Monthly Spotlight Calendar January 2018 2018 Forecast
February 2018 Industrial Development Resource Guide
March 2018 Spring Preview
April 2018 Commercial Real Estate Semi-Annual Guide
A supplement of the New England Real Estate Journal
2018
Forecast Jan. 27-Feb. 2, 2017 Section C
2018 SPRING/SUMMER
2018 New England Industrial Development Resource Guide
Spring Preview
Featuring an in depth directory of CCIM members along with an updated compilation of industrial parks, sites and buildings in New England.
New England Commercial Real Estate Semi-Annual Guide Brendan Greene
Greater Boston Exchange Co.
Keith Wentzel
Fantini & Gorga
Saul Feldman
Feldman Law Office
Jeffrey Dugas
Wellspeak, Dugas & Kane
Webster Collins
CBRE|New England
Earle Wason Wason Assoc. Hospitality RE Brokerage
Webster Collins
CBRE|New England
Martin Reisner
Auburn Ind. Dev. Corp.
Michael Chase
NorthMarq Capital
Spencer Macalaster
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Simon Cos.
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National Restaurant Exchange
May 2018
June 2018
July 2018
August 2018
Industry Leaders
Management
Mid-Year Review
Industrial Sites
Mid-Year Review
Jan. 27-Feb. 2, 2017 Section C
Industry Leaders
Industrial Sites Spotlight Project of the Month-The Woodlands 234-unit apartment community in Middleborough, Pages 10 & 11
Brendan Greene
Greater Boston Exchange Co.
Keith Wentzel
Fantini & Gorga
Nate Stevens
CBRE|The Boulos Co.
Saul Feldman
Feldman Law Office
Jeffrey Dugas
Wellspeak, Dugas & Kane
Chris Mellen
Simon Cos.
Webster Collins
CBRE|New England
Earle Wason Wason Assoc. Hospitality RE Brokerage
Kent White
CBRE|Portsmouth
Webster Collins
CBRE|New England
Martin Reisner
Auburn Ind. Dev. Corp.
Mike Giuttari
MG Commercial Real Estate
Brendan Greene
Michael Chase
Greater Boston Exchange Co.
NorthMarq Capital
Keith Wentzel
Spencer Macalaster
Fantini & Gorga
Risk Strategies Co.
Nate Stevens
Dennis Serpone
CBRE|The Boulos Co.
National Restaurant Exchange
Saul Feldman
Feldman Law Office
Jeffrey Dugas
Wellspeak, Dugas & Kane
Chris Mellen
Simon Cos.
Webster Collins
Webster Collins
CBRE|New England
CBRE|New England
Earle Wason
Martin Reisner
Wason Assoc. Hospitality RE Brokerage
Kent White
CBRE|Portsmouth
Auburn Ind. Dev. Corp.
Mike Giuttari
MG Commercial Real Estate
Michael Chase
NorthMarq Capital
Spencer Macalaster
Risk Strategies Co.
Dennis Serpone
National Restaurant Exchange
September 2018
October 2018
November 2018
December 2018
Route 128 & I-495
Fall Preview
Commercial Real Estate Semi-Annual Guide
Annual Review
2017 FALL | 2018 WINTER
Fall Preview Spotlight
2017 Annual Review
New England Commercial Real Estate Semi-Annual Guide
Route 128 & 495 Spotlight
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USA $3.95 October 12-18, 2018
RI COVER B
Rubius Therapeutics breaks ground on $155 million facility Vernco Apple, LLC purchases 194,214 s/f center for $6 million
FD COVER PAGE 9A
NE COVER A
Colliers International arranges $79.88 million financing for Hilco Real Estate nerej.com
Sign up for Daily RE Cap! Visit nerej.com/newsletter Volume 57 • Issue 41
This Week’s Sections Front Section Financial Digest Rhode Island Billboard
In memory of Melanie Delman, president of Lila Delman Real Estate December 6 Summit
November 12 Summit
Columnist
Stanley Hurwitz NE PAGE 20A
RI LOWER COVER B
Cities of Pawtucket and Central Falls NE PAGE 24A
Inside Front Cover
October 12-18, 2018
New England Real Estate Journal
nerej.com
October 12 - 18, 2018 Volume 57 • Issue 41
Quick Read Horvath & Tremblay sells two retail properties for $9.4 million MCLAUGHLIN INVESTMENTS REPS BUYER; CUSHMAN & WAKEFIELD REPS SELLER
Vernco Apple, LLC purchases 194,214 s/f center for $6 million
SEE PAGE 8A
Colliers International arranges $79.88m financing for Hilco Real Estate
SEE COVER OF FD - PAGE 9A
Rubius Therapeutics breaks ground on $155 million facility
George Vernet, manager of Vernco Apple, LLC, purchased 4 Orchard View Dr., which LONDONDERRY, NH
George Vernet
Tome Farrelly
Denis Dancoes
is a 194,214 s/f retail shopping center, for $6 million from JPMCC 2011-C5 Appletree Mall, LLC. The management agent will be Vernet
Properties, Inc. The property is located on Rte. 102, one mile from exit 4 on I-93. The 20 acre parcel has parking to accommodate the 32,000 cars a day that travel on Rte. 102. The building is anchored by Shaw’s Supermarket and currently has units available ranging from 1,800 s/f to 41,360 s/f.
IBEW Local 103 named fastest-growing affiliate BOSTON, MA The International Broth-
SEE COVER OF RI/SEC. B
3 Sections 64 Pages Editorial Page........................... 4A S. Hurwitz.................................. 4A Financial Digest................. 9-19A REFA News.............................18A Referral Network..................21A SIOR..........................................23A Rhode Island.................... SEC. B Billboard.............................SEC. C nerej.com
erhood of Electrical Workers’(IBEW) recognized Boston’s Local 103 as its fastest-growing affiliate at the union’s annual Membership Development Conference in Chicago. IBEW leaders lauded Local 103’s IBEW business manager, Lou Antonellis, for spearheading new organizing efforts and marketing initiatives. “What we’ve found is that good union jobs, with secure benefits and family-sustaining wages, remain a very attractive opportunity,” Antonellis said. “We just have to get the word out in new and different ways.” Local 103’s membership grew by 12% this year, due in large part to increased worksite outreach to nonunion workers and expanding its use of digital communications to recruit new members and apprentices, including a social media campaign and electric billboards across the city. IBEW national leaders also noted Local 103’s success in diversifying its ranks.
Vernco Apple intends to invest $2-3 million in the next two years, including a new façade, asphalt, new roof, public sewer connection, unit
upgrades, etc. The selling broker was Cushman & Wakefield with Tom Farrelly and Denis Dancoes as their agents.
Buyers broker was John McLaughlin of McLaughlin Investments, Inc. East Boston Savings Bank provided the financing.
CONNOLLY BROTHERS IS SERVING AS GENERAL CONTRACTOR
Harmonic Drive to build 100,000 s/f HQ at Cummings’ Dunham Ridge BEVERLY, MA Dunham Ridge, one of
the North Shore’s newest business campus, is preparing for a homecoming. Harmonic Drive LLC, which launched in town 60 years ago before moving to Peabody, has purchased five acres at the technology center owned by Cummings Properties for $6.087 million. Site work has already begun for a fully permitted 100,000 s/f high-tech manufacturing facility. “Harmonic Drive had been looking for a new location for our US headquarters and manufacturing facility for quite some time,” said Harmonic CEO Olson. “Since our employees are key to the strength and growth of our business, we wanted to stay very close to the North Shore, where many of our employees live.” Harmonic Drive has outgrown the two buildings it currently occupies in Peabody. The move to Dunham Ridge will allow it to consolidate its functions into one building and expand its footprint to accommodate growth. The firm plans to add 60 fulltime employees to its current staff of 142 within the next couple of years. “Given Harmonic Drive’s impressive growth, its record of success
Rendering of Harmonic Drive’s new building - Beverly, MA and innovation, and its historical ties to Beverly, we could not be more pleased to welcome this firm back home,” said Steve Drohosky, vice president of Cummings Properties, who worked directly with Olson on the sale. Harmonic Drive is aiming to have the building’s shell weathertight by the end of this year so construction crews can work on the interior buildout during the winter. Connolly Brothers is serving as general contractor for the project, which is slated for completion in summer 2019.
“From the beginning, Steve and his team from Cummings really listened to our needs and understood our requirements as a manufacturing business. They worked with us to find the right land where we could build a world-class facility,” said Olson. “We were ecstatic when they recommend Dunham Ridge in Beverly, since we were founded there over 50 years ago. We are very much looking forward to coming back home to Beverly and strengthening our ties with the community.” For full story visit nerej.com
Inside Cover A October 12 - 18, 2018
New England Real Estate Journal
nerej.com
2 Corporation Way CP Centennial Park | Peabody, Massachusetts
Common Area Renovations Represent a Significant Upgrade to Two Corporation Way!
First-Class Office or R&D
Available SF Suites From 3,581 - 29,809 SF | 1st Floor Suites From 4,727 - 21,725 SF | 2nd Floor Building Contiguous: 51,526 SF
Description • Significant renovations made to the lobby and restrooms • 3.5 parking spaces per 1,000 SF • 2-story skylit atrium lobby • Attractive indoor landscaping • Excellent panoramic window line
Location Strategically located at the junction of Route 128 and I-95 and only 17 miles to Boston and Logan International Airport, Centennial Park’s campus-
like setting offers 2 on-site hotels and an on-site restaurant. The area boasts a variety of shopping, dining, and recreational amenities and is home to a myriad of additional service and health-care providers. Nearby are dozens of fine restaurants, health clubs, golf courses, and the Northshore Mall - featuring 130 high-quality retailers.
Contact Greg Regazzini, VP, Director of Leasing
[email protected] ph: 781.321.7800, ext. 318 www.combinedproperties.com
Corporate Neighbors North Shore Physicians Group | Children’s Hospital, Peabody | Carl Zeiss SMT | Converge | Analogic | HTS Engineering | Weston & Sampson | The Musculoskeletal Center | Cardinal Health | Gravoc | Amergent | International Light Technologies | BMW Peabody Service Center | The Peabody Marriott | TÜV SÜV America
Creating Better Places to Live & Work. ®
Please visit www.PeabodyWorks.com to learn more about 2 Corporation Way and Centennial Park, Peabody, Massachusetts.
Combined Properties, Inc. | 295 Canal St., Suite 500 | Malden, MA 02148 | 781.321.7800 | www.combinedproperties.com
New England Real Estate Journal
nerej.com
October 12 - 18, 2018 1A
COLLABORATIVE CULTURE RELATIONSHIP FOCUSED DEFINED EXPERTISE
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CVS New Bedford, MA $7,900,000
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Wendy’s Niagara Falls, NY $2,047,320
ED
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CVS Hudson, NH $8,250,000
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Honey Dew Donuts North Providence, RI $860,000
Transactions
1,000+ in 36 States
Zaxby’s Port St. Lucie, FL $2,450,000
Pilgrim Hill Marketplace Plymouth, MA $7,950,000
ED
S LO
T LIS
Downtown Mall Meadville, PA $7,564,743
ED
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Citizens Bank Franklin, NH $570,000
Irving Oil Attleboro, MA $2,200,000
Closed
Ranked
in Recent Transactions
Industry Leading Firm
$4,000,000,000
#1
Ethan Cole, NH Broker of Record, License 064406, NY Broker of Record, License 10491208561, PA Broker of Record, License RMR003168, RI Broker of Record, License REB0018287
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
2A October 12 - 18, 2018
nerej.com
KinlinGroverCommercial.com
Cotuit
$6,400,000
Orleans
Wareham
$1,250,000
East Wareham
$759,000
Yarmouth Port
$587,000
Brewster
$499,000
$410,000
Orleans
$399,000
On Cotuit Bay, 11.78 acres with magnificent views & private beach frontage. Subdividable. John Callahan 508.737.1322
6,800 sq ft restaurant building, almost turnkey, 206 seats, 1.1 acres at stoplight. or for lease. Ben Edgar 508.776.2635
$2,500,000
Restaurant available business & RE: 250 seats, ample parking, in-town, creative financing. Nat Santoro 508.240.0334
Commercial office building with 10 units, 38 parking spaces, and water views. Doug Azarian 508.360.4600
Falmouth
2500 sq ft Auto Business. Equipment included, spray booth, frame machine, 2 post lift, mig welder. Sandy Clarke 413.531.4458
Orleans
$449,000
Orleans
$449,000
Harwich
South Dennis
$189,000
Eastham
$900/NN
Osterville
Retail/Office condo 2244 sqft/busy complex. Owner may help finance/incl Lease/Purchase. 508.240.0334 Nat Santoro
Office Condo 2490 sqft: 6 offices, conf rm, more.Central locale, possible lease/purchase. Nat Santoro 508.240.0334
Business/Real Estate/58 seat pizza restaurant w/ own bldg/central location - Call. Nat Santoro 508.240.0334
For Lease: High visibility 770+ sft corner office/ retail display windows, bsmnt storage. Nat Santoro 508.240.0334
$2,000,000
3 Bay quick-lube shop on .3 arce lot Main Street Falmouth. Jim Fox 617.529.8616
Medical office, 5 exam rooms, ADA compliant, CH-1 Zoning. Call for details. Nat Santoro 508.240.0334
$22 sf NNN
Class A 1,250 sf 2nd floor office in heart of Osterville. Elevator & many amenities. John Callahan 508.737.1322
Upper Cape
$1,300,000
Marina & Restaurant - Confidential Sale, qualified buyers please contact Ben Edgar. Ben Edgar 508.776.2635
Bldg w/3 professional offices/ 2warehse bays/ ample parking. Seller may help w/financing. Nat Santoro 508.240.0334
5 rooms office/retail w/views/in-town visibility/ Owner may help finance or lease/purchase. 508.240.0334 Nat Santoro
Osterville
$18.50 sq ft+
1,187 sf retail @ $18.50 sf + utilities. Under construction. Design your floor plan. John Callahan 508.737.1322
A Consultative Approach to Commercial Real Estate and Businesses
New England Real Estate Journal
nerej.com
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October 12 - 18, 2018 3A
4A October 12 - 18, 2018
New England Real Estate Journal
nerej.com
Stanley Hurwitz
Public Relations
Paying it forward: Personal public relations A few months ago, a friend told me about an experiment. He asked his bank teller for a supply of Kennedy half dollars. You probably haven’t used one lately: They’re heavy, jingle so loud they announce your arrival, and can wear a hole in your pocket. This big coin has a diameter of 30.6 mm, about one inch. My friend told me he always carries a few 50-cent pieces ready to give to anyone he observes doing a nice deed: A kid who holds the door open, someone who picks up your dropped keys.This “paying it forward” concept dates back to a play in ancient Athens: When someone does something for you, instead of paying that person back directly, you pass it on to another person instead. One example: buying coffee for the person in line behind you; then they buy coffee for the person behind them and so on. The coins with JFK on the front and an eagle on the reverse were first minted in 1964, a year after president Kennedy’s assassination. Billions have been produced. There are so many, most carry no premium value. At first they were 90% silver, 10% copper. Since 1971, they’re 75% copper, 25% nickel. Worth: 50 cents. On a recent vacation in Las Vegas, I took several half dollars. (Very loud when I emptied them into the TSA tray!) I learned that coming across someone who shows special kindness is harder than you think. As my brave wife left for a helicopter tour of the Grand Canyon and boat ride on the Colorado River, she left two postcards to mail. I learned stamps could only be bought at the FedEx store (1/4 mile from the front desk). The store’s posted Sunday hours were 9 a.m. - 4 p.m. It was still dark at 9:30. The adjacent gift shop manager divulged FedEx rarely opened before 10. As I waved the postcards, explaining my dilemma, another guest stopped, smiled and handed me two stamps. I offered to pay. She said, “No, just pay it forward.” I promptly handed her a special half dollar. She waved me off. I replied, “It’s not for the stamps, it’s for your nice gesture. Give CONTINUED ON PAGE 22
Patty Colman, x251 Publishing Director
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John Picard, x250 President
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Roland Hopkins Founder
Phone: 781-878-4540 | Toll Free: (Outside Mass.) 1-800-654-4993
Section Publishers Billboard, Auctions, & Classified................ Karen Dowell, x254,
[email protected] Connecticut ............................................................John Picard x250,
[email protected] Construction, Design & Engineering..............John Picard, x250,
[email protected] Financial Digest..........................................................Jeff Keller, x244,
[email protected] Massachusetts ...................... Patty Stone-Colman, x251,
[email protected] Northern New England ........ Patty Stone-Colman, x251,
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Section Schedules Week 1
Northern New England Owners, Developers & Managers
Week 2
Rhode Island Financial Digest
Week 3
Construction, Design & Engineering Connecticut
Week 4 Retail Spotlight
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New England Real Estate Journal
Published weekly for $139 per year by East Coast Publications 17 Accord Park Drive, Unit 207, Norwell, MA 02061 Printed by: Graphic Developments, Inc. 80 Mayflower Dr., Hanover, MA 02339 | www.graphicdevelopments.com 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. 57, No. 41 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: 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
Diversified Funding, Incorporated
63 Atlantic Avenue, Boston, Massachusetts 02110 Tel. (617) 227-0893 / Fax (617) 227-2995
Proof NE/NY REal EstatE JouRNals
New England Real Estate Journal
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October 12 - 18, 2018 5A
Doug Smith PRESIDENT MILLER & SMITH
U N D E R S T A N D I N G W H A T ’S I M P O R T A N T :
Constructing the right plan. Since 1964, Miller & Smith has built more than 18,000 homes. President Doug Smith is proud that his business doesn’t resort to cookie-cutter designs for customers, and he’s found a similar approach at M&T Bank. For over 20 years, we’ve continually provided the deep resources of a big bank, along with the personal service of a community bank to help Miller & Smith plan for the ups and downs of their industry cycles. To learn how M&T can help your business, call Tim Wade at 617-457-2022 or visit mtb.com/commercial.
DEPOSITORY AND LENDING SOLUTIONS | TREASURY MANAGEMENT | MERCHANT SERVICES | COMMERCIAL CARD
Equal Housing Lender. ©2018 M&T Bank. Member FDIC.
New England Real Estate Journal
6A October 12 - 18, 2018
nerej.com
SOLD BY MILLWOOD FARMS GOLF COURSE TO MILLWOOD RES.
Hughes of New Dover Associates brokers $5.5 million sale of 68.9 acres Scott Hughes, president of New Dover Associates, Inc. represented the seller, Millwood Farms Golf Course, Inc., and procured the buyer, Millwood Residential LLC, in the sale of 68.9 acres at 175 Millwood St. The land Scott Hughes sold for $5.5 million. 175 Millwood St. is located near Rtes. 9, 30, 126 and I-90 (Mass. Pike) and across the street from the Callahan State Park. According to public record, the town planning board approved the developers to construct 61 residential buildings, consisting of 129 units, that will be for over 55 housing. FRAMINGHAM, MA
Glenn Hardman, President
[email protected]
One Chalet Drive P.O. Box 598 Wilton, NH 03086
603 654 2666 603 654 2664 fax 603 540 9837 mobile
www.hospitalitysolutionsllc.com a Roedel Companies Company
175 Millwood Street - Framingham, MA
//
Commercial
MIKE BELINSKI 508-881-1600 X326
[email protected] CYNTHIA CARTIER | 508-881-1600 X307 |
[email protected] LARRY DOANE 508-881-1600 X321
[email protected] LARRY DOANE | 508-881-1600 X321 |
[email protected]
Brown joins BOND as vice president BOSTON, MA BOND has hired Bruce
Brown as vice president, Southern New England, civil & utility. Brown will oversee the operations of BOND’s C&U Division in Connecticut, Western Mass. and affiliated regions. He will focus on strengthening BOND’s services in oil & gas, electric transmission & distribution, power generation and civil infrastructure markets. Brown will draw from over 34 years’ construction and business management experience to drive sales and build client relationships throughout the region. With a focus on safety and quality, Brown is strongly suited for the position with a diverse energy project portfolio. His experience includes gas & electric plants, transmission lines, LNG/CNG delivery, utility plants, renewable energy farms and various industrial projects. He has worked with Eversource, Exelon, Avangrid, Piedmont Gas, UGI Energy Services, Holyoke Gas & Electric, Dominion and TransCanada.
Score joins Consigli Construction as director of historic preservation According to Consigli Construction Co., Inc., Robert Score has joined the firm as its new director of historic preservation. Score joins Consigli with 25 years of experience, most predominantly as an architect and project manager specializing in historic preservation. In his new role, Score will partner with project teams throughout our markets in establishing quality control measures and developing creative solutions for unique preservation challenges. Score has experience with developing approaches and techniques for restoring historic properties. BOSTON, MA
nerej.com
New England Real Estate Journal
October 12 - 18, 2018 7A
R.L. GOLDMAN CO. INC. Paving • Seal Coating Crack Sealing Asphalt Repairs Line Striping Concrete Work Pulverization/Milling Parking Lot Reconstruction Tennis Court • Recreation Surfaces
Asphalt Contractors
508-898-9293
fax: 508-366-6266 • web: www.rlgoldman.com 30 Lyman Street, Westboro, MA 01581
New England Real Estate Journal
8A October 12 - 18, 2018
nerej.com
INCLUDING THE PILGRIM HILL MARKETPLACE IN PLYMOUTH, MA
Horvath & Tremblay sells two retail properties for $9.4 million
FOR LEASE
80 1st Ave., Chicopee, MA
Horvath & Tremblay has completed the sale of two northeast retail properties totaling PLYMOUTH, MA
.
st
01
e Av
8
Bob Horvath Final Mile 21 door cross-dock truck terminal logistically close to I-90 Exit 6 (MA Pike), I-291 and I-91. Fenced yard. 2 Bay garage approx 600 sf. Building currently under renovation.
Kathy Nekitopoulos
413-374-4628
Todd Tremblay
$9.435 million. The properties include, Pilgrim Hill Marketplace and a free-standing Taco Bell in Milford, Conn. Bob Horvath Matthew Nadler and Todd Tremblay represented the seller and
Pilgrim Hill Marketplace - Plymouth, MA procured the buyer of Pilgrim Hill Marketplace to close the transaction at a sale price of $7.95 million. Pilgrim Hill Marketplace is a 19,619 s/f retail center anchored by CVS. CVS and The Pizza Factory are original tenants and have been in occupancy for over 20 years. Both tenants executed five-year lease
Changes
New Proof
Size: 2x4 From: Patty
Proof Approved
Section: ROP
crop 2”
NY Tel: 781-878-4540 PROOF NE REAL ESTATE JOURNAL
Run Date: 9-28
GENERAL CONTRACTING AND CONSTRUCTION MANAGEMENT SINCE 1985 COMMERCIAL
INSTITUTIONAL
MEDICAL / HEALTHCARE
extensions, demonstrating their commitment to the location. This is a well-established store for CVS with consistently strong sales performance. The third tenant, Mutual Bank of Plymouth has been at the property for over ten years and also recently executed a five-year extension. Additional retailers in the area include Stop & Shop Supermarket, Shaw’s Supermarket, Walgreens, Staples, Sullivan Tire, Advance Auto Parts, Valvoline Instant Oil Change, Starbucks, Bank of America Financial Center, Dunkin Donuts, McDonald’s, Burger King, Comfort Inn and several car dealerships. Horvath, Tremblay and Matthew Nadler procured the buyer of a free-standing Taco Bell restaurant in Milford, closing at a sale price of $1.485 million, a 5.5% cap rate. Taco Bell has over 13 years remaining on the base term of the lease with four, 5-year renewal options. The lease calls for rare 2% annual rental escalations throughout the lease term. The property is located along Boston Post Rd., a main commercial retail corridor. Taco Bell is situated just northeast of Milford Crossing, a Walmart anchored shopping center and the Connecticut Post Mall.
Tighe & Bond named a 2018 Circle of Excellence member by PSMJ Tighe & Bond has been named a 2018 Circle of Excellence member by PSMJ Resources, Inc. (PSMJ) for the firm’s achievements in areas such as profitability, overhead management, cash flow, productivity, business development, and staff growth. Circle of Excellence members represent the top 20% of all participants in PSMJ’s annual A/E Financial Performance Benchmark Survey, which is based on 13 key business performance metrics. PSMJ selected Tighe & Bond based on data from 361 A/E firms across the United States and Canada. “It is a significant honor forTighe & Bond to be recognized as an industry leader in top-notch business practices and sustainable business results. Our goal has always been to run an extraordinary client and employee focused organization, as well as an exceptional and high performing business,” said Tighe & Bond’s vice president and CFO Robert Belitz, CPA. WESTFIELD, MA
RESIDENTIAL
CORPORATE INTERIORS
SEAVER CONSTRUCTION, INC. P: 781.935.0130 F: 781.935.0048
HOSPITALITY / MULTIFAMILY
215 LEXINGTON STREET, WOBURN, MA 01801 www.seaverconstruction.com
Financial Digest
October 12 - 18, 2018
Quick Read HFF completes $30 million in financing for Blanchard Woods
SEE PAGE 10A
EagleBridge Capital arranges $2.7 million mortgage financing
SEE PAGE 12A
Natalizio of Cornerstone Realty Capital arranges $9m for Micozzi
SEE PAGE 13A
New England Real Estate Journal nerej.com
FOR CENTERPOINT, A 443,000 S/F, TWO BUILDING CLASS A LAB, R&D AND OFFICE CAMPUS
Colliers Int’l. arranges $79.88m financing for Hilco Real Estate
Humatics recently signed long-term leases; and 48 Woerd Ave. – a class A, 121,000 s/f office/R&D facility, at which Hilco recently signed a long-term extension with Olympus. Coppola said, “Building upon the prior owner’s successful conversion of a former manufacturing facility into a multi-tenanted class A property, Hilco plans a targeted capital improvement program designed to enhance the marketability of the asset to a wide range of lab, R&D and office tenants through strategic aesthetic, infrastructure and amenity upgrades.”
Colliers International’s Capital Markets group has arranged $79.88 million in financing WALTHAM, MA
Adam Coppola
Thomas Welch
John Poole
Tonia Jenkins
for Hilco Real Estate to purchase and execute a value enhancement strategy for CenterPoint, a 443,000 s/f, two building class A lab, R&D and office campus located at 41 Seyon St. and 43 Foundry Ave. The Colliers team of Adam Coppola, Thomas Welch, John Poole, and Tonia Jenkins secured the financing with a balance sheet lender. The flexible configuration and infrastructure allows for efficient lab, office and R&D use. Located in a suburban Boston submarket with close access to Boston, Cambridge and other talent centers, Hilco will benefit from tight vacancy and strong rent growth. The site has been transformed into a modern multi-tenant campus via capital investment throughout the past 10 years. The property is presently anchored by Repligen, Education Development Center (EDC) and Simpson Gumpertz & Heger. Welch said, “Waltham is well established as a core life sciences/ lab market, capturing tremendous overflow from Cambridge and the Longwood Medical Area, the global epicenter of the life sciences industry.” Hilco has a familiarity with the asset and submarket as a result of recently acquiring, redeveloping, and leasing two local assets: The Gauge – an adjacent class A, 135,000 s/f creative office/R&D property, at which Panasonic and
FOR THE ACQUISITION OF THE DAYS INN & SUITES, MYSTIC, CT
Groblewski and Feig of Fantini & Gorga arrange $4.672m financing MYSTIC, CT Fantini & Gorga arranged
a $4.672 million first mortgage loan for the acquisition of the real estate
Casimir Groblewski
Days Inn & Suites - Mystic, CT
Lindsay Feig
related to the Days Inn & Suites. Fantini & Gorga placed the financing on behalf of a long-standing client as part of a 1031 exchange. Casimir Groblewski, senior managing director, and Lindsay Feig, analyst, represented their client in the transaction. “We were pleased to assist the buyer with its specific requirements for the financing,” said Groblewski. “There was a tight timeframe within which all due diligence and the closing had to occur. The transaction was complex since the hospitality operating company was also revamping its management.The lender a major New England-based financial institution with an excellent track record, offered our client the creative structure that was needed.”
Independent Bank Corp. and Blue Hills Bancorp sign definitive merger agreement Independent Bank Corp., parent of Rockland Trust Company, and Blue Hills Bancorp, Inc., parent of Blue Hills Bank, have signed a definitive merger agreement for Independent to acquire Blue Hills Bancorp and Rockland Trust to acquire Blue Hills Bank. The merger agreement provides that each Blue Hills Bancorp stockholder will receive 0.2308 of a share of Independent common stock and $5.25 in cash for each share of Blue Hills Bancorp common stock. The transaction is intended to qualify as a tax-free reorganization for federal income tax purposes and to provide ROCKLAND, MA
a tax-free exchange for Blue Hills Bancorp stockholders for the Independent common stock portion of the consideration they receive. The agreement provides that, effective as of and contingent upon the merger, Independent will add three Blue Hills Bancorp directors to its board of directors. “Our transaction with Blue Hills Bank is a natural fit and is consistent with our strategy of acquiring banks in overlapping and adjacent markets,” said Christopher Oddleifson, the president and CEO of Independent and the CEO of Rockland Trust. For full story visit nerej.com
Financial Digest
10A October 12 - 18, 2018
New England Real Estate Journal
LOAN THROUGH NATIONWIDE LIFE INSURANCE COMPANY
South Kingstown, RI Office Space
HFF completes $30 million in financing for Blanchard Woods Holliday Fenoglio Fowler, L.P. (HFF) completes $30 million in financing for Blanchard BURLINGTON, MA
$250,000
Porter Terry
South Kingstown Office Park units close to South County Hospital. Perfect for a start-up or thriving practice. Two large sunny offices and an additional five smaller rooms with reception/work area. The office park is nicely landscaped and has ample parking.
R. D. Denelle and Company, Inc. Realtors
2935 Tower Hill Road, Box 130, South Kingstown, RI 02880 Contact Christie Denelle Creamer,
[email protected] office: 401-783-7777 cell: 401-573-1633 www.denelle.com
Martha Nay
Woods, a three-property office portfolio totaling 194,421 s/f. The HFF team worked on behalf of the borrower, Duffy Properties, to secure the 11-year, fixed-rate permanent loan through Nationwide Life Insurance Company. The HFF debt placement team representing the borrower included senior director Porter Terry and director Martha Nay.
NY Tel: 781-878-4540 PROOF NE REAL ESTATE JOURNAL
Proof Approved CREATIVE SOLUTIONS FOR Size: 2x4 Section: From: REAL ESTATE FINANCING NEEDS New Proof
crop 2”
Changes
Run Date: 06/00/18
Spiegel ASSociAteS Recently Closed Transactions
$9,000,000 Construction Loan 65 Apartment Units West Warwick, RI
$450,000 Commercial Loan 3 Unit Apartment Building Allston, MA
$1,100,000 Refinance Loan Commercial Condominiums Cambridge, MA
$4,625,000 Construction Loan 6 Unit Apartment Building Brooklyn, NY
$5,300,000 Construction Loan 18 Unit Condominiums Brighton, MA
$1,200,000 Refinance Commercial Condo Somerville, MA
$3,000,000 Commercial Building Jamaica Plain, MA $2,360,000 Construction Loan Condo Roxbury, MA
$1,400,000 Construction Loan Mixed Use Building Randolph, MA
Sidney J. Spiegel 617-593-4145
[email protected]
$2,500,000 Acquisition Loan Retail Property Mattapan, MA
Commercial Mortgage Financing
76 Blanchard Road - Burlington, MA Blanchard Woods comprises 76, 78 and 80 Blanchard Rd., which are strategically located on 8.26 acres abutting Rte. 128/I-95 and 13 miles north of Boston. The property benefits from its location in the Rte. 128 North office submarket of greater Boston. The area has a strong and growing amenity base, proximity and easy access to Boston’s downtown and suburban employment centers and is home to recent developments such as the 3rd Ave. lifestyle center, The District and Wayside Commons. The three class A office buildings were renovated or completed between 2011 and 2014 and feature a cafeteria and two fitness centers. Collectively, Blanchard Woods is 91% leased to 19 tenants, including anchor tenant Cambridge Trust. “Our client developed a best-inclass asset with a goal of holding it long-term for their own account,” Terry said. “Working with Nationwide, HFF was able to provide a long-term, fixed-rate financing option with compelling terms that helped them realize this goal.”
Financial Digest A section of the New England Real Estate Journal P.O. Box 55, Accord, MA 02018 781-878-4540, www.nerej.com
Publisher Jeff Keller x244
[email protected]
Publisher Jill Graham x231
[email protected]
Financial Digest
nerej.com
October 12 - 18, 2018 11A
$28,000,000
$9,050,000
$1,950,000
Refinance of a 423 Unit Apartment Portfolio
Acquisition of a 34 Unit Apartment Property
Refinance of a 31 Unit Mixed-Use Portfolio
North Providence, RI
Somerville, MA
Pawtucket, RI
$7,500,000
$58,000,000
$6,387,000
Refinance of a 64 Unit Apartment Property
Construction of a 269 Unit Apartment Property
Refinance of a 55 Unit Apartment Property
Melrose, MA
Quincy, MA
Lynn, MA
$1,500,000
$4,475,000
$2,240,000
Acquisition of a 9 Unit Apartment Portfolio
Development of 9 Residential Condominiums
Acquisition of a 25,000 SF Commercial Building
Chelsea, MA
Boston, MA
Malden, MA
Financial Digest
12A October 12 - 18, 2018
DON GRIFFIN APPRAISALS Inc. Professional Appraising Throughout New England Donald J. Griffin, MAI, SRA Commercial Real Property Valuation / Consulting
New England Real Estate Journal
SHEEHAN AND SIDEL PLACE LOAN FOR THE LEARNING EXPERIENCE
EagleBridge Capital arranges $2.7 million mortgage financing EagleBridge Capital has arranged acquisition/ permanent mortgage financing in M A RBOROUGH, M A
Expert Witness, Market Analysis, Eminent Domain Financing, Sub Division, National Credit Tenant Retail, Office, Industrial, Apartment, Mixed Gas-Convenience, Hotel, Restaurant 6 Liberty Square #2236, Boston, MA 02109
781-820-7361
E-Mail:
[email protected]
Building PROOF Relationships Through Boston and Beyond NE NY Tel: 781-878-4540 REAL ESTATE JOURNAL
Changes
Section: FD From: Jeff K Run Date: 1-12
New Proof
Proof Approved
Email:
Client:
Brian Sheehan
Ted Sidel
the amount of $2.7 million for The Learning Experience. The mortgage financing was arranged by EagleBridge principals Brian Sheehan and Ted Sidel who stated that the loan was provided by a leading Massachusetts thrift institution. The Learning Experience is located at 70 Simarano Dr. in Marlborough Hills, a corporate and residential mixed-use development. It is a free-standing childcare learning center containing 10,000 s/f with a 5,000 s/f outdoor play area on a 1.82 acre site. The property is net leased to The Learning Experience on a long term basis. Founded in 1980, The Learning Center is one of the nation’s fastest growing pre childcare centers with more than 300 locations across the country. Also located within Marlborough Hills are the 350 unit Avalon Marlborough Apartments, the Hilton Garden Inn and Conference Center, and a number of corporations including TJX, GE Healthcare, Quest Diagnostics, Wellington Management, Dow
The Learning Experience, 70 Simarano Drive - Marlborough, MA Chemical, Oracle, Lockheed Martin, and the Whole Foods Northeast Corporate headquarters. Sidel and Sheehan said, “We are pleased that EagleBridge was able to
meet the borrower’s requirements and arrange a very attractive long term mortgage financing featuring a most attractive rate, term, and amortization with a flexible prepayment.”
Greystone provides $14m in Fannie Mae financing for Bradley Court apartments WINDSOR LOCKS, CT Greystone, a real
estate lending, investment, and advisory company, has provided a $14.175 million Fannie Mae DUS loan to refinance the Bradley Court apartment community. The loan was originated byAvrom Forman of Greystone’s New York office with Jacob Schmuckler of Meridian Capital Group acting as correspondent. The 12-year Fannie Mae loan includes six years of interest-only payments and a 30-year amortization at 75% LTV. Bradley Court comprises 1,
2, and 3-bedroom units in five separate buildings with a swimming pool and picnic area. The 146-unit market-rate multifamily complex, built in the 1960s, is spread over 14 acres of property and has received significant capital expenditure improvements by the current owner. “After a series of significant renovations and capital invested in Bradley Court, the property is a prime example of quality and much-needed workforce housing in suburban Connecticut,” said Forman.
Developed and redesigned with mortgage support from Rockland Trust – 240A Newbury Street, Boston, MA
Realizing the full potential of each commercial real estate investment opportunity requires relationships — Vincent Norton, Principal, that matter UrbanMeritage To learn more, call 508.732.7072 or visit RocklandTrust.com.
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Financial Digest
nerej.com
October 12 - 18, 2018 13A
FOR AN APARTMENT COMMUNITY AT 625 MCGRATH HIGHWAY
Natalizio of Cornerstone Realty Capital arranges $9m for Micozzi Cornerstone Realty Capital arranged $9 million in financing for Micozzi Companies for an apartment community located at 625 McGrath Hwy. Paul Natalizio, president at Cornerstone, arranged the financing. Paul Natalizio The community includes 34 units, a mix of two studios, 15 one-bedroom, one-bathroom, 15 two-bedroom, one-bathroom and 2 three-bedroom units. Each unit features a contemporary design with granite countertops, stainless steel appliances, a breakfast bar, luxury vinyl plank flooring, and a NEST thermostat. Select units also include a private entrance, giving this property an exclusive edge compared to competition in the area. Square footage varies depending on the unit style, but averages 904 s/f. On-site parking is sufficient with 58 available spaces, a ratio of 1.7 spaces per unit. Located three miles north of Boston, the city has become one of the most desirable area for renters over the last few years. With the recent addition of Assembly Row, one of the largest mixed-use developments in Metro Boston, residents are able to enjoy dining, entertainment and shopping options one mile away from the property. The property also offers access to Kendall Sq. in Cambridge, and downtown Boston situated three and four miles south of the community. Residents can access both locations via the Orange Line on the MBTA at either Sullivan Station or Assembly Row, or via I-93, all located one mile from the property. Marcello Micozzi, vice presiSOMERVILLE, MA
But first a Recap... Everyday at 2:00! dent and principal at the Micozzi Companies, said “Cornerstone’s commitment to the deal and professionalism throughout the process made obtaining the desired financing very simple and streamlined. Their consistent ability to deliver us the market’s most competitive financ-
ing solutions allow us the ability to move quickly when pursuing these acquisition opportunities.” Cornerstone was able to deliver a full-term fixed rate financing structure with 12 months of interest, only followed by a thirty-year amortization.
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CSB’S RECENTLY FUNDED REAL DEALS
New York Life Real Estate Investors places $96 million for The Merc WALTHAM, MA NewYork Life Real Es-
tate Investors, on behalf of New York Life Insurance Company, completed $96 million financing of The Merc at Moody & Main, a 269 unit, class A residential property.This 12 year fixed rate loan is secured by a newly constructed multifamily complex with street level retail anchored by Roche Brothers’ Brothers Marketplace in downtown. “The Merc is an exceptional transit oriented project developed by Northland Investment Corp. that is located steps away from the Waltham commuter rail station and close to shops, restaurants, and museums along Moody St.,” said Eric Becher, head of New York Life Real Estate Investors’ Northeast regional office. “In addition, we are pleased to establish a new relationship with Northland Investment Corp., an experienced and leading real estate investment company headquartered in Massachusetts.”
The new Bentley University Multipurpose Arena is the most environmentally sustainable standalone ice arena in the nation. We’re proud to have partnered with leading solar development and investment company, Rivermoor Energy, to finance the 1,400-panel, 504 kilowatt solar array that produces 40% of the multipurpose arena’s annual electricity needs. Let’s start our relationship today. Michael Kuhn 617.234.7201
Visit cambridgesavings.com/nerej
Financial Digest
14A October 12 - 18, 2018
New England Real Estate Journal
Two 1031 exchange related party questions with answers John Starling Northern 1031 Exchange, LLC
Question 1: Can you sell your property to a related party and still qualify for a 1031 tax deferred exchange? Question 2: Can you buy your replacement property from a related party and still qualify for a 1031? Sure and almost never. First let’s discuss who or what a related party is. Your definition and the IRS definition may be somewhat different so to comply with the code we must use the latter. The term “related party” means any person or party bearing a relationship to the taxpayer described in I.R.C. § 267(b) or
707(b)(1). Related parties include, but are not limited to, immediate family members, such as brothers, sisters, spouses, ancestors and lineal descendants, a corporation in which you have more than 50% ownership, a partnership/LLC in which you own more than a 50% interest and a fiduciary, grantor or beneficiary of the same trust. Related parties do not include stepparents, uncles, aunts, in-laws, cousins, nephews, nieces and ex-spouses, corporations in which you have 50% or less interest and partnerships/LLC in which you own 50% or less. An exchangor can engage in a related party direct exchange which occurs when the related parties swap properties directly with each other simultaneously provided the exchange properties are held for two years. So an exchange may be made
NORTHERN 1031 EXCHANGE
1031 EXCHANGE*
Preserve profit and build wealth through tax deferred exchange
“Understanding 1031 Exchange and the benefits are essential for every property owner selling real estate.” - Michele Fitzpatrick, VP 1031 Exchange Relationship Manager
Are you looking to sell an investment property and reinvest the proceeds? Work with Michele to ensure your 1031 Exchange is held in a non-comingled, secure escrow account.
*Northern 1031 Exchange, LLC, a subsidiary of Northern Bank, does not provide tax, legal or accounting advice, nor can we make any representations or warranties regarding the tax consequences of your exchange transaction. We strongly encourage you to seek appropriate professional advice regarding your specific facts and circumstances.
[email protected] | 781.404.1972 | nbtc.com/business/1031-exchange
with a related party, however IRC Section 1031(f) imposes restrictions on these types of exchanges. Subsection (f) which was added to 1031 in 1989 denies non-recognition of the capital gain if either the related party or exchangor dispose of the property received within two years of the date of the last transfer which was part of the exchange. The 1031 Exchange will be disallowed and the corresponding depreciation recapture and capital gain income tax liabilities will be recognized should either the taxpayer or the related party dispose of either of the respective properties prior to the end of the two year holding period. The gain or loss from such a dis-allowance would be recognized on the date of the disposition of the subject property. Answer to Question 1: The exchangor should be able to transfer its relinquished property to a related party in an exchange and acquire the replacement property from an unrelated party without violating the related property rules and the related party may sell the acquired property without a holding period. The related party may also acquire the relinquished property from the exchangor in a reverse exchange if the exchange accommodation titleholder has taken title to the replacement property in the reverse exchange. This allows the taxpayer to complete the reverse exchange within the 180-day reverse exchange period consequently the related party would have an unlimited time to sell the exchangor’s relinquished property. Exchangors should have a business purpose if they want to effect this type of transaction. The related party should be a real party in interest and not just a shell entity set up for the sole purpose of effecting this transaction, with the entity dissolving after the relinquished property is sold. The related party should bear the benefits and burdens of the ownership of relinquished property, and should not be acting as the taxpayer's agent. And finally the purchase price of the relinquished property should also be fair market value and supported by an appraisal. Answer to Question 2: The purchase of the replacement property from a related party when selling the relinquished property to a non-related party will result in the IRS disallowing the exchange. The IRS Revenue Ruling 2002-83 published in 2003 makes it clear that regardless of the time the exchangor holds the new replacement property, the purchase of the replacement property from a related party without a simultaneous swap of properties between the related parties will not be allowed.
John Starling, senior vice president, Northern 1031 Exchange, LLC, Woburn, Mass. For full story visit nerej.com
Financial Digest
nerej.com
October 12 - 18, 2018 15A
$13,000,000 First Mortgage Loan for
Stop & Shop Plaza in
Stoughton, Massachusetts on behalf of an affiliate of
Katz Properties, LLC The undersigned arranged the above financing with Nationwide Life Insurance Company, for whom it will service the loan.
Goedecke & Co., LLC 10 High Street Boston, MA 02110 617-790-9000
1720 Post Road East Westport, CT 06880 203-221-1151
www.goedeckeco.com
Financial Digest
16A October 12 - 18, 2018
Looking as coverage as it relates to your risk profile
DELIVERING EXCEPTIONAL RESULTS
Spencer Macalaster
Risk Strategies Co.
Newmark Knight Frank specializes in counseling and valuation assignments involving investment properties for a wide range of public, private and institutional clients. Our clients benefit from our robust service offerings including valuation reports, litigation support, arbitration, tenant counseling and valuation review. David L. Cary Gregory T. Curtis Christopher J. Kolodziey Elisha F. Lee Christopher L. Moore Matthew K. Pattison Scott A. Rand
Massachusetts: Faneuil Hall Marketplace, 4 South Market Building, Floor 4, Boston, MA 02109 T 617.451.9110 • F 617.451.0039
New England Real Estate Journal
[email protected] [email protected] [email protected] [email protected] [email protected] [email protected] [email protected]
ngkf.com
2017 was the year of the catastrophic weather and fire event, with three major hurricanes hitting Texas, Florida and the Caribbean, two major fires in California, and an earthquake in Mexico; worldwide catastrophes reached epic proportions. Major events that we would never envision happening are indeed occurring. Although several lines of insurance coverage are relevant in these events, the potential for financial loss due to Property Loss, Business Interruption (BI) or Contingent Business Interruption (CBI) are often overlooked by businesses and their brokers when structuring insurance coverage. Too often, we are all
focused on saving premium and miss meaningful provisions and sub-limits that are vital in the event of a major loss. Hence, the following lessons from these events: • Flood coverage. Most commercial and personal policies exclude flood, particularly if the property is in or near a flood zone. Loss of income coverage, BI and CBI, generally only kick in if preceded by a covered peril. If flood is excluded on a policy, it becomes a challenge to trigger other coverage. If a client is anywhere near a flood zone, include flood coverage and/or increase the nominal sub-limits offered on most package policies. And, remember the National Flood Insurance Plan (NFIP) is a low cost option for clients located in flood zones.Also, review the definition of flood in the policy as it varies from carrier to carrier. • Wind coverage. Wind is covered on most policies but with potentially
RESIDENTIAL COMMERCIAL ASSISTED LIVING DEVELOPMENT
For more information about Risk Strategies and our insurance solutions, contact Spencer Macalaster at 617.330.5705 or
[email protected]
www.RiskStrategies.com
higher deductibles, particularly for named storms. Pay close attention to the policy language as it relates to storm surge and wind-driven rain. Correlating coverage between flood and wind is essential before the claim happens. • Business Income/Extra Expense. Generally, there must be some level of physical damage that results in a loss of business income.This physical damage must be caused by a covered peril, e.g. fire, flood, wind, etc. Ensure limits are adequate and check sub-limits on package policies. Pay close attention to the number of days provided in the policy for Extended Business Income, coverage for the period of time to restore the business to its pre loss activity levels. • Contingent Business Interruption. Loss of business income due to suspension of operations caused by a direct physical loss at the premises of a “dependent property” – customer, key supplier, etc. Many of our clients are suffering financial losses from Sandy even though they had no direct damage themselves. Talk to your clients about this exposure and ensure sub-limits are adequate. • Business Income – CivilAuthority. Order of Civil Authority prohibits access to insured premises due to direct physical damage to property other than the insured’s caused by a covered loss. This often overlooked coverage could be quite relevant during post- cleanup. Several of our clients have experienced business income losses due to lack of access to their locations. Check the number of days of coverage and the waiting period deductible on your clients’ policies. • Ingress/Egress. Business interruption loss due to lack of ingress/egress to your insured’s premises caused by a covered peril. Considerations similar to Civil Authority coverage above. • Claims Data Expense. Reasonable expenses incurred in preparing claim data required by a carrier. Includes forensic accounting, claim documentation and other expenses relevant to preparing a claim. Most policies contain some provision for this. Many of our clients are taking advantage of this coverage to offset the costs of preparing a claim. Make sure the sub-limits are adequate, minimum of $25,000. • Utility Services – Time Element. Loss of income due to service interruption. Ensure that the service interruption definition includes, power, utilities, communications, etc. Check sub-limits and waiting period. Pay special attention to how coverage applies especially as it relates to transmission and distribution lines. A prolonged power outage can cause real financial loss because of no service. Risk Strategies’s NYC office was closed for over week after Sandy due to lack of access, no power, no heat….
Spencer Macalaster is a executive vice president and real estate practice leader with Risk Strategies Co., Boston, Mass. For full story visit nerej.com
Financial Digest
nerej.com
October 12 - 18, 2018 17A
TO FINANCE ENERGY SYSTEM ON BENTLEY UNIVERSITY ARENA
Cambridge Savings Bank partners with Rivermoor on solar project WALTHAM, MA As the first community
bank to finance a solar project back in 2010, Cambridge Savings Bank (CSB) is recognized as an industry leader in the alternative energy space, making them an easy choice for leading solar development and investment company, Rivermoor Energy, to partner with to finance an industry-leading solar energy system on the roof of the new Bentley University Arena. “At CSB, we like to think of ourselves as having a unique niche in the renewable energy space, financing 53 solar projects totaling approximately 75 megawatts since 2010, we were excited when Rivermoor approached us about the Bentley University project,” said Michael Kuhn, senior vice president, CSB. Kuhn’s deal with solar asset owner Rivermoor Energy provides the longterm debt financing of the solar asset on the roof of the new arena, which serves as home ice to the university’s NCAA Division 1 men’s hockey team, concerts, student life events, alumni gatherings and career fairs. “Hockey arenas really are a great match with an on-site renewable energy system, in this case solar, because you can generate a huge amount of the electricity needed on an annual basis, through the asset right on the roof,” said John Tourtelotte, founder & managing director at Rivermoor Energy, which is providing a ten-year power purchase agreement to Bentley University. The 1,400 panel, 504 kilowatt solar array, which is designed, developed installed, owned and managed by Rivermoor at no cost to Bentley, is a building-integrated system on the roof of the 76,000 s/f arena. The solar asset generates 40% of the building’s annual energy needs. The arena has been named one of the most environmentally sustainable in the nation, and one of the first standalone ice arenas to earn the LEED Platinum certification, a well-deserved recognition backed by Bentley’s long-standing commitment to the sustainability, and according to Tourtelotte and Kuhn, an impressive project powered by collaborative leadership, strong partnerships and creative thinking. “Bentley’s thoughtful use of solar technology to power a modern, energy efficient arena demonstrates leadership in building design and a model for other universities and companies to follow,” Tourtelotte said, “From Rivermoor’s perspective, as the solar asset owner, we were able to match the objectives that Bentley University had as our client with the underlying financing strategy and solution as a result of all the great work and creative thinking done by Mike Kuhn and his team at Cambridge Savings Bank.” Kuhn said, “At CSB, we are always trying to think outside the box and find creative and innovative solutions, and that’s the same innovative mindset I
saw from Rivermoor and Bentley as is an incredible, environmentally suswell.The project is financially impact- tainable arena that Bentley students ful in reducing the lifecycle operating will continue to enjoy for the next costs of the arena, and the outcome twenty-five or more years.” Commercial2ARMs_NEREJ_10.3.18_Layout 1 10/4/2018 9:09 AM Page 1
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Financial Digest
18A October 12 - 18, 2018
New England Real Estate Journal
The Real Estate Finance Association services individuals in the business of real estate finance and those who furnish services to the industry
President Paul Ayoub
Nutter, McClennen & Fish LLP Boston, Mass.
Executive Director Adrienne Maley
www.gbreb.com
Real Estate Finance Association
KEYNOTE PRESENTATION ON COMMERCIAL REAL ESTATE: THEN, NOT AND THE FUTURE
The Real Estate Finance Association hosts Fall Conference Sept. 28 at Boston Harbor Hotel BOSTON, MA The Annual
REFA Fall Conference was held September 28 at the Boston Harbor Hotel with over 170 guests in attendance. The event included a keynote presentation on “Commercial Real Estate: Then, Not and The Future,” followed by an in-depth panel discussion on the topic of “Commercial Real Estate Disruptors.” The keynote session included moderator Marci Griffith Loeber, managing principal, Griffith Properties. Panelists included: Bill McCall, founder and president, McCall & Almy; John Fowler, executive managing director, HFF and Ronald Druker, president, the Druker Company. The second panel session included moderator Steve Weikal, head of industry & alumni relations at MIT MSRED, MCP '08, MiT Center for Real Estate. Panelists included: Katie Sullivan, founding team, marketing & communications, HqO; Linda MacLeod Fannon IIDA RDI, vice president, Elkus Manfredi Architects and Sarah Travers, CEO, Workbar. The Real Estate Finance Association held its 30th Annual Gala on October 11 from 5:30 – 9:00 p.m. at the Marriott Copley Place. David Manfredi, CEO and founding principal, Elkus Manfredi Architects and Elizabeth Lowrey, principal, Elkus Manfredi Architects, were awarded with the 2018 Robert S. Swain Jr. award, REFA’s Distinguished Service Award. Manfredi and Lowrey join an elite list of past recipients including: Stephen Karp and Steven Fischman of New England Development in 2017, John Drew of the Drew Company in 2016, Bryan Koop of Boston Properties in 2015, Pam Herbst of AEW Capital Management in 2014, mayor Thomas Menino in 2013, and Joe Fallon of the Fallon Company in 2012. In honoring Manfredi and Lowrey, Elkus Manfredi Architects becomes
Shown (from left) are panelists Ron Druker of The Druker Company, Marci Griffith Loeber of Griffith Properties (panel moderator), John Fowler of HFF and Bill McCall of McCall & Almy at the REFA Fall Conference.
the first architecture firm to be recognized among a distinguished list of New England based companies. The Rise of Alternative Debt will be the topic of discussion at REFA’s October 17 Education Program. Jennifer Keller, senior director with HFF will lead the discussion among speakers Matthew Klein, vice president, CrossHarbor Capital Partners; Adam Gibbons, vice president, The CIM Group; Read Mortimer, senior vice president, debt & equity investments, Rubenstein Partners and Daniel Nagler, SVP, director of capital markets, CC&F.The event will
be held at WilmerHale, 60 State St., from 7:45 – 9:15 a.m. REFA will hold its Fall Women’s Leadership event on October 29, featuring keynote motivational speaker Betsy Myers. As a leadership expert, author and advocate, Myers is the founding director of the Center for Women and Business at Bentley University, was previously the executive director of the Center for Public Leadership at Harvard’s Kennedy School of Government, was senior adviser to two U.S. presidents, and most recently served as COO of the Obama Presidential Campaign and
Shown (from left) are: moderator Steve Weikal, MIT Center for Real Estate; Katie Sullivan, HqO; Linda MacLeod Fannon, Elkus Manfredi Architects and Sarah Travers, CEO, Workbar.
chair of Women for Obama. The event will take place at 4:30 p.m., followed by a networking reception at 225 Franklin St. Hosted by the REFA Emerging Leaders, REFA will hold its Fall Executive Insights program on November 12, featuring speaker John Barros, chief of economic development, city of Boston. The Executive Insights series is designed to bring Emerging Leaders and industry leaders together for an informal, closed-door conversation. Speakers spend time during the program talking about their careers, how they got to where they are today,
Fantini & GorGa
Kevin C. Phelan Co-Chairman
617 330 8050
160 Federal Street Boston, MA 02110-1707 www.colliers.com
provide advice for Emerging Leaders and their take on the market. Part two of REFA’s two-part Tax Reform Education Series will take place on November 13. John Sheehan, Lauren Sykes and Steven Kennedy with PwC will break down the “Tax Cuts and Jobs Act” (TCJA) legislation, update attendees on the changes that have taken place over the past few months and tell you what you need to know about the impacts on the real estate industry. For more information about REFA and upcoming events, please visit our website at www.REFA.org.
The Copley Group
617.262.3930 Phone 617.927.6930 Fax
[email protected] New England’s premiere condominium management company Since 1983
896 Beacon Street, Boston, MA 02215-3139
Casimir R. Groblewski
Senior Managing Director
[email protected] 155 Federal Street Boston, MA 02110 www.fantinigorga.com
Direct Dial: 617.897.1146 Cell: 781.883.4865 Fax: 617.951.9944
Skillfully Linking Borrowers and Lenders
Financial Digest
nerej.com
October 12 - 18, 2018 19A
Sep-18 CURRENT TERMS
OPTION
EXPLANATION
REQUIREMENTS
SOURCES
CONSTRUCTION LOAN AGAINST TAKE-OUT
Finance project until a permanent loan or pre-sale is funded.
Borrower track record and completion guarantee.
Mostly banks.
CONSTRUCTION WITH PERMANENT
Single source construction and permanent loan.
Finance project OPEN-ENDED without take-out CONSTRUCTION or other repayment LOAN source in place.
INSURANCE COMPANY PERMANENT LOAN
BANK PERMANENT LOAN
Borrower track Mostly banks, record, financial but also some strength, and insurance viable project. companies.
Experienced sponsor, and project with strong market support.
Fixed rate medium to long term Typically A & B financing on quality assets in stabilized primary markets. properties.
Creditworthy Fixed rate up to 10 sponsor and year financing on property of A, B leased properties. or C quality.
Creditworthy Fixed rate 10 years borrower and CONDUIT/CMBS on leased well maintained LOAN properties. property of "B" or better quality.
FANNIE & FREDDIE (GSEs)
FHA
TAX- EXEMPT FINANCING
Mostly banks.
Insurance companies.
Tax exempt financing on a long term basis.
Project must be deemed to have public purpose.
RATES
Specialized areas only, Mostly LIBOR + see 175-250bps. comment.
Fair
Fair
Strong
LIBOR + 200-350bps.
Loan level depends on recourse / pre-leasing.
Typically 1201.25 DCR or 250bps over 8%-10% debt comparable term yield. or average life 65%-75% Treasuries. LTV.
FHLB or swap + 140-250bps.
Investment banks, a few banks and insurance companies.
Good
Swaps + 160-275bps.
Strong
145-225 bps over like term Treasury.
Good
State HFA's, bond funds and some banks.
Adequate
Loan level tied to takeout.
1.20 - 1.25 DCR on projected NOI.
Strong
HUDapproved MAP Lenders.
SIZING
Floating rates slightly higher than above. Perm @ swaps +, FHLB +, or fixed rate for full term.
Banks.
DUS Lenders Medium to long Creditworthy for Fannie and term financing for borrower. Program Plus apartment Apartment for Freddie, properties & property of B also "small senior housing. quality or better. balance" lenders.
Construction and Feasible property permanent economics. financing for Borrower with apartments, skilled clean credit and nursing, and cash to close. assisted living.
ACTIVITY LEVEL
Typically 1.20-1.25 DCR, 75%-80% LTV.
TERM (YRS)
1/4 to 1/2
Tied to completion
1/4 to 1
1/2 to 1
Typically 0
AMORT
COMMENTS
- Few takeout alternatives available; mainly for build-toInterest only. suit and some apartment projects.
Construction period + 5-10 years
- Typically 20%-40% equity depending on recourse level Interest only and pre-leasing. during - Most loans for apartment construction, projects. 20-30yrs for - Banks are cautious because of permanent. concerns about market absorption.
Tied to completion + 6-12 months
- Some pre-leasing required, unless apartments. - Typically 20%-40% equity Interest only. depending on recourse level and pre-leasing. - Mainly build for sale projects.
3 to 30
10 to 30 yrs.
- Selective in evaluating asset quality, location and sponsorship, but some insurance co's target smaller loans in secondary markets at a higher rate. - Non recourse, no operating covenants.
- Recourse likely required, especially over 65% LTV,unless apartments or credit leased. - Ongoing loan covenants usually required.
0 to 1/2
5 to 10
20-30 yrs.
1.20-1.25 DCR. 75%-80% LTV.
10-Jan
25-30
25-30
1.25-1.30 DCR. 75%-80% LTV.
0 to 1
5 to 30
Typically 30 yrs.
-Competitive underwriting / pricing for workforce / affordable housing and for "green" projects.
10 yr Treasury + 110 +/- for 35 year perms Perms: 1.17 + 60bps MIP. DCR, 85% 10 yr Treasury + LTV (80% 125 +/- for 40 yr with cash out.) construction perms + 65bps MIP.
Varies widely depending on term and credit enhancement.
POINTS
1.15-1.25 DCR. 85% LTV.
- Full leverage loans in secondary and tertiary markets. - Interest-only readily available.
1 to 2
35yr for permanent, 40yr for construction
35-40 yrs.
- Non-recourse, no operating covenants. - Lower MIP for affordable projects and for "green" properties. - Attractive prepay provisions. - No affordability requirement. - Davis Bacon wages on construction.
1 to 2
10 to 40
25 to 40 yrs.
- Most activity is housing or health care related. - Can be structured with or w/o credit enhancement.
The terms shown herein approximate market conditions at the time of publication and are subject to frequent changes based on Fantini Gorga 155 Federal Street, Boston, MA 02110 Ph: 617.951.2600 Fax: 617.951.9944 Visit us at www.fantinigorga.com
1 of 2
New England Real Estate Journal
20A October 12 - 18, 2018
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Harold Brown The Hamilton Company
Bruce Percelay Mount Vernon Company
Norman Levenson Copley Group
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October 12 - 18, 2018 21A
Referral Network This Week’s Real Estate Specialist - Londonderry, NH TINKHAM REALTY
Residential, Commercial and Industrial Route 102, Londonderry, NH 603-432-7769 / Fax: 603-434-1545 www.tinkhamrealty.com email:
[email protected]
FOR THE BUILDING OWNER, HILLSIDE ASSOCIATES
Amadei of R.W. Holmes handles 50,000 s/f lease to Braidy Industries
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.
Portsmouth, N.H.
508-272-9910 Tony Baldwin, CCIM One Park Place, Plymouth, MA 02360 www.baldwin-realestate.com
[email protected]
The Kane Company 603-430-4000 netkane.com
Cape Cod Mass.
Southern New Hampshire
René L. Poyant, Inc. REAL ESTATE MANAGEMENT
R.W. Holmes Realty completed the leasing of 50,000 s/f at Waltham Research Park to Braidy Industries. The 220,000 s/f, three building complex is exclusively listed by Arthur Amadei, senior vice president of Holmes. Arthur Amadei R.W. Renovated in 2017, the buildings are ideal for office, R&D or lab space. Amadei represented the park’s owner, Hillside Associates, in the completion of the deal for the Kentucky-based aluminum manufacturer. T3 Advisors represented the tenant in the transaction. Braidy Industries acquiredVeloxint Corp. and the 50,000 s/f Research Park location will be the home of Veloxint Research and prototyping facilities. The MIT developed Veloxint provides progressive, high performing products and parts enabled though their novel nanocrystalline metal alloys and was recently awarded the 2018 S&P Platts Global Metals Breakthrough Solution of the Year award. Veloxint was previously headquartered in Framingham. WALTHAM, MA
West Hartford, Conn. www.brodercommercial.com
O’Brien and DeWolfe of Greater Boston Commercial Properties broker $950,000 sale
Res/Comm’l/Ind Consultants One Verani Way, Londonderry, NH 03053 603-845-2500
Western Mass.
Central New Hampshire Brenda Litchfield, CCIM
Concord Commercial, LLC Macmillan Group, LLC
2½ Beacon Street, Suite 159 Concord, NH 03301
413-240-2358
603-225-3200
85 Mill Street, Springfield, MA 01108
[email protected]
[email protected]
Burlington, Mass.
Hanover/Lebanon, N.H.
McLaughry Commercial
13 Brent Drive - Hudson, MA
Commercial Real Estate
Bret O’Brien and Tyler DeWolfe of Greater Boston Commercial Properties, Inc. brokered the sale of a 7,000 s/f contractor’s building at 13 Brent Dr. The buyer, J.A. Crowdle Corp., purchased the property for $950,000. J.A. Crowdle is a landscaping company that has been providing professional landscape construction & maintenance services to residential and commercial clients in the Greater Boston Area, for over a decade.
Greater Boston Commercial Properties represented the seller and procured the buyer as the sole broker in the transaction.
Milford, Conn.
Northern Rhode Island
HUDSON, MA
Arnold Peck’s
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
Bret O’Brien
Tyler DeWolfe Ron Fredette, CCIM, CIPS 138 River Rd., Andover, MA Office: 978-475-2111 Cell: 603-540-4489 Email:
[email protected]
Londonderry, N.H.
Since 1965
43 North Main Street West Hartford, CT 06107 860-249-1540
680 Boston Post Rd., Milford, CT 06460 203-877-1345 / Fax: 203-877-6090
[email protected]
Connecticut River Valley
South Windsor, Conn.
Providence, R.I.
Lease Rate: $7.50 psf, nnn. Norwood for details.
Call Chris
commodate a variety of users. Lease rates vary. Some units broker owned. For more info, call Louise or Chris Norwood.
Vermont
Ridgewood Road & Palomino Lane Bedford, NH
TINKHAM REALTY
Residential, Commercial and Industrial Route 102, Londonderry, NH 603-432-7769 / Fax: 603-434-1545 www.tinkhamrealty.com email:
[email protected]
Warwick, R.I.
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.
Same photo as January
225 Lowell Road • Hudson, NH
Several retail & office units from 950-1,700+/SF available on busy Route 3-A across from the
Stop & Shop. Very visible with high traffic Vermont’s Commercial Real new Estate Leader Since counts. Lease rates $8.50 to $10.75 psf, nnn. 1987 Call Joe Russo for more information and to schedule an appointment.
Sales & Leasing Same photo as Buyer/Tenant Representation New Photo January Site Selection
29 Church St.,Burlington, VT 05401 Indian Head Plaza 30 Temple St. • Nashua, NH 802-878-9000, www.jldavisrealty.com Class A Office - 1,600 to 18,724 SF is available
873 Page Street • Manchester, NH
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.
15 Con
Several C 1,771+/- S able in on with conv Lease rate $1.50 psf tact Perry
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.
Nashua, N.H.
227
1,300+/-SF include res and more. Easy acces Sagamore month. C
M 30
Well-estab 2,880 to 5 date a vari & high tra informatio Russo.
LAND FOR SALE
Also Serving NH & VT
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.
Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance
Mark F. Butler, Specialist
800-542-5188
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 ac-
Same photo as January
BERETTA REALTY CO. SALES • APPRAISALS DEVELOPMENT -401-724-7980
[email protected] 869 Smithfield Ave., Lincoln, RI 02865
www.townandcountryrealty.com
[email protected]
veranicommercial.com
Post Office Square, 20F Camp Opechee Rd. Centerville, MA 02632 508-775-0079
[email protected]
Residential & Commercial • Sales & Leasing
800-292-1102
950 Sullivan Ave., #19 South Windsor, CT 06074
[email protected]
146 Westminster Street, 2nd Floor Providence, RI 02903 401-273-1980/Fax 421-4207 www.hayessherry.com
Merrimack: 1/2 acre industrial parcel. Sale price $99,000. Call Perry Snow for more information.
www.ButlerRealty.us or email Jeff Butler at
[email protected] Trusted Real Estate Service Since 1977 401-886-7800
116 So Bedfo Tel. (6 Fax (6 www.then Email: info@t
PROLMAN REALTY 100 Elm St. Raymond, NH: 5.05+/- acres w/687+/- SF frontage on Route 27. Sale Nashua, Price: $495,000. For details, call Joe Mendola or Joe Russo. NH The information provided herein, while not guaranteed, is secured from sources we believe to 603-880-6655 All data is subject to change of price, error, omissions, other conditions or withdrawal with
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.
[email protected]
New England Real Estate Journal
22A October 12 - 18, 2018
nerej.com
BEAN OF BOSTON REALTY ADVISORS REPRESENTED THE TENANT H
RBL Amerıca Corp.
Commercial Cleaning Services Rough cleaning to detailed post construction cleaning
Buckley and Landers of CBRE/NE handle 5,000 s/f lease for Legacy R.E. CBRE/New England completed a seven-year lease totaling 5,000 s/f of office space BOSTON, MA
Patrick Buckley
www.rblamerica.com email:
[email protected]
BIG news
NY Tel: 781-878-4540 PROOF NE REAL ESTATE JOURNAL
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Jeff Landers
with Camp Harbor View, a non-profit camp for kids from the city’s under-served neighborhoods, at 46 Plympton St. in the city’s South End. Their relocation will allow for continued growth and inspiration within the company. CBRE/NE’s Patrick Buckley and Jeff Landers represented the landlord, Legacy Real Estate Ventures, and Peter Bean of Boston Realty Advisors represented the tenant. “Camp Harbor View is such a great organization enhancing the lives of so many kids here in Boston, and we are thrilled they chose 46 Plympton,” said Michael Price of Legacy. Camp Harbor View was started from a conversation between mayor Thomas Menino and Boston businessman Jack Connors in January 2007. The camp opened that very summer with 300 campers ranging from ages 11-14. Since its inception, the camp hosts 900 campers per year. The summer camp provides campers with apparel, transportation and three meals a day. In the spirit of having fun, the summer camp facilitates
a plethora of programs incorporating aquatics, leadership development, arts, education and fitness. In addition to the summer camp, Camp Harbor View provides children and their families with a year-round community with access to parent programs, counseling, tutoring, after-school teen programs and much more. 46 Plympton St., a five-story building encompassing 25,000 s/f of office space, is located near the Ink Block apartments and the future development of Exchange South End, the former Boston Flower Exchange site. The five-story building offers 13’ ceiling height, hardwood floors, bicycle storage and showers.
46 Plympton Street - Boston, MA
Paying it forward: Personal public relations CONTINUED FROM PAGE 4
it to someone who does something for you. Pay it forward.” She smiled and walked away, clutching the coin. The gift shop lady also smiled from ear to ear. I did, too. I affixed the stamps and mailed the postcards. I came home with two half dollars that never found deserving recipients. Let me know if you try this experiment! One of my favorite sayings: A good idea can be worth a million dollars.
Similarly, a nice gesture is worth a million smiles. “Paying it forward” makes the world a better place. And a good PR person can be worth a million Kennedy half dollars. Contact me for a complimentary consultation.
Stanley Hurwitz is principal/creative director of Creative Communications, Stoughton, Mass.
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New England Real Estate Journal
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October 12 - 18, 2018 23A
New England Chapter
The most prestigious designation for office industrial real estate with 2,700 members internationally
New England Chapter President Timothy Brodigan, SIOR
www.siorne.com
Colliers International Boston, MA
AT THE WANNAMOISETT COUNTRY CLUB, RUMFORD, RI
SIOR New England hosts 3rd Annual Gold Outing July 23
Robert J. Nahigian FRICS, SIOR, CRE, FRICS, MCR 335 Auburn St., P.O. Box 66125 Newton, MA 02466 Tel: 617-332-6900, Fax: 617-965-2570
[email protected] www.siorcre.com
Auburndale Realty Company Since 1949
Worldwide Commercial Real Estate Services
Ernest C. Wronka, SIOR, CCIM, GRI The District, 1500 District Ave. Burlington, MA 01803 Tel: 781-229-2233
[email protected] www.wronkaltd.com Garry R. Holmes R.W. Holmes Realty Co., Inc. 321 Commonwealth Rd. Wayland, MA 01778 Tel: 508-655-5626 Fax: 508-651-3415 www.rwholmes.com
RUMFORD, RI The New England Chap-
ter held its 3rd Annual Golf Outing on July 23, at the Wannamoisett Country Club. The event sponsors include: DACON, DPM, Vantage Builders and Patridge Snow & Hahn, LLP. The chapter would like to thank the sponsors. The event was by invitation only and served as a scholarship event. The scholarship event is held in the fall in which a grant is giving to an up and coming commercial real estate young broker.The grant money can be used to attend an SIOR national convention or towards a SIOR national designation educational event. Over 60 people participated in the golf outing on a great weather day. The registration and lunch commenced at 11:30 a.m. with a full buffet and take-out lunch with drinks. Tee-off was at 1:15 p.m. as a shotgun start
and best ball format. Cocktails and hors d’oeuvres followed at 5:30 p.m. At the cocktail reception the winners of the gold outing were announced. On behalf of the SIOR New England chapter, they would like to thank attendees for your participation in the
2018 Invitational Golf Tournament. Additionally with your support, they raised $1,500 for the MIT Center for Real Estate Scholarship. They will present the scholarship this fall in collaboration with MIT Center for Real Estate.
Thomas O. Sweeney, SIOR Sweeney Real Estate & Appraisal 170 Westminster St., Ste. 750 Providence, RI 02903 Tel: 401-331-9300 Fax: 401-331-9306
[email protected]
Chuck Reilly 16 Huron Drive, Natick, MA 01760 Tel: 508-651-3600 Fax: 508-655-2229 www.DACON1.com
Michael J. Giuttari, SIOR George Paskalis, SIOR Tel: 401-751-3200 Toll Free: 877-751-3201 www.mgcommercial.com
Karl F. Sherry, Jr. Peter C. Hayes Jeff Finan 146 Westminster St., 2nd Fl. Providence, RI 02903 Tel: 401-273-1980 Fax: 401-421-4207
Nahigian of Auburndale reappointed to MRELC education subcommittee According to Auburndale Realty Co., the companies principal, Rob Nahigian, FRICS, SIOR, CRE, MCR, was re-appointed by the Mass. Real Estate Licensing Commission/Real Estate Board (MRELC) to its education Rob Nahigian subcommittee. Nahigian received a confirmation letter from the program coordinator, Kristin Mitchell to inform him of the re-appointment. The education subcommittee reviews and recommends to the state’s executive director and associate executive director the continuing educational requirements to remain a real estate licensed salesperson and/ or broker. The subcommittee also recommends hours required for educational requirements for all licensing issues and approves any new courses submitted by the public for review. NEWTON, MA
R.W. HOLMES REALTY CO., INC.
Shown (from left) are: Bob Cleary and Don Mancini
Independently Owned and Operated A Member of the Cushman & Wakefield Alliance
Michael Giancola SIOR, CCIM 3131 Cranberry Highway E. Wareham, MA Tel: 508-759-3030 www.southeastcommercialre.com
2018 New England SIOR Chapter Officers President
Timothy Brodigan Colliers International
Vice President
Michael Giuttari MG Commercial R.E. Services
Secretary
George Paskalis MG Commercial R.E. Services
Treasurer
Katherine Williams Kane ReloLogic and Maestro Consulting
Listings are a smart way to advertise your business.
Shown (from left) are: John Connor of Vantage and Rob Nahigian
Contact Patty Colman,
[email protected] Karen Dowell,
[email protected] 781-878-4540
New England Real Estate Journal
24A October 12 - 18, 2018
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Cities of Pawtucket and Central Falls 2 0 1 8 S U M M IT
The Next Great Development Opportunity with $50 million dollar commuter train station and transit hub ready to break ground
November 15, 2018
Speakers
Isles Brewers Guild 461 Main Street, Pawtucket, RI
Mayor Donald Grebien Mayor of Pawtucket
Mayor James Diossa Mayor of Central Falls
Jan Brodie Pawtucket Foundation
Register today! Early Bird Rate $59 ends November 10 Regular Rate $79 after November 10
Contact Rick Kaplan 800-654-4993, ext. 247
[email protected] www.pawtucketsummit.eventbrite.com Sponsorship and Speaking Opportunities Available.
Meredith Brady Division of Statewide Planning
Alison Bologna Terry Gray Developer, RI Dept. of Environmental Chanel 10 News Host Management
Jeremy Duffy Isle Brewers Guild
Lance Robbins Urban Smart Growth
9:30am-10:00am
Networking and Continental Breakfast
10:00am-11:00am
Funding Resources and Investment Opportunities
Agenda
Barbara Fields RIHousing
11:00am-12:00am
Businesses Already Investing - Why Getting in On The Ground Floor is Making Sense
12:00noon-1:00pm
Networking with Speakers and Attendees
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New England Real Estate Journal
October 12 - 18, 2018 25A
617.591.6600
Back Page A October 12 - 18, 2018
New England Real Estate Journal
Medical Suites
nerej.com
1,170 to 3,546 SF
Woburn - 3 Suites Available
Prime space for Healthcare providors Three suites are currently available in this newly renovated complex, conveniently located directly outside Woburn Center and minutes from Routes I-95/128 and I-93. Choate Medical Center is directly adjacent to New Horizons at Choate, an upscale 126-resident independent and assisted living retirement community.
SUITEs FEature • Multiple exam rooms
• Bright reception areas
• MBTA bus service nearby
• Ample free on-site parking
• Adjacent to New Horizons assisted living community
Join these Neighboring medical practices
For leasing information, contact Ed
Silvey at 781-932-7039 or
[email protected]
Rhode Island 95 Cripe St. North Kingstown, RI (401) 295-0044 www.quonset.com
(401) 621-4336
October 12-18, 2018 Section B
Quick Read Procaccianti Cos. tops off 176-room $60m Residence Inn in Providence
PROJECT TEAM INCLUDES A/Z CORP. AND GENESIS ENGINEERS
Rubius Therapeutics breaks ground on $155 million facility Governor Gina Raimondo joined Rubius Therapeutics CEO Pablo Cagnoni, M.D., and state and local officials to break ground on a new pharmaceutical manufacturing facility at the old Alexion factory at 100 Technology Way. Founded in 2013, Rubius Therapeutics is developing treatments for cancer and other diseases using a new technology it calls Red Cell Therapeutics. Once completed, the 135,000 s/f facility will support 160 new, high-skilled jobs in manufacturing, biotech operations and other support functions. Rubius plans to invest up to $155 million over about five years to renovate an existing building. The project is supported by incentives from Rhode Island’s innovative toolkit of economic development programs. “This is more outstanding news for Rhode Island. I’m thrilled that Rubius has decided to invest here, adding to the growing list of companies bringing highly-skilled jobs to our SMITHFIELD, RI
SEE PAGE 2
Waldorf Capital Ptrs. breaks ground on $33 million Chestnut Commons
SEE PAGE 4
Carpionato Group acquires 210,000 s/f The Shops at Quonset
SEE PAGE 14
20 Pages
The Foncellino team of Coldwell Banker sells 2 retail bldgs. for $300,000
The Ann Foncellino team of Coldwell Banker commercial division listed and sold two retail buildings located at 86 Kilvert St. for $300,000. The buildings total 6,000 s/f and are located on a 23,000 s/f lot. The historic Ann Foncellino buildings, formerly The Hillsgrove Post Office, have been the home to Sandwich Junction restaurant for over 40 years. The owner has decided to retire. WARWICK, RI
City of Pawtucket...............6 City of Warwick..................8 Quonset..............................12
New England Real Estate Journal nerej.com
The new owner, Smart Body LLC, will develop the properties into a golf pro shop and a food service business.
Groundbreaking for Rubius Therapeutics - Smithfield, RI state,” Raimondo said. According toAppleseed, a third party economic analysis firm, the manufacturing facility planned by Rubius is projected to add $6.34 million in net revenue to the state over the 12-year commitment period and increase the state’s GDP by $28.1 million annually. “We are very pleased that Rubius Therapeutics has broken ground on its new advanced manufacturing facili-
ty,” said R.I. Secretary of Commerce Stefan Pryor. “Rubius joins companies such as Amgen, Johnson & Johnson, and EpiVax in our flourishing bioscience ecosystem. We congratulate Rubius on this milestone and look forward to the company’s success here.” Twenty-eight companies have relocated to Rhode Island or expanded their existing Rhode Island operations using the Qualified Jobs Tax Credit
Program. The state’s real estate investment programs are investing in 33 development projects that are creating approximately 8,000 construction jobs and injecting more than $2 billion of investment into Rhode Island. The project team includes Genesis Engineers and A/Z Corp. Rubius, based in Cambridge, Mass., plans to open the building in 2020.
In memory of Melanie Delman, president of Lila Delman Real Estate It is with a heavy heart that Lila Delman Real Estate announces Melanie Delman has passed away after a private, decade long battle with breast cancer. In her final days, Melanie was surrounded by close family and loved ones. Melanie was a sales visionary and an institution whose impact will be felt in the Rhode Island real estate industry for years to come. Those who have been fortunate enough to work closely with Melanie have lost a friend and an inspiring mentor. Melanie leaves behind a thriving and vibrant company that was a true source of strength for her during her courageous battle. Melanie’s spirit, along with that of her mother Lila, will forever be a part of the foundation of Lila Delman Real Estate. NEWPORT, RI
Melanie Delman Under the consultation of Melanie’s business partners, John Hodnett and Pamela Delman-Hodnett, a team of
top performing sales associates and sales managers, who worked closely with Melanie, will carry on her legacy by continuing to provide unparalleled service to luxury clientele. “Melanie and I have always believed that working collaboratively with skilled sales associates garners the best results for the growing needs of our clients,” said John Hodnett. “Her story will live on with the exceptional efforts of our seasoned sales team and Lila Delman Real Estate.” “Melanie had been in the battle of her life for years, and battling with the utmost strength and dignity,” said Melanie’s sister, Pamela Delman-Hodnett. “We will honor my sister’s memory by dedicating ourselves to continuing the work she loved so much.”
Rhode Island
Inside Cover B October 12 - 18, 2018
New England Real Estate Journal
Peter M. Scotti & Associates, Inc. Brokerage/appraisal/ManageMent A full Service Real Estate Company
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INDUSTRIAL FOR SALE 69 MACKLIN STREET CRANSTON, RI 11,832 SF single story masonry building on 26,000 SF of land. Full HVAC throughout, heavy power, loading dock, updated finishes. Parking for 25 cars, all utilities. Price: $775,000.00
OFFICE BUILDING FOR SALE 301 METRO CENTER BLVD WARWICK, RI 100% LEASE INVESTMENT PROPERTY 44,600 SF Class A suburban office building on 4.27 acres with substantial parking. Excellent access to interstate Rt. 95, Jefferson Blvd. and Green State Airport, superb location and visibility. Fully leased/100% occupancy with high quality tenants, 8% cap rate. Price: $6,500,000.00
FOR SALE OR LEASE COMMERCIAL/OFFICE CONDO 333 WESTMINSTER STREET PROVIDENCE, RI 3,400 SF office condo on 2nd floor of Moulton Building, fully renovated finishes and systems. Huge windows and high ceilings for great natural light and open studio concept. Located in Downtown Arts & Entertainment district. Price: $450,000.00
FOR SALE COMMERCIAL/OFFICE CONDO 521 S. MAIN STREET PROVIDENCE, RI 1,835 SF ground level commercial condo in Corliss Landing complex. Previous use dentist office, terrific location off highway in desirable downtown neighborhood, on site parking, full HVAC, all utilities, quality finishes. Priced: $295,000.00
INVESTMENT FOR SALE 3 PROPERTY PACKAGE, RI FISHER AUTOPART STORES 32 RESIDENTIAL CONDOMINIUMS 76% OF PROJECT 70 TURNER STREET WARWICK, RI 1,180 SF PER UNIT Two bed, two bath, tile baths, granite stainless kitchens. Average rent $1,700. Net income $320,000. Cap rate 5.75% Asking $7,000,000.00
Investment package includes 3 sites with a combined gross building area of 12,592 SF and 47,771 land area. Leases to Fisher Automotive, large regional retailer, annual gross rental income of $186,100, net income $142,000. Locations are 437 Central Ave. Pawtucket, RI, 150 Sandy Bottom Lane, Coventry, RI 2117 W Shore Rd., Warwick, RI. Price: $1,750,000.00
Peter M. Scotti & Associates, Inc. • 401-421-8888 403 South Main Street, Providence, Rhode Island 02903 Visit our web page at www.scottirealtyri.com
Rhode Island
nerej.com
October 12 - 18, 2018 1B
Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance
146 WESTMINSTER STREET, 2ND FLOOR, PROVIDENCE, RI 02903 401-273-1980 WWW.HAYESSHERRY.COM
Northwoods
1301 Atwood Avenue, Johnston, Rhode Island
OneMetroCenter
1 Metro Center Boulevard, Warwick, Rhode Island
341,010 SF of highly efficient office
constructed Class A office
space on landscaped campus setting
building
Expected Gold LEED Certification
Ideal visibility immediately off the
Large unobstructed floor plates
Airport Connector and I-95
Full service cafeteria, ATM, showers/
North/South
locker room & exercise facility in the
building
Available
Available
for
CONTACT:
Lease
Pete Hayes Karl Sherry Matt Fair 401-273-1980
40 Westminster Street Providence, Rhode Island
for
Lease 1 Crownmark Drive Lincoln, Rhode Island
Located in heart of Providence’s
8,248 SF finished office; 1,276 SF
Westminster & Weybosset Streets Parking available on-site
24-hour on-site security
unfinished office space; 1,856 SF 2nd story mezzanine
Available
for
Up to 24,000 SF
CONTACT: Karl Sherry or Matt Fair 401-273-1980
[email protected]/
[email protected]
for
Lease
500 Exchange Street Providence, Rhode Island
12-story, 317,000 SF Class A office building
Up to 40,000 SF available for lease
Large windows for spectacular view of On-site parking garage
Short walk to Downtown Providence and
Up to 40,000 SF
for
Lease
CONTACT: Karl Sherry or Matt Fair 401-273-1980
[email protected]/
[email protected]
Parking - 152 cars CONTACT: Jeff Finan 401-273-1980
[email protected]
East Providence, Rhode Island
4-story, 72,000 SF Class A office building
Up to 18,000 SF Office/Medical space on 4th floor (can be subdivided)
Immediate access to Route 195
On-site parking - 4/1,000 SF leased
Place Mall Available immediately
18’ - 26’ clear ceiling height
950 Warren Avenue
adjacent to train station and Providence
Sale or Lease
the State House and downtown skyline
25,700 SF Warehouse; 32,969 SF Manufacturing/Warehouse;
Financial District at intersection of
Up to 70,049 SF Manufacturing/ Warehouse Space
1,800 - 24,000 SF available
Available immediately
Available Third Qtr. 2015 CONTACT: Pete Hayes 401-273-1980
[email protected]
266,000 SF Class A office building
Custom office suites ideal for corporate headquarters
Ample parking on-site
100,000 - 125,000 SF newly
2 miles to Providence
Available April 1, 2017
Available
for
Lease
CONTACT: Karl Sherry 401-273-1980
[email protected]
Rhode Island
2B October 12 - 18, 2018
FOR LEASE Bristol, RI
Retail / Storefront / Office
The Bristol Shopping Center Hope St. (Rt. 114) & Gooding Ave. Bristol, RI Established 1959
2 Acre PAD Site 3,000 SF End Cap Spacious Parking High Traffic Intersection Office / Retail
Gooding Realty Corp. Tel. 401-253-3190
Fax. 401-253-3494
[email protected]
Commercial Proof & Residential NE NY Tel: 781-878-4540 REal EstatE JouRNal
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New England Real Estate Journal
PROJECT TEAM INCLUDES GILBANE BUILDING AND NORTHSTAR
Procaccianti Cos. tops off 176-room $60m Residence Inn in Providence Governor Gina Raimondo, mayor Jorge Elorza, labor, business and community leaders joined executives from the Procaccianti Companies and Gilbane Building in downtown to celebrate the “topping off ” of the new 9-story hotel marking the completion of construction of the steel structure. Leaders signaled the construction crew to raise the ceremonial tree, an ancient tradition, marking the installation of the building’s highest beam. “The new Residence Inn is a physical symbol of how far Rhode Island has come in the last four years, and I’m thrilled to celebrate its topping off today,” said governor Raimondo. The new Residence Inn Providence is part of the Marriott family of hotels. The hotel will offer 176 rooms, with each suite having separate living and sleeping areas. Standing more than 100 feet tall, the hotel will include a street-accessible restaurant and retail which will be open to the public. The development effort has been championed by the team at the Procaccianti Companies, a nationally-recognized privately-held real estate firm headquartered in Cranston. Procaccianti Companies have engaged Northstar Project & Real Estate Services to serve as project manager and Gilbane Building Co. as the general contractor for the $60 million project. The project is supported through the Rhode Island Commerce Corporation’s Rebuild Rhode Island andTax Increment Financing programs. Other PROVIDENCE, RI
Shown (from left) are: Greg Vickowski, Procaccianti Companies; governor Raimondo; and Mayor Elorza project partners include Marriott Corp., Country Bank, Harbor One Bank,Aztec Group, BlueDog Capital,
Posner Group, DiPrete Engineering, Vision 3 Architects and Local 271 Building Trades.
Home Loan promotes Burrell for Ocean Capital WARWICK, RI Jarred Burrell has been
promoted to vice president, commercial lending for Ocean Capital, the commercial lending division of Home Loan Investment Bank. In this new role, he oversees all aspects of loan origination, loan Jarred Burrell servicing and collections. “Jarred is a rising star at Home Loan,” said Brian Murphy, chairman
and CEO. “From the start, his business acumen, work ethic and passion for the business have been factors in Ocean Capital’s success. I’m confident that he is the right person to run our commercial lending business, and I look forward to seeing the division grow under his leadership.” Burrell joined Ocean Capital in 2011 as a loan analyst. Over the next seven years he moved through the organization, with promotions to portfolio analyst, credit analyst/ underwriter, and most recently, commercial lending manager.
nerej.com
Rhode Island
October 12 - 18, 2018 3B
365 Eddy Street, Penthouse Providence, RI 02903 877-751-3201 (toll free) 401-751-2871 (fax)
OFFICE/COMMERCIAL - LEASE: Pawtucket, 600’-25,000’ high end mill renovation, artistic space, high ceilings, convenient location.
RESTAURANT/COMMERCIAL - SALE/ LEASE: Providence, 4,900’-8,660’ fully equipped restaurant along the Providence River. Unique opportunity & huge potential.
OFFICE - SALE/LEASE: Warwick, up to 3,322’ subdivide for rental income, immediate highway access to I-95 N&S, on-site parking.
DEVELOPMENT SITE - SALE: Newport, 33,198’ lot accessed via Thames Street, in the heart of Newport. Significant price reduction.
RETAIL/OFFICE - LEASE: Providence, 2,15012,000’, beautiful mixed use development, easily accessible, surrounded by countless area amenities.
INDUSTRIAL - SALE/LEASE: Pawtucket, 26,140’ with 2 docks and drive-in door. 4,400’ office on 1.6 AC, near I-95.
INDUSTRIAL - SALE: Cranston, 38,240 sf manufacturing/warehouse facility on 3.1 acres. 3 docks, 1 ramp drive-in door, ceiling 14’ clear under truss, convenient hwy access.
OFFICE - LEASE: Providence, 7,148’ single story, subdividable, mix of open space & private offices, private parking for 15+ cars, corner location.
OFFICE - SALE: Providence, 4,550’. Zoned B2, perfect for medical or conversion to lawyer, insurance, etc. On-site parking for up to 25 cars.
OFFICE - LEASE: Warwick, Up to 25,000’, open floor plan, large contiguous space, ample onsite parking, easy access to TF Green Airport, Amtrak, Routes 2, 4 and I-95.
OFFICE - LEASE: West Warwick, 33,000’ first class office space w/I-95 visibility in a premier business park. Also for Sale.
INDUSTRIAL - SALE/LEASE: Providence, 76,660’ fully AC w/loading docks, 15,200’ office space, on 5.6 ac, heavy power, immediate highway access.
RETAIL/RESTAURANT - LEASE: Providence, 1,800’ first floor space in the heart of Providence’s financial district, large windows, walking distance to downtown amenities.
OFFICE - SALE: Providence, 23,168’ two-level brick building in the Jewelry District, ideal for adaptive reuse development, includes parking lot.
OFFICE - LEASE: Providence, First Class contiguous space 1,000 to 16,000 RSF, in Financial District, ample parking, immediate availability.
INDUSTRIAL - SALE: Cranston, 51,215’ manufacturing facility on 2.6 acres. (3) 8’x8’ dock high doors. Ceiling heights: 12’, 14’ (deck), Air-conditioned. Easy highway access.
COMMERCIAL - SALE: North Providence, 13,700 SF, corner location with 200’ frontage, open floor plan, large overhead door, easy access to Route 146. Expansion possible.
LAND - SALE: Portsmouth, 11 acre flat, cleared development ready site zoned for mixed use. West main road is located just 5 miles to the Mount Hope Bridge and 8 miles from Newport.
OFFICE - SALE/LEASE: North Smithfield, 85,632’ office & light industrial, class 100/10,000 clean rooms, extensive parking, industrial park setting, convenient highway access .
RESTAURANT/OFFICE - SALE: Providence, 6,500’, 2 story Federal Hill icon, 2,250’ first floor, 2,118’ second floor, 2,118’ lower level, two additional parking lots included.
401-751-3200 mgcommercial.com
NE NY Tel: 781-878-4540
Rhode Island
4B October 12 - 18, 2018
New England Real Estate Journal
DESIGN BY THE ARCHITECTURAL TEAM, INC.
Waldorf Capital Ptrs. breaks ground on $33 million Chestnut Commons The Architectural Team, Inc. (TAT), experts in urban revitalization and mixed-use development, was selected as architect for a major new mixed-use community in downtown. Called Chestnut Commons, the six-story, $33 million project is being developed by Waldorf Capital Partners, LLC, and reimagines a vacant lot formerly controlled by the Interstate Highway Commission. Located near Johnson & Wales University at the crossroads of downtown and the city’s Innovation and Design District, TAT’s design for the 116,000 s/f Chestnut Commons creates 92 one and two-bedroom apartment homes, along with over 5,000 s/f of street-level retail and restaurant area and 5,000 s/f of publicly accessible green space. Amenities include a fitness center, resident-accessible roof PROVIDENCE, RI
terraces, and covered parking. “With an inviting street presence, commercial space, and bright, airy apartment homes, the design for Chestnut Commons aims to create a contextual, yet modern development that enriches the greater Providence community,” said Mitchell Lowe, AIA, NCARB, LEED AP,
project manager at TAT. A groundbreaking was held September 28th, and was attended by representatives from the city and the design and development teams. It’s expected to create about 150 construction jobs and roughly 30 permanent jobs.
Mills joins DiPrete as project engineer DiPrete Engineering has named its newest team member and project engineer, Skyler Mills. A licensed professional engineer in both R.I. and Mass., Mills has worked as a senior engineer for Turino Group, The Maguire Group, Skyler Mills and Northeast Engineers & Consultants, Inc. Mills has also worked as an adjunct professor at the University of Rhode Island teaching AutoCAD and drafting for civil engineers. “Skyler has proven a strong work ethic throughout his career,” said Eric Prive, senior project manager at DiPrete Engineering. “His extensive industry experience will be an added resource to our team. We are very happy to have him on board.” CRANSTON, RI
COMMERCIAL PROPERTIES
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FROM THE COAST TO THE CAPITAL... NEWPORT
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855.789. Lila (5452)
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Rhode Island
nerej.com
October 12 - 18, 2018 5B
333 NIANTIC AVE. PROVIDENCE/CRANSTON LINE, RI WAREHOUSE / OFFICE SPACE
♦ 26,000 SQ FT split between 2 floors ♦ Overhead door
♦ $4 NNN ♦ Easy access to Rt 10
Population:
1 Mile: 26,534 3 Miles: 198,125 5 Miles: 376,009
Total Households: 1 Mile: 9,682 3 Miles: 72,644 5 Miles: 142,877
Average Household Income:
1 Mile: $57,143 3 Miles: $58,430 5 Miles: $69,663
For more information or to arrange a showing, please contact: Eric Szczepkowski -
[email protected]
COAST REALTY One Realty Way, East Providence, RI 02914
(401) 438-1000 (Office) (617) 454-4460 (Cell)
NE NY Tel: 781-878-4540
Rhode Island
6B October 12 - 18, 2018
South Kingstown, RI Office Space
New England Real Estate Journal
Mayor Donald Grebien
Pawtucket City Hall 137 Roosevelt Avenue, Pawtucket, RI 02860 401-728-0500 Ext. 281
www.pawtucketri.com
Pawtucket expands loan program for small businesses $250,000 South Kingstown Office Park units close to South County Hospital. Perfect for a start-up or thriving practice. Two large sunny offices and an additional five smaller rooms with reception/work area. The office park is nicely landscaped and has ample parking.
R. D. Denelle and Company, Inc. Realtors
2935 Tower Hill Road, Box 130, South Kingstown, RI 02880 Contact Christie Denelle Creamer,
[email protected] office: 401-783-7777 cell: 401-573-1633 www.denelle.com
PROOF REALDEVELOPMENT ESTATE JOURNAL RHODE ISLAND New Proof Proof Approved Changes OPPORTUNITY Size: 2x4 Section: crop 2”
NE NY Tel: 781-878-4540
“Winsor Farm” From: Run Date: 06/00/18
158 Acres Northern Rhode Island (near new Citizens Corp.)
Whether you are the owner of an existing Pawtucket business looking to expand, someone who is looking to locate or relocate your business in our city, we want to be a partner in your success. It is our goal to provide you with customized service of the highest quality. Pawtucket, the birthplace of America’s Industrial Revolution, is committed to promoting smart, responsible growth within our city that respects our rich history of economic innovation, cultural diversity and the unique character of our community. We are truly here to help you however we can. Commerce director Jeanne Boyle and her team are always just a phone call, e-mail or text message away. Pawtucket is home to a vibrant business community which also takes an active role throughout our community, whether by individual initiatives or through public-private partnerships we enjoy such as with the Pawtucket Foundation. These leaders, from hundreds of diversified industries, possess a wealth of knowledge and a keen willingness to help other private sector ventures succeed. Responding to our small business community, the city’s Pawtucket Business Development Corporation (PBDC) has expanded its commercial loan programs, which are available
to new and expanding Pawtucket businesses. Under the new programs, the PBDC will be expanding loan opportunities to more small and medium business owners looking to expand or establish themselves in Pawtucket, including special loans for start-up businesses,
Pawtucket, the birthplace of America’s Industrial Revolution, is committed to promoting smart, responsible growth within our city that respects our rich history of economic innovation, cultural diversity and the unique character of our community. creative economy businesses, businesses owned by women and businesses owned by minorities. The new loan programs also include considerations for businesses looking to open or expand into the downtown or designated “Growth Centers” around the City of Pawtucket. Special considerations are also being made for businesses which will bring a specified minimum number of full-time jobs to the city. These new loan programs will help make the dream of opening or
expanding a business a reality for many in Pawtucket. The expansion of this loan program by the PBDC will continue to drive economic development in our city. These new programs also feature low interest rates, with annual rates as low as 2%. This is significantly lower than the PBDC’s previous standard lending rate of prime rate plus 1%.The PBDC looks forward to continuing to work in partnership with local banks in jump-starting the creation of new jobs and exciting new businesses in Pawtucket. We have created this page to provide details about PBDC’s new loan program. You will also find quick and convenient access to the numerous city resources you may need – from the permitting process to bidding on city projects, from licensing to tax incentives and a host of other ways we can be there for you. For small and medium businesses interested in learning more, please visit: www.pawtucketri.com/pbdc-loan-program. For more details about Pawtucket’s economic development incentives, contact Jeanne Boyle.
Donald Grebien is mayor of the City of Pawtucket, R.I.
PAWTUCKET/CENTRAL FALLS Commuter Rail Station Project
• Residential and/or continuing care development • Planned mixed-use district, golf, solar, flexible density • Easy access to Boston, Providence, NY & Rt. 295/95 • Includes two historic homes, fields, woodlands, privacy, sewer & water available • Development plans upon request
Future Development Potential Around Pawtucket/Central Falls Commuter Rail Station
Over 160 acres, includes 2 million square feet of unique, historic mill buildings, and the potential to more than double that square footage with new construction. PAWTUCKET OFFERS ...
FLAGSHIP Ned Caswell
401-741-4044
[email protected] www.winsorfarmri.com
NE NY Tel: 781-878-4540
• Easy access to I-95, 195, 295, and 495 • 1 mile to Providence • 45 minutes to Boston • Thriving Arts and Creative Sector
• Competitive Property Prices • Competitive Business Loan Terms & Rates • Live-Work Spaces and Affordable Rents • Close to Major RI Colleges & Universities
• Standardized Property Tax Stabilization Agreements • Available Skilled Workforce • Streamlined Permitting
CONTACT: Jeanne Boyle Commerce Director
(401) 728-0500 x432
[email protected] www.pawtucketri.com
Rhode Island
nerej.com
October 12 - 18, 2018 7B
Coldwell Banker Commercial
has been servicing the business needs of our customers and clients since 1906. To view our inventory visit
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WWW.CBCNRT.COM
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FOR SALE: PAWTUCKET – Well maintained office bldg. currently being used as a “Spine Care Center” (7 treatment rooms, gym area - and more). Bldg can be subdivided into 3 units with 3 entrances and separate utilities. Previous tenant medical, paying $18.00’ Triple Net. Other uses dental, physical therapy, lawyer office, accounting, financial or retail. Owner made many upgrades totaling $100k. Call Mike Foncellino at 401-258-2332
INDUSTRIAL FOR LEASE: WRENTHAM MASS - Coming soon, being built, warehouse space on highly traveled Rt. 1 in Wrentham MA, close to 95 & 495. This bldg. #3 is new construction with 7500’ of open space, 18’ ceiling height 1:12 gable, 12’ wide, 14’ high, ground level overhead doors in rear of bldg. with 6 office fronts. Can subdivide approx. 1250’ ea. Call Mike Foncellino at 401-258-2332
FOR SALE: TAUNTON, MA - Building & well established restaurant for sale. Located in high traffic downtown, Taunton. On site potential parking. Municipal garage & street parking also available. Other uses, convenience store, medical, legal, professional, chiropractor, dentist & physical therapy. Hospital nearby. Included; licenses (liquor & entertainment) equipment & fixtures. Call Mike Foncellino at 401-258-2332
S INDUSTRIAL PROPERTY FOR SALE: PROVIDENCE- Building consists of two floors the first floor is 5290 square feet which includes a small office and restroom. Also on first floor is a 1000 square foot freezer and a 800 square foot walk in cooler. The second floor is 3843 square feet and has a unisex bathroom. The building also has a freight elevator. Call Michael Saccoccio 401-486-2911
OFFICE FOR SALE: CUMBERLAND - Cape style house zoned C1, on 19,000 sf lot, on high traffic Mendon Rd. Easy access to I-295. Ideal office conversion with town approvals. Newer roof and heating system and ample parking. Listed below assessed value. Investors take note. Ideal SFM with 4 bedrooms for rental. Call Mike Foncellino 401-258-2332
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OFFICE FOR SALE: CUMBERLAND - Well maintained office bldg, sub-divided into 3 units with separate utilities. Previous use, dental office. Located on large lot for possible expansion other uses, physical therapy, chiropractor, dental, medical, legal & accounting. Full basement. To be connected to sewer. Call Mike Foncellino 401-258-2332
FOR SALE: WEST WARWICK - Well-known landmark building in the Heart of Downtown West Warwick formerly known as J J Newberry. Total building not including the basement is 16,757 SF - 9558 finished office space, mezzanine storage at 1770 SF, 2 floors of high cube at 2714 SF one each floor. Abuts municipal parking lot that serves as parking spaces for the building. Substantial additional land available. Call Michael Saccoccio at 401-486-2911
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FOR SALE: RIVERSIDE - Retail/office bldg. 2400’ (GBA 4800’). Previously daycare, plus 2 family income producing house situated on 51,000’ lot. Ideal for daycare, retail, convenience store, food service, office, lawyer, financial, medical, dental, chiropractor & church groups. Both bldgs with many upgrades. Call Mike Foncellino at 401-258-2332
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FOR SALE: WARWICK - Well known, stand alone signature building. 15,003 sf, 3 levels, main floor is 9,736 sf, second floor is 5,267 sf, and finished lower level is 6,152 sf. Building has 2 elevators, service and passenger. 1.07 acre land. Easy highway access. Call Michael Saccoccio at 401-486-2911
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OFFICE CONDOMINIUM FOR SALE; RIVERSIDE - This 435 sf office condominium is located on Wampanoag Trail in East Providence. Ideal layout for small medical or professional use. Three private offices with waiting room/ reception area. Owner has recently renovated this unit and it is in turnkey condition and has recently installed new heat pump for a/c and heat. Building has an elevator. Call Michael Saccoccio at 401-486-2911
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FOR SALE: CRANSTON- Present Use Auto/Lube & Repairs, 5 Bays and 2 Maintenance Pits, Ample parking High Traffic rd, other uses, franchises, Muffler, Convenience Store, retail. Also includes 2 garage maintenance “Pits” Call Mike Foncellino 401-258-1102
RETAIL – COMMERCIAL FOR SALE: PROVIDENCE – Bldg & Auto Sales Business for sale, well maintained bldg. Office space & garage space with overhead door. Lift & compressor included. Other uses, dental physical therapy, legal, financial, chiropractor. Ample parking, large lot. Also available for lease! Call Mike Foncellino 401-258-2332
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FOR SALE: CRANSTON - Great investment property, income producing. 9% cap rate, medical office bldg., high traffic rd., ample parking, elevator, fire coded, handicap access. Other uses, legal accountant, financial. Also, ideal for owner occupied, space available on 1st fl., 1200’ to 2400’. Call Mike Foncellino 401-258-2332
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SPECIAL PURPOSE FOR SALE-: CUMBERLAND-Present use, Knights of Columbus Hall, Assembly Meeting Place. Lower Level, Kitchen, Meeting area and Pool Room. Upper floor open space, high ceilings & Bar Area, For Rent, Weddings Anniversaries etc. Fire Coded, Air conditioned, Newer Roof. Call Mike Foncellino 401-258-2332
SWANSEA: RETAIL COMMERCIAL FOR SALE - Bldg. & well-established business. Turn key restaurant/tavern, operating with liquor license, entertainment & pool table license. Updated grease traps, electric, central air, septic and fire alarm. Walk in freezer box & SF house with income. Other uses convenience store, sandwich shop, breakfast and any food service business. Call Mike Foncellino 401-258-1102
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OFFICE FOR SALE: CRANSTON – Well maintained office bldg. on high traffic rd., with rental income. New roof & mechanicals & finished basement. Present use office for professional design co. Other uses, lawyer, accountant, real estate, medical, dental, chiropractor. Ample off st. parking & street parking. 3 floors of remodeled office space and a bathroom on each floor. Call Mike Foncellino at 401-258-2332
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FOR SALE: WARWICK - 2 landmark bldgs. Well maintained, on large 1/2 acre lot, sold as package. Well established sandwich shop, with equipment in business for 40 years, included in sale. The 2nd bldg is set up as a bar/tavern. Fire coded, patio for outside dining, office & bathroom on 2nd fl. Possible mixed use conversion with town approval. Ample parking. Call Mike Foncellino 401-258-1102
BARRINGTON
280 County Rd Barrington, RI 02806
BRISTOL
FOR SALE: PAWTUCKET - Well maintained medical office condo bldg off I-95. Present use dental office. Other uses, financial, legal professional. Ample parking, Unit #4. Call Mike Foncellino 401-258-2332
495 Hope Street Bristol, RI 02809
CUMBERLAND
1985 Mendon Rd Cumberland, RI 02864
BUSINESS OPPORTUNITY FOR SALE: WARWICK - Business is a long time established business in a well-populated location. Call Michael Saccoccio for details 401-486-2911
E. GREENWICH
527 Main Street E. Greenwich, RI 02818
NE NY Tel: 781-878-4540
RETAIL COMMERCIAL FOR SALE: WARWICK – Great location. Near the corner of Warwick Avenue and Post Road. 1,552 sf masonry building has potential for many uses. Zoned general business. Highly visible location. Overhead door, clean building. Call Michael Saccoccio for details 401-486-2911
NEWPORT
38 Washington Square Newport, RI 02840
WARWICK
831 Bald Hill Road Warwick, RI 02886
Rhode Island
8B October 12 - 18, 2018
PRIME OFFICE SPACE AVAILABLE
EAST PROVIDENCE, RHODE ISLAND
Mayor Joseph Solomon
New England Real Estate Journal
Warwick Tourism Culture and Development Dept. Karen Jedson, director 401-738-2000 x6402
www.movetowarwickri.com
A recap of the great advances Warwick has made this year Class A office spaces with great visibility from I-195! Various Sized Units Available. 1,800-2,500 SF For more information or to arrange a showing, please contact:
Eric SzczEpkowSki
[email protected]
Coast Realty
One Realty Way, East Providence, RI 02914 (401) 438-1000 (P) (401) 438-1060 (F)
NY Tel: 781-878-4540 PROOF NE REAL ESTATE JOURNAL Changes
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Section: RI From: Karen Dowell x254
[email protected] Run Date: 3-11
Happy fall! I hope you have been enjoying the slightly cooler weather and the change of seasons. After the hot and humid weather this summer brought to the Ocean State, I know I’m not alone when I say that I’m looking forward to the coolness that autumn brings. As the clock winds down on 2018 and with the busiest time of year still ahead, it seems fitting to recap many of the great advances the city has made, chief among them is the improved roadways and new businesses the city has welcomed. Like the season itself, Warwick is on the move, changing,
progressing and becoming a whole new version of itself. Looking around the city, one of the most notable changes that residents and visitors will see are the improved conditions of many of our roads. The paving program, which officially launched back in July, continues to move full steam ahead, addressing our most in-need streets citywide. With freshly paved roadways, both on city and state streets, revitalized bridges and modernized infrastructure, Warwick and Rhode Island as a whole can continue to compete on a national level for business devel-
opment, travel and tourism, and so much more. And with welcoming better roadways, Warwick also continues to welcome new businesses. As restoration of the Pontiac Mill continues, theApponaug Brewing Company has officially opened their doors. With a heavy focus on local partnerships, Apponaug Brewing makes several of their own beers in-house. Referring to themselves as a Third Place, they consider themselves an essential refuge away from the daily hustle and bustle of work and home responsibilities. Striving to create an eclectic atmosphere, you can experience one of the six locally farmed drafts, an assortment of libations and farm-to -table food all situated inside of the historic building which dates back to the 1800s. Outside, guests can enjoy fire pits and games of corn hole, all while overlooking the serene scenes of the Pawtuxet River. The rest of the mill continues to take shape, as well. With Phase 1 of the residential units nearly complete, soon 72 apartments will be available to those who want to make the historic landmark their home. Ranging in price from $1,200 for a studio apartment to $2,200 for a two bedroom, developers are hoping to appeal to a wide variety of residents. From couples looking to downsize, to young professionals looking for a cool, industrial space to call home, when fully built out, the mill will have 137 units for rent. With several smaller, freestanding dwellings on the property some will be converted into office and management spaces, while the others will be converted into spaces for small businesses.Apart from theApponaug Brewing Company and the residences, there will also be 100,000 s/f of commercial space available. As the landscape of the city continues to grow and change like the seasons around us, it’s easy to be excited for all that the end of the year has to offer. As we round the corner to the end of 2018, there are still many family friendly and fall inspired activities for people of every age to enjoy. From horseback riding through Goddard Park, to apple and pumpkin picking, the corn maze at Morris Farms, cheering on our city’s sports teams, and holiday bazaars, there’s no shortage of autumn inspired activities to do in Warwick!
Joseph Solomon is the mayor of Warwick.
Rhode Island
nerej.com
October 12 - 18, 2018 9B
180 WESTMINSTER STREET PROVIDENCE, RI 02903 PHONE: (401) 454-4660 www.capstone-properties.com
Providing real estate services for today’s world SELECT COMPLETED TRANSACTIONS
CAPSTONE PROPERTIES REPRESENTED DENALI OUTDOOR ON 10,800 SF RETAIL TRANSACTION ON THAYER ST. PROVIDENCE, RI
CAPSTONE PROPERTIES SOLD A 14,434’ BUILDING LOCATED AT 71-85 RICHMOND STREET, PROVIDENCE, RI FOR $2 MILLION
CAPSTONE PROPERTIES REPRESENTED CAMIN CARGO IN IT’S RELOCATION FROM BOSTON TO RHODE ISLAND
PROPERTY LISTING PREVIEWS
2 ACRES FOR LAND LEASE ON THE ROTARY AT THE ENTRANCE TO THE NEW TWIN RIVER CASINO AND HOTEL. Call Chris
FOR LEASE - OFFICE SPACE 51 JEFFERSON BLVD. WARWICK, RI 4,500 SF, TOP FLOOR Call Neil
EAST PROVIDENCE, AMPLE FREE PARKING IN CLOSE PROXIMITY TO SHOPPING AND HIGHWAYS OWNER WANTS TO DO DEALS! Call Chris
FOR SALE/LEASE FLEX SPACE NEAR ROUTE 95 RAMP N/S 12,200 SQUARE FEET FULL A/C 2 SEPARATE UNITS Call Neil
GET ENERGIZED BY URBAN LOFT STYLE OFFICES UP TO 10,000 SF FOR LEASE AT 180 WESTMINSTER ST IN DOWNTOWN PROVIDENCE, JOIN TD BANK Call Chris
FOR SALE OR LEASE 120 LAMBERT LIND HIGHWAY WARWICK, RHODE ISLAND 18,815 SF, 80 CAR PARKING NEAR WARWICK MALL Call Neil
FOR SALE INDUSTRIAL BUILDING 21 VENTURA DRIVE, DARTMOUTH, MA 13,850’ 1.04 ACRES 1 MILE TO ROUTE 195 Call Neil
FALL RIVER - FOR SALE 7,900 SF STAND ALONE BUILDING ON 1/2 ACRE AT A SIGNALIZED INTERSECTION ADJACENT TO STOP AND SHOP Call Chris
PAWTUCKET - FOR SALE OR LEASE 42,000 SF, WAREHOUSE WITH DISPLAY AND RETAIL AREAS, FORMERLY AN ELECTRICAL SUPPLY COMPANY Call Chris
FAIRGROUNDS ROAD WEST KINGSTON, RI 13.8 ACRES, ZONED INDUSTRIAL 1 MILE TO UNIVERSITY OF RHODE ISLAND Call Neil
2,600 SF AVAILABLE IN MYLES STANDISH PARK TAUNTON: OFFICE/FLEX W/LOADING DIRECTLY ACROSS FROM HOLIDAY INN Call Chris
288 THAYER ST. PROVIDENCE FOR LEASE. 686 SF AVAILABLE FOR SERVICE OR RETAILER Call Chris
Chris Greenman, Principal Broker
[email protected] 401-454-4660 x324
CAPSTONE PROPERTIES Capstone Properties represented Dyvit a division of RPM International in leasing Capstone Properties represented Dyvit a division of RPM International in leasing REPRESENTED DRYVIT IN LEASING 120,823 square feet of manufacturing space located at 200 Frenchtown Road, North Kingstown, 120,823 square feet of manufacturing space located at 200 Frenchtown Road, North Kingsto 120,823 SF OF MANUFACTURING Island. Island. SPACE AT 200 FRENCHTOWN RD. NORTH KINGSTOWN, RI
Neil Amper, Broker
[email protected] 401-454-4660 x322
Rhode Island
10B October 12 - 18, 2018
New England Real Estate Journal
25 SLATER RD. AND 875 PONTIAC AVE. IN CRANSTON
Sweeney Real Estate & Appraisal brokers two sales totaling $2.24m
For Lease - Woonsocket, RI
CRANSTON, RI Alves Properties, LLC
Diamond Hill Commons, 1551 Diamond Hill Rd., Woonsocket. 2,960 sf of retail, medical or office space. Join Little Caesars, Bank of America and Armed Forces Career Center. Offered at $16.68/sf annual - triple net.
Marc A. Cote
Commercial Division ext. 204
600 Cass Ave., Woonsocket, RI 02895-4729 Email:
[email protected].
401-766-2200 x204
View this listing at www.loopnet.com - Property ID: 13753957
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875 Pontiac Avenue - Cranston, RI
NE NY Tel: 781-878-4540 REAL ESTATE JOURNAL
Cranston, RI
Proof Approved
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[email protected]
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sold 25 Slater Rd. to G3 Slater Road, LLC for $1.75 million. The property is a 25,548 s/f industrial building with office space in the Howard Industrial Park on under 2 acres. The sale was b r o k e r e d by Thomas Sweeney Thomas Sweeney and Kevin Casey of Sweeney Real Estate & Appraisal. In another transaction, Joseph DeSanto, Jr. & Patricia Leff sold 875 Pontiac Ave. in Cranston to SEO Realty, LLC for $490,050. The property, previously used for a bank branch, is 1,960 s/f on 13,401 s/f and is less than a mile from the Garden City Shopping Plaza. The new owners plan to use the property
Knightsville area 1850 Cranston Street
Run Date: 12-10
4,560 SF Commercial Building 2 Units 13,128 SF Parcel
Warwick, RI 1553 Warwick Avenue, Warwick, RI 1,55 Acres Next to Potential New Car Wash Corner Airport Road and Warwick Avenue All Utilities
Cranston, RI
for a medical use. Sweeney represented the sellers, and Janet Scaralia of Albert Realtors represented the buyer. Sweeney Real Estate &Appraisal is a full-service commercial real estate brokerage and appraisal Kevin Casey firm. They work with local, regional and national clients in all business categories.
Mitchell of MG Comm’l. completes $2.325m sale Leeds Mitchell IV, executive vice president of MG Commercial Real Estate completed the $2.325 million sale of 146 Clifford St., located in the Jewelry District. The building was purchased by Loft LLC, who Leeds Mitchell will occupy a portion of the building and lease out the balance. PROVIDENCE, RI
725 Reservoir Avenue #204 Medical Space 1,616 SF. 3 exam rooms, waiting area, full bathroom with shower, plus 1/2 bath, 2 offices and administrators area. Bonus lower level storage space For Sale or For Lease (Near Garden City Shopping Area) Check out website for over 35 exclusive listings AlbertRealtorsCommercial.com
ALBERT REALTORS COMMERCIAL DIVISION Trusted Since 1963
1050 Reservoir Ave., Cranston, RI 02910 • Albert Scaralia, Broker/Owner 401.944.8008 ext.712 •
[email protected]
146 Clifford St. is a 15,000 s/f 2-story office building with 56 onsite parking spaces. Mitchell was the sole broker. MG Commercial Real Estate is a full-service commercial real estate brokerage company. They sell and lease commercial real estate, and consult for a wide range of clients including landlords, tenants, individuals, investors and institutions across the country and around the world.
Rhode Island
nerej.com
Keller Williams Commercial on the Move in New Location 2 Charles St. Providence, RI 3 C Stop by and say Hi!!!
This space is available 7%
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for a new
October 12 - 18, 2018 11B
We are actively looking to recruit and grow our division, if you are interested in making the move to Commercial or if you are currently a Commercial broker and not happy where you are ... 100% Commissions Possible Contact me today! / Mike (401) 523-9555 l
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Call for free analysis of your commercial/ multi property Mike @ (401) 523-9555
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CUMBERLAND: Bar/Lounge with two units and a separate single family lot. Offered at $449,000. Call Mike (401) 523-9555.
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WEST WARWICK: Prime 4 unit with good income. Offered at $299,000. Call Brian (401) 499-3568.
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PROVIDENCE: Prime real estate for franchise business. Bank, Restaurant, etc. Offered at $425,000. Call Oteevan (401) 548-2351.
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WARREN: Prime assisted living home in great community location. Good cash flow. Offered at $795,000. Call Mike (401) 523-9555.
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BOURNE, MA: Profitable established restaurant with real estate. Offered at $785,000. Call Steve (401) 269-1101.
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PROVIDENCE (Elwood): Class A 12 unit and Class C+ 9 unit package. Offered at $1,800,000. Call Mike (401) 523-9555.
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NORTH PROVIDENCE: Turn Key business and building for sale on busy Smith St. Building built 3 years ago. Call Cindy Corkum (401) 439-630X
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WOONSOCKET: 700 SF located in very busy plaza between a major RI bank and popular restaurant that serves oriental cuisine. Rent is $1200 per month NNN. Space is available immediately. Call xxxx (401) 473-5359 and Bob (401) 439-0672.
NORTH ATTLEBORO (Washington St.): Class A office space for lease. High traffic. 2,400 SF - 4,800 SF. Offered at $18 NNN. Call Mike (401) 523-9555.
JOHNSTON: Class A executive office good parking. On Hartford Ave. high traffic. Offered for sale at $285,000. Call Mike (401) 523-9555. l
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CRANSTON: (Rolfe Sq.) 8,178 SF of street retail available. Will sub-divide offered $11 SF. Call Annie (401) 474-5952.
More Properties at www.elitecommercial.org
PAWTUCKET: Webster St. package of multifamily investments. Offered at $975,000. Call Dave (401) 644-2150. e bl la i a w av o
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NORTH PROVIDENCE: (Mineral Spring) Prime retail office space from 680 to 2040 SF available. High traffic location next to Lowell’s. Call Mike for more info Mike (401) 523-9555.
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WARWICK (Metro Center): 3 Class A office condos for sale. 1,200 SF - 1,800 SF will sell as package or individually. Looking for offers. Call Mike (401) 523-9555.
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PROVIDENCE: Prime 4,240 SF building, with extra buildable area. 21,344 SF lot. Good for drive-thru location. High traffic road on 95 on ramp. Investment 7.3 CAP. Offered at $775,000. Call Mike at (401) 523-9555.
Michael A. Alves | NE REGIONAL COMMERCIAL DIRECTOR | KW Realty
Rhode Island
12B October 12 - 18, 2018
Managing Director Steven King
(401) 435-6101 www.jjcardosi.com
Trades we perform:
• Site Work • Concrete foundations & form work • Carpentry — rough & finish • Framing • Doors & Windows • Demolition • Preparation for subtrades
• Design/Build Projects • Construction Management • Coordination of Subtrades • Facilities Renovations • Pre-Engineered Steel Buildings
www.quonset.com
Quonset Business Park is not only Rhode Island’s leading engine of economic development and job growth, but it also hosts the state’s only public port, the Port of Davisville. A top ten auto importer in North America and gateway to markets throughout Southern New England, the Port has seen unprecedented growth in recent months. Davisville had a record-breaking month for auto imports in August. The Port received a total of 35,000 vehicles, breaking the previous record from November of 2017 by more than
30%. Throughout the past 20 years, the Port has seen unprecedented growth of over 547%. Davisville now handles six times the volume of auto imports than what was received in 1996. The Port is positioned for further success with ongoing improvements to Pier 2, the “workhouse” of the port. These renovations will be instrumental in increasing the port’s capacity. Announced in 2016 by Governor Gina Raimondo and overwhelmingly approved by voters, pier improvements include the construction of new steel
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NY Tel: 781-878-4540 PROOF NE REAL ESTATE JOURNAL Changes
Quonset Development Corp. 95 Cripe St., North Kingstown, RI 02852 401-295-0044
Port of Davisville makes Quonset ideal choice for cos.
28 Boston St. East Providence, RI
Services we provide:
New England Real Estate Journal
Run Date:
35 SOCKANOSSET CROSS ROAD CRANSTON, RI - FOR LEASE
1 NEW INDUSTRIAL WAY WARREN, RI - FOR LEASE
• 4,040 sf office suite available • 15+ private offices, conference room & shared restrooms • Ample on-site parking • Near Garden City & Chapel View
• 4,000 sf Flex unit with 960 sf retail/showroom • 12 ft. ceiling heighs • 12 x 10 overhead door • Good visibility; just off Route 136
1275 WAMPANOAG TRAIL EAST PROVIDENCE, RI - FOR LEASE
15 LARK INDUSTRIAL PARKWAY SMITHFIELD, RI - FOR SALE
• 12,950 sf available • Located just north of Barrington on Route 114 • Ample on-site parking • Build to suit options available
• 16,272 sf free-standing flex building • Fully air conditioned, ceiling heights between 12-14 ft • Four overhead doors, 400 amps and 3 phase electric • Just south west of Putnam Pike and Cedar Swamp Road
For more information contact: Thomas O. Sweeney, SIOR
[email protected] 401.331.9300 • www.sreari.com
sheets along the north, south and east faces of the pier and dredging the port to accommodate large ships. These renovations will add a third berthing space at the Port for unloading cars and other cargo. Our Port director, Bob Blackburn, has been instrumental in keeping Port operations efficient during the critical Pier 2 construction. Bob and his team have been working hard to ensure that we maintain business continuity during the ongoing construction period, as we must be able to discharge vessels on the East face of the pier before we can repair the south berth. We are actively communicating with all tenants to ensure that we continue to meet their shipping needs during this period.August’s record volume is a testament to Blackburn and his team.
Quonset is currently home to over 200 companies that provide nearly 12,000 jobs. The Port of Davisville is just one of the many reasons Quonset Business Park is an ideal location for companies looking to expand their business. Thanks in part to the longtime advocacy of U.S. senator Jack Reed, the Port of Davisville was selected by the U.S. Department of Transportation earlier this year to become a stop on the new Maritime Highway initiative. The Port will join the ports at Brooklyn, N.Y. and Newark, N.J. on the highway. Thanks to a Maritime Administration (MARAD) grant of over $850,000, the Port is positioned for increased barge services. The benefits for tenants are twofold: this initiative will significantly decrease car traffic in and out of the business park, while providing tenants with the opportunity to easily access large markets throughout the East Coast, particularly in New York and New Jersey. Quonset is currently home to over 200 companies that provide nearly 12,000 jobs. The Port of Davisville is just one of the many reasons Quonset Business Park is an ideal location for companies looking to expand their business. With the improvements at Pier 2, we look forward to expanding our offerings even further to help tenants succeed for years to come.
Steven King, PE, is the managing director of the Quonset Development Corporation, North Kingstown, R.I.
Rhode Island
nerej.com
October 12 - 18, 2018 13B
Phone: 508-336-4000 x14 Fax: 508-336-3241 Cell: 401-524-5877 Visit our Website for more Listings: www.aubincorp.com FOR SALE / LEASE • SWANSEA, MA 2200 GAR Highway
Bayside Medical Building, off Dudley St.
3,800 SF turn-key Medical Space. Well appointed layout. Located on Rt. 6, easily accessible from Rt. 1-195, Rt. 136, 15 minutes to Providence or Fall River. Lease: $14.00 SF NNN • Sale: $1.3 Million
Former Radiology Office in the lower level, 2,900 SF located directly across from RI & Women & Infants Hospitals. 2 parking lots. $20.00 SF NNN
FOR LEASE • LINCOLN, RI 6 Blackstone Valley Place
FOR LEASE • SEEKONK, MA 1332 Fall River Avenue
CE I R P
FOR LEASE • PROVIDENCE, RI
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1ST floor Office with road front visibility. 3,600 SF Office/Medical Space. 2 entrances, large offices, kitchen, open area/conference. $12.00 SF NNN
1,600 & 2,100 SF available. Executive Office/Medical/Retail in the heart of Rt. 6. Other well established tenants include a dental office and day care. $12.00 SF NNN
FOR SALE • EAST PROVIDENCE, RI The Tool Crib - Owner Retiring
FOR LEASE • SWANSEA, MA Office/Warehouse located next to Cardi’s
Includes: Real Estate, Business & Inventory. Specializing in the sale of Industrial Tools & Machine Shop Supplies. $400,000
Located at the intersection of Rt’s. 136, Rt. 6 and across the street from I-195 off-ramps. Includes 3 small offices, warehouse and overhead door. All NNN expenses included. Tenant pays utilities. $3,200 month
Rhode Island
14B October 12 - 18, 2018
BIG news small budget!
New England Real Estate Journal
SMITH OF NKF CAPITAL MARKETS BROKERS SALE
A one year $139.00 subscription includes: • The 55 year old New England Real Estate Journal delivered. • Access to the digital edition on nerej.com. • The Daily RE Cap newsletter which covers New England sales, leases, mortgages, construction and many activities linked to the multi-trillion dollar industry.
Subscribe to the Tel: 781-878-4540 | 800-654-4993
[email protected] | www.nerej.com
Carpionato Group acquires 210,000 s/f The Shops at Quonset Carpionato Group, a New England-based property development company, has purchased The Shops at Quonset, a 210,000 s/f retail development at the gateway to the Quonset Business Park from New Boston Real Estate Investment Fund. The property is within the 3,174 acre master-planned former naval base managed by the Quonset Development Corp. “Every day more than 11,000 people go to work at the Quonset Business Park, and this major commercial property represents a tremendous opportunity to provide enhanced and convenient shopping and dining options to an underserved marketplace,” said Kelly Coates president of Carpionato Group. The site includes 166,000 s/f of existing retail space anchored by Dave’s NOR T H K INGS T OW N, RI
Marketplace, Kohl’s, and Homegoods. It also includes 55,000 s/f of stand-alone building pad sites to be developed for retail and or restaurants. The purchase of the Shops at Quonset Point does not include the property
MG Commercial is pleased to welcome Julie Freshman to our team of brokers!
formerly occupied by Lowe’s. “The Carpionato Group is one of the most prolific developers in the state of Rhode Island and will undoubtedly serve as excellent stewards of Shops at Quonset. Their team will put a unique stamp on this asset, bring a host of tenants that will augment the existing retailers in turning the site, which already serves as the gateway to one of New England’s fast growing business parks, into a true regional destination,” said Justin Smith, managing director of NKF Capital Markets Boston office, which brokered the sale.
Julie Freshman joined the MG Commercial Real Estate team in 2018 and is primarily focused on industrial property sales and leasing.
Amper of Capstone Properties completes 2 leases totaling 126,000 s/f
Julie worked in the environmental consulting/engineering industry since 2003 in Rhode Island and southern Massachusetts, prior to transitioning to commercial real estate. Her business-friendly approach to client advocacy and focus on timely communications has helped move numerous property transactions and development projects along to completion.
EAST PROVIDENCE, RI
Julie holds an undergraduate degree in Environmental Science with a minor in Geography from the University of Delaware and a graduate degree in Energy and Environmental Analysis with a concentration in Geographic Information Systems from Boston University.
Neil Amper, SIOR, vice president of Capstone Properties has represented Camin Cargo Control in the leasing 6,000 s/f of warehouse space at 66 Commercial Way. Camin Cargo Control (CCC) has been providNeil Amper ing inspection, laboratory testing, and additive treatment services to the petroleum industry for over 30 years. They operate in over 50 locations.
In May 2017, Julie was the recipient of the Providence Business News “Women to Watch” Award. Julie resides with her husband and two daughters in Barrington, RI. Please welcome Julie to the MG Commercial Team.
Real Estate Consulting and Brokerage Services 365 Eddy Street, Penthouse • Providence, RI 02903
401-751-3200 • 401-751-2871 (fax)
66 Commercial Way East Providence, RI In another transaction, Amper, in cooperation with Anthony Delguyd of Hanna Commercial Real Estate of Cleveland, Ohio, has leased 120,000 s/f of manufacturing space located in Precision Park at 200 Frenchtown Rd. in North Kingstown to Dryvit, a division of RPM International. Gerry Lavalle of CBRE represented the landlord, Equity Industrial Partners of Needham, Mass.
Rhode Island
nerej.com
October 12 - 18, 2018 15B
Union carpenters make my company the best. Dave Rampone President, Hart Engineering Cumberland, RI
Construction has always been a tough, competitive business. You want a company who can actually complete a project, not just compete for one. Union contractors recognize they need to be at their best every day to win business and be successful. That’s why they partner with the New England Regional Council of Carpenters. Our professional and well-trained workforce emphasizes safety, quality and productivity on the job site, helping to reduce risk and maximize value. It’s the right team – at the right time – for successful results.
The New England Regional Council of Carpenters. It’s time to build. To learn more, visit NERCC.org
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Rhode Island
16B October 12 - 18, 2018
New England Real Estate Journal
Cities of Pawtucket and Central Falls 2018 SUMMIT
The Next Great Development Opportunity with $50 million dollar commuter train station and transit hub ready to break ground
November 15, 2018
Speakers
Isles Brewers Guild 461 Main Street, Pawtucket, RI
Mayor Donald Grebien Mayor of Pawtucket
Mayor James Diossa Mayor of Central Falls
Jan Brodie Pawtucket Foundation
Register today! Early Bird Rate $59 ends November 10 Regular Rate $79 after November 10
Contact Rick Kaplan 800-654-4993, ext. 247
[email protected] www.pawtucketsummit.eventbrite.com Sponsorship and Speaking Opportunities Available.
Meredith Brady Division of Statewide Planning
Alison Bologna Terry Gray Developer, RI Dept. of Environmental Chanel 10 News Host Management
Jeremy Duffy Isle Brewers Guild
Lance Robbins Urban Smart Growth
9:30am-10:00am
Networking and Continental Breakfast
10:00am-11:00am
Funding Resources and Investment Opportunities
Agenda
Barbara Fields RIHousing
11:00am-12:00am
Businesses Already Investing - Why Getting in On The Ground Floor is Making Sense
12:00noon-1:00pm
Networking with Speakers and Attendees
nerej.com
Rhode Island
October 12 - 18, 2018 17B
Back Page B October 12 - 18, 2018
Rhode Island
New England Real Estate Journal
CITY
on the
MOVE
movetowarwickri.com citycentrewarwick.com
Joseph J. Solomon Mayor
Classified
Featuring
AUCTIONS
Million$ of Offering$ Sale Lease Wanted
High Performance Auctions www.amgss.com 800.209.3900
Section C
Dale W. Schaetzke, CAI, AARE, CES, GRI
Auctioneer/Broker/Realtor®
CAPE COD Centerville Inc. René L. Poyant, GEMENT REAL ESTATE MANA
New England Real Estate Journal BURLINGTON, MA RESTAURANT SITES • 84-144 Seats • 4,600 SF to 10,000 SF • Next to Burlington Mall
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]
RHODE ISLAND Residential and/or Continuing Care Development Opportunity Winsor Farm 158 Acres Northern Rhode Island (near new Citizens Corp.)
• Single family/retirement community • Planned mixed-use district, golf, solar, flexible density • Easy access to Boston, Providence, NY & Rt. 295/95 • Includes two historic homes, fields, woodlands, privacy, sewer & water available • Development plans upon request Ned Caswell
Flagship nedc@rihomesearch-com 401-741-4044 www.winsorfarmri.com
FOR SALE
OFFICE / RESIDENTIAL
ONE HARDY STREET, NASHUA, NH ROUTE 101A
SINGLE FAMILY RESIDENCE & FREESTANDING CLINICAL BUILDING Res. Bldg SF: Clinical Bldg SF: Site Size: Zoning:
1,464 ± SF 936 ± SF 0.25 ± acres Local Business (LB)
>
VEAR COMMERCIAL PROPERTIES, INC.
603-882-6000 www.vear.biz
DOWNTOWN NEWBURYPORT, MA
• 100% Location Exclusive agent
Roy C. Papalia, Jr.
Office Building with Apartment
Currently configured into 10 small office rental suites and a nicely appointed 2 Bedroom, 2 Bathroom apartment. A rare opportunity to live and/or work in historic vibrant downtown with revenue from office and/or apartment. Call Austin Spinella
(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) 618-2605 email:
[email protected]
ALL CASH PURCHASES • Store Blocks • Shopping Centers • Net Leased Properties Quick Response to Submissions By Principals 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
October 12 - October 18, 2018 L A N D
RESIDENTIAL
A N T E D
Please contact: Land Acquisition
Single Family or Condominium
50+ units Raw, Approved, Urban Infill, W Multi-Family in Mass., R.I. & CT
Pulte Homes of New England, LLC Call:
508-870-9999 Ext. 1
FOR SALE - PRICE REDUCED FRAMINGHAM, MA 4,273 sq. ft. Professional Office Building
Professional Office Building to be Delivered Vacant 4,273 sq. ft. over two floors plus full basement with off-street parking. Abundance of natural light!
Extensively renovated and modernized. Features include backup generator, emergency lighting, central fire control panel. Quick access to Rt. 9 and Mass Pike, close to Metrowest Medical Center Call or email for photos, plans and more information.
Call 508-820-0133
[email protected]
FOR SALE
Office/R&D/Hangar Nashua Municipal Airport $1,299,000
• 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) • Sale and Lease-back opportunity if desired • Directly off the runway
603-880-6655 www.prolmanrealty.com
August 27, 2018 Patty
2C October 12 - October 18, 2018
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Business / Investment
EVERY OTHER WEEK,
Run it 8/31, 9/7, 9/14, 9/21 and 9/28 Do not run after Sept. 28 Restaurants Stores Ralph Nursing Homes
For Sale Motels Apartments Farms
Lease Wanted Businesses Condos Land
52,824 SF Flex/Industrial Building
For Sale Southern NH
40 Depot Street,Warner, NH $1,995,000 ($37.77/SF)
50 acres of Privacy • • • • • • • • • •
1031 Candidate Gentleman’s Farm Educational Compound Religious Compound Non-Profit Recreational Facility Open Space Development River Frontage Rolling topography Seclusion Raise Farm Animals
• 29,052 SF - 2 floors of Industrial (10-14' height) • 1 loading dock and 1 overhead door
Brenda Litchfield, CCIM
• 23,772 SF - 2 floors of office, conference rooms, large employee break room
Concord Commercial Real Estate 2.5 Beacon Street, Concord, NH Tel: 603-225-3200 • Cell: 603-731-5000
• MAKE AN OFFER
Only $699,000
603-434-9700
Shopping Centers Hotels Mobile Parks
[email protected] www.concordcommercial.biz
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
FOR SALE
32 Pleasant Hill Lane Hyannis, MA
Ideal for: Automobile, Boat, RV or Self Storage
SITE
Lot Included
Property Specifications • Building Size: 118,000 SF
• Land Size: 10.87 acres
• Utilities: Municipal Water & Gas • Clear Height: 18' to 24'
EIGHTEEN (18) Fully Permitted Residential Condominiums 18 Two Bedroom/2 Bath Units - Full Set of Plans
• Zoning: Industrial
• Shelving: Heavy Industrial
Town Sewer and all Utilities on Street
• Lease Rate: To be Negotiated
• Sale Price: Call for Details
1.2 Miles to Sea Street (Keyes Memorial) Beach
HOLLY MANAGEMENT - 508-775-9316
[email protected]
$1,000,000
Call:
508-775-9316
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October 12 - October 18, 2018 3C
Space Available BELMONT, MA
Specialty Supermarket
15,000 Square Feet in Downtown Belmont
• New Equipment in Place • Store Fully Built - Ready to Open • Strong Foot Traffic • 8 Miles from Downtown Boston, on the Commuter Rail line • Bustling Downtown Join: Belmont Books, Didrik’s, Local Root and The Wellington Restaurant
Contact Kevin Foley, Manager
LOCATELLI PROPERTIES, LLC 617-484-2200
Visit us at: locatelliproperties.com
4C October 12 - October 18, 2018
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Office / Retail Office Space Office Space Retail Space Retail Space
For Sale
Lease Wanted Condos
Tewksbury, MA 2,500 SF of Retail/Office Space
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.
Condos R&D R&D
Warehouses Warehouses Sites Sites
RETAIL/OFFICE PAD SIDE Thomaston, Maine
SITE
RENAISSANCE REAL ESTATE CO.
Phone:
(781) 334-2476 • email:
[email protected]
FOR SALE
Rte. 28/Woods Road South Yarmouth, MA RO
UT
E2
8
2.59 acres with 300 feet of frontage on U.S. Route One. Close location to the Walmart/Tractor Supply rental center. Neighbors close by include: Walmart, Tractor Supply, Hampton Inn, Lowes, Applebee’s Restaurants, McDonalds and Flagship Cinema. Site is to grade with all utilities on-site.
INDUSTRIAL BUILDING Waterville, Maine
WOOD ROAD
NINE (9) Fully Permitted Residential Condominiums 6-2 bedroom and 3-1 bedroom. All Utilities to Premises. .6 miles to Windmill Beach 1.2 miles to Smugglers Beach
$489,000 Call:
508-775-9316
6,000 Square Foot Building sitting on 1.15 acres located very close to the airport and Interstate I-95. Easily accessible from most areas in Waterville. Building can be easily adapted for any commercial or industrial uses. $439,000. Douglas M. Erickson, CCIM 318 Main Street, Rockland, ME Office: (207) 596-7478 • Direct: (207) 390-3333 email:
[email protected]
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New England Real Estate Journal
October 12 - October 18, 2018 5C
JOSEPH PROPERTIES 603-641-8608
[email protected]
FOR SALE / LEASE
34 INDUSTRIAL DRIVE, HOOKSETT, NH 5.07 ACRES - 24,976 SF INDUSTRIAL WAREHOUSE
PROPERTY DETAILS: • 22,000 SF Warehouse Space
• Two level 2,000 SF Office Space
• 5 Paved Acres with Gated Entrance
• 1000 AMPS
• Additional 6,000 SF Covered Building with Attached Garage • .5 miles from Route 3 • 4miles to I-83
• Zoned Industrial
• 11' High Bay Garage
• Sunken Loading Dock
• Doors: (7) 16' x 20'; (3) 12' x 18'; (1) 10'x14'
Call for More Information or to Schedule a Showing (603) 641-8608
6C October 12 - October 18, 2018
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New England For Sale FOR SALE HAVERHILL, MA
Lease Wanted 7 LOCATIONS FOR LEASE
FOR LEASE EASTON, MA 507 Foundry Street/Route 106 Office/Retail/Restaurant Building Total 5,625 S.F. First Floor: 2,529 S.F. Site: 40,106 S.F. High Visibility, 24,000 VPD Surrounded by major retailers, businesses and restaurants
Medical Office Condo 3,265 Square Feet
• Near Hospital • Remodeled in 2010 • Efficient Design • 2 - Procedure Rooms/Recovery • Easy Access to I-495
OFFICE - INDUSTRIAL GREATLY REDUCED RATES 1,300 SF TO 7,500 SF
CO-BROKER INCENTIVES
WEST BRIDGEWATER,MA 499 W. Center Street Rt. 106 w/convenient access to Rt. 24
Priced at Only $559,000
35,000 S.F. ± Build-to Suit
Call Steve DeSisto
High Visibility, 30,000 VPD 3 Mile Population, 14,907 5 Mile Population, 97,955
40 Kenoza Avenue • Haverhill, MA Office: (978) 373-3897 • Cell: (978) 852-5559 email:
[email protected]
William J. Adams, Principal Phone: 508-899-4577 •
[email protected]
FOR SALE OR LEASE KENNEBUNK, MAINE
$1.00 - $1.60 / SF / YR Beverly: 900 Cummings Center Stoneham: 92 Montvale Ave. Wilmington: 260-A Fordham Rd. Woburn: 130 New Boston St. Tower Office Park, Cummings Park Exclusive Sublease Agent
Marianne E. Wronka
781-229-2233
www.wronkaltd.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]
7,000 square foot pad with 1-acre limited common area just off Exit 25 of the Maine Turnpike (I-95) facing a new Hampton Inn. Ideal for: Restaurant, Retail, Health Care, Service Businesses, Laboratories or Small Scale Industrial uses. The seller can build to suit. Approved and ready for permitting with utilities and drainage in place. Peter Gluckler
226 York Street, York, ME Office: 207.361.6691• Direct: 207.337.1701 Email:
[email protected]
FOR SALE VISA®
MasterCard
AMERICAN EXPRESS
Double Space (5" x 3-5/8") Please bill me — ❏ (2 Fridays) $280 Pay in advance - SAVE Prepay — Check/Charge ❏ (4 Fridays ) $400 — ❏ (2 Fridays) $240
❏ (4 Fridays) $480
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
October 12 - October 18, 2018 7C
Property of the Week FOR SALE HOOKSETT, NEW HAMPSHIRE 272 Londonderry Turnpike 22,500 Square Foot Industrial/Warehouse Building
• Municipal Water/Sewer and Natural Gas • 50 Parking Spaces
• Easy access to Routes 101 & 93
• Many other Features & Benefits
$1,185,250
John A. Jackman, President, CCIM Office: 603-645-6441 email:
[email protected] website: www.jackmanrealty.com
8C October 12 - October 18, 2018
New England Real Estate Journal
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FRAMINGHAM, MA - OPPORTUNITIES: FORMER MARIAN HIGH SCHOOL & CONVENT BUILDINGS
SITUATED ON 3.2 WATERFRONT ACRES ON PRESTIGIOUS UNION AVE. & ONE BLOCK FROM HOSPITAL. OVER 100,000 SF OF SOLID STRUCTURES. LEASE EXISTING BUILDINGS OR REDEVELOPMENT OPPORTUNITY FOR RESIDENTIAL, MEDICAL, CONDOS, OFFICE, SCHOOL ETC. TOURS BEGIN OCTOBER 9, 2018 AT 2:00 P.M. PLEASE EMAIL MARLENE ARON AT
[email protected] FOR A FULL LISTING PACKAGE.
FRAMINGHAM, MA - SOLAR FARM ON 3.2 ACRES
ONE OF FRAMINGHAM’S ONLY SOLAR FARMS IS BEING OFFERED FOR SALE. CONSTRUCTED BY THE CURRENT OWNER IN 2013/2014. SELLER NETS APROX. $300,000. MORE DETAILS ARE AVAILABLE AT
[email protected] COMING SOON ICONIC RESTAURANT BUILDING - CALL CHERYL @ 508-641-4884 FOR DETAILS
INDUSTRIAL FOR LEASE
4,100 - 22,454 s.f. with 15'-22' height & loading/drive-in.
RT. 9 RETAIL - 2,600-4,600 SF Anchor tenant - U.S. Post Office in this 50,000 s.f. plaza.
FOR LEASE - BRICK BLDG.
4,600 s.f. Potential live/work. Walk to train station.
RECENTLY CLOSED
Liquor license. 270 seats. SALE/LEASE
FOR ALL METROWEST OPPORTUNITIES – CALL TODAY - 508-740-0000 Please visit www.MarleneAron.com for all listings
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October 12 - October 18, 2018 9C
On Land, Sea or Air. Visit the largest weekly commercial/ investment newspaper in the country online! www.nerej.com
Celebrating 55 Years!
Includes direct link to your website or email address New Issue Every Friday
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Shop, Rent-A-Center, CVS Pharmacy, Bank of America, H&R Block and Applebee’s 10C October 12 - October 18, 2018
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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October 12 - October 18, 2018 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
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
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Improvement Company 39 Industrial Parkway Woburn, MA 01801
uspavement.com
800-398-1380
www.tectaamerica.com
N. Billerica, MA • Hanover, MA • Portland, ME • E. Hartford, CT
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 October 12 - October 18, 2018
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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New England Real Estate Journal
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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October 12 - October 18, 2018 13C
Auctions
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
High Performance Auctions www.amgss.com 800.209.3900
• INDUSTRIAL PLANTS • MACHINERY • • CONSTRUCTION EQUIPMENT • • COMMERCIAL, INDUSTRIAL & RESIDENTIAL REAL ESTATE •
Dale W. Schaetzke, CAI, AARE, CES, GRI
TOLL FREE 1-877-POSNIK-1 (767-6451)
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visit our website at www.posnik.com • Email us at
[email protected]
373 BOYLSTON ST., NEWTON, MA 02459
617-731-4455
www.paineauctioneers.com MA Lic. #120 • NH Lic. #2779 • RI Lic. #0546
The man with the “Golden Gavel”® P.O. Box 2114 • New Castle, NH 03854
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 " %& $
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COMMERCIAL & RESIDENTIAL R EAL E STATE AUCTIONS
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www.tranzon.com
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, This SpaceCONNECTICUT Available KENMORE, NEW YORK SOMERSET, NEW JERSEY
If you would like to be included on this page contact:
Karen Dowell Phone: 781-878-4540 x254 Fax: 781-871-1853 email:
[email protected] www.nerej.com
14C October 12 - October 18, 2018
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New England Real Estate Journal
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Auctions MA Lic. #107
MA Lic. #107
TOWN ORDERED
CITY OF SPRINGFIELD
PUBLIC AUCTION
HATFIELD, MA
• 1 KING ST – 1,344± SF 3 BEDROOM HOME • MAIN ST – 2.45± ACRE VACANT LOT (Parcel ID: 214-119)
REJ100718
AUCTION HELD AT HATFIELD TOWN HALL TUESDAY, OCTOBER 30 AT 12PM Tues.: Oct. 16 – 10AM to 12PM Open Houses Tues.: Oct. 23 – 1PM to 3PM PREPARED FOR: PESCO
PUBLICATION: NEREJ
PUBLIC AUCTION Tuesday, October 23 at 6PM Springfield City Hall, 36 Court St Registration Begins at 4:30 PM
21 City-owned properties on the auction block: 8 Residential Properties: 70 AMORE RD 37 CHAPEL ST 22-24 DECATUR ST 21 GREENWICH ST 65 MAYNARD ST 27 ROCKLAND ST 123 SYLVAN ST 524 UNION ST
Open House Sat., October 20 9 – 11am 9 – 11am 12 – 2pm 12 – 2pm 9 – 11am 12 – 2pm 12 – 2pm 9 – 11am
10 Vacant Lots NS BAY ST (2 LOTS) (01085-0010 & 11)*** WS BOWLES ST (01692-0005)*** WS BUCKINGHAM ST (02042-0022)** ES COLLEGE ST (03020-0070) ES COLONIAL AVE (03040-0021) NS KING ST (07295-0046) ES LARCHMONT ST (07525-0022) NS TRACY ST (2 LOTS) (11600-0013 & 14)
3 Commercial Properties
TERMS: $5,000 Deposit by bank check payable to 241 MAIN ST (INDIAN ORCHARD) 12 – 2pm ** Located in Local Historic District. TOWN OF HATFIELD; 7% Buyers Premium & balance due within 1579 (& Rear) STATE ST 9 – 11am *** Located in National Historic District. AD SIZE: SECTION: RUN DATE: 10-12-18 D BY: S. SAPERSTEIN 30 days of the auction. Additional terms announced at sale. TERMS: $5,000 DEPOSIT by Certified Bank Check payable to: City of Springfield; 6% Buyer’s Premium. Inventory subject to change. Visit web for full terms and Auction Info Package.
E: Friday
Sullivan-Auctioneers.com 617-350-7700 AUCTIONEERS • APPRAISERS
PAUL144 E.Centre SAPERSTEIN CO., INC. Street, Holbrook, MA 02343 Tel: 617-227-6553 •www.pesco.com MA Lic 295, N.H 2508, R.I 9246, VT 057-0002204
Mortgagee’s Sale of Real Estate at Public Auction
NANTUCKET Four Bedroom Colonial 59 Orange St., Unit #2, nantUcket, Ma tUeSday, OctOber 30, 2018 at 12PM 1,945+/-sf 2-story detached colonial style condo having 8 rooms, 4 bedrooms and 4 baths w/ basement, central a/c, fireplace, patio & 1 parking space. Terms of sale: A deposit of $100,000 by certified or bank check will be required at the time & place of sale & balance in 30 days. All other terms announced at sale. Neither Auctioneer, Mortgagee nor Attorney make any representations as to the accuracy of the information contained herein. Riccardo L. Rullo, Esq., Law Offices of Frank N. Dardeno, Somerville, MA.
Other terms announced at auction. Vist web or call for auction information.
Sullivan-Auctioneers.com • 617-350-7700
ATTENTION Auction Companies
Reach the people who want to attend your presentation and buy your properties
The New England Real Estate Billboard Weekly *Readership 40,000 + per issue *Large display ads - 5” x 6” (Larger sizes available)
For the past FIFTY-FIVE years OWNERS, DEVELOPERS AND BROKERS have been selling and leasing their commercial properties through the country's largest real estate weekly newspaper - NEW ENGLAND REAL ESTATE JOURNAL. The JOURNAL has probably marketed more commercial property than all the Sunday newspapers in the region put together.
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New England Real Estate Journal
October 12 - October 18, 2018 15C
Auctions Real Estate For Sale by Special Master at Public Auction
Homesite/Lot of Land - 5,200 SF 37 Hillside Drive, Plymouth, MA 02360 To Be Sold: Friday, October 19, 2018 at 4:00 PM on the premises Well located – Offering a 5,200 SF lot of land (50’ x 104’) along an asphalt paved, public street and with public: water, gas & electric; sanitary sewer is private; subject is largely level with good appeal and is well located within a neighborhood of single family homes. Terms of Sale: $5,000.00 Deposit in cash or bank cashier’s check; balance due in 45 days; other terms & conditions at sale. Offering Strategy: Bid Your Price! Property Previews: View anytime, call auctioneer or one hour prior to the auction.
$ Realtor Commission Available $ – Call Auctioneer Register your Buyers Note: All information herein is according to information believed, but not guaranteed, to be correct. Call auctioneer for details. George A. Collias, MBA - MA Auctioneer’s Lic. #662
Real Estate For Sale at Public Auction 7.74 (+/-) Acres Development Site Former Assonet Inn
16 Water St., Freetown (Assonet), MA 02702 To Be Sold: Sat., October 20, 2018 at 12:00 PM (noon) on the premises SITE
Outstanding Location – a sloping hillside property overlooking Taunton River, near Shepard’s Cove, offering a 7.74 Acre parcel improved by a 7,192 SF Victorian style wood frame building (former Assonet Inn & apartments), a large detached barn & paved parking area. The possible three or four lot subdivision is: To Be Offered Individually & In The Entirety; original inn & barn on a 70K SF lot and two or three (3) 70K SF lots. Terms of Sale: $10,000.00 Deposit to bid on each individual lot or $20,000.00 Deposit to bid on the entirety – deposit in bank cashier’s check; balance due in 50 days; other terms & conditions at sale. Offering Strategy: Bid Your Price! Property Previews: Sat., October 6th & 13th beginning at 11:00 AM sharp or one hour prior to the auction.
$ Realtor Commission Available $ – Call Auctioneers
Note: All information herein is according to information believed, but not guaranteed, to be correct. Call auctioneer for details. George A. Collias, MBA - MA Auctioneer’s Lic. #662
ADDITIONAL UPCOMING AUCTIONS Framingham, MA - Tuesday, October 23 at 11:00 AM - 14 Pond Street, Unit B Framingham, MA, Chapel Hill East - Tuesday, October 23 at 12:00 PM (noon) - 1500 Worcester Road, Unit 711 Pepperell, MA - Tuesday, October 30 at 12:00 PM (noon) - 2 Cranberry Street
See listing & photographs at: auctionzip.com – ID #5964
Southcoast Auctions & Realty, Inc. - George A. Collias
Auctioneers/Appraisers/Realtors/Agents There are Two Ways to Sell Real Property - On the Market for Months or Off the Market in Minutes. Take Action! Have an Auction. The Auction Advantage!
(508) 679-7919
16C October 12 - October 18, 2018
New England Real Estate Journal
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Chozick Realty, Inc. Commercial & Investment Real Estate Since 1967 The Clarendon Apartments • West Hartford, CT Offered for $8,180,000
Wickham Gardens Apartments • East Hartford, CT Offered at $7,700,000
39 spacious apartment units in the highly desirable West Hartford multifamily market. In walking distance of West Hartford Center and Blue Back Square. Maintained by one owner for over 20 years. Consistently at or close to 100% occupancy.
90 units located yards from Manchester town line. Great mix of 49 1-BR 40 2-BR and 1 3-BR apartments. Units are large with hardwood floors. Property is fully occupied. High demand with upside.
Captain Neville Plaza • Waterbury, CT Offered for $1,800,000
Former Skilled Nursing Facility • South Windsor, CT
+/- 17,600 SF multi-tenant commercial/industrial building with long-term billboard lease. Located just off the Austin Road exit of I-84. Fully leased by long-term tenants. Strong NOI with limited owner responsibilities.
+/- 31,744 SF on 13.06 acres in a desirable community. Rarely available re-purpose opportunity. A-40 zoning allows for single family development, with potential uses of assisted living, medically related inpatient services, elderly housing, educational or religious institutions.
Offered for $2,750,000
Recent Highlighted Closings
Evergreen Court Apartments
Harvest Multifamily Portfolio
$1,750,000
$27,500,000
Briarwood Lane, Branford, CT 18 units • $97,222/unit
East Hartford, CT
441 units • $62,358/unit
Chozick Realty has a 51 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.
999 Asylum Avenue, 1st Floor Hartford, Connecticut 06105 www.chozickrealty.com
[email protected] (860) 247-7400
New England Real Estate Journal
nerej.com
October 12-18, 2018
Inside Back Cover
121 TECHNOLOGY DRIVE Durham, New Hampshire UP TO 464,000 SF – 172 ACRES FOR SUBLEASE
24' – 47' CLEAR Warehouse & Manufacturing space
HEAVY Power – 6,000+ Amps, 19,900+ volts
15 Heavy Duty CRANES
MUNICIPAL water & sewer
FOR MORE INFORMATION: (603) 628-2800
1,290,000 SF vested expansion rights
Back Cover
New England Real Estate Journal
October 12-18, 2018
nerej.com
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Offers end 1/20/18. Credit card required (except MA & PA). Early Cancellation Fee may apply. Local channels ($0.50/room/mo.), if available in your market, required. To access DIRECTV HD service, HD equipment req’d. Number of HD channels varies based on package selection.
FIRST-YEAR HD ACCESS AND DRE SOFTWARE FEE SUBSIDY: Offer available for HD Receiver system, DIRECTV Residential Experience (DRE), DRE Plus and COM1000/2000 customers who subscribe to SELECT Package ($5.50/room/mo.) or above, with local channels ($0.50/ room/mo.), if available in your market. HD Access fee of $0.75/mo./unit required. The HD Access fee and, if applicable, the DRE Software fee upfront subsidy offer is available with a 5-year programming agreement for new or existing institutional subscribers. The upfront subsidy amount of $9/unit covers HD Access fee for 12 mos. for the HD Bundle/HD Premium Bundle Package. The upfront subsidy amount of $13.80/unit covers the HD Access fee and DRE Software fee for 12 mos. for DRE HD Bundle. 20-room minimum; HD Access is required in all units. Renewal customers must be converting from SD to HD—current HD properties are not eligible. FOR ALL HD OFFERS, IN THE EVENT YOU FAIL TO MAINTAIN YOUR PROGRAMMING AGREEMENT, YOU WILL PAY THE APPROPRIATE PROGRAMMING FEES FOR THE ENTIRE COMMITMENT PERIOD AND YOU AGREE TO PAY AN EARLY CANCELLATION FEE EQUAL TO THE FULL SUBSIDY AMOUNT PROVIDED TO YOU. Payment is due within thirty (30) days of receipt of a notice of failure to complete the commitment period. ©2017 AT&T Intellectual Property. All Rights Reserved. AT&T, Globe logo, DIRECTV, and all other DIRECTV marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks are the property of their respective owners.
