside out and oriented the center around an active public plaza, which
attracted an 11-screen cinema and multiple restaurants. Other new and redesigned out-parcels are connected to the main building by tree lined walks with benches and pedestrian scaled lighting. Our designs mixed brick, exposed steel, and granite, materials common to Fall River’s industrial heritage, with contemporary design and materials that brings this historical setting into the 21st century.” “We are honored to be a part of the team that CEA Group has carefully selected to ensure that the development of this property truly raises the bar for the entire South Coast,” said Stephanie Poyant Moran, branding specialist at Poyant Signs. “The contemporary industrial design of the marketplace’s signage pays tribute to the roots of the region while boldly introducing a uniquely high-end, must-see retail and entertainment destination.” “The construction challenge at SouthCoast Marketplace was to implement the complete rebuilding of the original structure’s core, shell and infrastructure, while simultaneously responding to the very special and distinct needs of over 20 retail and restaurant tenants,” said Stephen Callahan, project executive of Callahan Construction Managers.
Civil Engineer/Landscape Engineer
Construction Manager
Building Relationships
Walmart Stores Halifax, MA
Dicks Sporting Goods - Warwick, RI
The Launch Hingham, MA
SouthCoast Marketplace Fall River, MA
Market Basket W. Bridgewater, MA
Building Experience
Building Solutions
a
80 First Street • Bridgewater, MA 02324 • 508.279.0012
[email protected] • www.callahan-inc.com Follow us on twitter @callahaninc
Building Results NE NY Tel: 781-878-4540
NE NY Tel: 781-878-4540
Retail Trends & Development
12B December 22 - 28, 2017
New England Real Estate Journal
2017 Retail Top Projects PROJECT TEAM: PRELLWITZ CHILINSKI ASSOCIATES, HUTTER CONSTRUCTION AND COLLIERS INTERNATIONAL
TFMoran works with Encore Enterprises on Market and Main – a 350,000 s/f lifestyle center July 28, 2017 Reconstruction of the former Macy’s site is underway on South River Rd., making way for a new “lifestyle center,” a high-end multi-use complex featuring a deluxe movie theater, office building, hotel, retail shops, and a variety of vibrant restaurants. The 350,000 s/f complex was approved by the town in late 2016. The site was originally developed by the Jordan Marsh department store chain in the 1960s. The site was taken over and operated by Macy’s in 1996 until it closed in 2015. The site was then purchased by Dallas-based Encore Enterprises with plans to create a new “lifestyle center” on the 16-acre site. Construction at the site began in March 2017 by Hutter Construction of New Ipswich, N.H. and is expected to be completed by late 2018. Currently in the pre-leasing stage, Market and Main is attracting attention from national, regional, and local retailers and corporations. Bob Rohrer, managing director of Colliers International said, “We have had a lot of interest in the development and are in negotiations with several companies who are exBEDFORD, NH
cited about the mixed- use aspect of Market and Main.” “The property is strategically positioned along South River Rd. at the high-traffic intersection of N.H. Rte. 101, I-293, and the Everett Turnpike,” said Nicholas Barber, president of Encore Retail. “And its proximity and direct access to the Whole Foods plaza will make it a regional destination.” The development will create a new “Main Street” which, unlike many
General & Site Contractor General Contractor for Market and Main, Bedford, NH
• • • •
Design/Build Construction Management Construction Services Development NE NY Tel: 781-878-4540
other local towns, Bedford does not already have, and also a “Market Street” heading towards the Whole Foods plaza. Market and Main is therefore the logical name for the complex, representing the place in town where everyone wants to go. The lively, upscale atmosphere of the development will include fresh, new brands mixed with local favorites, including Whole Foods, which opened in the spring of 2016.
Other tenants such as Trader Joe’s, Red Heat, Friendly Toast and Athleta have also announced their commitments to the complex. Many of these shops, like Athleta, an upscale women’s athletic clothing store, are firsts for New Hampshire, and are expected to attract many new shoppers to the area. Others like Trader Joe’s, will enhance the reputation that Bedford carries among “foodies.” Ted Chryssicas, executive managing director of Newmark Knight Frank said, “As construction begins, we are seeing increased interest from retailers looking to sign leases and be a part of the first phase of Market and Main.” The complex includes seven new buildings, existing Carrabba’s building and two new parking garages. TFMoran is responsible for the structural engineering of the garages, as well as civil/site and traffic engineering, permitting, land surveying and landscape architectural services for the whole development. The architecture is being designed by Prellwitz Chilinski Associates (PCA) of Cambridge, Mass. Their approach reflects both past and present; incorporating brick, granite, cast stone masonry, painted wood, and
metal in a palette of modern materials and historical colors throughout the complex. Eye appeal is emphasized for individual tenants and harmonized throughout the center. “Colorful awnings and canopies extend beyond the entrance, sheltering the shopper while on the sidewalk and inviting customers in,” said Laura Homich, senior associate of PCA. “Seated outdoor patios nicely blend the interiors and exteriors of the entire property, and architectural details reoccur throughout the site, visibly connecting the complex as a whole.” The new development is expected to generate approximately $1 million in new property tax revenue for the town, and is anticipated to be a high-profile lifestyle center development within the town. “Bedford has grown rapidly over the last number of decades, creating a demand for more shops, entertainment, restaurants, and commercial space,” said TFMoran’s project manager, Chris Rice. “We believe this high-profile lifestyle center will draw in people from surrounding towns, as well.The town of Bedford is pleased to see this new development take shape, and we are all looking forward to the grand opening of the new center.”
Civil/Structural/Traffic/Permitting/Landscape/Surveying
44
Professional Retail & Commercial Services since 1968 Co 20 min 18 g !
Bedford & Portsmouth, NH (603) 472-4488 www.tfmoran.com
NE NY Tel: 781-878-4540
Retail Trends & Development
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December 22 - 28, 2017 13B
NOW LEASING! OFFICE
SOUT
H RIV
ER RO AD
RETAIL/RESTAURANT
OFFICE/MEDICAL/R&D CONCEPT PLAN
CONCEPT PLAN
> Shopping, dining, entertainment, and wellness > Join REI, Trader Joe’s, Friendly Toast, and Red Heat Tavern at this Class A mixed-use development > Exposure to over 200,000 VPD and adjacent to Whole Foods, which opened Spring 2016
For retail leasing, call +1 617 863 8090
> Up to 125,000± SF of medical, office, and R&D space throughout Market and Main available for lease > Ample parking at grade, plus a covered garage > Office pad site available for sale to support a 100,000± SF building; call for details
For office leasing, call +1 603 623 0100
Retail Trends & Development
14B December 22 - 28, 2017
New England Real Estate Journal
2017 Retail Top Projects PROJECT TEAM: EASTERN RETAIL, CHA, MACKIE SHEA, TETRA TECH AND SUMCO ECO-CONTRACTING
Turtle Rock, LLC reinvests in Olde Shrewsbury Village: New look, new name, prime destination September 22, 2017 By Lisa Pacitto, Marketing Communications/Copywriter Olde Shrewsbury Village has long charmed shoppers with its colonial village look, small shops and footbridge over a stream. Yet, some of those features are what prompted owner/ developer Turtle Rock, LLC, to undertake a major redevelopment of the property. The end-result will be rebranded as 1000 Boston Turnpike – an exciting and attractive mixed-use development with exceptional visibility at the junction of Rtes. 9 and 20. Opened in the late 1980s, Olde Shrewsbury Village boasted some unique features – including a stream that ran through the property. An old-style pedestrian footbridge traversed the stream, creating a natural attraction for shoppers. As attractive as these features were, they had a downside. The stream cut off much of the parking area from the retail shops, which meant that shoppers didn’t have easy access to the stores. Factor in walking back to the parking area carrying purchases (especially in inclement weather), and the situation presented a problem for both shoppers
and the retailers who depended on their patronage. An Ambitious Plan Property owner Turtle Rock, LLC, which purchased the property in 1994, began evaluating creative and eco-friendly ways to solve the parking situation. The management team decided that relocating the stream would provide the best possible solution. “It quickly became apparent that if we were going to pull off moving a stream, we needed to assemble a top notch team to handle the environmental, political, legal, and complex construction challenges presented by such an undertaking,” said Ed Mullin of Turtle Rock, LLC. The Approval Process Once the team was in the place, a lengthy permitting process began involving approvals from the town, state and the U.S. Army Corps of Engineers. After 4 years and a lot of hard work, the team succeeded in gaining approvals to move the stream. This was a significant hurdle, as it was only the second time in Massachusetts that a private developer was granted approval to move a stream. The first time was for the construction of Gillette Stadium. “Relocating the stream to its current
Conceptual Rendering
location has created a natural pattern for the water to flow. The property has benefitted greatly, with improved and easily-accessible parking, while still preserving the natural esthetic,” said Jeffrey Bilezikian, principal of Turtle Rock, LLC. The redevelopment effort also included demolishing a 22,000 s/f building along the Rte. 9 side of the property. This created a parking area close to all retail shops. Retail tenants are delighted to have direct visibility
Owner / Developer
Turtle Rock
from Rte. 9, which logs over 50,000 trips per day and from Rte. 20, which logs over 18,000 trips per day. Future Plans The redevelopment also includes the potential for an additional 50,000 s/f of space available for development. Presently, the existing tenants include Christmas Tree Shops, Sears Outlet Store, JoAnn Fabrics, India Market, Yankee Candle, and Get In Shape For Women. “We’re really excited about the
retail opportunities and mixed-use potential the redevelopment has created,” said Bilezikian. Located at the crossroads of Rtes. 9 and 20, with easy access to Rte. 495 and the Mass Pike, 1000 Boston Turnpike is uniquely positioned to offer tenants a prime mixed-use location and shoppers with a memorable shopping experience.
Lisa Pacitto is marketing communications/ copywriter.
Leasing Agent
LLC
COMMERCIAL REAL ESTATE
1000 BOSTON TURNPIKE
Owners Developers Management • Massachusetts • Rhode Island • Maine • Jeffrey Bilezikian -
[email protected] Ed Mullin -
[email protected]
• Retail / Restaurant / Medical / Institutional • New Construction of 5,000 SF up to 50,000 SF • New Parking Field • Fronts on Routes 9 & 20 • Excellent Visibility & Access • Multiple Uses Allowed • Pylon Signage Available — Exclusive Listing Agent —
Vin Albanese
Office - 781-849-9013 / Cell - 617-413-1193
[email protected]
231 Willow Street, Yarmouthport, MA 02675
508-375-0005 NE NY Tel: 781-878-4540
EASTERN RETAIL PROPERTIES, INC.
25 Braintree Hill Office Park, Suite 305, Braintree, MA 02184 Phone 781-849-9010 Fax 781-849-9050 www.easternretail.com
NE NY Tel: 781-878-4540
Retail Trends & Development
nerej.com
December 22 - 28, 2017 15B
2017 Retail Top Projects Environmental Counsel
Legal Solutions for Today’s Businesses and Tomorrow’s Environment
Congratulations to our client, Turtle Rock, LLC and Edward J. Mullin for selection as “Project of the Month” Mackie Shea, PC has over 30 years of experience as a leader in environmental and land use law; strategic planning; MEPA compliance; local, state and federal permitting; and related litigation
Mackie Shea, PC
20 Park Plaza, Suite 1118, Boston MA 02116 | 617-266-5700 | www.lawmso.com
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Tel: 781-878-4540 NE NY PE Project Manager, Design & Permitting Size: 10x6 POM Section: CONGRATULATIONS TO TURTLE ROCK, LLC From: Run Date: 0 AND THE 1000 BOSTON TURNPIKE TEAM
Site Design Site Survey and Mapping | Land Use Planning and Permitting | Site Infrastructure Design | Landscape Design | Geotechnical Investigations | Stormwater Management and Control | Site Grading | Wetland Delineation
101 Accord Park Drive Norwell, MA 02061 Kelly Killeen, PE 781.982.5400
[email protected] chacompanies.com
Proud to Partner on Projects that Responsibly Improve the World We Live In #theCHAway
Retail Trends & Development
16B December 22 - 28, 2017
New England Real Estate Journal
2017 Retail Top Projects PROJECT TEAM: PCA, RJ O’CONNELL, HINCKLEY ALLEN, VANASSE & ASSOC. AND SELBERT PERKINS
Boylston Properties and The Wilder Companies to transform 20-acre property – Arsenal Yards June 23, 2017 Just west of downtown Boston, along the Charles River, the city’s next great neighborhood is about to become an exciting new reality. In the East End of Watertown, where Cambridge meets Boston, the 20-acre property encompassing the outdated Arsenal Mall and adjacent properties will be transformed into the new ArsenalYards, a dynamic allin-one living, shopping, dining, and entertainment destination offering an urban vibe with the ease of a suburb. The mixed-use property will embody modern city life redefined for the 21st century with 325,00 s/f of retail space, 425 residential units, 160,000 s/f of office space, a 150-room hotel, and entertainment offerings including a movie theatre and an exceptional food/wine venue offering bowling and bocce. The development will feature abundant outdoor space and access to Arsenal Park and the Charles River. Arsenal Yards is a joint venture of two Boston-based companies: Boylston Properties, a development firm specializing in progressive mixed-use urban projects; and The Wilder Companies, a retail real esWATERTOWN, MA
tate development, management, and leasing firm. The companies acquired the property in 2013 with the vision of transforming it into a vibrant new urban hub. “Like Boston, Somerville, and Cambridge,ArsenalYards’exceptional location immediately inspired our vision for the property as a dynamic, connected destination,” said Bill McQuillan, principal of Boylston Properties. Set strategically at the intersection of community and convenience,
Arsenal Yards is highly accessible to Greater Boston with 1.2 million residents and 993,000 employees within a 10-minute drive of the project. The area is growing rapidly, with 10,000 new residences built within a threemile radius since 2010, and a projected growth of 17% within one mile of the property. Major surrounding businesses include athenahealth,Tufts Health Plan, New Balance, Bright Horizons, and Mt. Auburn Hospital. For Tom Wilder, a Wilder Companies principal, Arsenal Yards em-
Civil Engineering
bodies the firm’s mission of shaping today’s retail experiences by creating properties that surprise and delight with entertainment and lifestyle benefits. “ArsenalYards will be an exciting, exceptional all-in-one destination to meet today’s customer’s high expectations with curated shops, a specialty grocer, chef-driven eateries, a premium wine store, boutique fitness studios and various entertainment offerings,” said Wilder. “The opportunity to unite commerce, history, entertainment, recreation, and social experiences at this property is incredible.” Aesthetically, Arsenal Yards, the name selected as a nod to the heritage of East End Watertown as a commercial hub for nearly two centuries, will offer an attractive mix of old and new, with creative architectural additions, respectful restoration and sustainability as priorities. The two historic buildings that comprised the original Watertown Arsenal, an ordnance depot and small arms factory built in 1816, will be retained and restored, featuring re-exposed classic masonry and original steelwork. They will be reintroduced as street front retail and comprise roughly half of the total retail space. Additionally, the 20-acre
neighborhood will have different sections, each with their own identities: The Woonerf – a Dutch word for “shared street” – will have residential overlooking a very pedestrian street with a European feel. There will be the ability to close off the streets for special events and music. The retail merchandising in the Woonerf will reflect its European feel. Main St. offers an urban vibe, with historic buildings on one side of the street and contemporary on the other. River Green connects to the adjacent Arsenal Park, which fronts the Charles River. This will be a high-energy area with an interactive play space; highly activated with a direct connection to the park. 425 new residential units in various buildings throughout the property will offer a mix of living choices from rental to for-sale units, ranging from studios to multi-bedroom floor plans. All buildings will be reviewed for LEED Silver compliance. Groundbreaking for Arsenal Yards is set for this fall, with construction completed over the course of three years. The majority of the retail, the hotel, and new parking decks are slated to open in spring 2019, followed by the residences in 2020.
Retail Trends & Development
nerej.com
December 22 - 28, 2017 17B
AT MIT’S KENDALL SQUARE DEVELOPMENT IN CAMBRIDGE
Roche Bros. Supermarkets to open 19,000 s/f Brothers Marketplace
Bailey and Kuhrtz of Comm’l. Realty Advisors close $372,000 sale
Commercial Realty Advisors, Inc., completed a $372,000 sale of the 2,700 s/f former SANDWICH, MA
Christopher Bailey
Bradford Kuhrtz
MaypopAntique Shop at 161 Rte. 6A. Christopher Bailey, CCIM and Bradford Kuhrtz, listed and closed the sale, December 4. The buyer is “Legit Lacrosse” formerly in Mashpee Commons, and will be opening soon.
161 Route 6A - Sandwich, MA
Closed Existing Restaurants • Highly successful upscale Mexican restaurant chain seeks to expand in New England and Eastern NY/Northern NJ markets • Seeking free standing former table-tops and Downtown street fronts in high density and/or upscale urban/suburban markets • Seeking intact kitchens with venting, fire suppression and walk-ins in place • Outside dining a plus Contact Daniel Plotkin
NORTHEAST RETAIL LEASING & MANAGEMENT COMPANY, LLC
Square and meet the local community’s long-standing need for a grocery store,” said Rick Roche, co-owner and CEO of Roche Bros. “The MIT Kendall Square neighborhood is a
dynamic and growing community, and we hope our neighborhood market becomes a favorite grocery and dining experience for area residents and businesses.”
360 Bloomfield Avenue, Suite 208, Windsor, Connecticut, 06095
Cell: 413-237-9629
Email:
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MIT’s Kendall Square Initiative delivered on a key commitment to the Cambridge community with the announcement of a fully executed lease with Roche Bros. Supermarkets to open a Brothers Marketplace at One Broadway. A grocery store was the most requested retail use specified by neighborhood residents, local employees, and students during the zoning process for MIT’s Kendall Square development. The 19,000 s/f Brothers Marketplace is expected to open in summer 2019. The ground floor of One Broadway is currently under construction to make room for the future grocer, as well as a repositioned lobby, a restaurant, and a new home for Dunkin’ Donuts. The One Broadway renovations are part of a larger development at the site, which will include 300 residential units and an additional 12,800 s/f of retail. “The community’s desire for a grocery store was raised in every conversation that we had with stakeholders during our zoning process,” said Steve Marsh, managing director of MIT’s Real Estate group, which oversees MIT’s Kendall development. The new market is expected to bring about 50 jobs to the neighborhood. Roche Bros. has a long history of working closely with the communities it serves around philanthropy and employment opportunities. The company has won numerous awards for job quality and workforce development. “We are excited to open our Brothers Marketplace store in Kendall CAMBRIDGE, MA
WA N T E D
18B December 22 - 28, 2017
Retail Trends & Development
New England Real Estate Journal
TO SMOKE WORLD LLC AND ORANGETHEORY FITNESS
RHYS closes two leases totaling 5,315 s/f in Connecticut According to RHYS, a Stamford-based commercial real estate firm, Smoke World LLC is moving to the Shelton Town Center. The new 1,865 s/f store at 350 Bridgeport Ave. is a smoke shop/ variety store primarily selling cigars and other tobacco based products. This will be the first store of its kind in the area and will be located next to Planet Pizza. “Smoke World will be a welcome addition to Shelton’s expanding retail corridor,” said RHYS director Wes Craft. “They will enjoy a prominent presence in a busy, highly trafficked area.” RHYS senior vice president Tyler Lyman, vice president Ryan Stranko and Craft represented the landlord, Shelton Town Center LLC, and were the sole brokers on the deal. SHELTON, CT
350 Bridgeport Avenue - Shelton, CT In another transaction, Orangetheory Fitness is moving to Guilford Center, a CVS anchored outdoor shopping center. Orangetheory Fitness, a national fitness franchise, will occupy a 3,450 s/f space at 1057-1069 Boston Post Rd.This will be the first Orangetheory in the area and will be located next to Pet Valu, alongside other tenants including Supercuts and recently signed Guilford Coffee House. Lyman and Craft represented the landlord, Finast Acquisition, LLC. Rob Marona and Nick Marona of Newmark, Knight Frank, represented the tenant.
NED’s Asheville Outlets earns ICSC award The International Council of Shopping Centers (ICSC) has named the winners of the 2017 U.S. Design and Development Awards competition, recognizing excellence, innovation and creativity in the U.S. retail real estate industry. ICSC has named Asheville Outlets a commendation winner in the Renovations and Expansions category. Asheville Outlets was developed and is managed by New England Development. Sharon Morgan, Asheville Outlets general manager said, “We are honored that Asheville Outlets won this prestigious award and pleased to be recognized by ICSC for the creative reimagining of a regional mall into a successful outlet center.” Only nine real estate developments throughout the country won an award, and Asheville Outlets was the only outlet center to achieve this distinction. ASHEVILLE, NC
nerej.com
Retail Trends & Development
December 22 - 28, 2017 19B
LOOKING FOR SITES 1,000 - 1,800 Sq. Ft.
In all of Rhode Island, and Massachusetts, Plymouth, Bristol and Barnstable Counties Contact: Christine Stowell, Esq., 401-434-3329
[email protected]
In all of New Hampshire Contact: Dave Beckwith, 603-223-2557
[email protected]
Suffolk, Norfolk, Middlesex and Essex Counties, MA Contact: Bob Hurley - Development Agent 508-872-9800
[email protected]
NY Tel: 781-878-4540 PROOF NE REAL ESTATE JOURNAL
Retail Trends & Development
20B December 22 - 28, 2017
New England Real Estate Journal
STUDIO SCALVI, DESIGN REPUBLIC, ARCHTS.; FORTE ENTERPRISES, GC
Tom Hill III, CCIM/SIOR
Bvlgari to open 2,864 s/f store at 14 Newbury St. in Boston BOSTON, MA Bulgari, the Roman high
Hill’s Gallery is back every Saturday starting September 9th-December 16th, 9AM to Noon. Jazz, blues and conversation! Live call in line - 203-757-1320 www.tomhillradio.com / www.watr.com live stream and tune-in app. www.tomhill.com / www.watr.com
One Broadcast Lane, Waterbury, CT 06706 Phone (203) 206-8631 e-mail:
[email protected]
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jeweler, master of colored gems, will be opening its first boutique in Boston at the historical building of 14 Newbury St. Following the renovations of the brand’s historic Roman flagship and New York 5th Ave. flagship, an architectural concept by Peter Marino is being revealed in key locations across the globe, including Boston. “This milestone marks a special moment for Bulgari, as it brings our Maison’s Roman roots and spirit of innovation to Boston, a very important city for the brand,” said Daniel Paltridge, president of North America. “We are pleased to open our boutique on Newbury Street in a manner that represents the contemporary Bulgari brand while simultaneously paying tribute to our rich, Roman heritage.” Mediterranean and Roman ele-
ments imbue the new 2,864 s/f Boston boutique, evoking the spirit of the Eternal City. The concept features the use of marble and stone found in ancient Roman buildings. Bois Jourdan marble on the en-
trance and star-patterned White Travertino Navona welcomes visitors and encompasses a key design element, the Condotti eight point star, in red porphyry. The signature eight-point star dates back to the first Bulgari shop in Rome opened by Sotirio Bulgari in 1884. The star is a unifying symbol found in all Bulgari boutiques, honoring Rome as the brand’s home. The marble used in the storefront and interior was imported from the Italian firm Damiani. The architects for the new Bulgari Boston boutique were Studio Sclavi and Design Republic, and the general contractor was Forte Enterprises LLC.
Mace of KeyPoint Partners negotiates 6,900 s/f for L Brands
SOUTH BURLINGTON, VT KeyPoint Part-
ners, LLC (KPP) has negotiated a lease with L Brands for an expansion and relocation of the Victoria’s Secret and Bath & Body Works stores at University Mall (UMall), according to Robert Lemons, Don Mace managing partner of the firm. KPP vice president of leasing, Don Mace completed the transaction. Victoria’s Secret and Bath & Body Works, both long-time tenants at UMall, have been located in adjacent spaces totaling 6,900 s/f. The stores will relocate across from the food court, occupying newly reconfigured spaces totaling more than 10,200 s/f. Construction will commence in early 2018 and the new store opening is planned for summer 2018. KPP also negotiated a lease with Target to open a store at University Mall next year. “The expansion deal withVictoria’s Secret and Bath & Body Works is the catalyst for revitalizing the mall and our re-tenanting efforts,” Mace said. UMall, located on Dorset St., isVermont’s largest enclosed mall at more than 610,000 s/f. UMall is anchored by Kohl’s, JCPenney, and Sears.
nerej.com
Retail Trends & Development
December 22 - 28, 2017 21B
In the spirit of the SEASON, we extend a heartfelt THANK YOU and wish you the very best in the NEW YEAR!
Retail Trends & Development
22B December 22 - 28, 2017
New England Real Estate Journal
WITH MADDERN OF DAVID ADAM REALTY
Charter Realty arranges 2,400 s/f lease for Harvest Restaurant
Marc D. Koenig
Principal
MDK REALTY
Charter Realty has arranged a 2,400 s/f lease for Harvest Restaurant at 60 LaSalle Rd. The transaction was arranged along with Sharon Maddern of David Adam Realty. Harvest Restaurant will be joining CVS, Chipotle, Starbucks and H&R Block. The business is known for their custom cuisine from the farm to the fork with its Asian, Latin and Mediterranean influence. Harvest offers brunch, lunch, dinner and wine & cocktails. The owners of Harvest personally travel to the Catskills to pick up freshly butchered grass-fed cow beef and deliver the produce to each of their restaurants. Harvest strives to offer excellent food and an inviting atmosphere for its customers. WEST HARTFORD, CT
Development, Investment, Brokerage, Site Selection, Tenant Representation of Retail Properties, Land and Mixed Use Developments T: 508-359-4454 C: 617-645-3636
[email protected] Current retail space available: 3383-3385/3399 Washington St., Jamaica Plain New Retail 2150 Providence Highway (Route 1) Walpole Free Standing , Retail/Office 4,312 sf Current tenant assignment: National adult themed retail store looking for free standing 2,500 sf ± buildings zoned for its use.
Changes
Size: 2x4 From: Joanne
New Proof
Proof Approved
Section: Retail - SC
crop 2”
NE NY Tel: 781-878-4540 PROOF REAL ESTATE JOURNAL Bike Lockers | Bike Shelters
| Bike Racks | Wall Racks
Arrowstreet wins Gold Award for retail store design from ICSC BOSTON, MA According toArrowstreet
Inc., a Boston-based architecture and design firm, its work on the Target small-format store at Packard’s Corner on Commonwealth Ave. received a Gold accolade in the Retail Store Design category at the 2017 U.S. Design and Development Awards competition in Scottsdale, AZ. Presented by the International Council of Shopping Centers (ICSC), the 2017 U.S. Design and DevelopmentAwards recognize excellence, innovation and creativity in the U.S. retail real estate industry.
Run Date: 10-27
Vintage Racks
Quad Rack
ProPark Lockers
Sean Selby accepting Arrowstreet award
Orders or inquiries to:
93 West Street PO Box 650 Medfield, MA 02052-0650 OFFICE 508.359.4200 TOLL-FREE 800.835.0056 Fax 508.359.2817
ELEMENTS FOR A GREAT OUTDOORS
[email protected] obrienandsons.com
CycleSafe bicycle parking products contribute to ® LEED certification promoting site sustainability, alternate transportation, and community fitness.
Formerly the site of a car dealership, the award-winning Target is located near Boston University’s campus, adjacent to the city’s Fenway neighborhood. The 20,000 s/f store boasts a well-designed layout to accommodate its deliberately small size. It has large skylights which allow plenty of ambient lighting to enter the space, and specialty focal lighting and graphics to help shoppers easily browse the aisles. It also offers online ordering, in-store pickup and home delivery services. “Designing for an iconic brand such as Target, to bring accessibility to fresh groceries and other everyday items to shoppers in the area, was an exciting challenge. For our work to be recognized among so many other great designs is truly an honor,” said Arrowstreet principal Sean Selby.
Retail Trends & Development
nerej.com
December 22 - 28, 2017 23B
Wishing all my clients, friends and their families a happy and healthy holiday season and a prosperous new year. I thank all for working with me over the last year as well as years past for their confidence, support and success. My commitment to achieve positive results for my clients is surpassed only by their faith in our ability to work together towards that end.
Thank you and Happy New Year!! Marc D. Koenig MDK REALTY Brokerage, Development, Investment, Site Selection, Tenant/Landlord Representation of Retail Properties, Land and Mixed-Use Development
Office: 508-359-4454
|
Cell: 617-645-3636 NY Tel: 781-878-4540 PROOF NE REAL ESTATE JOURNAL
|
[email protected]
Retail Trends & Development
24B December 22 - 28, 2017
New England Real Estate Journal
Space Available Guide Name of Center Location
Size of Unit Available
Adjacent Stores
Key Tenant
The Bristol Shopping Center Intersection of Hope St. (Rte 114) & Gooding Ave., Bristol, RI Established 1959
6,000 SF Retail 2,800 SF Retail End Cap 530 SF Office 1.5 Acre Pad Site
Dollar Tree Dunkin Donuts
Ace Hardware BankNewport Peoples Credit Union
Main Street Shopping Center
1,350 - 6,300 SF
CVS Pharmacy 7-11
CVS Pharmacy
98 Main Street (Route #109) Medway, MA
1,200 SF Retail
Tri-Valley Sports Condon’s Servicestar Hardware Store
Ocean State Job Lot Family Dollar Carquest
New London Shopping Center
19,000 sf dividable, 3,000 SF
Harbor Freight Tools Citizens Bank Radio Shack
Staples, Burlington Coat
1,000 SF
Next Day CPA Exit Team Realty
D’Angelo’s Domino’s Pizza Curves For Women
Up to 135,000 SF Anchor 1,440 SF In-Line 3,600 SF | 7,000 SF | 20,000 SF Pad Sites
Golds Gym, TD Bank Childrens Orchard
Stop & Shop TJ Maxx, Home Goods
52,000 SF May Subdivide 2-4,000 SF
CVS Washington Trust D’Angelos
Shaw’s Supermarket
1,200-2,400 SF
Bobs Discount Furniture Borders’ Books
Gymboree, Quiznos Pride Kitchens Huntington Learning Ctr.
Rtes. 1A & 27, Walpole Center
Medway Plaza Shopping Center
I-95 New London, CT
The New Village Plaza
375 Putnam Pike (Route #44) Adjacent to the Crossing at Smithfield Smithfield, RI
Quarry Square Shopping Center Route 16, Milford, MA
Shopperstown
Corner Rt. 44 - Taunton Ave. & Rt. 1A Pawtucket Ave. East Providence, RI
Sun Plaza
295 Daniel Webster Highway Nashua, NH
Contact Gooding Realty Corp. Raymond S. DeLeo P.O. Box 343, Bristol, RI 02809 401-253-3190
Property Pros
David M. Goldman 617-566-1110, Fax: 617-879-1900
Diversified Funding Inc. Paul R. LaPerriere 617-227-0893, ext #662
[email protected]
BEST BROKERS Daniel Del Grosso 860-443-2003
Diversified Funding Inc. Paul R. LaPerriere 617-227-0893 ext #662
[email protected]
Fafard Real Estate Larry Doane 508-881-1600 x321
[email protected]
Jobel Realty, Inc. 781-329-5090
Ronex Corp. David Eck 781- 489-6282
Networking to over 25,000 Prospects Every Month Small Listing $69, 6 month minimum
For more information about advertising please call Joanne Connolly Shopping Centers Publisher Space Availability Guide 1-800-654-4993, x243, Fax 781-871-1853
[email protected], www.nerej.com
Retail Trends & Development
nerej.com
December 22 - 28, 2017 25B
Space Available Guide Name of Center Location
Size of Unit Available
Adjacent Stores
Key Tenant
Contact
Wamesit Place
1,600-7000 SF
WalMart El Pollo Loco
Mattress Giant Super Cuts Verizon Wireless
Empire Management Corp.
Webster Square Plaza
15,000-30,000 SF Avail 2,000 SF Available in new bldg.
15,000-30,000 SF A.J. Wright F.Y.E.
AJ Wright, Shaw’s 2,000 SF New Bldg.
Beal and Company, Inc.
Westborough Shopping Center
1,500 SF-7,000 SF
Starbucks Dress Barn Tatnuck Booksellers
Stop & Shop Marshalls HomeGoods Staples
Progressive Realty Consultants
Ocean State Job Lot
Papa Gino’s Dunkin Donuts
Rte 38/495, Tewksbury, MA
Worcester, MA
Rt. 9 Lyman St. Westborough, MA
Westmeadow Plaza Route 9 / Route 135 Westborough, MA
1,800 SF End Cap with possible drive-thru 1,400 SF In-Line
Lawrence Gordon 978-263-1000
Steve N. Faber, Mike Tammaro 617-451-2100 ext. 223
508-366-4163 www.westboroughshoppingcenter.com
Fafard Real Estate Larry Doane 508-881-1600 x321
[email protected]
Retailer Space Seeking Guide Tenant
Location
Type of Space
Size
New England
In-Line End Cap
5,5006,500 SF
CT, MA, RI, NY
Free Standing, Pad Sites for Gas, Convenience
30,000 50,000 SF Plus
New England
Open Free Standing High Visibility a Plus, Minimal Parking
50, 150,000 SF 1 Acre Plus
Massachusetts, New Hampshire, Maine, Vermont
In-Line, Pad, or Existing Buildings in high traffic retail areas
6,000 10,000 SF
# of Stores
# Planned over the next 5 years
Contact Restaurant Sites
103
20
Richard M. Gallivan 28 Somers Road, Hampden, MA 01036
[email protected]
Mercury Fuel Service Inc.
80
10
Michael J. Devino, Jr. 43 Lafayette St., Waterbury, CT 06708 203-756-7284
R.J. Kelly Companies 5
82
55 Cambridge St. Burlington, MA 01803 781-272-2899
25
15
Northeast Retail Leasing & Management Company, LLC Daniel Plotkin 360 Bloomfield Ave., Windsor, CT 06095 860-683-9000, Fax 860-683-1600
Networking to over 25,000 Prospects Every Month Small Listing $69, 6 month minimum
For more information about advertising please call Joanne Connolly Shopping Centers Publisher, Space Availability Guide 1-800-654-4993, x243, Fax 781-871-1853,
[email protected], www.nerej.com
Back Page B December 22 - 28, 2017
Retail Trends & Development
New England Real Estate Journal
Classified
Featuring
AUCTIONS
Section C
CAPE COD Centerville René L. Poyant, Inc. GEREAL ESTATE MANA MENT
René L. Poyant, Inc. REAL ESTATE MANAGEMENT Post Office Square, 20F Camp Opechee Road
Centerville, MA 02632 Tel: 508-775-0079 Fax: 508-778-5688
[email protected]
RETAIL SPACE FOR LEASE Auburn Plaza Shopping Center Routes 12 and 20 Auburn, MA • 3,200± sq ft Retail Unit between T. J. Maxx and Park’n Shop Supermarket • 550± sq ft free standing building (former bank) with drive-up window 77,161± sq ft strip shopping center at signalized intersection with frontage on Routes 12 and 20–1/4 mile to Route 290 and Massachusetts Turnpike.
HIRSCH&COMPANY (603) 886-4700
[email protected] www.hirschco.com
FOR SALE
SOUTHERN N.H. OFFICE BUILDING
9 POWERS STREET, MILFORD, N.H.
USER / OWNER OPPORTUNITY Single-Story Office Building Avail SF: 524 ± SF Site Size: 0.15 ± Level Acres
PURCHASE PRICE: $85,000 Season’s Greetings!
VEAR COMMERCIAL PROPERTIES, INC.
603-882-6000 www.vear.biz
Million$ of Offering$ Sale Lease Wanted
New England Real Estate Journal
December 22 - December 28, 2017 PLAISTOW, NH ROUTE 125
BURLINGTON, MA RESTAURANT SITES • 84-144 Seats • 4,600 SF to 10,000 SF
7,500 SF Available Office/Retail Space
• Next to Burlington Mall
• 2,500 SF Office • 5,000 SF Retail • Traffic Count 20,000 CPD • 1.9 Acres of Land • Owners will Build-to-Suit • Commercial 1 Zoning • Lease $8.80 SF NNN
• 100% Location Exclusive agent
Call Steve DeSisto
Roy C. Papalia, Jr. (617) 484-7474
cell: (617) 306-7797
[email protected]
FOR SALE/LEASE Gas Stations with C-Stores CT, MA & NY Existing Locations & Sites Available Contact: Jim Neckermann, Broker
Commercial Real Estate Group 860.883.6312 email:
[email protected]
40 Kenoza Avenue • Haverhill, MA Office: (978) 373-3897 • Cell: (978) 852-5559 email:
[email protected]
ALL CASH PURCHASES • Store Blocks • Shopping Centers • Net Leased Properties Quick Response to Submissions By Principals
INVESTOR SEEKING 1031 EXCHANGE Retail or Medical Only Price Range: $1 to $10 Million Will Pay Low Caps Confidential Area: Mid to Southern New England Free Opinion of Value
Brokers Welcome
Jordan L. Rittenberg & Co. 25 Bound Brook Rd. Newton, Mass. 02461
(617) 964-3765 FOR LEASE AUBURN, MA
OFFICE / WAREHOUSE
Office Space 10,000, 5,000, 2,500 & 1,500 sf Warehouse Space 5,000 sf, 10,000 sf 15,000 sf, 20,000 sf 35,000 sf & 50,000 sf Convenient access to I-190, 290, 395, 495, Mass Pike & Rtes. 20 & 146
Call 978-365-4585
AUBURN INDUSTRIAL DEV. CORP. www.aidc.com
Proprietors and Brokers
Please Call Owner Charles: 401-835-4712 FOR SALE
Office/R&D/Hangar Nashua Municipal Airport $1,350,000
• Building 1 is 12,840 SF (8,880 SF office & 3,960 SF hangar) • Building 2 is 6,742 SF (5,482 SF hangar & 1,260 SF office) • 12,000± gallon double wall steel underground jet fuel storage system • Directly off the runway
603-880-6655 www.prolmanrealty.com
2C December 22 - December 28, 2017
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Business / Investment For Sale
Restaurants Stores Nursing Homes
Motels Apartments Farms
FOR SALE
RETAIL/RESTAURANT
112-114 Housatonic Street, Lee, MA
Businesses Condos Land
For Sale Southern NH
ONLY $995,000
Mark Healy Macmillan Group 413-244-6715
[email protected]
Call Ralph for confidentiality agreement.
FOR SALE - KINGSTON, NH 10.63 Aces & Building Northbound Route 125
u 832' Frontage on Rt. 125 u 826' Frontage on West Shore Park Rd. u 348' Frontage on Kasher Drive u Attractive Block Building with Office Space u Conference Rooms and Garage u Ample Parking u Well & Septic in Place u Currently Four Lots - Seller will sell separately or one parcel u Currently a Used Car & Heavy Equipment Dealership
$1,250,000
_________________________________________________________________
603.434.9700
____________________________________________________________
Shopping Centers Hotels Mobile Parks
35,000 sf building on 5 + ac.
46 Acres Industrial
This 35,000 sf building sited on 5.5 acres is serviced Interesting parcel for developers with vision, by mun. water/sewer and nat’l gas. Clear height is 16’ close to Exit 3 Interstate 93. This parcel offers 10 plus, with 5 interior dock-high loading doors and one +/- ac of developable area, plus 36 acres of oversized drive-in door. Too many Seller reports to steep, wooded terrain with great views peaking list, incl. extensive engineering reports, all are at over 420’ elevation. The 10 acres is primarily available. The building can be expanded. Location is influenced by other industrial uses, while most of on busy Route 28, influenced by retail, service, food the 36 acres abuts several homes. The 46 ac site and prof. services. $1,599,000. is zoned Industrial. By right, the site supports Single Tenant Net-Leased Investment for sale. warehouses and contractor yards, but other Property serves as the production facility and industrial uses are allowed, incl. a cell tower. Corp. HQ for well-established operator.
• Approx. .44 acres of land located one quarter mile between downtown Lee and Exit 2 of the Massachusetts Turnpike • 84 ft. of frontage on Housatonic Street (Route 20) • 4,400 SF • Zoned Business A-1 • Seating for 30+ • Traffic count: 22,000 VPD • On-site parking, 20 vehicles, public parking abuts property • Asking: $578,000
FOR SALE
Lease Wanted
The Merrill Bartlett Group Office: 603-642-5171 Website: www.mbgre.com
FOR LEASE
UXBRIDGE, MA - FORMER RESTAURANT Located at Intersection of Rtes. 146A & Rte. 122
Double Space (2-3/8" x 7-5/8") Please bill me ❏ (4 Fridays) $480 — ❏ (2 Fridays) $280 Pay in advance - SAVE
• 21,000± total SF • Owner willing to subdivide • Set on approx. 3.5 acres Proposed Project Renderings
Prepay — Check/Charge ❏ (4 Fridays ) $400 — ❏ (2 Fridays) $240
Call Karen Dowell (781) 878-4540 x254
• Ideal for: Wedding, Special Occasions & Events • Town Water, Sewer & Gas • Parking for 250-300 cars • Liquor Licenses Available
FAX (781) 871-1853
Agent Contact Info: Barry Desruisseaux
or
Deruseau Real Estate
email:
[email protected] website: www.nerej.com
20 South Main Street, Uxbridge MA 01569
617.877.3833 •
[email protected]
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New England Real Estate Journal
December 22 - December 28, 2017 3C
Chozick Realty, Inc. Commercial & Investment Real Estate Since 1967
441 Apartment, 9 Property Portfolio East Hartford, CT
Pearl Street Condominiums Springfield, MA
Offered for $32,495,000
Offered for $2,995,000
441 units at 9 addresses within a 2-mile radius in the suburb of East Hartford, CT, only 5 minutes from Downtown Hartford. Exceptional unit mix of 3 3-BR units, 81 2-BR townhouses, 106 2-BR flats, 150 1-BR flats and 101 studios. New windows, boilers, insulation, lighting and roofs. All locations provide on-site laundry and off-street parking. Significant rental upside potential with cosmetic upgrades.
47 condominium units with controlling and managing interest in a 52 unit building. Located on a quiet street close to Springfield’s Metro Center. Unit mix of 16 1-BR and 31 2-BR condos. Recent improvements include gas conversion, replacement windows, updated electrical, security system, 3 new H/E boilers, and new steel egresses/porches in rear. Will be delivered with new roof. Ample off-street parking.
Stonington Estates Norwich, CT
Carriage House Apartments Storrs, CT
Offered for $10,900,000
Offered Unpriced
71 2-BR “Class-A” apartment units in a highly desirable and seldom available Norwich/New London market. 40 units have been enhanced in the last 12 months, creating an average $200/mo rental increase. Resident amenities include a fitness center, tennis court, private balconies, and more. Located close to world-class employers as well as Foxwoods & Mohegan Sun Casinos.
65 Student Townhouses—64 2-BR units and 1 4-BR unit. Many recent improvements. Walking distance to campus and on University’s shuttle bus route. Future development potential on 23 acres with public water coming to Hunting Lodge Road. Preliminary site review indicates expansion up to 750 beds.
Chozick Realty has a 50 year history of closing commercial transactions and is the longest established multifamily specialist in Connecticut. Our deep market knowledge combined with our years of experience provide an invaluable tool for our clients in obtaining the greatest property values. Demand for multifamily assets are at an all time high. See what our brokers can do for you. Call Today.
100 Wells Street, Suite 1D Hartford, Connecticut 06103 www.chozickrealty.com
[email protected] (860) 247-7400
4C December 22 - December 28, 2017
Visit the paper online nerej.com
Office / Retail
Office Space Office Space Retail Space Retail Space en wh lable d l i ai u y B ne Av h W is o re h T e
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For Sale
Lease Wanted Condos Condos R&D R&D
FOR LEASE RETAIL/OFFICE/BANK WITH DRIVE-THRU One Pond View Place • Tyngsboro, MA
Warehouses Warehouses Sites Sites
RESTAURANT / RETAIL SPACE SO. NASHUA, NH E FRE 2
THS
N MO
2,400 3,600
3,275 SF
SQUARE FEET
Everything in place for a Financial Institution Vaults, Safes, etc. • 10 Adjoining Condo’s • Great for Bank Branch, Mortgage Company, Insurance Company, possible Coffee Shop, etc. • All Vaults, Safes & Furnishings, available For Sale
BROKERS EARN 150% COMMISSION
SUN PLAZA, 295 D.W. HIGHWAY
RONEX CORP. 781-489-6282 Ext. 11 •Email:
[email protected]
Call For a Showing
978.866.0576
• Across from Pheasant Lane Mall • New electronic sign to advertise your business • $22/PSF
CURRENT AVAILABLE PROPERTIES
Tewksbury, MA 2,500 SF of Retail/Office Space
AMESBURY, MA 49 S. HUNT RD. - 18,400 sf, subdividable to 8,800, office, loading docks & drive-in doors. $6.95 NNN
HAVERHILL, MA FOR LEASE - $6.95 PSF NNN 11 ROGERS RD. - 18,700 sf w/office, loading & drive-in doors. 20' clear height 34 ROGERS RD. - 4800 sf. Office, warehouse, 1 dock, 1 drive in 175 FERRY RD. - 6600 sf - 1 dock, 28' clear height - office 183 FERRY RD. - 6,300 sf - 2 docks, 24' clear
The space is located in a 14,000 SF retail plaza at 1120 Main St. (Rt. 38) Tewksbury. The property was built in 2005 and has 370 ft. of frontage on busy Rt. 38. It is nicely landscaped and has an abundance of parking. Very strong demographics and high traffic count make this location very desirable. The anchor tenants are: Enterprise Bank and high volume Crystal Convenient Store. Many national and regional tenants, like Home Depot, Market Basket, Papa Ginos, Staples, TD Bank, Bank of America, Super Wal-Mart center, Dunkin Donuts, etc are located in a very close proximity, along Rt. 38.
RENAISSANCE REAL ESTATE CO.
Phone:
233 NECK RD. - 3,186 sf, 2 loading docks,2 drive-in doors, 14’ clear - subdividable
FOR SALE
34 SHELLEY RD. - 10,000 sf - warehouse w/office, 1 dock, 1 drive in, 15’ clear VISA®
10 AVCO RD. - 1,600 sf office space
MasterCard
METHUEN PROPERTIES
AMERICAN EXPRESS
126 MERRIMACK ST. - 40,000 sf sub-dividable, ++ power, office. Loading & drive-in doors. $6.95 NNN
SC
Contact: Scott Companies 978-374-0034 scott-companies.net
(781) 334-2476 • email:
[email protected]
SC
Double Space (5" x 3-5/8") Please bill me ❏ (4 Fridays) $480 — ❏ (2 Fridays) $280 Pay in advance - SAVE Prepay — Check/Charge ❏ (4 Fridays ) $400 — ❏ (2 Fridays) $240
Call Karen Dowell (781) 878-4540 x254 • FAX (781) 871-1853 or email:
[email protected] • website: www.nerej.com
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New England Real Estate Journal
Office / Retail For Sale
Office Space Office Space Retail Space Retail Space
Lease Wanted Condos
December 22 - December 28, 2017 5C
Warehouses Warehouses Sites Sites
Condos R&D R&D
ACTIVELY ACQUIRING Urban & Suburban
linearretail.com
Major 45 Unit Franchisee Expanding in New England
MASS
Eastern Mass - from Boston North and West to Rte. 495, from Boston South including all of Cape Cod
NH
Entire State
MAINE
From NH line to Mid-State
LAND SIZE: Minimum 3/4 acre buildable BUILDING SIZE: 2,600 s.f. to 3,500 s.f. - 40-80 seats with drive-thru DEAL TYPE: Purchase or Ground Lease
Exclusive Franchisee Broker: Mark Shair M&J Associates, Inc. - Tel: 617-454-1030 Email:
[email protected]
Territory: Eastern MA, Southern NH and RI
Property Types: Strip shopping centers,
Size: 5,000 SF-125,000 SF (or smaller for urban properties)
urban retail, retail condominiums, storefronts,
Price Range: $2M-$50M (typical)
banks and restaurants
retail development parcels, freestanding retail,
Aubrey Cannuscio Partner - Acquisitions |
[email protected] | 781.202.3545 Rick Rostoff VP - Acquisitions |
[email protected] | 781.202.3542
FOR SALE OR LEASE
5 INDUSTRIAL DRIVE, MATTAPOISETT, MA 1 Mile from Interstate 195 118,000 TOTAL SF 100,000 SF Warehouse & 18,000 SF Office Property Specifications • Building Size: 118,000 SF SITE
• Land Size: 10.87 acres • Utilities: Municipal Water & Gas • Clear Height: 16' to 22'
Lot Included
• Zoning: Industrial • Shelving: Heavy Industrial • Lease Rate: To be Negotiated • Sale Price: Call for Details
HOLLY MANAGEMENT - 508-775-9316
[email protected]
6C December 22 - December 28, 2017
New England Real Estate Journal
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JOSEPH PROPERTIES • 603-641-8608
[email protected]
FOR SALE OR LEASE
COMMERCIAL RETAIL BUILDINGS & DEVELOPMENT LAND 158-159 Temple Street, Nashua, New Hampshire
• 4.4± Acres • 14,420± Total Squre Foot Building • Zoning: General Industrial (GI)
• Location: Steps away from Route 111 (East Hollis Street) and Route 101A (Bridge Street) with easy access to both Downtown Nashua and neighboring Hudson • Permitted Uses: Industrial, Commercial & Warehousing
This high visibility property is an ideal location for a variety of commercial uses. It consists of a 11,186 sq. ft. industrial building with a showroom space and a small repair shop situated on 4.4 acres. There is also the possibility of a curb-cut access to Bridge and Canal Streets. This site sits at the center of the East Hollis Master Plan study area. The plan anticipates the transformation of this industrial area into a thriving mixed-use destination served by a future passenger rail-station. The plan contemplates tax increment financing districts to help fund infrastructure and aesthetic improvements in the area.
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New England Real Estate Journal
December 22 - December 28, 2017 7C
The TheCity CityofofHolyoke, Holyoke, MA MA REQUEST FOR REQUEST FORPROPOSALS PROPOSALS
1575 Northampton Street - Former Lynch Middle School Former Lynch Middle School - 1575 Northampton Street
THE CITY OF HOLYOKE REQUESTS PROPOSALS FOR The of Holyoke proposals for redevelopment of the THECity PURCHASE ANDrequests REDEVELOPMENT OF the THEpurchase FORMERand LYNCH MIDDLE SCHOOL
former Lynch Middle School
Ø Prime location for commercial development - access to 120,000+ vehicles every day!
! Prime location for commercial development - access to Ø Great accessibility and visibility from I-91 Exit 17
120,000+ vehicles every day! Ø 2.9 acresaccessibility with 83,000 square feet of finished floor Exit space17 ! Great and visibility from I-91 ! 2.9 acres 83,000 square feet of finished Ø Suitable for with new site construction or building reuse floor space ! Suitable for new site construction or building reuse Ø Lowest electric rates in New England ! Lowest electric rates in New England For more information or questions please contact:
th A property inspection will be held at 2:00 pm on Tuesday, July 25 Lori Belanger, Chief Procurement Officer
For more
(413) 322-5650 or
[email protected] information or City questions please contact: of Holyoke Purchasing Department, Room 15 City Hall, Holyoke, MA 01040 http://www.holyoke.org/departments/purchasing-department/#extra1-tab
Lori Belanger, Chief Procurement Officer (413) or2:00
[email protected] All proposals must be 322-5650 received by pm on Thursday, January 18, 2018 City of Holyoke Purchasing Department, Room 15 City Hall, Holyoke, MA 01040 http://www.holyoke.org/departments/purchasing-department/#extra1-tab
8C December 22 - December 28, 2017
New England Real Estate Journal
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JOSEPH PROPERTIES • 603-641-8608
[email protected]
FOR SALE OR LEASE
295,335 SF INDUSTRIAL BUILDING - 21.58 ACRES 80 LAUREL STREET, KEENE, NEW HAMPSHIRE
RESIDENTIAL, STUDENT HOUSING, RETAIL, MIXED USE Property Specifications Building Size: 295,335 SF Whse/Mfg.: 270,335 SF Office: 25,000 SF Land Size:
21.58 acres
Type: Lt. manufacturing/ warehouse Year Built:
1900/1955 and stages
Utilities: Loading:
Municipal water, sewer & natural gas 17 overhead doors ranging from 8' x 8' to 14' x 20'
Cranes:
12 cranes ranging from 1.5-15 tons
Power:
240/480 volt, 3-phase
Clear Heights: Whse/Mfg: 12'-24' Office: 9'-10'
The property consists of a 295,335 SF industrial building of which 25,000 SF is office space and the remainder is used for light manufacturing/warehouse space. Formerly the home of Kingsbury Corporation, the property has great potential for redevelopment and consists of four parcels totaling 21.58 acres. Located near Keene’s Central Business District, it offers easy access to points north/south/east/west making it an ideal location for many businesses and just 3 blocks from Keene State College 150 acre campus.
Parking:
597 spaces
Zoning:
Industrial
County:
Cheshire
Taxes:
$50,341.51 (2012)
Lease Rate:
$5.00/SF
Sale Price:
Call for details
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New England Real Estate Journal
December 22 - December 28, 2017 9C
On Land, Sea or Air. Visit the largest weekly commercial/ investment newspaper in the country online! www.nerej.com
New issue every Friday
Includes direct link to your website or email address
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Shop, Rent-A-Center, CVS Pharmacy, Bank of America, H&R Block and Applebee’s 10C December 22 - December 28, 2017
Population Billboard | 2010 Census:
New England Real Estate Journal For Lease
Visit the paper online nerej.com
46,539 in 1 mile; 246,777 in 3 miles; 623,547 in 5 miles
Massachusetts Households | 2010 Census:
18,786 in 1 mile; 97,063 in 3 miles; 255,727 in 5 miles
Average Household Income | 2010 Census:
$73,786 in 1 mile; $76,098 in 3 miles; $86,980 in 5 miles
Established Supporting Advertisers Traffic:
25,000 cars per day; 12,000 pedestrians per day at the nearby MBTA T-station
Location | Convenience | Value
219
LOW FEES | GREAT RATES | STREAMLINED PROCESS
Call (888) 825-1785 or visit www.chase.com/MFL
Contact:
MIDLAND Construction
Greg Regazzini, VP, Director of Leasing
[email protected] ph: 781.321.7800, ext. 318 www.combinedproperties.com
Corporation
QUALITY
ESTABLISHED 1945 Call for a FREE Estimate 1-888-Sealer-O or 1-800-225-4015 Training is www.newenglandsealcoating.com
General Contracting Services Quality. Performance. Service Pre- Construction Consulting 1700 Dorchester Ave.,Managers Boston, MA 02122 Construction PERFORMANCE 617-446-1700 Design Build
www.midlandconstruction.com
Diversified Funding, Incorporated 63 Atlantic Ave., Boston, MA 02110 617-227-0893 www.diversifiedfundinginc.com
Our Strength
SERVICE
New England Carpenters Labor Management
Fantini & GorGa
1700 Dorchester Avenue, Boston, MA 02122 Telephone 617.446.1700
Since 1935
Connect with Combined Properties on Facebook and Twitter www.midlandconstruction.com
300 real Commercial St., Suite 25 rm, creating better places to live & work. sm A full-service estate development Your Property Management Solution. 265 Franklin St., Boston, MA 02110 Malden, MA 02148 617-423-7000 617-951-2600 781-321-7800 Combined Properties, Inc. | 300 Commercial St., Suite 25 | Malden, MA 02148 | 781.321.7800 | www.combinedproperties.com www.firstrealtymgt.com www.fantinigorga.com www.combinedproperties.com
750 Dorchester Ave., Boston MA 02125 800-275-6200 www.NECarpenters.org Temple Beth Elohim Wellesley, MA Credit: Bruce Martin Photographer
R
Remic
Griffin Electric provides ongoing training and education for all of our employees. Preparing our team to be leaders in the electrical industry is the commitment we make to ourselves and to our clients. We firmly believe our opportunity to be the best stems from the continuous improvement of our most valuable resource –
Unlocking Value in Commercial Real Estate
our people. This dedication to training is evident in the quality of
Properties
177 Worcester St., Wellesley, MA 02481 781-237-9500 www.remicprop.com
116 Hopping Brook Rd. Holliston, MA 01746 508-429-8830 www.waynejgriffinelectric.com
the work we do.
106 River St., West Newton, MA 02465 617-969-2521 www.bostonneca.org
One Burlington Woods Drive Burlington, MA 01803 781-273-5555 www.KeyPointPartners.com
Corporate Headquarters • 116 Hopping Brook Road, Holliston, MA 01746 • (508) 429-8830 Regional Offices • Charlotte, NC • Raleigh, NC • Duluth, GA • Pelham, AL www.waynejgriffinelectric.com
CT Lic ELC.0123697-E1
MA Lic A8999
King Painting Inc. 89 Hayden Rowe St., Hopkinton, MA 01748 888-538-7599 or 508-598-3511 www.solect.com
800-402-2265 www.stonehambank.com
617-369-6600
281 Winter St., Waltham, MA 02451 781-895-3270 www.vantagebuildersinc.com
85 Flagship Dr., No. Andover, MA 01845 978-683-7434 www.kingpaintinginc.com
[email protected] 617-628-8888 www.weatherproofing.net
www.kinlingrovercommercial.com
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December 22 - December 28, 2017 11C
Massachusetts
Established Supporting Advertisers Fafard Real Estate 1250 Hancock St., Quincy MA 02169 617-773-8150 www.wesslingarchitects.com
One Campanelli Dr., Braintree, MA 02184 781-849-1440 www.Campanelli.com
120 Quarry Dr., Milford, MA 01757 508-881-1600 www.fafardrealestate.com
10 Everberg Rd., Woburn, MA 01801 781-932-0707 www.danddnet.com
Bryan J. Kelly Manager
CELL: 508-958-2196
[email protected]
One Cranberry Hill, Lexington, MA 02421 781- 862-6168 www.stubblebinecompany.com
2 Sterling Road, Unit 1
285 Circuit Street
North Billerica, MA 01862
Hanover, MA 02339
978-436-9990
781-982-5684
www.tectaamerica.com
CALL US TODAY 1-800-SWEEPING or 781-395-1200 OUTSIDE OF NEW ENGLAND www.powersweeping.com
125 Samuel Barnet Boulevard New Bedford, MA 02745 800-544-0961 www.poyantsigns.com
888-KELLY-11
Commercial & Estate
www.kellyspropertyservices.com
PAINTING DIVISION
Our goal is to make YOU our next reference!
P.O. Box 102, Southborough, MA 01772
Fully licensed and insured in New England H.C. # 108212
Improvement Company 39 Industrial Parkway Woburn, MA 01801
uspavement.com
1-800-PAVEMENT
www.masshousingrental.com
208 Wareham Road, Marion, MA 02738 508-748-6545 www.southcoastimprovement.com
Serving All Of New England
401-434-3329
[email protected]
978-560-0575 www.kspartnersllc.com
Connecticut Arnold Peck’s Commercial World 800-301-3077 www.blcompanies.com
265 Church St., New Haven, CT 06510 203-672-3300 www.marcusmillichap.com
680 Boston Post Rd., Milford, CT 06460 203-877-1345, Toll Free: 877-884-1927 www.arnoldpeckscommercialworld.com
Connecticut Chapter 203-234-6371 www.ccimct.com
Opportunities
ine urn
12C December 22 - December 28, 2017
ham
ad Avenue 9.6930
ebunk
t. Suite 1 7.4600
ford
in Street 0.2900
lls
st Road 6.5131
dham
erg Trail 2.8100
Greenfield • $1,200,000 Indoor Action Sports has been in opertation MLS #71276605 Mark Abramson • 413-774-1220
W shire ford
Connecticut
Established Supporting Advertisers
Fitzwilliam • $775,000 General Industrial zone. 3 phase. Used as saw mill with wood fired kilns. MLS #4004864 George Foskett • 603-283-1944
Portsmouth • $695,000 Prime corner lot at light with Convenience Store and 3 bedroom apartment. MLS #4089594 Patti Visconte • 603-601-1119
rk
dston Road 4.1200
Visit the paper online nerej.com
Greenfield • $850,000 Building can be used as a production facility or converted to office building. MLS #71160594 Mark Abramson • 413-774-1220
Lewiston • $950,000 95,000 S.F. Industrial Building offers a variety of floor. MLS #1028566 team fletcher • 207-795-9623
Keene • $1,200,000 38,332 SF lot. Perfect for single user or as investment. MLS #4048256 George Foskett • 603-283-1944
k Street 3.4558
husetts nfield
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St, Bldg A 2.8311
Hampton • $499,900
North Hampton • $589,000 Price Reduced $100,000!! Prime retail or industrial on Rt. 1. MLS #4049352 Patti Visconte • 603-601-1119
Newmarket • $599,900 Remodeled 7 unit mixed use. 10% CAP!! Price just reduced $100K! MLS #4046079 Patti Visconte • 603-601-1119
Manchester • $675,000 Well Maintained 11 unit in a desirable Derryfield Park area. MLS #4070650 Jon Matta • 603-625-2800 x320
ChoziCk realty, inC.
Levey Miller Maretz Commercial Realtors
Stratham • $335,000
York • $499,900
In Home Business Opportunity! High Opportunity! 11% Cap! 25 individual rooms, fellowship hall, sound room, 114A Washington Ave. 7Investment visiblility on Rte 33. MLS #4077120 units - mixed use. MLS #4085286 kitchen, & 4 bathrooms. MLS #2749335 Christina DeYeso • 603-601-1113 Patti Visconte • 603-601-1119 Tamber Lewis • 207-337-3717 x230 North Haven, CT 06473 1768 Litchfield Turnpike 100 Wells St., Hartford, CT 06103 203-234-6371 Woodbridge, CT 06525 860-247-7400 www.theprotogroup.com 203-389-5377 www.LMMRE.com www.chozickrealty.com
www.masiello.com
New York Metro 212-904-1994 www.northmarq.com
River Road 5.2800
Cord
Street 8.0151
ver
tral Ave 9.4800
Boscawen • $324,900 Property has site plan approval for an automotive complex. MLS #4026240 Tracy Emerick • 603-601-1109
kittery • $250,000 Ideal for someone building a portfolio of small investment properties. MLS #4085156 Peter Gluckler • 207-363-4558 x226
York • $198,500 Commercial property with potential for 3 bdrm residence on site. MLS #1036786 Bill Dignan • 207-363-4558 x222
Windham • $2,558/ mo. The most sought after retail,restaurant or office space to lease In Windham!! MLS #4108170 Rick Hatton • 603-434-2374 x32
Pton
ette Road 6.4466
860-447-9570 www.pequotcommercial.com
ene
nd Street 2.5433
orouGh
e Street 4.8373
Epping • $1,850/ mo. First floor walk-in retail storefront! May be combined with abutting unit. MLS #4035627 Rick Hatton • 603-434-2374 x32
Keene • $1,500/ mo. Prestigious office space located within walking distance of downtown. MLS #4048386 Bill Hutwelker • 603-283-1956
Peterborough • $8/ sq ft A “One of a Kind” office building for lease or for sale in Peterborough,NH! MLS #2816653 Michelle Lange • 603-924-8373 x217
Peterborough • $7/ sq ft Climate controlled warehouse space for lease, built in 2004. MLS #2797377 michelle lange • 603-924-8373 x217
mouth
ess Street 0.9995
t Main St 6.3010
Rock Rd 4.2374
Hampton • $950/ mo. Office space with easy access to I-95 and Rte 101. MLS #4004545 Tracy Emerick • 603-601-1109
877-923-9850 www.CBCWorldwide.com
Keene • $18/ sq ft 1st Floor office or retail. New building. Pick your own finish. 545 SF. MLS #4021696 George Foskett • 603-283-1944
Northern New England
ton
dham
800-800-5261 www.transystems.com
hampton • $7/ sq ft 10,000 SF Industrial/Warehouse w/loading dock & drive-in. Hampton. MLS #4095663 Patti visconte • 603-601-1119
Peterborough • $6/ sq ft 6,343+/- total combined warehouse and office SF available for occupancy. MLS #4052300 Michelle Lange • 603-924-8373 x217
a complete line of commercial Brokering ServiceS
SMC
• buyer tenant representation • business sales/valuations • hospitality sales/valuations commercial development • full corporate services seller landlord representation
investment/value analysis
real estate consulting services
4 Park St., Concord, NH 03301 877-500-4994 www.masiello.com
One Sundial Ave. Manchester, NH 03103 603-626-1144
25 Orchard View Drive Londonderry NH 03053 603 434-6700 www.themegcompanies.com
P.O. Box 4430, Manchester, NH 03108 603.623.8811 proconinc.com
KW Commercial, NH Tel: 603-836-2740 www.kwcommercialNH.com
Rhode Island NRT 3275 Post Rd., Warwick, RI 02886 401-738-2000 MoveToWarwickRI.com
Call one of our commercial real estate professionals at 401-333-0010 Ext. 500 www.cbcnrt.com
1170 Pontiac Ave., Cranston, RI 401-781-1700
www.GreaterRI.com
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Auctions
December 22 - December 28, 2017 13C
New England Auctioneers Specializing in Commercial/Industrial Real Estate Corporate Office “Established in 1932’’ Branch Office P.O. BOX 247 31 Capital Drive Malvern (Philadelphia), PA 19355 West Springfield, MA 01089 (610) 853-6655 • Fax 853-6633 (413) 733-5238 • Fax 731-5946 PA Auc. Lic. # AY-000241-L MA Auc. Lic. #161
• INDUSTRIAL PLANTS • MACHINERY • • CONSTRUCTION EQUIPMENT • • COMMERCIAL, INDUSTRIAL & RESIDENTIAL REAL ESTATE • TOLL FREE 1-877-POSNIK-1 (767-6451)
visit our website at www.posnik.com • Email us at
[email protected]
High Performance Auctions www.amgss.com 800.209.3900
Dale W. Schaetzke, CAI, AARE, CES, GRI
Auctioneer/Broker/Realtor®
The man with the “Golden Gavel”® P.O. Box 2114 • New Castle, NH 03854
373 BOYLSTON ST., NEWTON, MA 02459
617-731-4455 www.paineauctioneers.com MA Lic. #120 • NH Lic. #2779 • RI Lic. #0546
Real Estate Auctions and Brokerage throughout the Northeast Paul McInnis -
[email protected] Justin Conway -
[email protected] www.paulmcinnis.com (603) 964-1301
(800) 522-8488 • (603) 436-6711 fax
• NH Lic. #2736 • MA Lic. #1541 • ME Lic. #AUC957 RI Lic. #7774 - VT Lic., #057-0002209 FL. Lic. #AU 2301 www.auctionsnewengland.com
[email protected]
750 Boston Neck Road • Narragansett, RI 02882 Phone: 401.792.4300 Fax: 401.792.4337 Auctioneer: Michael Salvadore Jr. RI Lic. #1907 MA Lic. #380 NH Lic. #5052
#!! $ % "& ""'%&$ %&&
Auctions • Appraisals Liquidations
45 Exeter Road, P.O. Box 400 #!! $ &$ &' & Epping, NH 03042 " %& $
email us at:
[email protected]
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COMMERCIAL & RESIDENTIAL R EAL E STATE AUCTIONS Over 16,000 Successful Real Estate Auctions Since 1976
·RECOGNIZED LEADER ·REGIONAL EXPERTS
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WE’RE SERIOUS ABOUT SERVICE!
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“PESCO” has been New England’s preeminent auction and appraisal firm throughout our 50 years in business, since opening in 1963. We are committed to delivering the highest quality real estate and equipment auctions as well as appraisal services to our clients for SUPERIOR results. 144 Centre Street, Holbrook, MA 02343 • Tel: 617-227-6553 Visit our website at www.pesco.com MA Lic 295, N.H 2508, R.I 4035, VT 057-0002204
TRANZON AUCTION PROPERTIES SERVING CLIENTS IN NEW ENGLAND, NEW JERSEY & UPSTATE NEW YORK WITH OFFICES IN: PORTLAND, MAINE, WAKEFIELD, MASSACHUSETTS WESTPORT, CONNECTICUT, KENMORE, NEW YORK SOMERSET, NEW JERSEY
TRANZON AUCTION PROPERTIES SERVING CLIENTS IN NEW ENGLAND, NEW JERSEY & UPSTATE NEW YORK WITH OFFICES IN: PORTLAND, MAINE WAKEFIELD, MASSACHUSETTS WESTPORT, CONNECTICUT There are Two Ways to Sell Real Property – On the Market for Months or Off the MarketNEW in Minutes. Take Action! KENMORE, YORK HaveSOMERSET, an Auction. TheNEW AuctionJERSEY Advantage!
OVER 25 YEARS OF FOCUS & EXPERIENCE CHECK OUT OUR NEW MOBILE-READY WEBSITE!
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auctionzip.com – ID #5964
Southcoast Auctions & Realty, Inc. - George A. Collias A Reputation for Results – for over 30 years
(508) 679-7919
14C December 22 - December 28, 2017
New England Real Estate Journal
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Auctions MA Lic #107
Mortgagee’s Sale of Real Estate at PUBLIC
AUCTION
MATTAPAN
13,400± SF RETAIL/OFFICE BUILDING CLASS B – 3 STORY
1613-1615 Blue Hill Avenue Friday, January 5 at 12:00 PM
6,975± SF lot having a 3-story 13,400± SF building 1st FL: Retail • 2nd & 3rd FL: Offices ranging from 500-6,957± SF Building features elevator & individual restrooms for offices Mort. Ref.: Suffolk Cty Bk 42285, Pg 156; as assigned & recorded on 9/19/08 in Bk 44047, Pg 66; on 12/29/11 in Bk 48873, Pg 139; on 2/23/15 in Bk 54083, Pg 260; and on 11/9/17 in Bk 58794, Pg 245. Terms: $25,000 deposit by bank check; a second deposit in the amount of 10% of purchase price due within 7 calendar days of auction & balance due in 30 days. Dustyn M. Mascia, Esq., McCarter & English LLP, 265 Franklin St, Boston, MA, Attorney for Mortgagee. Accuracy of information is not guaranteed. Visit web or call for more information.
Sullivan-Auctioneers.com • 617-350-7700
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New England Real Estate Journal
December 22 - December 28, 2017 15C
2018 SUMMIT
Cannabis... the next phase in commercial real estate Agenda 8:00am-9:00am
February 8, 2018
Networking and Breakfast
Sheraton Needham Hotel, 100 Cabot Street, Needham, MA
9:00am-10:00am
Corporate Sponsors
Real Estate investments in Cannabis Industry Solar and Energy Storage as Potential Solutions Retail & Medical Dispensary
10:00am-11:00am
New Adult use Cannabis License Time line Zoning, Permitting & Insurance Issues City or Towns Approval and Limitations
11:00-12:00noon
Networking with speakers and attendees
Register today!
Early Bird Rate $89 ends Jan. 29 Regular Rate $129 after Jan. 29 Contact Rick Kaplan 800-654-4993, ext. 247,
[email protected] Register at www.next-phase-cre.eventbrite.com
Sponsorship and Speaking Opportunities Available.
16C December 22 - December 28, 2017
New England Real Estate Journal
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Inside Back Cover
AVAILABLE For Sale or Lease
Southern NH Building for Sale 23,000 +/- sf
This building is solidly constructed for those with heavy security needs (Gun Sales/Range, Date Center, Precious Metals, Auction house, military/gov’t type uses). Other uses include medical device mfr., hi-tech manufacturing, and light industrial. Easy access to Interstate 93 and Manchester-Boston Reg. Airport. Serviced by municipal water and sewer and natural gas, this building offers 1,600 AMPS of power. New roof in 2011. There are power drops through-out. It offers dock high loading and plenty of level, paved, onsite parking. The building is over-conditioned with ten (10) RTU’s providing air, heat and air exchange capability, as well as humidity control with ability to generate steam. All units are in good working order. There is a new Rinnai instant-on hot water system. There are 9 bathrooms, 3 with showers. There is vibration resistant flooring in some areas (16” and 12”). There are 14 +/- floor drains all tied into the municipal sewer. We have a clean environmental report dated 2016; there is 1/3 ac of undeveloped area for outside storage or future expansion. Only $1,275,000, Call Ralph
Retail for Lease
Join Tractor Supply and Dollar Store at the bustling Merrimack Commons Plaza. Access is via a traffic light shared with DD. Sizes start at 1,750 sf
1,200 sf Retail with display cases, slat walls, window line on 30,000 cars per day. Great for gun shop, mobile phone sales, pawn shop and more. Large sign, plenty of parking $1,495/mo.
1,000 sf unit available at a Wal-Mart Shadow strip center which shares a light with Applebee’s. On busy Route 28 in Derry with Plenty of parking. 1,000 sf office/showroom with private bath, own HVAC. Window line and signage exposed to almost 30,000 cars/day. Easy Hwy. access. $845/mo. Hard to find small office suites, units starting at $350/month with heat, air and electric included.
Building for Sale Downtown Lowell WITH on-site parking Why rent when you can own this 3,000 sf solid, brick building in downtown Lowell with NINE (9) on-site paved parking spaces and a full basement. Serviced by Mun. water/sewer, natural gas and with central heat/air, it offers an expansive window line directly across from the newly renovated Rialto Theatre (opens 16/20 mos.) The 9’ interior ceilings create a nice ambiance for a restaurant-bar for those theater goers. $399,000, Ask for RALPH. LAND FOR SALE 2.77 acre commercial lot on a corner, on busy Route 28 in Windham NH. Great for restaurant, retail, office and more. Survey available. Only $169,900 ask for RALPH.
FOR SALE 46 Acres Industrial ONLY $995,000
603.434.9700 Tel: 781-878-4540
Back Cover
New England Real Estate Journal
December 22-28, 2017
nerej.com
NH Re-Development Sites Sites NH I-93 I-93 Corridor Corridor Re-Development Concord, For Sale—$2,000,000 Sale—$2,000,000 Concord, NH NH For Between Exits 12 & 13 on I-93
Exit 12, I-93 Exit Exit 12, 12, I-93 I-93
State House StateHouse House State Mile -----> Mile-----> -----> 111Mile
I-93
Exit 13, I-93 Exit13, 13,I-93 I-93 Exit
20± Opportunity Corridor Corridor Performance Performance 20± Performance 20± Buildable Buildable Acres Acres Zoned Zoned Opportunity Potential Uses include: Multi-Family, Medical Office, Potential Office, Mixed Mixed Use, Urban Infill, CCRC, Flex-Tech, Indoor Recreation…. Use, Recreation…. Utilities at the Site are Municipal Water and Sewer, Utilities Sewer, Natural Natural Gas and Electric, with Access Exit 12 & 13 off I-93, Gas I-93, Subdividable Subdividable
FOR SALE TILTON, NH $2,000,000 ½ Mile Mile East East of of ½ Exit 20 20 off off I-93 I-93 Exit
DEVELOPMENT OPPORTUNITY DEVELOPMENT OPPORTUNITY
100± Buildable Buildable Acres Acres on on 3 100± 3 Lots Lots Totaling Totaling 120 120 Acres± Acres± Senior Living, Living, Mixed Mixed Use, Senior Use, Commercial Commercial
Call Bill Bill Norton Norton 603-625-9628 Call 603-625-9628 xx 11
