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The Real Reporter
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A COMPENDIUM OF COMMERCIAL
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JANUARY 2, 2015
THIS WEEK’S ISSUE
etatsE laeR laicremmoC rof ecruoS sweN ehT :enil gaT
Dual Agency . . . . . . . . . . . . . . . . . . . 2
retroCommodore
peR ylkPerformance
eeW . . . . . . . . . . 3
Taking a Napa . . . . . . . . . . . . . . . . . . 4
Lafayette We Are Here . . . . . . . . . . . . 5
BY JOE CLEMENTS
High Finance . . . . . . . . . . . . . . . . . . . 7
Carpenter & Co. Selling Plaza to Bierbrier
In $41M+ Exchange of South Shore Place
B
THE REAL REPORT
Equity Swap
RAINTREE — A first-rate
developer (Carpenter & Co.)
plus its “supreme location”
and Who’s Who of national tenants
from Ben & Jerry’s to Starbucks is
adding up to an exchange of South
Shore Place approaching a whopping $900 per sf, market sources
are telling Real Reporter. And the
buyer brings his own pedigree to
the table—sources indicate
regional shopping center magnate
continued on page 27
HBS Pub Eyeing 150,000 SF in Brighton
BY JOE CLEMENTS
B
RIGHTON — Harvard Business
School Publications is heading
from Watertown to Boston
Landing, according to market
sources who are claiming the operation will fill upwards of 150,000 sf
being left behind by developer and
main tenant New Balance Corp., with
owner James Davis moving his shoe
concern to 250,000 sf in a building
40 Pequot Way, Canton MA
Boston Landing, Brighton MA (Rendering)
Scott Dragos
Douglas Jacoby
CANTON — The most enduring
move Tweeter Entertainment
Corp. ever made was construct a
modern headquarters and manufacturing facility here on Pequot Way,
a complex that opened in 2001 but
went dark after the 2008 recession
when the music electronics firm was
thrust into bankruptcy, ultimately
leading to the three-story, 63,000-sf
office building at 40 Pequot Way
continued on page 8
continued on page 28
Calare Moves to Attract Institutional Set
BY JOE CLEMENTS
H
UDSON — Calare Properties finished
up an eventful 2014 with even more
accomplishments, acquiring buildings in Watertown and
Milford,
Connecticut
while launching a freshly
designed
website
(calare.com) detailing
the firm’s dozen years at
the helm of founder
William Manley and new
president Bryan C. Bryan C. Blake
Blake that has led to a $500 million industrial portfolio encompassing 15 million sf
from suburban Boston to Colorado,
including this summer’s purchase of a
Tampa-area industrial
and office portfolio
totaling 232,000 sf. In a
recent interview, Blake
explains the website
especially wants to promote the firm’s experience handling instituWilliam L. Manley
continued on page 29
THE REAL REPORTER
2
January 2, 2015
Avison Young Sells 169,225-SF Flex Park
M
Michael Smith
Scott Jamieson
Brandon Dickason
ARLBOROUGH
— A full-service
approach promised by Avison Young
when the Canadian brokerage powerhouse set
up shop regionally in
2010 has been on display here in sales and
leasing expertise delivering results at the
Brigham Business Park,
a
multi-building
flex/office complex that
changed hands this past
month to a Connecticutbased investor. Avison
Young’s Capital Markets
team led by Michael
Smith, Scott Jamieson
and Brandon Dickason
worked with seller Jon
Delli Priscoli of First
Colony Development on
that assignment which
resulted in a $14.5 mil-
CORPO RATE
19 Brigham St., Marlborough MA
lion purchase by Ivy Realty of Greenwich.
“The park generated a lot of interest
given its diverse mix of high-quality, credit tenants and low vacancy,” Smith
recounts in a press release announcing the
agreement involving 169,225 sf of flex,
office and research space at 19 and 41-53
Brigham St. There were 31 companies on
the tenant roster at the time of Brigham
Business Park’s trade, denizens occupying
R ETAIL
space levels as little as 1,500 sf and including such established credit firms as Ambri
Inc., Carquest Auto Parts and Fastenal Co.
Even as the property was being
pitched to potential buyers, Avison Young
was working to fill more space at Brigham
Business Park, and those efforts bore fruit
when AT&T committed to the biggest
commitment to date at the park last
H O S PITA LITY
continued on page 26
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January 2, 2015
THE REAL REPORTER
3
JPMorgan Lends Jamestown
$68.2 M for Davenport Asset
Davenport Building, 25 First St., Cambridge MA
We work harder
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results for you,
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AMBRIDGE — They started December off funding the $113
million industrial portfolio bought by Prudential Real Estate
Investors from Prologis, and JPMorgan Chase Bank put a
nice bow on the holiday season and a busy 2014 via a $68.1 million financing of 25 First St. for new owner Jamestown, the real
estate investment giant which acquired the four-story, 220,000sf office building in November for $136.0 million through
Cushman & Wakefield.
Originally constructed in 1860, the Davenport Building converted to office use in 1987 has undergone $18 million in
improvements to compete with gleaming office towers dominating Kendall Square where rents are now approaching $80 per sf.
Jamestown made its initial foray into the Cambridge market in
Dec. 2013 when it paid $192 million for 245 First St., and the
firm now has an urban fiefdom covering core districts including
Boston’s Back Bay and Seaport.
No official declaration has been made regarding the
Davenport financing, including whether there were any brokerage professionals involved arranging the loan, but such deals
have been growing as rates remain at record lows and CMBS
monies wend their way into the picture, as demonstrated in the
latest Real Reporter Million Dollar Lending and Sales Report in
this week’s issue, one including the Davenport financing and
multiple others from JPMorgan Chase Bank and a broad range of
national and regional competitors whose collective activity has
been unyielding. Other JPMorgan Chase Bank loans in the latest
Real Reporter list include $6.8 million for 350 Worcester Rd. in
Framingham, $1.48 million for 1663 Lowell Rd. and $4.2 million
backed by 126 Woodland Rd. in Brookline.
As indicated above, and previously detailed in an earlier Real
Reporter minus the precise loan amount, JPMorgan delivered a 50
percent LTV mortgage to Prudential Real Estate and Spaulding &
Slye Investors in early December that facilitated one of New
England’s largest industrial portfolio trades ever, the 19-building,
1.7-million sf package negotiated through Eastdil Secured.
Principals handling that deal were unable to discuss details at the
time, but Registry of Deeds records now show the loan for
$57,000,000, a note backed by assets in Brockton and Mansfield. n
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THE REAL REPORTER
4
January 2, 2015
Drinkwater, Richard Cap 2014 on $11M+ Run
S
OUTH PORTLAND, ME — Maine is
famous for its allure as a vacation destination, but the Marcus & Millichap
investment sales team of Laurie Ann
Drinkwater, CCIM, and
Seth J. Richard were
here strictly on business
to handle the net-leased
sale of a Napa Auto
Parts store, a $1.64 million deal that was
among a trio of late-seaLaurie Ann (L.A.) Drinkwater son closings to wrap up
another busy year for
the duo with a bang, the
other two trades being a
bank
property
in Napa Auto Parts, South Portland ME
Waterbury, VT, and a investor involved in a 1031 tax deferred
Midwestern assignment exchange. Situated at 65 Market St. in
harvesting a shopping Maine’s largest MSA, the Napa Auto Parts
center in Mentor, OH, unit benefits from being at a four-way sigSeth J. Richard
that brought $8.7 mil- nalized intersection between the Mill
lion for their client, a New York-based Creek Shopping Center and a Shaw’s
investor.
Supermarket-anchored plaza. The listing
The South Portland listing was under- was secured through Marcus & Millichap’s
taken on behalf of its buyer, a regional San Francisco office, a team which
worked with Drinkwater and Richard plus
the firm’s broker of record in Maine,
Adrian Harris.
According to public records, the seller of
65 Market St. was GP South Portland ME
Landlord LLC, an affiliate of Georgia-based
SunTrust Equity Funding, which had only
held the 7,950-sf asset since paying $1.28
continued on page 26
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THE REAL REPORTER
January 2, 2015
5
JLL Finishes 52,000-SF Carbonite HQ Project
B
OSTON — Providing another boost
to the city’s resurgent Downtown
Crossing, computer information
backup giant Carbonite Inc. recently
opened its new headquarters at Lafayette
City Center at 2 Avenue de Lafayette. The
52,000-sf facility will accommodate up to
400 employees at the building which is
owned by the Abbey Group.
Working on the fit out of Carbonite’s
sixth floor space was JLL along with project team members IA Interior Architects,
WB Engineers-Consultants, Environments
at Work and Columbia
Construction. According
to a press release from
JLL, whose PDS team
was represented on the
project by Thomas
O’Connor and Sarah
Swanson, an “industrial
Thomas O’Connor chic” design was incorporated to “bring the
comforts of home into
the workplace through
thoughtful
detailing,
exposed ceilings, the use
of reclaimed materials,
wide plank floors and a
central hearth,” eleSarah Swanson
ments balanced by sleek
glass office fronts and “refined finishes.”
Designers also sought to “pay homage
to Carbonite’s history and brand through
subtle references to Star Wars,” the
release continues in explaining the company name was inspired by Hans Solo and
The Empire Strikes Back, and that is displayed in a variety of ways including architecture detailing with carbonite-inspired
reclaimed metal and modernized Star
Wars environmental graphics. “What an
amazing experience it was to collaborate
on this project,” IA Interior Architects
Managing Principal Reetika Vijay remarks
in the release in praising the collective
team for the way it “used the force” to create an integrated space where brand, business drivers, environment, technology and
wellness merge. “Carbonite defined the
vision and the entire team jumped on
board to implement,” Vijay recounts. “It
was truly an integrated effort.”
The floor plate is designed to have
departmental “neighborhoods” while preserving the open concept being embraced
RR many
JR pg
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spaces offering work settings from small
one- to two-person focus rooms to larger
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177 Huntington Ave. in the Back Bay,
Carbonite nearly doubled its foot print while
creating a space that can support continued
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continued on page 28
THE REAL REPORTER
6
January 2, 2015
Photo: Derek Szabo
Cassidy Turley 2014 Review
Shows Broad CRE Recovery
BY MIKE HOBAN
B
Bill: Page six story with Derek skyline photo and picture
of Michael Dalton … No need for a jump page photo
but run on either page six or the jump the following pull
quote and attribute it to Michael Dalton, Cassidy Turley
‘I think in 2015 we will see a lot of people making decisions and commitments.’ … Thanks … JC
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OSTON — Boston posted its strongest leasing year in nearly a decade, Cambridge’s lab and office markets continue to
tighten, and while activity in the suburbs remains statistically flat, build-to-suit construction featuring retail and restaurant
amenities are attracting large users to the central Route 128 corridor, according to the 2014 year-end overview by Cassidy Turley.
“The suburbs are continuing to track some
of the positive news that we’re seeing in
Cambridge and Boston,” Cassidy Turley
Corporate Advisory principal and suburban
specialist Michael Dalton tells Real Reporter
this week following release of the firm’s Q4
market report. “It’s a little bit slower pace, but
it’s definitely picking up steam,” Dalton
Michael Dalton
explains, adding, “The trend that we’ve seen
in the suburbs is that those towns with retail amenities that offer
another life outside of the office are continuing to do better than
(the markets that don’t).”
There is currently more than
2.5 million sf of build-to-suit office
I think in 2015 we will
construction underway, much of it
see a lot of people
in amenity rich Waltham where
making
decisions and
Wolverine Worldwide is taking
commitments.
152,000 sf at Boston Properties’ 10
City Point building and Vistaprint
will be the sole tenant at the
MICHAEL DALTON
315,000-sf 275 Wyman St. in
Cassidy Turley
Hobbs Brook Office Park. Waltham
ended 2014 with a vacancy rate at 12.4 percent and an average
asking rate of $28.61 per sf across all classes, but premium space
in the new and redeveloped properties is cresting the $40 mark.
Along the Route 128 corridor from Burlington to Wellesley, the
vacancy rate is 11.8 percent and asking rents are averaging
$27.89 per sf, with rents in Wellesley leading the way at $37.39
per sf for the office market totaling two million sf.
Boston totaled 1.8 million sf of total absorption in 2014 in the
Cassidy Turley review, giving the Hub its highest total since
2005, with the Financial District (931,316 sf) and the Seaport
”
continued on page 27
7
THE REAL REPORTER
January 2, 2015
Booming Waltham Delivers
Record 2014 at Commodore
Early
rate lock
available
Great rates for
Boston apartment
building owners.
1265 Main St., Waltham MA
BY MIKE HOBAN
W
ALTHAM — For Joe Albanese, the suburban office market
resurgence could not have been more well-timed—or
well-located. Following acquisition of 60-year old construction firm A.J. Martini in December 2012, the founder and
CEO of Newton-based Commodore Builders has seen its construction management business grow exponentially, with a good
chunk of the activity coming from the epicenter of that market.
And not only is the new work located primarily in the firm’s
backyard, Albanese and Commodore/Martini have deep personal and professional ties to the city of Waltham.
“It is really all about Waltham. It’s known for its commercial
real estate, and they’ve done a good job in
developing it and providing a solid tax base for
the city,” conveys Albanese. “We’re very familiar with the city, it’s close to our office here
and we’ve done a lot of work there. And my
family grew up in Waltham after my grandparents came from to this country from Sicily.”
With an aging suburban office stock and
Joseph Albanese
tenants in the market demanding new and
improved office space, Waltham was ripe for redevelopment and
large scale ground up construction, the latter of which
Commodore hoped to do more of with the strategic Martini acquisition. “We have the maturity of an organization that is over a
decade old (12 years) that has acquired a 60-year-old company,”
Albanese says of the firm’s expanded project scope. “So the relative experience that we gained with the Martini portfolio and
some of the larger projects that they’ve done in their 60-year history allowed us to break through the barrier.”
That shift is exemplified by three high-profile, ground-up
projects Commodore is currently working on that are emblematic of the Watch City building boom: 1265 Main Street, the
280,000-sf mixed use retail/office project being developed by
Tewksbury-based Retail Management & Development Inc.
anchored by a 90,000-sf Market Basket (that opened just after
Thanksgiving) as well as a Marshalls, Starbucks and a couple of
continued on page 30
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THE REAL REPORTER
8
January 2, 2015
40 Pequot Way, Canton MA
The Real Report
continued from page 1
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and manufacturing plant at 10 Pequot Way
being pushed into foreclosure, with Wells
Fargo Bank taking back the note in Jan.
2010 at a cost of $7.8 million.
The upshot of that action was a summer
2011 sale of 10 Pequot Way to Equity Anthony Hayes
Industrial Partners, the Needham-based
investor with a national portfolio focused as
its name suggests on the industrial arena, but
more than willing to shift gears and purchase
Tweeter’s high-end office asset at a bargain
basement $3.7 million, with Boston Private
Bank & Trust Co. funding the deal via a $7.7
million mortgage, as detailed by Real
Reporter in July of that year that also Michael McLaughlin
unveiled a full-building lease inked by Lojack
Corp. negotiated by NAI/Hunneman principal Catherine Minnerly. Now, EIP has
harvested the asset in a $9.6 million sale brokered by Colliers International, whose
Capital Markets team flushed out a New York
investor looking to complete the back end of
a 1031 tax deferred exchange. In return,
Pequot 161 Ventures LLC and manager Timothy Mulhall
Maria Rowena Manalo have control of a net-leased property
with plenty of term remaining, the pact extending to 2025
according to one document.
While declining to identify Manalo or discuss aspects of the
property, Colliers principal Douglas Jacoby confirms the
CRE firm did advise the buyer on the transaction, with others on
the team including Scott Dragos, Anthony Hayes, Michael
McLaughlin and Timothy Mulhall. Its trade put the finishing
touches on an active 2014 for the Colliers investment sales crew
that has plenty to carry over into the new year, including the
pending sale of 100 Cambridge St. in Boston’s Government
Center to Intercontinental Real Estate Corp. as first relayed
by Real Reporter on Dec. 23rd, and the team is also near a conclusion on the disposition of three Franklin Street assets,
office/retail properties totaling 68,000 sf being acquired by
Zurich Asset Management for more than $28 million, or $415
n
per sf.
THE REAL REPORTER
January 2, 2015
9
Commercial Deals
MILLION DOLLAR MORTGAGES/SALES DECEMBER 15 - DECEMBER 24, 2014
DEC 24TH
MTG: $24,830,000 from Wells Fargo Bank
ADD: 18 Independence Dr. & 66 Saratoga Blvd., Ayer
BWR: CIP Independence Drive LLC, managed
by CrossHarbor Capital Partners
BUYER: Madison Botolph II Limited Partnership,
mgd. by Madison Park Development Corp.
SELLER: Madison Botolph Limited Partnership,
managed by Madison Park Development Corp.
PRICE/ADD: $22,049,000; 351-367
Massachusetts Ave., Boston
MTG: $8,404,400 from Madison Park
Development Corp. and $14,500,000 from
Eastern Bank
NOTES: Multifamily property, constructed
1899, renovated 2007; 52 units; building size
is 46,200 sf, lot size is 18,500 sf; last sold for
$13,400,000 in May 2013
BUYER: ARC FEBILMA001 LLC, mgd. by American
Realty Capital Global Operating Partnership LP
SELLER: Natmi National Billerica LLC, managed by NATMI National Truck Terminals
PRICE/ADD: $9,300,000; 19 Republic Rd., Billerica
NOTES: Industrial property, constructed 1975;
truck terminal; 25,250 sf, lot size is 6.3 acres;
last sold for $6,400,000 in Sept. 2010
MTG: $5,270,900 from Webster Five Cents SB
ADD: 1660 Hyde Park Ave., Boston; and 792794 and 796-800 Hartford Tpk., Shrewsbury
BWR: TREC LLC, managed by Bryan T. Rich
MTG: $5,025,000 from TD Bank
ADD: 110 Canal St., Lowell
BWR: Trinity Freudenberg Limited Partnership,
managed by Trinity Financial, James G. Keefe,
president; Patrick A.T. Lee, treasurer and secretary
MTG: $4,625,000 from East Boston SB
ADD: 125 Mountain Overview, Malden
BWR: Malden Young Men’s Christian
Association, managed by Elizabeth Hart, president; Patricia Morrow, treasurer
BUYER: Codman Academy Realty Corp., managed by Thabiti Brown, president and treasurer
SELLER: Codman Academy Foundation Inc., mgd.
by Mary Weber, president; Bill Wall, treasurer
PRICE/ADD: $2,660,000; 618-638 Washington
St., aka 363-367 Talbot Ave., Dorchester
NOTES: Office property, const. 1900, renovated 2007; bldg. size is 25,400 sf, lot size is
13,950 sf; last sold for $180,000 in Dec. 1988
MTG: $2,000,000 from Hingham
Institution for Savings
ADD: 17-19 Grove St. & 70-72 Union St., Methuen
BWR: Kevin French
Eastdil Secured has completed its $244.8 million sale of the Revere Hotel Boston Common to
Pebblebrook, which has taken over the 325-room Back Bay inn that underwent an extensive renovation
and expansion following the prior purchase of the former Radisson Hotel at 210 Stuart St. Eastdil
advised the seller, Northwood Hospitality, which had paid $143,500,000 for the hotel and attached
garage in Oct. 2010. Inquiries regarding the deal that was first unveiled by the Real Reporter in August
were not returned by the Eastdil team whose members include Brian Barnett, Peter Joseph, Sarah
Lagosh, James McCaffrey and Christopher Phaneuf.
MTG: $1,400,000 from Century B&T Co.
ADD: 88-98 Hicks Ave., Medford
BWR: Robert A. Cagiano, trustee of TCRC
Realty TR
MTG: $1,200,000 from East Boston SB
ADD: Junction Lane, Hamilton
BWR: Race Realty LLC, managed by Andrea
Costa Caruso and Ralph Caruso
MTG: $1,100,000 from East Boston
Savings Bank
ADD: 33 Carey Ave., Units 3, 4 and 6; 39
Carey Ave., U-6; and 205 Webster Ave., Boston
BWR: Boberin Rentals LLC, managed by
Robert S. Corcoran
DEC 23RD
MTG: $68,210,000 from JPMorgan Chase Bank
ADD: 25 First St., Cambridge
BWR: Jamestown Premier Davenport LLC,
managed by Jamestown
BUYER: DIV Cabot Road LLC, mgd. by the Davis Cos.
SELLER: Cabot Road Owner-VEF IV LLC, managed by Ares Management, NYC
PRICE/ADD: $53,000,000; 1 Cabot Rd., Medford
NOTES: Office property, constructed 1988;
building size is 357,000 sf, lot size is 8.9 acres;
last sold for $50,000,000 in July 2006
BUYER: PCH RP1 LLC, mgd. by Steve Samuels
SELLER: 1440 N8 Owner LLC, managed by
Nordblom Co. and Westbrook Partners
PRICE/ADD: $50,150,000; 1440 Beacon St.,
Brookline
MTG: $21,200,000 from New York Life
Insurance Co.
NOTES: Multifamily property, constructed
1949; 136 units; building size is 97,800 sf, lot
size is 22,500 sf; last sold for $35,000,000 in
March 2012
BUYER: 140 Northern Avenue LLC, managed
by Tishman Speyer
SELLER: Pier 4 Associates 3 LLC, managed by
New England Development
PRICE/ADD: $40,457,110; 140 Northern
Ave., Boston
NOTES: Mixed-use property; former Anthony’s
Pier Four Restaurant; lot size is 5.4 acres combined with 130 Northern Ave. Boston; property
last sold along with 130 Northern Ave., for
$48,656,362 in May 2012; see related deed
this date below
BUYER: Mandela Preservation LLC, managed
by Beacon Communities
SELLER: Mandela Homes Limited Partnership,
managed by BRP Mandela Corp., c/o Beacon
Communities
PRICE/ADD: $35,808,000; 34 Hammond St.,
586 Shawmut St. and 53 Windsor St., Boston
MTG: $19,000,000 from Mandela Homes
Limited Partnership and $40,000,000 from
Citibank
NOTES: 34 Hammond St. a multifamily property, constructed 1972; building size is 51,050
sf, lot size is 1.7 acres; 586 Shawmut Ave. a
mixed-use property, constructed 1965; commercial and residential; building size is 93,275
sf, lot size is 2.7 acres; 35 Windsor St. a land
parcel; lot size is 30,200 sf; properties last sold
for $986,420 in Oct. 1998
continued on page 10
THE REAL REPORTER
10
January 2, 2015
Commercial Deals
MILLION DOLLAR MORTGAGES/SALES DECEMBER 15 - DECEMBER 24, 2014
continued from page 9
BUYER: 130 Northern Avenue LLC, managed
by Tishman Speyer
SELLER: Pier 4 Associates 2 LLC, managed by
New England Development
PRICE/ADD: $29,542,890; 130 Northern Ave., Boston
NOTES: Mixed-use property; former Anthony’s
Pier Four Restaurant; lot size is 5.4 acres combined with 140 Northern Ave., Boston; last sold
along with 140 Northern Ave., for $48,656,362
in May 2012; see related deal this date above
MTG: $16,212,000 from Berkley Point Capital LLC
ADD: 295 Broadway St., Malden
BWR: Maplewood Place Associates LLC, managed by Atria Senior Living, Louisville KY
BUYER: Dedham Medical Associates Inc.,
managed by Scott R. Perman, MD, president
SELLER: Dedham Medical Associates
Partnership, managed by Scott R. Perman, MD,
president, c/o Dedham Medical Associates Inc.
PRICE/ADD: $16,000,000; One Lyons St. and
229, 233, 235 and 245 West St., Dedham
NOTES: One Lyons St. an office property, constructed 1976; building size is 62,100 sf, lot size
is 11 acres; 229, 233, 235 and 245 West St. are
land parcels; lot size totals 5.6 acres; seller’s
ownership in properties dates to Dec. 1976
MTG: $178,355 from WinnDevelopment
Co. Limited Partnership and $694,512,
$2,365,000 and $14,820,300 from
Massachusetts Housing Finance Agency
ADD: 21 Salisbury St., Worcester
BWR: Voke Lofts Limited Partnership, managed
by Winn Development Co.
MTG: $13,000,000 from Eastern Bank
ADD: 25, 35 and 37 Upton Dr., Wilmington
BWR: 25 Upton Dr. LLC, 35 Upton Dr. LLC and
37 Upton Dr., LLC, managed by Peter R.
Crocker, William Jackson and Robert P. Maloney
MTG: $12,320,000 from Washington Trust Co.
ADD: 97 Revere Beach Pkwy., Medford
BWR: LAZ Boston Commuter Lots LLC, managed by Alan Lazowski, Hartford
MTG: $10,300,000 from Belmont Savings Bank
ADD: 99, 101 and 103 Cedar St., Milford
BWR: Quarry Place Two LLC, managed by
Meehan Realty Management Corp., Kevin P.
Meehan, president and treasurer
MTG: $10,079,000 from Walpole
Cooperative Bank
ADD: 1833 Massachusetts Ave., Lexington
BWR: Giroux Building LP, managed by James
A. Manganello, president and treasurer
Parties involved are remaining mum for the moment, but Suffolk Registry of Deeds records affirm rumors
unveiled in the last Real Reporter indicating a change in control at Boston’s 1000 Washington St., the
former Teradyne headquarters converted to a multi-tenanted office building by CarVal and the Nordblom
Co. after its $34,750,000 purchase in Sept. 2006. A $75,000,000 infusion from Rubenstein Partners has
taken out CarVal’s position in the imposing 101-year-old structure that totals 242,000 sf. The new partnership and broker HFF have not responded to inquiries on the deal that has Nordblom in as operating
partner. HFF Senior Managing Director Riaz Cassum and Director Lauren O’Neil Goff were reportedly
overseeing the assignment.
BUYER: SS Falmouth LLC, managed by Kurt E.
O’Brien, c/o CCN Storage Partners, Orlando FL
SELLER: Storage Pros Falmouth LLC, managed
by Ian M. Burnstein, Michigan
PRICE/ADD: $8,482,997; 33 Village Common
Dr., Falmouth
MTG: $14,795,000 from Starwood
Mortgage Capital LLC
NOTES: Industrial property, constructed 1997;
building size is 40,400 sf, lot size is 4.1 acres;
last sold for $4,600,000 in Aug. 2009
MTG: $7,240,000 from Bank of America
ADD: Sayles Street, Southbridge
BWR: Theriac Enterprises of Harrington LLC, mgd.
by Daniel E. Dosoretz, c/o DDM LLC, Fort Myers FL
BUYER: GCP Shawmut LLC, managed by
Jeffrey C. Clary and Joseph E. Norberg Jr., c/o
Grander Capital Partners
SELLER: APCA Shawmut Road LLC, managed
by Paradigm Properties
continued on page 11
THE REAL REPORTER
January 2, 2015
11
Commercial Deals
MILLION DOLLAR MORTGAGES/SALES DECEMBER 15 - DECEMBER 24, 2014
continued from page 10
PRICE/ADD: $5,900,000; 110 Shawmut Rd., Canton
MTG: $4,515,000 from Boston Private B&T Co.
NOTES: Industrial property, constructed 1987;
building size is 70,350 sf, lot size is 5.3 acres;
last sold for $6,750,000 in April 2007
MTG: $5,000,000 from MutualOne Bank
ADD: 171 Locke Dr., Marlborough
BWR: Capital One Partners Group LLC, mgd.
by Marcello Mallegni
MTG: $4,650,000 from Northern B&T Co.
ADD: 39 Park Ave., Wakefield
BWR: Patrick J. Keohane, trustee of 39 Park
Avenue Realty Trust
BUYER: Ann M. Busnach and Joseph J.
Dovidio, trustees of Summit Realty TR
SELLER: 252 Revere Beach Parkway LLC, mgd. by
Michael Sullivan, c/o Trident Management, Reading
PRICE/ADD: $4,525,000; 252 Revere Beach
Pkwy., Chelsea
MTG: $3,559,000 from Greystone Servicing Corp.
NOTES: Multifamily property, const. 1967; 32
units; building size is 32,600 sf, lot size is
24,775 sf; last sold for $3,708,230 in Oct. 2011
MTG: $4,400,000 from South Shore Bank
ADD: 5-7 North Margin St., & 19 Stillman St., Boston
BWR: 19 Stillman LLC, managed by the Mount
Vernon Co.
BUYER: Ann M. Busnach and Joseph J.
Dovidio, trustees of Summit Realty TR
SELLER: 216 Revere Beach Parkway Realty TR,
managed by Michael G. Sullivan, c/o Trident
Management, Reading
PRICE/ADD: $4,225,000; 216 Revere Beach
Pkwy., Chelsea
MTG: $3,370,000 from Greystone Servicing Corp.
NOTES: Multifamily property, const. 1970; 32
units; building size is 28,500 sf, lot size is
3,950 sf; last sold for $3,075,770 in Oct. 2011
BUYER: Petruzziello Properties LLC, managed
by Antonio Petruzziello and Giorgio Petruzziello
SELLER: Alfred Magaletta Co., Inc., mgd. by
Alfred Magaletta, president and Barbara
Bourque, treasurer
PRICE/ADD: $4,200,000; 264, 266-278, 291295, 301-315, 317 and 317R Washington St.,
Westwood
MTG: $3,427,500 from Dedham Institution
for Savings
MTG: $3,700,000 from TD Bank
ADD: 421 Lowell St. and 330 and 334
Woburn St., Lexington
BWR: Mach Realty LLC, managed by Moses
Avakian and Charles C. Hajjar
After buying two downtown office and retail buildings in early November, Aegean Capital has secured a
$35,000,000 loan package from Brookline Bank. The loans of $5,992,000, $9,275,955 and $19,733,045
are backed by jewel box properties New York-based Aegean Capital paid $47,100,000 in a deal negotiated by CBRE/NE. The larger asset is 24 Federal St., which has 74,400 sf on 12 floors and was 71 percent
leased when purchased versus an 82 percent occupancy at 3 Post Office Square, an 11-story, 65,125-sf
building. Aegean Capital founder Constantine Alexakos has a lengthy history owning and operating CRE
in metropolitan Boston, with current holdings in the Seaport District on Summer Street.
MTG: $5,250,000 from Eastern Bank
ADD: 7, 11, 11A and 15 Cortes St., Boston
BWR: Caritas Project Place Cortes LLC, managed by Caritas Communities
MTG: $3,000,000 from Raymond C. Green Inc.
ADD: 53 Spectacle Pond Dr., East Falmouth
BWR: Reem Property LLC, managed by
Mohammad Abouchleih
MTG: $3,000,000 from Winchester SB
ADD: 304 Cambridge St., Cambridge
BWR: 304 Cambridge LLC, mgd. by Joseph A.
Martignetti and Ronald A. Martignetti
MTG: $2,989,000 from Santander Bank
ADD: 3 Dornick Rd. and 120, 122 and 124
Waterhouse Rd., Bourne
BWR: Waterhouse Properties LLC, managed by
Levon Semerjian
MTG: $2,440,000 from Eastern Bank
ADD: 50 High St. and 50 Pleasant St., Watertown
BWR: Jomar Distributors Inc., mgd. by Vincent
Donato, president; Elizabeth Donato, treasurer
MTG: $1,750,000 from Life Insurance
Community Investment Initiative LLC
ADD: 126 Main St., Spencer
BWR: South Middlesex Non-Profit Housing
Corp., managed by Bruce S. Holme, president;
Paul Prior, treasurer
MTG: $1,500,000 from Revere High Yield
Fund LP
ADD: 48 Town Farm Rd., Westminster
BWR: Ranor Inc., managed by Robert Francis,
president; Richard F. Fitzgerald, treasurer
MTG: $1,275,000 from Needham Bank
ADD: Gay Street, Lot 2B, Westwood
BWR: Cedar Development Inc., managed by
Stephen T. David, president and treasurer
continued on page 12
THE REAL REPORTER
12
January 2, 2015
Commercial Deals
MILLION DOLLAR MORTGAGES/SALES DECEMBER 15 - DECEMBER 24, 2014
continued from page 11
MTG: $1,250,000 from East Boston SB
ADD: 135 and 141 Arlington Rd., Brookline
BWR: 135 Arlington Road LLC, mgd. by Neal Gold
BUYER: JJ McCarthy LLC, mgd. by John McCarthy
SELLER: DRS Power Technology Inc., managed
by William J. Lynn III, Arlington VA
PRICE/ADD: $1,150,000; 2 Fox Rd., Hudson
MTG: $1,335,000 from Brookline Bank
NOTES: Industrial property; building size is
16,800 sf, lot size is 6.5 acres
MTG: $1,150,000 from East Cambridge SB
ADD: 925-927 Massachusetts Ave., Lexington
BWR: Lavelle Real Estate Management LLC,
managed by Brian O. Lavelle
MTG: $1,100,000 from Eastern Bank
ADD: 236-256 Dorchester St., Boston
BWR: Rashide LLC, mgd. by George H. Khoury
MTG: $1,040,000 from Avidia Bank
ADD: 2 Coolidge St., Hudson
BWR: Ravenswood Hudson Holdings LLC,
managed by Dana Edmondson
MTG: $1,000,000 from Cape Cod
Cooperative Bank
ADD: 1082-1094 Route 28, Yarmouth
BWR: Dewitt P. Davenport, trustee of Route 28
Realty TR
BUYER: Graziano High Street LLC, mgd. by Augustine
Graziano, James Graziano, and William Graziano
SELLER: MJTC Inc., managed by Mark F.
Chase, president and treasurer
PRICE/ADD: $1,000,000; 55 High St., Holbrook
MTG: $750,000 from MJTC Inc.
NOTES: Industrial property, constructed 1940;
building size is 165,825 sf, lot size is 100,200
sf; last sold for $125,000 in March 1996
MTG: $1,000,000 from Boston Private B&T Co.
ADD: 16-18 Centre St.; 1 and 15-27 Highland
Ave.; and 48-50 John Eliot Sq., Boston
BWR: Roxbury Highland LLC, mgd. by E. Denis Walsh
MTG: $1,000,000 from Raymond C. Green
Funding LLC, St. Financial LLC and Reality
Capital LLC
ADD: 3 South Stone Mill Dr., U-229, Dedham
BWR: Reem Property LLC, managed by
Mohammad Abouchleih
DEC 22ND
BUYER: 1000 W Acquisition LLC, managed by
Rubenstein Partners
SELLER: Teraview Investments LLC, managed
by CarVal and Nordblom Co.
Via a JLL Capital Markets exclusive, Albany Road Real Estate Partners has purchased a value-add asset
in the Westboro Executive Park, paying Cornerstone Real Estate Advisers $20,800,000 for the threebuilding, 216,000-sf park at 110, 112 and 114 Turnpike Rd. that dates to the early 1980s. Having
fetched $31,600,000 in June 2006, the park fell into foreclosure after the 2008 recession, but
Cornerstone has brought occupancy above 80 percent since summer 2012. East Boston Savings Bank
loaned $19,300,000 to Albany Road, a private investment group led by President Christopher Knisley.
The Westboro Executive Park’s listing was run by JLL Managing Directors Frank Petz and Jessica Hughes
and Vice President Matthew Sherry.
PRICE/ADD: $75,000,000; 1000 Washington
St., f/k/a 321 Harrison Ave., Boston
NOTES: Office property, const. 1914, renovated
2009; building size is 242,000 sf, lot size is 1.8
acres; last sold for $34,750,000 in Sept. 2006
BUYER: One Dalton Owner LLC, managed by
Carpenter & Co.
SELLER: The First Church of Christ, Scientist
PRICE/ADD: $65,636,250; 1-7 Dalton St., Boston
MTG: $500,000,000* from Talos Capital Ltd.
NOTES: Land parcel; buyer developing mixeduse property on site; *construction loan
BUYER: MEPT/LMP Harrison/Albany Block
LLC, managed by Leggat McCall Properties
SELLER: Boston Medical Center Corp., David Beck
PRICE/ADD: $28,600,000; 595 Albany St., Boston
MTG: $13,000,000 from Eastern Bank
ADD: 8 Essex Center Dr., Peabody
BWR: 8 Essex Center Drive LLC, mgd. by Peter
Crocker, William Jackson and Robert Maloney
BUYER: MEPT/LMP Gambro Building LLC,
managed by Leggat McCall Properties
SELLER: Boston Medical Center Corp., managed by David Beck
PRICE/ADD: $12,000,000; 660 Harrison Ave., Boston
BUYER: CPI 20 Seyon LLC, mgd. by Calare Properties
SELLER: HRE Watertown LLC, managed by
Hilco Real Estate
PRICE/ADD: $11,000,000; 20 Seyon St., Watertown
MTG: $72,500,000 from Blue Hills Bank
NOTES: Industrial property, constructed 1981;
building size is 95,000 sf, lot size is 5.5 acres;
last sold for $4,750,000 in Dec. 2013
BUYER: Podium Owner LP
SELLER: Boston Garden Development Corp,
Amy Latimer, Charles Moran Jr. and Rajat Shah
PRICE/ADD: $10,865,010; 80 Causeway St., Boston
BUYER: Meera LLC, managed by Ashok Patel
SELLER: Redus Wakefield LLC, managed by
Redus Properties Inc
PRICE/ADD: $9,600,000; 1 Audubon Rd., Wakefield
MTG: $960,000 and $6,720,000 from
Northern Bank & Trust Co.
NOTES: Hotel property, constructed 1985; 285
rooms; building size is 138.875 sf, lot size is 5.8
acres; last sold for $29,000,000 in Sept. 2006
MTG: $7,180,000 from Leader Bank
ADD: 56, 60-70 and 72-82 Franklin St. and 620 Portland St., Worcester
continued on page 13
THE REAL REPORTER
January 2, 2015
13
Commercial Deals
MILLION DOLLAR MORTGAGES/SALES DECEMBER 15 - DECEMBER 24, 2014
continued from page 12
BWR: Worcester Franklin Holdings LLC and
Worcester Park Plaza LLC, mgd. by John McGrail
MTG: $4,600,000 from Clinton Savings Bank
ADD: 230 Commonwealth Ave., Boston
BWR: 230 Commave LLC, mgd. by David Pogorelc
MTG: $4,300,000 from Wellesley Bank
ADD: 36-58 Dedham Ave., Needham
BWR: Brookline Development Corp. LLC, managed by Jeffrey M. Feuerman
MTG: $3,800,000 from Greystone Servicing Corp.
ADD: 423 and 435 Shirley St., Winthrop
BWR: Ann M. Busnach and Joseph J. Dovidio,
trustees of Crystal Cove Realty TR
MTG: $3,750,000 from Wells Fargo Bank
ADD: 21 Great Republic Dr., Gloucester
BWR: Twenty-One Great Republic LLC, mgd.
by Jordan J. Mazzetta and Thomas J. Mazzetta
MTG: $3,150,000 from North Shore Bank
ADD: 527 Salem St., Lynnfield
BWR: Windsor Court LLC, managed by Gregg
Monastiero and Regina Monastiero
MTG: $2,040,000 from TD Bank
ADD: 585 Middlesex St., Lowell
BWR: Nokode Holdings LLC, mgd. by Peter
Delano, Kenneth Koornneef and Abhijit Nobis
MTG: $2,000,000 from Clinton Savings Bank
ADD: 775 Parker St., Units 1-1, 1-2, 2-1, 2-2,
2, 3-1 and 3-2, Boston
BWR: Pam & Stone LLC, mgd. by JS Management LLC
MTG: $1,550,000 from Digital Federal CU
ADD: 33 Glen Ave., Chelmsford
BWR: PCA Partners LLC, mgd. by Donald VanDyne Jr.
BUYER: Peabody Essex Museum Inc., mgd. by
Robert Shapiro, pres.; C. Richard Carlson, treas.
SELLER: Kiernan Properties LLC, managed by
Russel W. Kiernan and Priscilla McInnis
PRICE/ADD: $1,400,000; 135 Essex St., Salem
NOTES: Mixed-use property
MTG: $1,114,000 from South Eastern
Economic Development Corp.
ADD: 40 Hudson Rd., Canton
BWR: Phoenix Electric Corp., mgd. by Thomas
P. Clark, president; Stephen G. Simo, treasurer
MTG: $1,100,000 from East Boston SB
ADD: 42 W. Baltimore St., U-25, 148 S.
Common St., 458-460 Eastern Ave., 5-7
Goodridge St., U-21; and 9 Union Pl., Lynn
BWR: Boberin Rentals LLC, managed by
Robert S. Corcoran
Nearly 15 years after paying $545,000 to buy 784-788 Main St. in Winchester, its family ownership has
harvested the nondescript industrial building for twice as much in a $1,100,000 exchange with Main &
Clark LLC, an entity managed by Paul Albiani who received hometown financing of $1,400,000 from
Winchester Savings Bank. Dating to 1962, 784-788 Main St. totals just above 7,000 sf and is located
on a 13,700-sf parcel near Elliot Park. The initial purchase in May 2000 was made by SND Realty Corp.,
whose principals are President Nicholas R. Sacca and David J. Sacca. It was later transferred to 784 Main
LLC, the entity selling to Main & Clark.
DEC 19TH
BUYER: KKOTB, managed by Pebblebrook
SELLER: NWBR LLC, mgd. by Northwoods Hospitality
PRICE/ADD: $244,803,485; 210 Stuart St., Boston
NOTES: Hotel property, constructed 1971, renovated 2009; Revere Hotel Boston Common; 325
rooms; building size is 546,150 sf, lot size is 1.5
acres; last sold for $143,500,000 in Oct. 2010
BUYER: Pondview JV Owner LLC, managed by
CarVal and Nordblom Co.
SELLER: BGI Holdings III LLC, managed by
Great Point Investors
PRICE/ADD: $34,000,000; 150, 200, 290, 295, 400,
450 and 500 Donald J. Lynch Blvd., Marlborough
MTG: $25,500,000 from Cambridge SB
NOTES: Office properties and ancillary uses;
seven buildings totaling 495,000 sf, lot size is
163 acres; seller acquired property in Dec. 2000
MTG: $19,732,045 from Brookline Bank
ADD: 3 Post Office Sq., Boston
BWR: Peabody Equity Partners LLC, managed
by Aegean Capital LLC
MTG: $10,000,000 from Shem Creek East
Boston HG LLC
ADD: 746 Bennington St., Boston
BWR: 746 Bennington LLC, managed by HG
Eastie Borrower LLC
MTG: $7,940,000 from Cantor Commercial
Real Estate Lending
ADD: 1075 Broadway, Saugus
BWR: Sophia Equities LLC, managed by
Lawrence L. Devine
MTG: $6,182,500 from Salem Five Cents SB
ADD: 101 Willow St., Reading
BWR: Austin Preparatory School
BUYER: KNOTB, managed by Pebblebrook
SELLER: Stuart Street Development LLC, managed by Jonathan Wang
PRICE/ADD: $5,000,000; 212 Stuart St., Boston
NOTES: Retail property, const. 1939, renovated 1997; building size is 10,200 sf, lot size is
3,175 sf; last sold for $3,300,000 in Oct. 2012
MTG: $4,340,000 from Prudential
Affordable Mortgage Co. LLC
ADD: 189-203 Britton Ave., Stoughton
BWR: Britton Avenue Realty LLC, managed by
Stuart Levey and Robert Merowitz
MTG: $3,450,000 from Massachusetts
Housing Finance Agency
ADD: 10-12 First St., Salem
BWR: Pequot II Limited Partnership, managed
by Lawrence H. Curtis
BUYER: WDC Concord Hotel LLC, managed by
Mark Stebbins and Robert E. Shapiro, c/o
Waterford Development Corp.
SELLER: Normandy 300 Baker LLC, managed
by Normandy Real Estate Partners
PRICE/ADD: $2,952,491; 320 Baker Ave.,
Concord
MTG: $12,665,250 from Bank of New
England
NOTES: Land parcel; portion of 71 acres
secured by seller in Aug. 2013
continued on page 14
THE REAL REPORTER
14
January 2, 2015
Commercial Deals
MILLION DOLLAR MORTGAGES/SALES DECEMBER 15 - DECEMBER 24, 2014
continued from page 13
BUYER: Coast 2 Coast Real Estate Holdings
LLC, managed by Stephan Chernysh
SELLER: Robert J. Farrell Jr.
PRICE/ADD: $2,500,000; 251 Turnpike Rd.,
Southborough
MTG: $1,611,000 from Marlborough SB
NOTES: Office property, constructed 1998;
building size is 15,250 sf, lot size is 1.9 acres;
last sold for $1,400,000 in Sept. 1986
MTG: $1,800,000 from MutualOne Bank
ADD: 370 SW Cutoff, Northborough
BWR: 920 LLC, managed by William Depietri
BUYER: Premier Inns LLC, managed by Stanley
J. Cottner and Dale J. Scaturro
SELLER: Robert W. Sanborn
PRICE/ADD: $1,564,500; 166 Commercial
St., Provincetown
MTG: $1,078,000 from Seamen’s Bank
NOTES: Mixed-use property, const. 1882; commercial and residential; building size is 2,825 sf, lot size
is 3,875 sf; last sold for $1,300,000 in Dec. 2007
Salem Five Cents Savings Bank has loaned $1,120,000 to EMF Realty LLC, funds engaged to acquire 911 DeAngelo Dr. in Bedford at a price of $1,400,000. The sellers are John J. Callahan Jr. and William J.
Callahan Jr., trustees of Meadowbrook Realty Trust, the 36-year-old structure’s owner since its $730,000
trade in Dec. 1986. EMF Realty is managed by Ronald Koning Jr. The building that totals 11,950 sf is
located on a 1.1-acre parcel close to Route 128 and its critical interchange at Route 3.
MTG: $1,100,000 from East Boston SB
ADD: 275 Elm St., Braintree
BWR: 275 Elm Street LLC, mgd. by John Tassinari
DEC 18TH
MTG: $1,550,000 from Salem Five Cents SB
ADD: 33 Colchester Rd., Weston
BWR: Cormier Home Construction LLC, mgd. by
Bernard Joseph Cormier & Francis Joseph Cormier
MTG: $15,000,000 from Cambridge SB
ADD: 1234-1240, 1244-1262 and 1268
Boylston St. and 10-21 Tully St., Brookline
BWR: Fredric H. Margolis, trustee of Durban TR
MTG: $1,350,000 from The Village Bank
ADD: 133 Dudley Rd., Newton
BWR: Dudley Realty Development LLC, mgd.
by William J. Fitzgerald and Cindy L. Stumpo
MTG: $11,000,000 from Nationwide Life
Insurance Co.
ADD: 400 Fifth Ave., Waltham
BWR: Prospect Fifth Ave LLC, managed by
Duffy Properties
BUYER: Welch Real Estate Group LLC, managed by James M. Welch
SELLER: East Coast Ventures LLC, managed by
Raymond T. Boschetto
PRICE/ADD: $1,300,000; 295 Littleton Rd.,
Chelmsford
MTG: $1,080,000* from Northern B&T Co.
NOTES: Industrial property, constructed 1971;
building size is 10,775 sf, lot size is 41,000 sf;
last sold for $475,000 in Oct. 2000; *loan also
covers 499 High St., Dunstable
MTG: $1,260,000 from First Ipswich Bank
ADD: 12 Lexington Ave., 18 Sargent St., U-2;
and 31 Willow St., U-A, Gloucester
BWR: 12 Lexington LLC, Sargent Street Unit 2
LLC and Willow Street LLC, mgd. by Eric Loiacano
BUYER: Main & Clark LLC, mgd. by Paul Albiani
SELLER: 784 Main LLC, mgd. by David Sacca
PRICE/ADD: $1,100,000; 784-788 Main St.,
Winchester
MTG: $1,400,000 from Winchester SB
NOTES: Industrial property, constructed 1962;
building size is 7,050 sf, lot size is 13,700 sf;
last sold for $545,000 in May 2000
MTG: $6,800,000 from JPMorgan Chase Bank
ADD: 350 Worcester Rd., Framingham
BWR: Christopher Connolly & Richard Connolly
MTG: $5,925,000 from Cambridge SB
ADD: 1065-1077 Lexington St., Waltham
BWR: Lexington Street Limited Partnership,
managed by Fredric H. Margolis
BUYER: 20 Sheafe Street LLC, managed by
Michael Olson
SELLER: Gaetano Federico
PRICE/ADD: $5,000,000; 20 Sheafe St., Boston
MTG: $5,960,000 from East Boston SB
NOTES: Multifamily property, constructed
1920; seven-plus units; building size is 7,350
sf, lot size is 2,050 sf; seller’s family inherited
property in May 1989
BUYER: 170 West Broadway LLC, managed by
Edward Dattoli
SELLER: Nick Kanellos and Penelope Kanellos
PRICE/ADD: $4,000,000; 170-174 West
Broadway, Boston
MTG: $11,175,000 from Salem Five Cents SB
NOTES: Retail property, constructed 1960,
renovated 2002; restaurant; building size is
2,025 sf, lot size is 13,300 sf; sellers acquired
property for $5,000 in Jan. 1997
MTG: $3,100,000 from Northern B&T Co.
ADD: 2 Merrill St., Salisbury
BWR: Charles A. Lagasse Jr.
MTG: $2,750,000 from Georgetown Bank
ADD: 1264-1290 Westford St., Lowell
BWR: Pisto Plaza LLC, mgd. by Surinder Bhardwaj
MTG: $2,500,000 from Eastern Bank
ADD: 87 Tyler St., U-1, Boston
BWR: Asian American Civic Association Inc.,
managed by Mary Chin
MTG: $1,875,000 from Belmont Savings Bank
ADD: 29 Everett Ave., Winchester
BWR: Robert Murray, trustee of Hickory Tree TR
MTG: $1,665,000 from Colonial Federal
Savings Bank and $1,810,000 from
Massachusetts Housing Partnership Fund
Board
ADD: 178-186 East Howard St., Quincy
BWR: Services of the South Shore Inc., managed by Robert Corley
BUYER: 577 Philip James L.L.C., managed by
Gerald Good Jr. and Timothy J. Good Sr.
SELLER: Anne Marie S. Powers, trustee of
Alton L. Realty TR
PRICE/ADD: $1,464,000; 577 and 578
Columbian St., Weymouth
MTG: $330,000 from Gerald Good Jr. and
$1,171,200 from Randolph Savings Bank
NOTES: Industrial property, constructed 1977;
building size is 14,100 sf, lot size is 20,000 sf
continued on page 15
THE REAL REPORTER
January 2, 2015
15
Commercial Deals
MILLION DOLLAR MORTGAGES/SALES DECEMBER 15 - DECEMBER 24, 2014
continued from page 14
MTG: $1,438,975 from Bridgewater SB
ADD: 40 Independence Rd., Kingston
BWR: Marilynn Realty LLC, managed by Kevin
Medeiros and Sheila R. Medeiros
BUYER: Priyanka Pepperell Realty LLC, mgd.
by Kaushik D. Patel
SELLER: Linear Retail Pepperell #1 LLC, mgd.
by Linear Retail Properties
PRICE/ADD: $1,375,000; 2 Tarbell St., Pepperell
MTG: $1,031,250 from Workers Credit Union
NOTES: Retail property, constructed 1985;
building size is 9,500 sf, lot size is 30,250 sf;
last sold for $900,000 in Nov. 2006
BUYER: 35 Willard Street LLC, managed by
Alvin J. Zink III and Scott W. Zink
SELLER: Nancy B. Carroll, trustee of Willard
Street Realty TR
PRICE/ADD: $1,215,000; 35 Willard St., Cambridge
MTG: $1,731,250 from Northern B&T Co.
NOTES: Three-family property, const. 1910; building size is 2,700 sf, lot size is 3,925 sf; seller’s
family ownership in property dates to April 1960
MTG: $1,200,000 from First Boston
Associates LLC
ADD: 106 Waverly St., U-1, Everett
BWR: Kems Holding Corp., managed by
Edward R. Dattoli
MTG: $1,050,000 from Bristol County SB
ADD: 1340 Belmont St.,, Brockton
BWR: Skye Enterprises LLC, managed by
Deana L. Welter-McHoul
DEC 17TH
MTG: $150,000,000 from Midland National
Life Insurance Co.
ADD: 125 Summer St., Boston
BWR: OPG 125 Summer Owner (DE) LLC,
managed by Oxford Properties Group
BUYER: IHP Medford (MA) Owner LLC, managed by Chatham Lodging Trust, Palm Beach
SELLER: IA Urban Hotels Medford LLC, managed by Scott Wilton
PRICE/ADD: $29,359,015; 116 Riverside
Ave., Medford
MTG: $615,000,000 from Bank of America
NOTES: Hotel property, const. 1997; 157 rooms;
building size is 97,850 sf, lot size is 35,275 sf;
last sold for $16,700,000 in May 2000
BUYER: Reep-Ind Aegean MA LLC, managed
by New York Life Investment Management
SELLER: AEW LT 14 Aegean Drive LLC, managed by AEW Capital Management
PRICE/ADD: $21,000,000; 14 Aegean Dr., Methuen
One of the few speculative industrial buildings constructed in Massachusetts during the new millennium
has found another institutional owner after a trade of 14 Aegean Dr. in Methuen by AEW Capital
Management, a $21,000,000 exchange involving a Gotham advisor affiliated with New York Life
Insurance Co. The 14-year-old facility encompasses 234,000 sf on a 17-acre land site. AEW Capital
Management has owned the building since paying $18,350,000 in Jan. 2006. The product type has
become increasingly coveted across New England due to a dearth of modern space and the improving
economy plus shifts in logistics favoring regional distribution centers.
NOTES: Industrial property, constructed 2001;
building size is 234,000 sf, lot size is 17 acres;
last sold for $18,350,000 in Jan. 2006
MTG: $4,439,639 from Massachusetts
Housing Finance Agency and $7,560,100
from Red Mortgage Capital LLC
ADD: 1 Coolidge Pl., Clinton
BWR: Oxford House Limited Partnership, managed by Elias Patoucheas
BUYER: Wellesley Residential LLC, managed
by Northland Residential Corp.
SELLER: G. Lawrence Langford
PRICE/ADD: $6,500,000; 135 Great Plain
Ave., Wellesley
MTG: $4,600,000 from Middlesex SB
NOTES: Multiple residential properties; main
house constructed 1890; house size is 5,875
sf, lot size is 12 acres
BUYER: Park at 95 LLC, managed by First
Highland, c/o Peter Murphy, Matthew
O’Connor and Jonathan Stott
SELLER: 780 Dedham Street Holdings LLC,
mgd. by CW Capital Asset Management LLC
PRICE/ADD: $6,425,000; 780 Dedham St., Canton
MTG: $5,250,000 from Salem Five Cents SB
NOTES: Industrial property, constructed 2001;
building size is 84,000 sf, lot size is 11.8 acres;
property foreclosed on in Feb. 2012 by
JPMorgan Chase Bank at value of $4,800,000
BUYER: Wakefield Sports LLC, mgd. by Rasik Patel
SELLER: Redus Wakefield LLC, managed by
Redus Properties Inc., Daniel Bartok, president;
James P. Nagle, treasurer
PRICE/ADD: $4,400,000; 425 Walnut St., Lynnfield
MTG: $3,520,000 from Northern B&T Co.
NOTES: Health club, constructed 1980; building size is 58,775 sf, lot size is 5.6 acres; portion of property acquired by seller in July 2010
MTG: $4,200,000 from Prudential
Affordable Mortgage Co.
ADD: 22 Pulaski St., Peabody
BWR: Strand Realty-Gardener LLC, managed
by Stuart Levey and Robert Merowitz
BUYER: 179 St. Botolph LLC, managed by The
Mount Vernon Co. Inc.
SELLER: Bernard G. Berkman, trustee of
Pilgrim Capital TR
PRICE/ADD: $3,900,000; 179 St. Botolph St.,
Boston
NOTES: Multifamily property, const. 1890; sevenplus units; bldg. size is 3,250 sf, lot size is 2,000 sf;
seller acquired property for $1,000 in Nov. 1977
MTG: $3,325,000 from Prudential
Affordable Mortgage Co. Inc.
ADD: 5 Warden St., Saugus
BWR: Warden Street Associates LLC, Stuart
Levey and Robert S. Merowitz
BUYER: Town of Rowley
SELLER: The Girl Scouts of Eastern Massachusetts
Inc., mgd. by Elizabeth Stevenson, president;
Ronald O’Connell, treasurer
PRICE/ADD: $2,500,000; 390 Wethersfield
St., Rowley
NOTES: Fraternal property with seven properties; mix of administrative and residential space;
buildings total 9,700 sf, lot size is 206 acres;
seller’s ownership in property dates to May 1965
BUYER: KIPP Boston Fund Inc., mgd. by Joel
Abramson, president; Dave McKenna, treasurer
SELLER: 37-45 Babsonst LLC, managed by
Michael Edward Ahern
PRICE/ADD: $2,020,000; 37-45 Babson St.,
Mattapan
MTG: $3,200,000 from Boston Community
Loan Fund Inc.
continued on page 16
THE REAL REPORTER
16
January 2, 2015
Commercial Deals
MILLION DOLLAR MORTGAGES/SALES DECEMBER 15 - DECEMBER 24, 2014
continued from page 15
NOTES: Industrial properties; 37 Babson St. const.
1986; building size is 4,000 sf, lot size is 7,300 sf;
45 Babson St., constructed 1921, renovated 2010;
building size is 26,250 sf, lot size is 1.4 acres; seller acquired property for $824,000 in July 2011
MTG: $1,875,000 from Rockland Trust Co.
ADD: 11 Horace St. & 15 & 21 South St., Somerville
BWR: Delhi Properties II LLC and Horace-Ward
LLC, managed by Jonah H. Jacob
BUYER: 339 Mass Avenue LLC, mgd. by Colin Beatty
SELLER: 339 Massachusetts Avenue
Investments LLC, mgd. by Stephen L. Robison
PRICE/ADD: $1,600,000; 339 Massachusetts
Ave., Arlington
MTG: $650,000, $668,000 and $812,500
from Bank of America
NOTES: Office property, constructed 1920;
building size is 4,500 sf, lot size is 10,025 sf;
last sold for $909,000 in Oct. 2006
MTG: $1,480,000 from Commonwealth
Cooperative Bank
ADD: 67-69 South St., Boston
BWR: South 67 Realty LLC, mgd. by Liam Lydon
MTG: $1,368,750 from Pilgrim Bank
ADD: 128 Hillside St., Boston
BWR: Alpgene LLC, mgd. by Eugene Rubinchuk
MTG: $1,227,000 from Needham Bank
ADD: 35 Wyvern St., Boston
BWR: DiSipio Development Group LLC, managed by Anthony DiSipio
DEC 16TH
MTG: $67,000,000 from People’s United Bank
ADD: 640 Oak St., Brockton and 140 Samoset
St., Plymouth
BWR: M and S Limited Partnership, managed
by Donald R. Smith
BUYER: Albany Road-Westboro Executive Park
LLC, mgd. by Albany Road Real Estate Partners
SELLER: Turnpike Executive Park LLC, managed by John Kolb
PRICE/ADD: $20,800,000; 110, 112 and 114
Turnpike Rd., Westborough
MTG: $19,300,000 from East Boston
Savings Bank
NOTES: Office properties; 112 Turnpike Rd.
constructed 1983; building size is 71,550 sf,
lot size is 14.8 acres; 114 Turnpike Rd. constructed 1984; building size is 71,700 sf; 110
Turnpike Rd. constructed 1986; building size
is 72,800 sf; properties last sold for
$31,600,000 in June 2006
Two multifamily properties in Chelsea have changed hands after three years of ownership, with Trident
Management principal Michael Sullivan selling 216 Revere Beach Pkwy. for $4,225,000 and 252 Revere
Beach Pkwy. at a price of $4,525,000 to Ann M. Busnach and Joseph J. Dovidio. The 64 units are split
evenly between both buildings that Trident acquired for $3,708,230 in Oct. 2011. Downtown Boston’s
super-tight apartment market has made Chelsea a viable option for tenants, and investors are following
suit with existing building purchases and new construction. The Trident assets are infill properties dating
to 1967 for 252 Revere Beach Pkwy. and 1970 for 216 Revere Beach Pkwy. A $3,370,000 mortgage
from Greystone Servicing Corp. fueled the latest ownership shift.
BUYER: MCREF Medford Development LLC,
managed by Mill Creek Residential Trust
SELLER: Cabot Road Owner-VEF VI LLC, managed by Ares Capital Management, NYC
PRICE/ADD: $19,500,000; 5 Cabot Rd., Lot
7, Medford
MTG: $71,451,000 from Citizens Bank
NOTES: Land parcel; lot size is 10.6 acres;
portion of property seller acquired for
$50,000,000 in Oct. 2006
BUYER: NStar Electric Co.
SELLER: Victoria Mutual Limited Partnership,
managed by Todd A. Burne
PRICE/ADD: $11,000,000; Off Cummins
Highway, Boston
NOTES: Land parcel; lot size is 38,000 sf; last
sold for $145,000 in June 1997
BUYER: Beacon Mainsail LLC, managed by
James Keliher
SELLER: Catharine-Mary Donovan
PRICE/ADD: $4,750,000; 117 Beacon St., Boston
MTG: $6,000,000 from Brookline Bank
NOTES: Single-family property, const. 1890;
house size is 8,925 sf, lot size is 2,550 sf; seller acquired property for $175,000 in July 1980
MTG: $4,605,000 from First Republic Bank
ADD: 168-174 Hampshire St., Cambridge
BWR: Berkmar LLC, managed by Gerald Chan
and Paula Turnbull, c/o Morningside
MTG: $3,500,000 from First Republic Bank
ADD: 9 Eustis St., Cambridge
BWR: Mirabilas LLC, managed by Gerald Chan
and Paula Turnbull, c/o Morningside
MTG: $3,050,000 from First Republic Bank
ADD: 1-11 Marney St., U-1-9, Cambridge
BWR: Citrine LLC, managed by Gerald Chan
and Paula Turnbull, c/o Morningside
BUYER: Three T Financial LLC, managed by
Glover Property Management Inc., managed by
Edward T. Moore
SELLER: Inwood Development LLC, managed
by United Dominion Realty L.P.
PRICE/ADD: $2,250,000; Inwood West Lot
One Land, Reading and Wilmington
MTG: $11,000,000 from East Boston SB
NOTES: Land parcel; lot size is 2.4 acres last
sold for $3,000,000 in April 2011
BUYER: Belvernon LLC, managed by
Macgregor B. Hay
SELLER: Cape View Enterprises Inc., managed
by Joel Tendler, president and treasurer
PRICE/ADD: $2,000,000; 364 Route 6, Truro
MTG: $1,125,000 from Eastern Bank
NOTES: Motel property, constructed 1962; 33
units in two buildings; buildings total 10,275
sf, lot size is 3 acres; last sold for $632,456 in
July 1991
continued on page 17
THE REAL REPORTER
January 2, 2015
17
Commercial Deals
MILLION DOLLAR MORTGAGES/SALES DECEMBER 15 - DECEMBER 24, 2014
continued from page 16
MTG: $1,800,000 from Country Bank for Savings
ADD: 39 Berlin St., and 3-7 Gorham Ave., Clinton
BWR: Edgewood Park LLC, managed by
Raymond Safi and Roger Safi
MTG: $1,750,000 from Clinton Savings Bank
ADD: 23 Maple Ave., Rutland
BWR: Chase the Seven C’s Inc., managed by
Robert E. Chase Sr.
MTG: $1,750,000 from First Republic Bank
ADD: 10-12 Pleasant St., Cambridge
BWR: Legget LLC, managed by Gerald Chan
and Paula Turnbull, c/o Morningside
MTG: $1,500,000 from Rockland Trust Co.
ADD: 92-96 Lafayette St., Salem
BWR: RCG Klondike Club LLC, managed by
Alex M. Steinbergh
MTG: $1,500,000 from Pentucket Bank and
$3,651,928 from Massachusetts Department
of Community Housing & Development
ADD: 2 Reed St., 74-76 Temple St., and 17-19
Tremont St., Haverhill
BWR: Welcome Home Housing LLC, managed
by Yun-Ju Choi
BUYER: Vista Lane Apartments LLC, managed
by Raymond Safi and Robert Safi
SELLER: Spencer Montrose Limited
Partnership, managed by Giancarlo Micozzi
PRICE/ADD: $1,650,000; 1 and 2 Vista Ln., Spencer
MTG: $1,320,000 from Country Bank for Savings
NOTES: Multifamily properties, const. 1970
and 1971; 10 units each building; 1 Vista Ln.
building size is 8,800 sf, lot size is 2.2 acres; 2
Vista Ln. building size is 8,800 sf; properties
last sold for $1,416,100 in May 2005
BUYER: Peter M. Aspesi, trustee of 300
Turnpike Road Realty TR
SELLER: BlueLine Rental LLC, managed by
Phillip Hobson
PRICE/ADD: $1,520,000; 300 Turnpike Rd.,
Southborough
MTG: $1,317,500 from Marlborough SB
NOTES: Industrial property, constructed 1968;
building size is 16,950 sf, lot size is 4.8 acres;
last sold for $845,825.53 in July 2011
Linear Retail Properties has sold a small retail asset in Pepperell for $1,375,000 to Priyanka Pepperell
Realty LLC, whose manager Kaushik D. Patel borrowed $1,031,250 from Workers Credit Union to finance
the investment of 2 Tarbell St. A convenience store and local restaurant are tenants in the 9,500-sf plaza
located on a 30,250-sf parcel. The building that was constructed in 1985 had been held by Burlingtonbased Linear since its last trade for $900,000 in Nov. 2006.
MTG: $1,300,000 from Digital Federal CU
ADD: 637 Gifford St., Falmouth
BWR: PF Falmouth LLC, managed by State
Financial Services Inc.
MTG: $1,050,000 from Northern B&T Co.
ADD: 150-156 Main St., Reading
BWR: 156 Main Street LLC, managed by
Joseph Calareso III and Wendy Calareso
MTG: $1,000,000 from First Republic Bank
ADD: 20 Marie Ave., Cambridge
BWR: Geranium LLC, managed by Gerald
Chan and Paula Turnbull, c/o Morningside
DEC 15TH
MTG: $92,000,000 from People’s United Bank
ADD: 216 Main St., North Reading; and 80
Galen St., Watertown
BWR: M and S Limited Partnership, managed
by Donald R. Smith
MTG: $1,400,000 from North Middlesex SB
ADD: 29 Mountain Street East, Worcester
BWR: Worcester Mountain Street LLC, managed by Bruce A. Taylor
BUYER: Ivy Brigham Property LLC, managed
by Ivy Realty, c/o Anthony P. Ditommaso Jr. and
Russell F. Warren Jr., Greenwich CT
SELLER: Foothills Corp., managed by Jon Mark
Delli Priscoli, president and treasurer
PRICE/ADD: $14,500,000; 19 and 41-53
Brigham St., Marlborough
MTG: $11,200,000 from CIBC
NOTES: Industrial properties; 19 Brigham St.
constructed 1984; building size is 67,800 sf, lot
size is 3.7 acres; last sold for $1,260,000 in
June 1995; 41-53 Brigham St. constructed 1990;
building size is 42,750 sf, lot size is 9.9 acres;
property last sold for $1,012,000 in Feb. 1984
MTG: $1,375,000 from Commerce B&T Co.
ADD: 10 Woodland Rd., Lexington
BWR: Hatfield Associates Inc., managed by
Walter R. Hatfield Jr.
MTG: $8,480,000 from Needham Bank
ADD: 464 Hillside Ave., Needham
BWR: Palaestra Associates Limited Partnership,
mgd. by Gregory Petrini, president and treasurer
BUYER: Muffin 2X LLC, managed by Robert
M. Ogan, president and treasurer
SELLER: OMJ Realty LLC, mgd. by Joseph Faro Jr.
PRICE/ADD: $6,868,275; 2 Willow Rd., Ayer
MTG: $5,500,000 from Eastern Bank
NOTES: Industrial property; building size is
90,575 sf, lot size is 6.7 acres; last sold for
$2,350,000 in Jan. 2003
MTG: $4,200,000 from JPMorgan Chase Bank
ADD: 126 Woodland Rd., Brookline
BWR: Area 9 W 126 Inc., mgd. by Ulrik Juul
Christensen, pres.; David Lelbman, treas., NYC
MTG: $1,600,000 from Cape Cod
Cooperative Bank
ADD: 15 Breakwater Rd., & 716 Main St., Brewster
BWR: Wind Reef Inc., managed by Byron Cain,
president and treasurer
BUYER: EMF Realty LLC, mgd. by Ronald Koning Jr.
SELLER: John J. Callahan Jr. and William J.
Callahan Jr., trustees of Meadowbrook Realty TR
PRICE/ADD: $1,400,000; 9-11 DeAngelo Dr.,
Bedford
MTG: $1,120,000 from Salem Five Cents SB
NOTES: Flex property, constructed 1969;
building size is 11,950 sf, lot size is 1.1 acres;
last sold for $730,000 in Dec. 1985
MTG: $1,350,000 from Watertown SB
ADD: 93-95 Athelstand Rd., Newton
BWR: Auburn St. Development LLC, managed
by Vincent Craig Forsythe
BUYER: Welch Real Estate Group LLC, managed by James M. Welch
SELLER: East Coast Ventures Inc., managed by
Raymond T. Boschetto
PRICE/ADD: $1,300,000; 295 Littleton Rd.,
Chelmsford
continued on page 22
THE REAL REPORTER
18
January 2, 2015
Residential Deals
MILLION DOLLAR MORTGAGES/SALES DECEMBER 8 - DECEMBER 12, 2014
DEC 12TH
BUYER: Jidong Zhang and Zhijie Zhang
SELLER: 56 Nonesuch LLC
MTG: $3,750,000 from NE Moves Mortgage
PRICE/ADD: $625,000; 56 Nonesuch Rd., Weston
NOTES: Single-family property, const. 1930; house
size is 1,100 sf, lot size is 37,025 sf; two bdrms.
and one bath; seller’s family acquired property for
$30,000 in Sept. 1974; Declaration of Homestead
BUYER: Margaret G. Donahue
SELLER: James E. Besser and Jenny E. Besser
PRICE/ADD: $3,139,000; 4 West Hill Pl., U-4, Boston
MTG: $1,100,000 and $1,254,250 from First
Republic Bank
NOTES: Unit in low-rise condominium; unit
size is 3,300 sf; four bedrooms and 3.5 baths;
building last sold for $1,540,000 in Jen. 2012
BUYER: Hanhui Zhu
SELLER: Burlex LLC, managed by John Sousa
PRICE/ADD: $2,650,000; 36 Somerset Rd.,
Lexington
NOTES: Single-family property, const. 2014; house
size is 6,525 sf, lot size is 15,675 sf; six bdrms.
and six baths; property last sold for $2,300,000 in
Sept. 2013; Declaration of Homestead
MTG: $2,475,000 from Needham Bank
ADD: 48 Cranmore Rd., Wellesley
BWR: Anni Andersen and Lars Andersen
MTG: $1,867,000 from The Village Bank
ADD: 10 Burnham Rd., Newton
BWR: Jennifer Bentley and Braden Houston
NOTES: Declaration of Homestead
MTG: $1,725,000 from East Cambridge SB
ADD: 100 Flagship Dr., North Andover
BWR: Thomas Nigrelli, trustee of A.R.C Realty TR
BUYER: Cindy Goldstein and Roger Goldstein
SELLER: Rachel Goldstein, trustee of 70RJ
Sewall Avenue Nominee TR
PRICE/ADD: $1,650,000; 70 Sewall Ave., U-4,
Brookline
NOTES: Unit in low-rise condo; unit size is 1,900 sf;
three bedrms. and 2.5 baths; unit last sold for
$1,195,000 in Dec. 2011; Declaration of Homestead
BUYER: Ali Galindo and Ruben Galindo
SELLER: Bailey Real Estate LLC, managed by
Michael J. Coppolino
PRICE/ADD: $1,545,000; 2 Shaw Rd., Wellesley
MTG: $900,000 from Needham Bank
NOTES: Single-family Colonial, constructed
2014; house size is 3,425 sf, lot size is 10,250
sf; four bedrooms, three baths and two halfbaths; last sold for $1,130,000 in June 2013;
Declaration of Homestead
Winchester Cooperative Bank has provided jumbo mortgage financing of $840,000 to David R. Salvetti
Jr. and Tara M. Salvetti used to acquire 1 Windsong Ln. in Winchester from Joanne M. McCabe and John
D. McCabe for $1,050,000. Dating to 1972, the single-family Ranch encompasses 4,850 sf with four bedrooms and three baths. The McCabes had owned 1 Windsong Ln. since paying $600,000 in Sept. 1997.
BUYER: Maressa Patts and Timothy Patts
SELLER: Chenning Gao & Magnus Sigurdsson
PRICE/ADD: $1,485,000; 126 University Rd.,
U-2, Brookline
MTG: $1,188,000 from First Republic Bank
NOTES: Unit in low-rise condo; unit size is 2,325 sf;
three bdrms. and 2.5 baths; unit last sold for
$1,350,000 in June 2013; Declaration of Homestead
BUYER: Nurunisa Neyzi Akyuz
SELLER: Joshua I. Gann and Nicole L. Gann
PRICE/ADD: $1,350,000; 99 Sargent St., Newton
NOTES: Single-family Colonial, const. 1919;
house size is 2,425 sf, lot size is 11,675 sf; four
bdrms. and 4.5 baths; last sold for $769,000 in
May 2000; Declaration of Homestead
MTG: $1,350,000 from The Cape Cod Five
Cents Savings Bank
ADD: 124 Summersea Rd., Mashpee
BWR: Danielle L. Heanue and Paul C. Trane
BUYER: Thomas Evarts
SELLER: Margot Frost-Stuart f/k/a Margot F. Stuart
PRICE/ADD: $1,341,000; 18 Windmill Hill
Rd., Concord
MTG: $275,000 and $800,000 from TD Bank
NOTES: Single-family property, const. 1939;
house size is 3,475 sf, lot size is 1.1 acres; four
bedrooms and 1.5 baths; last sold for $1,465,000
in Oct. 2010; Declaration of Homestead
BUYER: Judah B. Axe and Ellen B. Axe
SELLER: Centre Street Development Partners
LLC, managed by Joseph M. Flaherty
PRICE/ADD: $1,300,000; 1611-1615 Centre
St., U-1615, Newton
MTG: $1,100,000 from Zaydie LLC
NOTES: Unit in low-rise condominium; unit
size is 3,325 sf; four bedrooms and 4.5 baths;
building last sold for $745,000 in June 2013;
Declaration of Homestead
BUYER: Kristin Nordblom and Peter Nordblom
SELLER: Yi Bao and Siyuan He
PRICE/ADD: $1,299,900; 32-34 St., U-34,
James Ave., Somerville
NOTES: Unit in low-rise condo; unit size is 2,475 sf;
four bdrms. and 3.5 baths; sellers acquired property
pre-conversion for $755,000 in May 2012
BUYER: Francis Nimick a/k/a Francis G. Nimick
SELLER: Cedar Street Betterbuilt LLC, managed by Steven Hill
PRICE/ADD: $1,280,000; 93 Cedar St., Somerville
MTG: $1,230,000 from Anne H. Nimick and
Thomas G. Nimick
NOTES: Two-family property, constructed
1905; house size is 2,350 sf, lot size is 3,925
sf; five bedrooms, three baths and two halfbaths; last sold for $450,000 in Nov. 2012;
Declaration of Homestead
MTG: $1,185,000 from First Republic Bank
ADD: 5 Beebe Way, Wellesley
BWR: Heather P. Kaminer
BUYER: Aymeric Vigneras & Emmanuelle Vigneras
SELLER: Eric H. Jung
continued on page 19
THE REAL REPORTER
January 2, 2015
19
Residential Deals
MILLION DOLLAR MORTGAGES/SALES DECEMBER 8 - DECEMBER 12, 2014
continued from page 18
PRICE/ADD: $1,175,000; 665 Concord Ave.,
Belmont
MTG: $822,500 from Brookline Bank
NOTES: Single-family Contemporary, const. 1961;
house size is 3,075 sf, lot size is 18,300 sf; four
bdrms. and four baths; last sold for $975,000 in
June 2012; Declaration of Homestead
BUYER: Lisa M. Rosen and Seth I. Rosen
SELLER: Brooks Mostue and Patricia Mostue
PRICE/ADD: $1,100,000; 53 Bedford Rd., Lincoln
MTG: $825,000 from First Republic Bank
NOTES: Single-family Colonial, constructed
1926; house size is 3,300 sf, lot size is 1.8
acres; five bedrooms and three baths; last sold
for $343,000 in Dec. 1992
BUYER: Azita CaraDonna & Joseph CaraDonna III
SELLER: Judith Harrington & Lawrence Harrington
PRICE/ADD: $1,065,000; 39 Shoreline Dr.,
Foxborough
MTG: $852,000 from Guaranteed Rate
NOTES: Single-family Colonial, const. 1983;
house size is 5,375 sf, lot size is 1.6 acres; four
bedrooms and 3.5 baths; last sold for $64,000
in April 1995; Declaration of Homestead
MTG: $250,000 and $1,000,000 from East
Boston Savings Bank
ADD: 41 Spruce St., North Reading
BWR: Mary E. Cresta and Michael Cresta
BUYER: Donna Quirk and Thomas V. Quirk
SELLER: Jeffrey L. Lyle and Kevin Scerbo
PRICE/ADD: $1,065,000; 25 Channel Center,
U-208, Boston
MTG: $53,250 and $852,000 from RBS Citizens
NOTES: Unit in high-rise condo; unit size is 1,850
sf; two bdrms. and 2.5 baths; unit last sold for
$685,000 in Feb. 2006; Declaration of Homestead
MTG: $1,000,000 from First Republic Bank
ADD: 34 Miller Hill Rd., Dover
BWR: Carole M. Ely and Christopher R. Ely
DEC 11TH
MTG: $2,303,000 from East Boston SB
ADD: 20 Paine Ave., Beverly
BWR: Marcia Glassman-Jaffe and Mark Jaffe
BUYER: Courtney Murphy & Timothy Murphy
SELLER: Sean Mullaney and Stacy Mullaney
PRICE/ADD: $2,265,625; 480 Jerusalem Rd.,
Cohasset
MTG: $1,500,000 from RBS Citizens
NOTES: Single-family Victorian, const. 1880;
house size is 5,025 sf, lot size is 31,025 sf; four
bedrooms and five baths; last sold for $965,000
in May 2005; Declaration of Homestead
A 15-year-old single-family Colonial in Weston has changed hands for $2,180,000, with Laura H. Miller
and Michael C. Miller purchasing 6 Drumlin Rd. from Cornelis Been and Alison Farquhar. The sellers had
paid $1,700,000 in July 2000 to acquire the expansive home that features five bedrooms and seven
baths in a 6,475-sf structure set on 1.3 acres.
BUYER: Laura H. Miller and Michael C. Miller
SELLER: Cornelis Been and Alison Farquhar
PRICE/ADD: $2,180,000; 6 Drumlin Rd., Weston
NOTES: Single-family Colonial, const. 2000; house
size is 6,475 sf, lot size is 1.3 acres; five bedrooms
and seven baths; last sold for $1,700,000 in July
2000; Declaration of Homestead
BUYER: Wanli Ciong and Wenxin Huang
SELLER: Anna Frattaroli and Filippo Frattaroli
PRICE/ADD: $1,883,000; 90 Puritan Ln.,
Swampscott
NOTES: Single-family Colonial, const. 1930;
house size is 5,525 sf, lot size is 33,975 sf; five
bedrooms and 8.5 baths; last sold for $2,000,000
in May 2005; Declaration of Homestead
BUYER: Michael Smith and Phoebe Cole-Smith
SELLER: Mary Beth Alger
PRICE/ADD: $1,625,000; 4 and 6 Caleb Pond
Ln., Chappaquiddick
MTG: $604,035 from Mary Beth Alger
NOTES: 4 Caleb Pond Ln. a single-family property, constructed 1940; house size is 400 sf, lot
size is 32,675 sf; two bedrooms and one bath;
6 Caleb Pond Ln. a single-family property, constructed 1940; house size is 925 sf, lot size is
17,850 sf; two bedrooms and one bath; seller’s
family ownership in property dates to May 1989
BUYER: Yujia Zhai
SELLER: Ellen Saturley, trustee EGD Grove Realty TR
PRICE/ADD: $1,560,000; 195 Grove St., Cambridge
MTG: $936,000 from Washington Trust
Mortgage Co. LLC
NOTES: Single-family Contemporary, constructed 1960; house size is 5,850 sf, lot size is
20,050 sf; five bedrooms and 4.5 baths; seller’s family ownership in property dates to Aug.
1957; Declaration of Homestead
BUYER: Kerri Kempter and Marc Kempter
SELLER: Daniel Hunter and Susan E. Hunter
PRICE/ADD: $1,435,000; One Bennett Street
North, Gloucester
MTG: $143,500 and $1,148,000 from
Jeanne D’Arc Credit Union
NOTES: Single-family Colonial, constructed
1920; house size is 4,700 sf, lot size is 1.4
acres; five bedrooms and four baths; last sold
for $875,000 in March 2001; Declaration of
Homestead
BUYER: Jon Loren Beatty & Paula Robin Beatty
SELLER: Keybank National Association, trustee
restatement of The Marguerite S. Munger
Revocable Trust Agreement
PRICE/ADD: $1,300,000; 4 Seal Ln., East Orleans
MTG: $800,000 from Cape Cod Five Cents SB
NOTES: Single-family property, constructed
1960; house size is 1,925 sf, lot size is 30,050
sf; four bedrooms and 1.5 baths; last sold for
$1,350,000 in May 2004
BUYER: Beverly Jackson
SELLER: Boynton Brennan Builders LLC, mgd.
by Johanna Boynton
PRICE/ADD: $1,230,000; 1453 Main St.,
Concord
continued on page 20
THE REAL REPORTER
20
January 2, 2015
Residential Deals
MILLION DOLLAR MORTGAGES/SALES DECEMBER 8 - DECEMBER 12, 2014
continued from page 19
NOTES: Single-family Colonial, const. 2014;
house size is 3,800 sf, lot size is 11,325 sf; four
bedrooms and 3.5 baths; last sold for $425,000
in Oct. 2012; Declaration of Homestead
MTG: $1,100,000 from Bank of America
ADD: 355 Cartwright Rd., Needham
BWR: Jeffrey M. Rosin and Sara E. Rosin
BUYER: John Cancellieri Jr. & Leigh Cancellieri
SELLER: Joel Wheeler and Kathleen Wheeler
PRICE/ADD: $1,075,000; 97 Beechnut Rd.,
Westwood
MTG: $750,000 from Leader Bank
NOTES: Single-family Colonial, const. 1999;
house size is 3,500 sf, lot size is 19,600 sf; five
bedrooms and four baths; last sold for $970,000
in May 2007; Declaration of Homestead
BUYER: Ari R. Cohen and Jenna H. Cohen
SELLER: Scott Kaplan and Susanne Kaplan
PRICE/ADD: $1,070,000; 32 Virginia Rd., Needham
MTG: $570,000 from Fairway Independent
Mortgage Corp.
NOTES: Single-family Colonial, constructed
1998; house size is 3,050 sf, lot size is 10,450
sf; four bedrooms, two baths and two halfbaths; last sold for $749,500 in July 2002:
Declaration of Homestead
BUYER: Mark Findeis and Maureen Rezendes
SELLER: Maureen O. Rezendes and Elizabeth
M. Robbins, Personal Representatives of The
Estate of Odette M. Rezendes
PRICE/ADD: $1,000,000; 4 Waldo Ave., Somerville
MTG: $666,667 from Cambridge Savings Bank
NOTES: Three-family property, const. 1900;
bldg. size is 3,600 sf, lot size is 2,625 sf; sellers’
family ownership in property dates to Jan. 1948
DEC 10TH
MTG: $3,000,000 from First Republic Bank
ADD: 170 Hyslop Rd., Brookline
BWR: Emanuel Friedman and Paula Friedman
After nearly 20 years of ownership, Andrew M. Snyder and Dana K. Snyder have harvested 11 Princeton
Rd. in Wellesley for $1,150,000 to Brian B. Lindquist and Karen P. Lindquist. The single-family Colonial
that dates to 1952 has 2,800 sf of space with four bedrooms and 2.5 baths on a quarter-acre parcel
near Route 9 at Reed’s Pond. Patriot Community Bank loaned $810,000 to the Lindquists used to secure
the property that last changed hands for $365,000 in June 1995.
NOTES: Unit in low-rise condominium; unit
size is 2,150 sf; two bedrooms and three
baths; building last sold for $5,025,000 in Feb.
2013; Declaration of Homestead
BUYER: Michael Bigby, Rosamaria Corona,
Alessandra Mele and Nicola Orichuia
SELLER: Anna N.P. Shine
PRICE/ADD: $1,815,000; 47 Addington Rd.,
Brookline
MTG: $1,452,000 from Boston Private B&T Co.
NOTES: Single-family property, const. 1903;
house size is 3,850 sf, lot size is 5,225 sf; six
bdrms. and 4.5 baths; last sold for $1,303,000
in May 2005; Declaration of Homestead
MTG: $1,760,000 from Wellesley Bank
ADD: 287-289 Linden St., Wellesley
BWR: John Keefe, trustee 287-289 Lindeen St.,
Wellesley Massachusetts Nominee Real Estate TR
BUYER: James Bilotta and Melissa Allard-Bilotta
SELLER: Dennis Rainville and Joanne Rainville
PRICE/ADD: $2,270,000; 183 Hutchins Rd., Carlisle
MTG: $1,589,000 from Wells Fargo Bank
NOTES: Single-family Colonial, const. 2000; house
size is 9,025, lot size is 4.4 acres; five bdrms., five
baths and four half-baths; last sold for $2,999,999
in Dec. 2012; Declaration of Homestead
BUYER: Noah Shamosh and Jennifer Thomas
SELLER: John M. DeCiccio
PRICE/ADD: $1,600,000; 37 Mt. Vernon St.,
U-2-3, Boston
MTG: $1,200,000 from Cambridge SB
NOTES: Unit in low-rise condominium; unit
size is 800 sf; two bedrooms and 1.5 baths;
unit last sold for $73,000 in Sept. 1981;
Declaration of Homestead
BUYER: Lim S. Seng
SELLER: Henshaw Tremont LLC, managed by
David L. Goldman
PRICE/ADD: $1,950,000; 407-409 Shawmut
Ave. U-10, Boston
BUYER: Erin K. Lake and Stephen L. Lake
SELLER: Rachel J. Kramer and Alan J.
Schlesinger, trustees of ESJ Realty TR
PRICE/ADD: $1,570,000; 15 Eliot Memorial
Rd., Newton
MTG: $1,150,000 from Eastern Bank
NOTES: Single-family Victorian, constructed
1908; house size is 3,075 sf, lot size is 23,050
sf; five bedrooms and 2.5 baths; sellers’ family
ownership in property dates to June 1973;
Declaration of Homestead
BUYER: Anthony Maroon and Blake Maroon
SELLER: Nancy Bodem and W. Ladd Bodem
PRICE/ADD: $1,522,425; 14 Deerfield Rd.,
Wellesley
MTG: $1,217,940 from Bank of America
NOTES: Single-family Garrison, const. 1956;
house size is 3,050 sf, lot size is 28,825 sf; four
bedrooms and 2.5 baths; last sold for $525,000
in Feb. 1993; Declaration of Homestead
BUYER: Tracy J. Hawkins
SELLER: Lev Romm
PRICE/ADD: $1,500,000; 346 Congress St.,
U-502, Boston
MTG: $600,000 from Washington Trust
Mortgage Company
NOTES: Unit in high-rise condominium; unit
size is 1,950 sf; three bedrooms and 2.5 baths;
unit last sold for $1,100,000 in Sept. 2012;
Declaration of Homestead
BUYER: John Douglas Hodgkin
SELLER: Karen Golden-Biddle & R. Mark Biddle
PRICE/ADD: $1,385,000; 26 Everett St., Newton
NOTES: Single-family Colonial, constructed
1910; house size is 2,475 sf, lot size is 7,025
sf; four bedrooms and 2.5 baths; last sold for
$1,035,000 in April 2007
continued on page 21
THE REAL REPORTER
January 2, 2015
21
Residential Deals
MILLION DOLLAR MORTGAGES/SALES DECEMBER 8 - DECEMBER 12, 2014
continued from page 20
MTG: $1,360,000 from Needham Bank
ADD: 72 Centre St., Dover
BWR: Carl T. O’Connell
BUYER: Raksha Shah and Virendra Shah
SELLER: Courtney Murphy & Timothy Murphy
PRICE/ADD: $1,295,000; 65 Rutland St., U-3,
Boston
MTG: $745,000 from Citibank
NOTES: Unit in low-rise condominium; unit
size is 1,500 sf; two bedrooms and two baths;
unit last sold for $950,000 in Nov. 2010;
Declaration of Homestead
BUYER: Brian Lindquist and Karen Lindquist
SELLER: Andrew Snyder and Dana Snyder
PRICE/ADD: $1,150,000; 11 Princeton Rd.,
Wellesley
MTG: $339,650 and $470,350 from Patriot
Community Bank
NOTES: Single-family Colonial, const. 1952;
house size is 2,800 sf, lot size is 11,400 sf; four
bdrms. and 2.5 baths; last sold for $365,000 in
June 1995; Declaration of Homestead
MTG: $1,050,000 from Mortgage Master
ADD: 73 Chesterton Rd., Wellesley
BWR: Kara Gordon and Todd Gordon
MTG: $1,040,000 from Mortgage Nework
ADD: 147 Washington St., Marblehead
BWR: Patricia G. Lausier
BUYER: Payman Shokoohi
SELLER: Sarah Whittaker
PRICE/ADD: $1,030,000; 141 Dorchester
Ave., U-419, Boston
MTG: $824,000 from Bank of America
NOTES: Unit in high-rise condo; unit size is 675
sf; one bdrm. and one bath; unit last sold for
$817,500 in Nov. 2012; Declaration of Homestead
MTG: $1,000,000 from First Republic Bank
ADD: 10 Rowe’s Wharf, U-1404, Boston
BWR: Robert L. Marr
DEC 9TH
BUYER: Frances DeSalvio and Robert DeSalvio
SELLER: Legal Engineering LLC, mgd. J. Craig Weeks
PRICE/ADD: $3,230,000; 150 East St., Lexington
MTG: $1,530,000 from First Republic Bank
NOTES: Single-family property, const. 2014;
house size is 7,550 sf, lot size is 1.2 acres; six
bdrms. and 6.5 baths; last sold for $675,000
in Jan. 2009; Declaration of Homestead
BUYER: Ann Marie McCarron & William McCarron
SELLER: Historic Rangeley LLC, managed by
David L. Feigenbaum
Backed by $1,100,000 from First Republic Bank, Maria Laura de Icaza and Miguel de Icaza have purchased 98 Carlton St. in Brookline for $2,900,000 from Daniel B. Doherty and Gerald Izzi, owners since
paying $2,125,000 in Oct. 2004 for the single-family Colonial that was constructed in 1912. There are
four bedrooms, four baths and two half-baths in the residence which totals 5,575 sf in size.
PRICE/ADD: $1,950,000; 19 Rangeley Rd.,
Winchester
MTG: $1,450,000 from TD Bank
NOTES: Single-family Carriage house, constructed 1909; house size is 5,300 sf, lot size is
33,550 sf; eight bedrooms and 4.5 baths; last
sold for $2,100,000 in July 2014
MTG: $1,500,000 from Dedham Institution
for Savings
ADD: 1684 Beacon St., Brookline
BWR: Beacon 19 Properties LLC, managed by
Francis Taw a/k/a Frank Taw
MTG: $1,225,000 from First Republic Bank
ADD: 9 Gay St., Nantucket
BWR: Michael Hamill and Jennie H. Voorhees
BUYER: Jesse L. Wei and Nancy J. Wei
SELLER: Sandra B. Passmore
PRICE/ADD: $1,200,000; 18 Rockingham St.,
Cambridge
MTG: $960,000 from RBS Citizens
NOTES: Single-family property, constructed
1894; house size is 2,525 sf, lot size is 3,475
sf; four bedrooms and one bath; seller inherited property in March 2011; Declaration of
Homestead
BUYER: Ronald G. Ebb and Kimberly W. Ebb
SELLER: David E. Richardson and Diane L.
Richardson
PRICE/ADD: $1,100,000; 60 Meadowlark
Rd., Osterville
MTG: $800,000 from Rollstone B&T
NOTES: Single-family Cape Cod, constructed
1975; house size is 6,800 sf, lot size is 1.1
acres; five bedrooms and 4.5 baths; last sold
for $349,000 in June 1995
BUYER: Oliver Danos and Elise Peltekian
SELLER: Jessica S. Mahony f/k/a Jessica S.
McKillop and Thomas J. Mahony
PRICE/ADD: $1,097,000; 47-49 U-49-8,
Hancock St., Boston
MTG: $877,600 from Sterling National Bank
NOTES: Unit in low-rise condominium; unit
size is 1,450 sf; three bedrooms and two
baths; unit last sold for $915,000 in July 2012;
Declaration of Homestead
BUYER: David Salvietti Jr. and Tara Salvietti
SELLER: Joanne McCabe and John McCabe
PRICE/ADD: $1,050,000; 1 Windsong Ln.,
Winchester
MTG: $840,000 from Winchester
Cooperative Bank
NOTES: Single-family property, constructed
1972; house size is 4,850 sf, lot size is 22,650
sf; four bedrooms and three baths; last sold for
$600,000 in Sept. 1997; Declaration of
Homestead
MTG: $1,038,000 from Guaranteed Rate
ADD: 76 Sweetwater Ave., Bedford
BWR: Jessica S. Betts and Spencer N. Betts
continued on page 22
THE REAL REPORTER
22
January 2, 2015
Residential Deals
MILLION DOLLAR MORTGAGES/SALES DECEMBER 8 - DECEMBER 12, 2014
continued from page 21
MTG: $350,000 and 1,000,000 from
Middlesex Savings Bank
ADD: 6 Moon Hill Rd., Lexington
BWR: Alessandro Pagani and Linda
Dabrowski-Pagani
NOTES: Declaration of Homestead
DEC 8TH
MTG: $3,399,970 from First Republic Bank
ADD: 60 Howland Rd., Newton
BWR: Joseph C. Maher Jr., trustee OF Urrutia
Realty TR
BUYER: Maria Laura de Icaza & Miguel de Icaza
SELLER: Daniel B. Doherty and Gerald Izzi
PRICE/ADD: $2,900,000; 98 Carlton St.,
Brookline
MTG: $1,100,000 from First Republic Bank
NOTES: Single-family Colonial, constructed
1912; house size is 3,925 sf, lot size is 5,575
sf; four bedrooms, four baths and two halfbaths; last sold for $ 2,125,000 in Oct. 2004;
Declaration of Homestead
MTG: $1,898,880 from Bank of America
ADD: 138 Marlborough St., U-1, Boston
BWR: Andrea Marber and Peter Marber
MTG: $1,561,450 from Bridgewater SB
ADD: 180 South Meadow Rd., Plymouth
BWR: Richard Ellis Sr., trustee SMR Realty TR
MTG: $1,500,000 from Bank of America
ADD: 14 Lomgmeadow Dr., Westwood
BWR: Christine Parson and Frederick Parson
MTG: $1,500,000 from Boston Private
Bank & Trust Co.
ADD: 531 Federal Furnace Rd., Plymouth
BWR: David Carreau
BUYER: Jack S. Elder and Judith L. Elder
SELLER: Kane Built , managed by Roger K.
Kane Jr., president and treasurer
PRICE/ADD: $1,460,000; 92 Staniford St., Newton
MTG: $660,000 from Blue Hills Bank
NOTES: Single-family Colonial, constructed
2014; house size is 4,650 sf, lot size is 15,675
sf; four bedrooms and 4.5 baths
MTG: $140,000 and $1,360,000 from
Boston Private Bank & Trust Co.
ADD: 63 St. Botolph St., U-5, Boston
BWR: Anthony Limberis and June F. Limberis
BUYER: David Shaw and Katharine Yang-Shaw
SELLER: Howard Glaser and Karen Glaser
PRICE/ADD: $1,320,000; 2400 Beacon St.
U-408, Boston
Leader Bank has financed the $1,075,000 purchase of a single-family Colonial at 97 Beechnut Rd. in
Westwood with a $750,000 mortgage to John R. Cancellieri Jr. and Leigh Cancellieri used to buy the residence from Joel H. Wheeler and Kathleen B. Wheeler. They had purchased the home in May 2007 for
$970,000. Constructed in 1999, 97 Beechnut Rd. is a 3,500-sf structure with five bedrooms and four baths.
NOTES: Unit in mid-rise condominium; unit
size is 1,500 sf; two bedrooms and 2.5 baths;
unit last sold for $949,500 in Jan. 2007;
Declaration of Homestead
MTG: $1,280,000 from Dedham Institution
for Savings
ADD: 128 Lakeview Dr., Centerville
BWR: Lisa R. Falkson and Michael D. Falkson
BUYER: Alicia M. Andre and James E. Andre
SELLER: Charles W. Dee Jr. and Dari L. Dee
PRICE/ADD: $1,200,000; 185 Silver Hill Rd., Concord
MTG: $960,000 from Mortgage Network
NOTES: Single-family Colonial, const. 2014;
house size is 2,950 sf, lot size is 2.6 acres; four
bdrms. and four baths; last sold for $959,750
in May 2007; Declaration of Homestead
MTG: $1,168,750 from Eastern Bank
ADD: 115 Sumner St., Newton
BWR: Michael Shanahan
MTG: $1,079,000 from Northstar Mortgage Corp.
ADD: 74 Richard Rd., Needham
BWR: Stanislava Portnoy and Gary J. Potagal
BUYER: Janet M. Casey and Neal Todrys
SELLER: Julia R. Ericksen
PRICE/ADD: $1,025,000; 357 Beacon St.,
U-5, Boston
MTG: $820,000 from Bank of America
NOTES: Unit in low-rise condominium; unit
size is 1,000 sf; two bedrooms and 1.5 baths;
unit last sold for $849,000 in Aug. 2012
BUYER: AMB LLC, mgd. by Anthony Borrelli
SELLER: Philip B. Merola
PRICE/ADD: $558,000; 66 Laurel Dr., Needham
MTG: $1,010,000 from Needham Bank
NOTES: Single-family property, constructed
1936; house size is 1,275 sf, lot size is 8,275
sf; three bedrooms and 1.5 baths; sellers family ownership dates to Dec. 1956
MTG: $1,000,000 from First Republic Bank
ADD: 166 Lancaster Ter., Brookline
BWR: Elizabeth P. Wax and Robert M. Wax
Commercial Deals
continued from page 17
MTG: $1,080,000 from Northern B&T Co.
NOTES: Industrial property, constructed 1971;
building size is 10,775 sf, lot size is 42,000 sf;
last sold for $475,000 in Oct. 2000
MTG: $1,050,000 from Boston Private B&T Co.
ADD: 1-39 Winnisiment St., Boston
BWR: Peter Fitzgerald, trustee of Yankee
Marine Real Estate TR
BUYER: New Pleasant Street LLC, mgd. by Qiong Lin
SELLER: One Pleasant Street LLC, managed by
John Tsou
PRICE/ADD: $1,050,000; 1 Pleasant St., Malden
MTG: $480,000 from Hingham Institution
for Savings
NOTES: Office property, constructed 1900;
building size is 5,200 sf, lot size is 1,300 sf;
last sold for $520,000 in Dec. 2011
THE REAL REPORTER
January 2, 2015
23
Massachusetts Corporations
Organized December 15 - December 25, 2014
Corporation
Directors/Registered Agents
Address
MEPT/LMP Newton Pavilion LLC
Eric B. Sheffels, signatory
C/o Leggat McCall Properties at 10 Post Office Sq., Boston MA 02109
Nature of Business
Own real property for investment purposes
Waterside 303 Corp.
David Slye, president; F. Michael Digiano, treasurer;
Lydia Chesnick, secretary; Stuart Pratt, chairman;
Kenneth M. Goldberg Esq., agent
C/o Two Seaport Ln., 9th floor, Boston MA 02210
Deal in real property
CSH Andover LLC
S. Scott Stewart, president; Kyle Henderson, secretary
C/o Capitol Seniors Housing at 975 F Street NW, 9th floor, Washington DC Real property ownership
Tuebor TRS II LLC
Kelly Porcella, signatory
Office of Marsh USA Inc. at 1 Towne Sq., Ste. 1100, Southfield MI 48076 Acquire commercial mortgage loans on
Massachusetts properties
DSF IV Westborough Owner LLC
Thomas Mazza, signatory
C/o DSF Advisors at 950 Winter St., Ste. 4300, Waltham MA 02451
Extra Space Properties 101 LLC
Gwyn McNeal, David Rasmussen & Scott Stubbs, managers 2795 E. Cottonwood Pkwy., Ste. 400, Salt Lake City UT 84121
Chester Square Mass Ave LLC
Bruce Percelay, chairman
C/o The Mount Vernon Co. at 29 Commonwealth Ave., 6th floor, Boston MA RE development and property management
KW Solar LLC
Kevin Kelly and William M. Whelan, managers
1529 Airport Rd., New Bedford MA 02746
Land development
Acq., develop, finance, lease & sell real prop.
Real property activities
Downtown Properties Owner LLC
Mariko Echigo and Hiroshi Ogasawara, managers
40 Rockefeller Plaza, 20th floor, NYC 10111
Real estate investment management
Pyramid JH Investment LLC
James Dina, Warren Fields and Richard Kelleher, managers
One Post Office Sq., Ste. 3100, Boston MA 02109
Acquire, develop, lease, maintain, mortgage
and sell real property
106 Thorndike Street 2 LP
Jonathan Parkes, manager
60 K St., South Boston MA 02127
Deal in real property
90 Waltham Street LP
Jonathan Parkes, manager
60 K St., South Boston MA 02127
Deal in real property
Linear Retail Cambridge #4 LLC
William J. Beckeman, signatory
C/o Linear Retail Properties at 5 Burlington Woods Dr., Burlington MA
Deal with certain real property in
Cambridge MA
B-XII Chelmsford LLC
Michael Crabtree, Erin Ibele and Jeffrey Miller, signatories
4500 Dorr St., Toledo OH 43615
Invest in real estate
C/o the Davis Cos. at 125 High St., Boston MA 02110
Deal in real property
DIV New Boston Hospitality Manager LLC Jonathan G. Davis, Jordanna Ferreira, Larry Lenrow,
Richard J. McCready and Scott D. Spelfogel, signatories
High Yield REO LLC
Christopher Anderson, Anthony Borghi & Kurt Stenhouse, mgrs. 404 South Huntington Ave., Boston MA 02130
Purchase, own and sell real estate
Magnum Residences Pte. Limited
Hoo Hui Ling, manager
Own real estate
Principal office at 6 Temasek Blvd., #27-02, Suntec Tower Four,
Singaport 038986; MA office at 4 Rome Way, Westford MA 01886
Pacheco-Aberdeen LP
Albert Pacheco, manager
54 Larchwood Dr., Cambridge MA 02138
Invest in real property
Matteson Companies LLC
John Matteson, manager
49 Melcher St, Boston MA 02210
Develop, invest in and own real estate
407-413 Pleasant Street LLC
Matthew Roman, manager
891 Franklin St., Melrose MA 02176
Deal with certain real estate at
407-413 Pleasant St., Melrose MA
NATMI National Billerica LLC
Shaun Broome, manager
C/o NATMI National Truck Terminals LLC @ 201 West St.,
Ste. 200, Annapolis MD 21401
Real estate
River City Kazis Holding Company LLC
Brad D. Phillips, manager
90-130 River St., Waltham MA 02453
Invest in real estate
Beach Five Four LLC
David Russell, manager
28 Country Club Ln., Middleton MA 01949
Deal w/certain real property at 58 Beach Rd.,
f/k/a 54 Beach Rd., Salisbury MA to develop
and market residential condominium
1164 Turnpike Street LLC
John Kennedy and Richard Kennedy, managers
1164 Turnpike St., Stoughton MA 02072
Acquire, develop, finance, lease, manage
and sell real estate
GCP Management LLC
Jeffrey C. Clary and Joseph Norberg Jr., signatories
800 Boylston St., 18th floor, Boston MA 02199
Manage real estate
285-291 Arsenal Street LLC
Alfred A. Merullo, manager
285-291 Arsenal St., Watertown MA 02472
Acquire and manage investment real estate
ERI/Valley Brook Series 3 LLC
Eggert Dagbjartsson and Victor J. Paci, signatories
C/o Equity Resource Investments at 1280 Massachusetts Ave.,
4th floor, Cambridge MA 02138
Invest in real estate
Leonardi Aray Architects LLC
Leonardi Aray, manager
800 Huron Ave., Cambridge MA 02138
Architecture
Coastal Dental Realty Holdings LLC
Marcus Brian Capalbo, Matthew Capalbo, Michael Capalbo
and Jennifer M. Kuchar, managers
282 Church Pond Dr., Tiverton RI 02878
Manage and own real estate
Madison Place Associates LLC
Robert E. Moss, manager
15 Brickyard Ln., Westborough MA 01581
Deal with real estate
Dig in Farm LLC
Jacob Holzberg-Pill and Grace Oedel, managers
35 Leverett Rd., Shutesbury MA 01072
Operate a farm with educational opportunities
for interested students
Tanner Towers LLC
Andrea K. Privitera, manager
531 Medford St., Somerville MA 02145
Manage and own commercial & residential RE
413-429 Broadway LLC
Alan Chan and Jimmy H. Chan, managers
73 Warwick Rd., Newton MA 02465
Deal in real property
Tapau LLC
Paul Cucinatti, manager; Jonathan Gold Esq., signatory
Principal office at 873 Beacon St., Boston MA 02215
Deal with real estate
STORE Master Funding VII LLC
Michael Bennett, Catherine Long and Christopher Volk, sigs. 8501 E. Princess Blvd., Ste. 190, Scottsdale AZ 85255
Interests in real estate
Campbell Investment LLC
Rick Costa, manager
111 Everett Ave., 2nd floor, Chelsea MA 02150
Real estate activities
Middleton Beverly Investors LLC
Peter Holstein, manager
400 Skokie Blvd., Ste. 405, Northbrook IL 60062
Real estate
Highland 260 Beacon LLC
Mark S. Baranski and Ben Rogan, managers
18 Tremont St., Ste. 900, Boston MA 02108
Interests in real property
Holding Highlander Maple LLC
Christopher M. Shachoy, manager
18 Tremont St., Ste. 900, Boston MA 02108
Interests in real property
BGB LLC
George Cataldo, Robert Norton and Beata Swierczynski, mgrs. 308 Victory Rd., Quincy MA 02171
Buy, develop, lease, manage and sell RE
continued on page 24
THE REAL REPORTER
24
January 2, 2015
Massachusetts Corporations
Organized December 15 - December 25, 2014
Corporation
Directors/Registered Agents
Address
Nature of Business
Magnum Residences Pte. Limited
Hoo Hui Ling, manager
Principal office at 6 Temasek Blvd., #27-02, Suntec Tower Four,
Singaport 038986; MA office at 4 Rome Way, Westford MA 01886
Own real estate
Republic State Mortgage Co.
Paulina McGrath, president; Robert Wagnon, director
2715 Bissonet St., Ste. 102, Houston TX 77005
Mortgage banker
810 East Third Street LLC
Kenneth McDonough and Thomas J. Noto, managers
72 Myrtlebank Ave., Dorchester MA 02124
Real estate activities
CRT Ventures LLC
Robert S. Roth, signatory
172 Dean Rd., Brookline MA 02445
Deal with certain real property interests in a
development community known as Fairhaven
Residential Gardens in Concord MA
19 Pinecrest LLC
Julie Digrigoli and Marc Digrigoli, managers
3 Stoneledge Rd., Lenox MA 01240
Acquire, develop, finance, lease, operate and
sell real estate
Thurken MA I LLC
Richard Landry Jr., manager; Dana Lanzillo, resident agent
Principal office c/o Landry Architects at 100 Market St., Ste. 303,
Portsmouth NH 03801; Dana C. Lanzillo c/o Saul Ewing LLP at
131 Dartmouth St., Ste. 501, Boston MA 02116
Deal with real estate
195 Park Avenue West LLC
David T. Johnson and Margretta K. Johnson, signatories
364 Columbian St., South Weymouth MA 02190
Develop, finance, lease, operate and sell RE
Interstate Properties Management Inc.
Salvatore Palumbo, president, treasurer and secretary
999 Broadway, Saugus MA 10906
Acquire, develop and manage real property
135 Arlington Road LLC
Neal S. Gold, manager
873 Beacon St., Ste. 11, Boston MA 02215
Deal with real estate
Marvin Gardens Realty of CT LLC
David Schmid and John Schmid, managers
1 Union Pl., Hartford CT 06103
Own real estate
BVO Holdings LLC
Timothy Murphy, manager
200 State St., Ste. 302, Boston MA 02109
Interests in real property
73-75-77 River Street LLC
Robert H. Bray, manager
75 River St., Cambridge MA 02139
Acquire investment real estate for profit
One Parker Lane LLC
Philip A. Osley, manager; Jesse M. Brescher, signatory
12 Broad St., Nantucket MA 02554
Dealing with interests in real estate
341-343 Lake Avenue LLC
Hannah Balcanoff and Carol J. Lane, signatories
40 Orchard St., Medfield MA 02052
Manage investments, incl. real prop. interests
AGA Foster LLC
Robert Denisco, manager; John Kielty Esq., resident agent
Principal office at 6 Andrews Brothers Way, Peabody MA 01960;
John R. Kielty Esq. at 40 Lowell St., Peabody MA 01960
Deal in real property
56 Upland Road LLC
Peter E. Balcanoff, manager
56 Upland Rd., Newton MA 02468
Manage investments, incl. real prop. interests
33 Green Street LLC
Robert Mazzola, Gerard McDonough and John Topalis, mgrs.; Principal office at 1419 Washington St., Walpole MA 02081;
Joseph R. Leone Esq., resident agent
Joseph R. Leone Esq. at 1101 Worcester Rd., Framingham MA 01701
Commercial & residential real estate activities
Quincy Realty LLC
Thomas J. Donnelly, manager
17 Woodworth St., Dorchester MA 02122
Lease, manage, purchase and sell real estate
JNP Acquisition LLC
Robert J. Rosenfield, manager
11 Wheeling Ave., Woburn MA 01801
Interests in real property
TGSC Acquisition LLC
Robert J. Rosenfield, manager
11 Wheeling Ave., Woburn MA 01801
Interests in real property
November Properties LLC
Attila Javor and Jill Weinstein, managers
25 Charlton St., *705, Everett MA 02149
Dealing with interests in real estate
89 Iyanough Road LLC
Steven R. Marcus, signatory
89 Iyanough Rd., Hyannis MA 02601
Manage and own real estate
Kelleher Family LLC
Dennis B. Clair and Karen K. Clair, managers
1066 Commonwealth Ave., Boston MA 02215
Acquire investment real estate for profit
PML 213 West Fifth Street LLC
Peter Leoutsakos, manager
1716 Columbia Rd., South Boston MA 02127
Real estate and interests therein
165 Lexington Road LLC
Luciano A. Borrelli, John N. Driscoll, James E. Fowler,
Francis C. Manganaro and Chung-Chang Young, managers
200 Prospect St., Waltham MA 02454
Hold and invest in real property
Red Feather LLC
Nathan R. Kimball and Paul C. Kimball, managers
252 West 30th St., #10B, NYC 10001
Lease, manage and own real estate
Charlton MT LLC
Robert E. Pantone, signatory
4 Liberty Sq., 3rd floor, Boston MA 02109
Solar energy projects
Turning Leaf LLC
Ralph Digiorgio and Thomas O'Connell, signatories
189 North Main St., Ste. 201, Middleton MA 01949
Real estate interests
DA Beverly Manager LLC
Marla Robinson, manager
30 Washington St., Ste. 340, Wellesley MA 02481
Own real estate
30 Pine Street LLC
Patrick J. Sheehan, manager
26 Harvard St., Worcester MA 01609
Deal with real estate
16 Carpenter Street Realty LLC
Jenny J. Chen, manager
204 Temple St., West Roxbury MA 02132
Develop, invest in and manage real estate
Develop, invest in and manage real estate
17-19 Harris Road Realty LLC
Jenny J. Chen, manager
204 Temple St., West Roxbury MA 02132
Nota Bene LLC
Sonya Nersessian, manager
151 Coolidge Ave., Wathertown MA 02472
Lease, maintain, purchase and sell real estate
254 Chauncy Street LLC
Peter Kuplast, manager
254 Chauncy St., Mansfield MA 02048
Hold title to real estate
Bramble Hill Capital Management LLC
Andrew Tseng, manager
99 Derby St., Ste. 200, Hingham MA 02043
Manage investments, incl. real prop. interests
360 Hexagon LLC
Sandra Edgerley, managers
119 Hyslop Rd., Brookline MA 02445
Dealing with interests in real estate
Granite Block LLC
Clifford Cohen, Mark Devito and Josef Volman, signatories
125 Summer St., Boston MA 02110
Invest in real estate
13 Bartlet Street Realty LLC
Edward M. Sheehan III, manager
Principal office at 5 Iroquois Ave., Andover MA; John E. Hughes Esq.,
c/o McLane Graf Raulerson & Middleton PA at 300 TradeCenter,
Ste. 7000, Woburn MA 01801
Deal with real estate
Benjamin 30 Middle Road LLC
Linda L. Benjamin, manager
19 Sugarbush Ln., Andover MA 01810
Real estate activities
Dynasty Real Estate LLC
Tiesong Ma, manager
31 Bird St., Needham MA 02492
Real estate brokerage
73 Green Street LLC
Debbie Schiro, manager; Greg Cumings, resident agent
Principal office at 76 Davids Way, Bedford Hills NY 10507;
Greg Cumings at 185 Trapelo Rd., Belmont MA 02478
Operate and own real estate
33 Sherborn LLC
sell real property
Jennifer Ziskin, manager
153 Meadowbrook Rd., Needham MA 02492
Acquire, develop, finance, lease, operate and
continued on page 25
THE REAL REPORTER
January 2, 2015
25
Massachusetts Corporations
Organized December 15 - December 25, 2014
Corporation
Directors/Registered Agents
Address
218 Flanders Road LLC
Garrett T. Curtiss and Philip C. Curtiss, managers
81 Mt. Vickery Rd., Southborough MA 01772
Commercial real estate activities
Red Apple Worcester MA LLC
John Catsimatidis, manager
823 11th Ave., NYC 10019
Real estate management
860 Water Street LLC
Ryan J. Bessette, manager
860 Water St., Fitchburg MA 01420
Buy, develop, lease, mortgage and sell RE
Vision Realty Associates LLC
Glen Bolliger, MD; David Tracy, MD: and David Yi, MD, mgrs. 19 Village Sq., Chelmsford MA 01824
Real estate and interests therein
Freeport DB Investments LLC
Theodore Berenson and Stephen McParland, managers
Acquire, develop, finance, lease, operate and
sell real property
C/o Berenson Associates Inc. at 321 Columbus Ave., Boston MA 02116
Nature of Business
A.S.A.P. Mortgage Corp.
Irene Amato, president, treasurer and secretary
2062 E. Main St., Cortlandt Manor, NY 10567
Mortgage broker
Five Lee Court LLC
Christine Kennard and Mark S. Kennard, managers
42 Sunset Dr., Beverly MA 01915
Lease, manage and own real estate
Oxford Pearl LLC
Douglas A. Yoffe, manager
50 Follen St., Cambridge MA 02138
Real estate activities
17 Granada Avenue LLC
Wellington G. Rossi, manager
9 Bobolink St., West Roxbury MA 02132
Real property interests
ALNGF LLC
Alfred R. Yebba, signatory
19 Prospect St., Wakefield MA 01880
Deal with real estate
Olde New England Properties LLC
Timothy R. Gillette, manager
296 High St., Ipswich MA 01938
Develop, lease, manage, purchase and sell RE
DelZig Investment Properties Inc.
Robert Ziegler, pres. and treas ; Deanna Delforte, sec
118 Hidden Valley Rd., Groton MA 01450
Real estate activities
Fisher Saugus LLC
George F. Fisher and Howard B. Fisher Jr., managers
434 Central St., Saugus MA 01906
Acquire interests in real estate
Rossmore LLC
Liam Lydon and Mathias Lydon, managers
16 Billings Ln., Jamaica Plain MA 02130
Develop, lease, manage, purchase and sell RE
Benson Street Realty LLC
Timothy J. Pomerleau, manager
150 Benson St., Fitchburg MA 01420
Invest and operate in real estate
SOWA LLC
Alfred Carpionato, trustee; John F.D. Jacobi III, resident agent Principal office at 144 Bank St., Attleboro MA 02703;
John F.D. Jacobi III at 144 Bank St., Attleboro MA 02703
Real estate
Easton Property Management LLC
William J. Hanney, manager; Thomas Pursley, resident agent Principal office at 7 Central St., South Easton MA 02375;
Thomas Pursley at 45 Bristol Dr., South Easton MA 02375
Manage real estate
99 Cranberry LLC
Kenneth W. Taber, manager; Robert N. Field, resident agent
Principal office at 5080 State Hwy., Eastham MA 02642;
Robert N. Field at 40 Boreen Rd., Eastham MA 02642
Lease, manage and own real estate
4295 State Hwy. LLC
Kenneth W. Taber, manager; Robert N. Field, resident agent
Principal office at 5080 State Hwy., Eastham MA 02642;
Robert N. Field at 40 Boreen Rd., Eastham MA 02642
Lease, manage and own real estate
Kevin Maguire and Peter W. Smith, managers;
Principal office at 75 Arlington St., Ste. 500, Boston MA 02116;
Real estate activities
Robert J. Moriarty Jr., resident agent
Robert J. Moriarty Jr. c/o Marsh, Moriarty, Ontell and Golden PC at
19 Court Street LLC
18 Tremont St., Ste. 900, Boston MA 02108
King 4 Hartwell Place LLC
Thomas Ragno, signatory
200 CambridgePark Dr., Cambridge MA 02140
Deal with real estate
Gosselin Real Estate Holdings Inc.
Stephen Gosselin, president, treasurer and secretary;
Edward J. Richardson, registered agent
Principal office at 1540 Bedford St., Abington MA 02351;
Edward J. Richardson at 339 Washington St., Dedham MA 02026
Develop, hold and manage real estate
Boston Urban Development LLC
Beverley Johnson and Pamela McDermott, managers
30 Rowes Wharf, Ste. 540, Boston MA 02110
Real estate development
HTS River City LLC
David Schore, signatory
15 Store Hill Rd., Ste. 0141, Old Westbury NY 11568
Deal with real estate
Gill Research Drive LLC
Kevin R. Gill, manager
75 Industrial Park Rd., Hingham MA 02043
Acquire, develop and lease real estate
Music Street Realty LLC
Nathan A. Carlucci, manager
1 Toni Ln., Franklin MA 02038
Buy, develop, manage, own and sell RE
Ng Chicopee Realty LLC
Jack Ng and Dungruethai Yomdit, managers
209 Woodcrest Dr., Chicopee MA 01020
Restaurant operations and related interests
in real property
Silverwood Drive LLC
Robert J. Doyle, manager
292 West Broadway, South Boston MA 02127
Dealing with interests in real estate
1349 Centre Street LLC
Myrtha W. Chang, manager
236 Winchester St., Newton MA 02461
Develop, operate, purchase and sell RE
Ten Holten LLC
Maria F. Correia, manager
12 Devonshire Rd., Middleton MA 01949
Real estate and interests therein
Andora Shawmut LLC
Kathleen Joyce Kusiak, manager
22 Ardmore Rd., West Newton MA 02465
Deal with real estate
Hallberg Park Realty LLC
Richard A. Mottolo, manager
5-6 Hallberg Park, North Reading MA 01864
Lease, mortgage, purchase, own and sell RE
Upton Crossings LLC
James F. Maloney and Leanne W. Maloney, signatories
10 North Main St., Upton MA 01568
Real estate activities
460 Acapesket Road LLC
Harry W. Turner, manager
460 Acapesket Rd., East Falmouth MA 02536
Dealing with interests in real estate
Wilfred Rivard Realty LLC
Wilfred F. Rivard Jr., manager
12 Poplar St., Fitchburg MA 01420
Develop, hold and manage real estate
OLP Randolph MA LLC
Richard Figueroa, signatory
60 Cutler Mill Rd., Ste. 303, Great Neck NY 11021
Develop, lease, mortgage, operate and
own real property
Arista Fitchburg LLC
Gregory Botsivales, manager
C/o Botsini Corp. at 450 Station Ave., South Yarmouth MA 02664
Real estate activities
Birch Hill Realty Partners LLC
Kenneth E. Behan and Patricia D. Behan, managers
90 Bliss Rd., Longmeadow MA 01106
Lease and own real property
Mascot Ventures LLC
Scott M. Cunningham and Matthew Roman, managers;
Scott J. Wittlin, resident agent
Principal office at 2 Marine Rd., #3, South Boston MA 02127;
Scott J. Wittlin at 84 State St., Ste. 820, Boston MA 02109
Acquire, develop, lease, manage and sell RE
B Minor LLC
William Mosakowski, manager; James Lyle Esq., res. agent
Principal office at 748 Humphrey St., Swampscott MA 01907;
James M. Lyle Esq. c/o Posternak, Blankstein & Lund at
800 Boylston St., Boston MA 02199
Deal with real estate
ADVERTISING INFO: ADS@THEREALREPORTER.COM
THE REAL REPORTER
26
January 2, 2015
Avison Young Sale
continued from page 2
month, a 21,100-sf lease orchestrated by
Avison Young Vice President Bill Sullivan,
who is serving as exclusive leasing agent.
The Stevens Group negotiated terms for
AT&T, with the telecommunications giant
agreeing to a 10-year deal at 19 Brigham
St.
Ivy Realty is a fully integrated real
estate operating company controlling in
excess of 5.7 million sf, with asset and
property management, plus construction
and leasing services provided in southeast
Florida and the Northeast corridor. First
Colony Development is a Needham-based
company that acquired 41-53 Brigham St.
in Feb. 1994 at a figure of $1.01 million
and a year later, in June 1995, spent $1.26
million on 19 Brigham St.
The Marlborough office market has
been on a rollercoaster during the past
decade, enjoying the highs of the mid2000s before the 2008 recession sent
MetroWest landlords into a five-year tailspin that does appear to be winding down
41-53 Brigham St., Marlborough MA
as tenants closer in to Boston feel the
pinch from skyrocketing rents. Whatever
the reason, Avison Young’s research division shows another 154,000 sf in positive
net absorption during Q4 2014, dropping
the vacancy rate to 22.7 percent and
bringing the net absorption to plus
257,000 sf since mid-year. Flex space in
the submarket is averaging $8.22 per sf for
Class A product and $7.98 for Class B
product, whereas warehouse space is
averaging $6.44 per sf. The warehouse
arena has struggled of late in I-495 West,
posting negative absorption of 73,000 sf
during the past 12 months, but flex space
there has enjoyed a run with 104,000 sf of
net positive absorption in that period,
dropping the vacancy rate for 6.49 million
sf into the single digits at 9.6 percent. The
submarket’s warehouse vacancy is also
low, presently at 8.1 percent for 6.46 million sf despite the 12-month lapse.
n
million last April. The unit that turns 20 this
year sits on nearly an acre of land. It was
acquired by Route 11 Portland Replacement
LLC, which has a New Hampshire address
and is managed by President Mark Stevens.
The buyer earlier this month took out a
$1.23 million loan on 65 Market St. through
Camden National Bank.
Marcus & Millichap’s Vermont broker of
record on the Waterbury listing is Jeffrey
R. Nick, and that, too, had a California hue
in the company’s San Diego office listing
the property while Drinkwater from the
Boston office and Richard from its
Manhattan outpost brought its buyer to Merchant’s Bank, Waterbury VT.
the table, another New England-based investor. The asset at 994 Waterbury
Stowe Rd. “is strategically located off
Interstate 89 with 26,000 vehicles passing
per day,” relays Drinkwater.
A Vice President of Investments at
VOLUME 6, NUMBER 30
Marcus & Millichap, Drinkwater and
© 2015 The Real Reporter, LLC. Ten Post Office
Richard went farther a field for the largest
Square, Boston MA 02109, 617-692-2997. All
of the three separate transactions, as they
rights reserved. No part of this publication
collaborated with the firm’s Cleveland and
may be reproduced without the written conColumbus offices to get the exclusive to
sent of the publisher.
market 140,925 sf at the Mentor City
Shopping Center in its namesake commu-
nity at 7845 Mentor Ave. Sporting a lineup
of tenants who are 96 percent national
retailers, its roster includes the likes of
Aldi, Babies R Us, Dollar Tree and TJ
Maxx. The property is across the street
from Simon Property Group’s Great Lakes
Mall, a super-regional enclosed center
anchored by Dillard’s, JC Penney, Macy’s
and Sears. Craig Fuller, Erin E. Patton and
Scott Wiles from the Marcus & Millichap
Ohio contingent brought the buyer to the
Mentor deal.
n
Marcus & Millichap
continued from page 4
The Real Reporter
January 2, 2015
THE REAL REPORTER
27
South Shore Place
continued from page 1
Leonard Bierbrier has the asset tied up
and is expected to close early this month,
the investment said to eclipse $41 million
will give his Lexington-based firm now celebrating 40 years in business coverage
throughout metropolitan Boston, with
other properties in Arlington, Brockton,
Haverhill Medford and
Newton. The latter is
Bierbrier Development
Co.’s latest endeavor,
construction of a multitenanted shopping center on Needham Street
near upscale Newton
Leonard Bierbrier Highlands.
Arlington
and the Newton developments are part of
Bierbrier’s
emerging
brand of retail centers
known as the Village
Shops as in “Needham
Street Village Shops,” a
venture
previously
Richard Friedman detailed
by
Real
Reporter in which his firm assembled the
site and is doing ground-up construction.
Bierbrier and members of HFF’s Capital
Markets contingent did not respond to
inquiries from Real Reporter regarding the
Braintree agreement, but sources insist
the deal is nearing a conclusion after a
“hotly contested” competition, one industry
expert conveys. “It has
everything,” the observer relays, including an
“outstanding location”
across from the South
Shore Mall on a site
to
the
Coleman Benedict adjacent
Braintree Sheraton that
Carpenter & Co. principal Richard Friedman
acquired in May 2010 for
$9.1
million
and
replaced with a 200-unit
Hyatt hotel, plus now
has the retail as an onBenjamin Sayles
site amenity for guests
along with the general public. The retail
lineup reflects South Shore Place’s dualpronged demographics, including Five
Guys Burgers, Galleria of Jewelry, and
Legal Seafood in the fully leased develop-
ment. Carpenter & Co. is also harvesting
the hotel through HFF and its hotel specialist, Denny Meikleham. The retail exclusive is being handled by Senior Managing
Director Coleman Benedict, Director
Benjamin Sayles and Analyst Patrick
McAneny, according to marketing materials in circulation.
The asset that was essentially peddled
during 2014 underscores another healthy
season for retail, even that outside of
Boston in areas battered by the 2008
recession
which
sent
eastern
Massachusetts retail vacancies to
approach 25 percent. Core product is
especially prized, and when one industry
veteran declares “there is nothing else like
it” available in the region, those spoken to
offered support for the bidders, competition left unnamed besides Bierbrier,
whose knowledge of the sector was
offered as further validation to the robust
response. Those spoken to could not say
whether the project has a lender in tow or
whether HFF is overseeing that aspect of
the deal via its debt and structured
finance division that is coming off its own
blockbuster 2014 to complement the
Capital Markets group whose accomplishments were highlighted in having the
largest office building sale in the Hub this
decade, the $1.1 billion trade of the Vertex
headquarters at Fan Pier on behalf of the
n
Fallon Co.
Cassidy Turley Review
cy rate is now 7.8 percent for the submarket which has maintained a sub-10 percent vacancy for eight consecutive years.
During that stretch, office rents have
increased by 110 percent. Cassidy Turley
pegs the lab vacancy in Cambridge overall
at 10 percent after a decline of 2.2 percent
in the past year, and as a result, lab rents
increased by 4 percent to an average of
$57.73 per sf across all submarkets.
Dalton predicts the positive momentum will continue into the New Year. “In
2013 everybody was still doubting the
economy and where we were headed as a
market, but 2014 definitely busted
through that layer of uncertainty that we
had for a long period of time,” says Dalton.
“I think in 2015 we will see a lot of people
making decisions and commitments.” n
continued from page 6
(602,531 sf) posting the lion’s share of
those gains. The vacancy rate for Class B
properties (7.7 percent) was actually
lower than that of Class A (8.7 percent)
but asking rates for top rated product
crept over the $50 per sf mark ($50.51) in
2014, while Class B properties are averaging $31.58 per sf. Asking rents for the
Seaport District surged to $56.10 per sf in
2014, trailing only the Back Bay ($58.28).
Across the river, Kendall Square
remains the story, with average rents for
both office ($62.22 per sf) and lab space
($60.98 per sf) topping the $60 mark, and
asking rates for premium office space now
well into the $70’s per sf. The office vacan-
28
THE REAL REPORTER
January 2, 2015
Boston Landing
continued from page 1
under construction on campus including the
NHL Bruins practice facility that broke
ground earlier this month
amid a media frenzy. Now,
it
appears
HBS
Publications will rejoin
the Allston-Brighton community from which it relocated
to
abutting
Watertown after Harvard
John Osten
University bought the
complex in May 2001 for
$162.6 million. The school
was intent on being a tenant at Arsenal on the
Charles until being
Boston Landing, Brighton MA (Rendering)
acquired last year by
athenahealth for that expanding Allston campus is a quick drive
group’s own purposes at a from Boston Landing and is on an MBTA
Steven Purpura
bus route connecting to Harvard Square.
price of $168 million.
That
landmark “That’s what happened,” one CRE profesexchange that has trans- sional familiar with the situation says of
HBS Publishing’s motiformed Watertown unto
vation for departing
an inner suburban powfrom a bucolic setting on
erhouse is considered a
the 14.5-acre complex.
factor in the HBS pub“They (athenahealth)
lishing unit backtracking
really need the space.”
to its old stomping
Transwestern RBJ is
Chris McCauley
grounds and to a facility
exclusive
leasing agent
that promises a short
James
Davis
at
Boston
Landing on a
walk from the Charles
team
led
by
Managing
Partner
Steven
River, bustling Brighton
Purpura
with
Senior
VP
Chris
McCauley
Center and a train station being built that will and Leasing Associate Danielle DeMarco
connect to the Back Bay whereas John Osten of JLL is reportedly
and South Station via advising the tenant. Calls to both firms
commuter rail. Harvard were not returned by press deadline, but
Danielle DeMarco Business
School’s there has been talk of a letter of intent
signed between the parties, and multiple
industry professionals are supporting the
concept that the entity is targeting Boston
Landing, a 650,000-sf venture on 15 acres.
If it bears out, HBS would be a neighbor to
WGBH-TV, the public broadcasting icon
that owns and occupies the building next
door to the New Balance space. The station was previously on the edge of the HBS
campus near Harvard Stadium before relocating to its current home that overlooks
the Massachusetts Turnpike Extension.
Should the deal come through, it would
remove a large option for tenants in the
Brighton and Watertown district. The yearend Avison Young office market survey
puts the vacancy at a thin 6.8 percent
there, and the New Balance property was
among just three in the area including
Cambridge that can accommodate a tenant
in need of 100,000 sf or above that level.n
Carbonite HQ
expansion. “Lafayette City Center and
Downtown Crossing is a convenient and
vibrant space to be,” Carbonite Vice
President Danielle Sheer conveys in the
release, noting its venue in the center of
Boston’s diversifying economy chock full of
start-ups and technology companies. “I am
grateful to the team that helped select the
site and coordinated our needs across the
company,” says Sheer, adding, “we continue
to work alongside a terrific group of advisors, architects and builders on what is truly
a fantastic new Carbonite headquarters.” n Carbonite headquarters, Boston MA
Photo: Robert Benson
continued from page 5
January 2, 2015
THE REAL REPORTER
29
Calare
continued from page 1
tional quality assets after a period of funding its ventures with monies procured
from high-net worth investors.
“We won’t be abandoning them, but we
do see more opportunities to move
beyond value-add and provide institutional quality deals, and we worked for nine
months to make sure our website was
more user friendly for institutional
investors and makes very clear our capabilities as we move beyond New England
where we are well known and reach out to
institutional (capital),”
relays Blake, an acumen
demonstrated in the $11
million purchase in midDecember of 20 Seyon
St. in Watertown and
separate acquisition of
the Connecticut buildSean Duffy
ing at 40 Pepe’s Farm
Rd., that a 200,000-sf
industrial facility that
Manley explains is part
of a limited inventory of
top-quality industrial
product in the submarket through which
Interstate 95 traverses.
Robert Gibson
In that instance,
Calare’s reputation preceded itself, having been
pitched the opportunity
off market because the
owner needed to close
out a fund in a limited
time period. “They
needed someone they
William Moylan
could count on to close,
and they felt comfortable we could do
that,” Manley says, adding he believes
being adroit is of further use in securing
institutional grade deals in a period where
such assets are becoming increasingly coveted thanks to the stronger economy and
limited inventory.
“When we are provided with a reasonable opportunity and reasonable seller, we
can provide them a reasonable expectation that we will do what we said we will
do,” he says. “With the right information,
we can give them that assurance.” Calare
also had the ability to buy the Connecticut
building all-cash, although the intention is
get financing and use proceeds to reposi-
20 Seyon St., Waltham MA
tion the asset into an institutional-grade property that
Manley says is already aided
by having clear heights to 30
feet and other features
required of new millennium
industrial tenants. “I like the
I-95 location and it is one of
the nicest quality buildings in
that market,” says Manley of
the structure that dates to
1981. “We need a little capital 40 Pepe’s Farm Rd., Milford CT
to fix it up, but we feel pretty comfortable happens with the neighborhood,” says
that and the time it takes will be worth the Blake, whose firm was brought to the
effort (because) there are a lot of good opportunity by CBRE/NE principals
things there that we see there.” Upgrades Robert Gibson and William Moylan.
will include a new roof, add windows to Constructed in 1981, the building totals
the offices and paint the entire warehouse 95,000 sf on a 5.5-acre parcel with parking
while gussying up the grounds. Those ini- for 136 vehicles. One bonus touted by
tiatives should help attract tenants for the Blake is 20 Seyon St. being in the Pleasant
100,000 sf available at the time of its pur- Street Corridor Zoning District that allows
for a variety of uses. The seller was Hilco
chase.
The Fairfield County deal expands Real Estate and its HRE Watertown LLC
upon Calare’s existing Connecticut hold- entity, and Blue Hills Bank delivered $7.25
ings near Hartford. The venture was million in financing to CPI 20 Seyon LLC.
The new Calare website was designed
brought to his firm’s attention through
Cushman & Wakefield broker Sean Duffy, by Stephen Labuda, founder of Agency
a professional credited by Manley for hav- 3.0, a Hub-based web design and developing ferreted out some two million sf of the ment company. The rebranding campaign
firm’s holdings in the state. “We couldn’t incorporates the website with a new logo,
be happier with him,” Manley says, calling color scheme and social media platforms.
Duffy “absolutely one of the top brokers in Beyond getting the firm’s message out to
that market.” Colleague Timothy institutional investors, the rebranding iniD’Addabbo joined Duffy on the Milford tiative is meant to reflect Calare’s goals,
mission and focus on the real estate sector
assignment.
Twenty Seyon St. has institutional met- and shows the collective growth since its
tle as well, outlines Blake in characterizing founding in 2003. “Agency 3.0 worked
that building as more of a long-term hold tirelessly with us to ensure we had a finin an emerging area on the Waltham bor- ished product that we could be proud of,”
der that could foment a so-called “higher- Blake conveys, adding, “We look forward
and-better-use” down the road, perhaps to further establishing ourselves in the
joining the growing stripe of retail projects Northeast and beyond, and are excited to
running along Pleasant Street to see our newly designed marketing collatWatertown Square. “We really like the eral displayed throughout the region, as
n
property and we can wait and see what well as across digital platforms.”
THE REAL REPORTER
30
January 2, 2015
Commodore Builders
continued from page 7
restaurants, and with the construction of
the 120,000-sf office building awaiting a
tenant; the 315,000-sf US headquarters of
Vistaprint being developed at 275 Wyman
St. in the Hobbs Brook Office Park by
HBM, a $100 million project scheduled to
be completed in June; and Boston
Properties’ 10/20 City Point, a 230,000-sf
office building that will be anchored by
shoe manufacturer Wolverine Worldwide
taking 150,000 sf. Commodore is also
doing pre-construction services at the
adjacent 20 City Point site while BP scouts
a tenant to anchor the proposed 190,000sf building.
Commodore was able to score the 275
Wyman St. assignment directly as a result
of the longstanding relationship A.J.
Martini had with Hobbs Brook
Management and its president, Thomas
Dusel. Albanese estimates Martini built
“85 percent of Hobbs Brook Office Park
over the last 30-40 years” including 404
Wyman (HBM’s headquarters) and the old
275 Wyman St. (which was demolished to
make way for the new building) and 610
Lincoln St. Albanese himself worked for
Martini for a five-year stretch from 1988 to
1993, during which time he was involved
in the construction of 404 Wyman St. in
the Hobbs Brook Office Park, giving him a
personal knowledge of the portfolio.
The ground-up projects have resulted in
explosive growth for Commodore, which
saw its revenue more than double year over
year, from $110 million in 2013 to $230 million in 2014, and Albanese expects the
10 City Point, Waltham MA (RENDERING)
momentum to continue into the New Year. pendent and dedicated teams, we’ve been
“We’ve really staffed up and we’re working able to grow without a lot of stress on the
on a $340 million program for 2015, and organization.” In addition to the Waltham
developments, Commodore
we’ve booked a little over
is currently doing a number
$200 million towards that as
of right now,” he relays.
The larger projects are of academic projects for the
likes of Boston College and
Commodore added approxifueling our growth,
Mt. Ida College, as well as a
mately 25 employees in
and we’ve got a
$25 million, 70,000-sf
2014 to bring permanent
number of projects
Match Charter Public
staffing to 165 in addition to
that are $25 million School in Hyde Park for the
the “40 to 90” carpenters
city of Boston.
and laborers the firm
or above.
But the increase in large
employs in any given week.
“The larger projects are
scale projects has not taken
fueling our growth, and
the firm away from its
JOSEPH ALBANESE
we’ve got a number of projbread-and-butter business,
ects that are $25 million or above,” says which for the firm’s first decade consisted
Albanese. “And because the growth is mostly of interior fit outs for corporate
being fueled by larger projects with inde- clients. “Our current growth is comprised
of larger work, but the previous 10 years of
growth for us were on $2 million and $3
million projects,” says Albanese. “And
we’re still doing our legacy those deals.
We’re not abandoning any of the markets
that we founded our company on, but
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