Your Source for Commercial Real Estate News

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Your Source for Commercial Real Estate News
The Real Reporter
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JANUARY 14, 2010
THIS WEEK’S ISSUE
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Crown & Colliers . . . . . . . . . . . . . . . . 2
. .e. W
...............3
retroKane
peGain.
R yl.k. e
Condo Attitude . . . . . . . . . . . . . . . . . 4
Bean There . . . . . . . . . . . . . . . . . . . . 8
BY JOE CLEMENTS
ate philanthropist will ensure an extended
Mr. Peabody . . . . . . . . . . . . . . . . . . 15
Linde’s Legacy Lauded as Deep
Cambridge Impact is Weighed
C
THE REAL REPORT
Family Ties
BOSTON—This could take some getting used to, but on many levels, the
unexpected departure of Cushman
& Wakefield Executive Director
Marci Griffith Loeber from New
England’s preeminent investment
sales team is certainly understandable. After all,
despite working
alongside
colleagues Robert E.
Marci Griffith Loeber Griffin Jr. and
Edward C. Maher Jr. for 20 years,
Loeber notes in a letter announcing
her move from a career broker to
buyer that, “Remarkably, I have had a
relationship with one of my new
partners even longer!”
That would be none other than
veteran developer/investor J. Brad
Griffith, Loeber’s father and
founder
of
Burlington-based
Griffith Properties, at which she
will be helping acquire assets for a
third investment fund being assembled by the firm. Loeber got her hankering for real estate as a child
accompanying Griffith on property
continued on page 15
AMBRIDGE—Edward H. Linde may
be gone, but in more ways than one,
he certainly will not be forgotten.
Evident in the ceaseless eulogies from
industry colleagues and
others offering tribute
upon his passing last
weekend, the Boston
Properties CEO’s imprimatur as a prolific
Edward H. Linde
developer and inveter-
tenure in the hearts of those he touched
and the places they frequent. Launched in
1970 with famous sidekick Mortimer
Zuckerman, the Boston Properties portfolio forged by Linde today covers the gamut
of real estate product, including residential and retail buildings, laboratories and
industrial structures, gleaming office towers and luxury hotels stretching from
Massachusetts down to New York City and
out to San Francisco.
continued on page 11
Cambridge Lab Market Surges Onward
BY JOE CLEMENTS
C
AMBRIDGE—The tempest sweeping
across vast tracts of New England’s
commercial real estate landscape has
seemingly spared this city’s 7.7-million-sf
laboratory enclave, and observers say a
late-season surge should poise for even
better results as 2010 progresses, boosted
by constricted supply and Cambridge’s
renowned global cache.
“We had a great year,” relays Richards
Barry Joyce & Partners principal Steven
Purpura, a Cambridge specialist whose
own firm negotiated more than a half-million sf of lab deals during the just-completed campaign in which life sciences
companies signed eight of the city’s 10
largest leases. The RBJ team of Purpura,
Robert Richards, Eric Smith and Jonathan
Varholak orchestrated five of the top six
transactions, the firm reports, all but one
involving laboratory space, with the
exception an 85,000-sf renewal/expansion
continued on page 13
Unleashed Ties Up Allston Retail Space
BY JOE CLEMENTS
B
OSTON—It is the kind of store local
animal lovers have been begging for,
and soon they will have their wish
following a lease signing of 4,500 sf at 226
Harvard Ave. by Petco. The San Diegobased emporium is launching its first
regional “Unleashed” boutique pet shop at
the recently completed office/retail building, bringing to Allston a concept that
offers a mix of food, supplies and pet serv- 226 Harvard Ave., Allston MA
ices, including grooming and walking says Jason S. Weissman, whose Boston
options.
Realty Advisors is exclusive leasing agent
“We’re excited about having them,”
continued on page 14
THE REAL REPORTER
2
January 14, 2010
CM&G Secures Crown Colony Listing
Q
UINCY—One week after acquiring
300 Crown Colony Dr. from Invesco
Real Estate Advisors, the Campanelli
Cos. has named Colliers Meredith & Grew
exclusive leasing agent for the Class A
office building. CM&G’s selection underscores Campanelli’s plans to expeditiously
fill the five-story, 118,000-sf property that
already boasts a roster of top-flight tenants and standing among Route 128
South’s premier business addresses.
“It’s a fantastic building,”
says
CM&G
Executive
Vice
President
James
Elcock, on a team that
includes suburban specialists David Goodhue
and Caleb Hudak. “We
James Elcock
are thrilled to be a part
of the Crown Colony team and look forward to a successful leasing campaign.”
Occupancy at the time of the $8.9 million
sale was about 70 percent.
Efficient floor plates averaging 25,000
300 Crown Colony Dr., Quincy MA
sf, a grand five-story atrium and oak and
marble finishes are hallmarks of its physical attributes, but Elcock stresses those
“superior” aspects will not necessarily
leave a price-conscious tenant out in the
cold. Having paid barely half the $16.3 million that 300 Crown Colony Dr. fetched
four years ago, Campanelli can offer competitive rates compared to other product,
according to Elcock, also encouraged by
the new owner’s vast experience handling
commercial real estate of all sorts.
“They are deal guys and real profescontinued on page 12
82% Leased Just one full-floor remaining!
To join the growing list of clients at TradeCenter 128,
call Eric Anderson at 781-932-7038
TradeCenter128.com
THE REAL REPORTER
January 14, 2010
Kane Co. Brokers
6.7-Acre Site Sale
3
4HERE§SANEWFACE
INTHEWORKPLACE
3612 Lafayette Rd., Portsmouth NH
BY JOE CLEMENTS
P
ORTSMOUTH, NH—Toyota specializes in environmentally
friendly hybrids, and from a real estate perspective, the
buyers of a Route One dealership that previously featured
the popular Prius have a two-way sustainability plan in store for
the now-vacant 6.7-acre site. The $1.1 million sale was negotiated by Kane Commercial Co. of Portsmouth.
“It’s going to be quite cutting edge,” relays broker Lisa A.
Kane of client Simply Green’s plan to convert 3612 Lafayette Rd.
into retail and office space favoring firms committed to conservation. Specializing in biofuels, Simply Green will
relocate from Islington Street upon a gut renovation now underway at the two-level,
18,000-sf building. Technologies such as geothermal heating will be employed, while the
restoration process will use materials and
practices in keeping with environmental precepts. Fortunately, unlike many properties
Lisa Kane
once used for auto-related purposes, 3612
Lafayette Rd. did not have any severe contamination, relays
Kane Commercial broker Jody Skaff, who negotiated terms for
seller Jay Edwards along with company founder Jean Kane.
“We were thrilled to get it done,” says Skaff, especially since
the asset sat fallow for an extended period including one of the
slowest years ever for investment sales nationally and throughout New England. Not only was disposition of 3612 Lafayette Rd.
able to meet the target of a 2009 closing, the leasing campaign
that Kane Commercial will continue handling has already produced two tenants, those being biomaterials firm MatMarket and
Mesh 01, a software company.
The redevelopment process is so fresh that a final space calculation has not been made, but Skaff expresses confidence
prospects will be attracted to the property. Visibility is enhanced
by 250 feet of frontage along Route One, and she says retailers
benefit from two well-known neighbors who advertise heavily.
State Street Discount is a stalwart of the Seacoast appliance and
electronics industry, while the popular Allen Wayside Furniture
continued on page 12
Preferred Offices and Synergy Workplaces
have joined to create Carr Workplaces, the next
generation of innovative workplace solutions.
s
Flexible terms: 1–36 months
s
Offices and team rooms (1-50 people)
s
23 fully-equipped Class A locations nationally
s
Up to 40% less expensive than traditional leasing
Visit carrworkplaces.com to tour all our centers.
Boston: Laurie Snelson, Managing Director:
617.692.2900; [email protected].
Nationally: Morgan Watson, Director of Channel Marketing:
202.349.1410; [email protected].
12% COMMISSION
for referrals introduced after December 8 and closed by January 31
Commission calculated on office rent only. Not to be combined with other offers.
e#
o;
er
THE REAL REPORTER
4
January 14, 2010
Cornerstone Secures $8.85M Multifamily Loan
B
OSTON—A 47-unit condominium in
the Hub’s Fenway neighborhood that
is being reverted back to apartments
has been underpinned by fresh debt
thanks to an $8.85 million refinancing.
Closing late in the fourth quarter, the 10year, fixed rate loan from was arranged by
Cornerstone Realty Consultants of Malden
for 56-58 Queensberry St.
Cornerstone principals Paul Natalizio
and Brett Pagani represented the borrower, Heiam Corp., whose president is Anwar
Faisal of Brookline. The local investor has
been acquiring condominiums in the
building for an extended period, finally
buying the last unit in 2009 to enable the
conversion to a rental property.
Terms of 5.5 percent and a loan amount
approaching $190,000 per unit were delivered with a 30-year amortization.
Cornerstone cites the borrower’s “strong 56-68 Queensberry St., Boston MA
operating history” and the broker’s own
ability to work with the appropriate mid-five (percent range) we thought was
lenders for the “attractive” terms negotiat- pretty good,” he says, noting the recent
ed. Two adjoining brick buildings in a rise in US Treasury rates.
Cornerstone specializes in structuring
proven residential neighborhood, the
properties were also a plus, according to and sourcing innovative financing for all
Pagani. “To get something done in the property types, and offers 1031 exchange
consulting and acquisition services. Pagani
says 2009 was actually stronger than 2008,
with a $17 million loan secured for a property on Commonwealth Avenue in Boston
among the significant transactions comn
pleted.
RePrints
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Volume 1 Number 19 |
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With Reprints from The Real Reporter, you will
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THE REAL REPORTER
January 14, 2010
5
Million Dollar Deals
MORTGAGES/SALES JANUARY 4 - JANUARY 8, 2010
JAN 8TH
BUYER: Sewall 15 Acquisition LLC
SELLER: Delaporte Development Inc.
ADDRESS: 15 Sewall St., Newton
PRICE/TYPE: $3,000,000 (RES)
MORTGAGE: $1,700,000 from Bank of America
NOTES: Single-family Colonial, built 1913;
house size is 5,800 sf, lot size is 19,225 sf; six
bedrooms and 5.5 baths; last sold for
$1,500,000 in Sept. 2008
BUYER: Barbara C. and William P. Roger III
SELLER: Marcus S. Alexander
ADDRESS: 29 Irving St., Lots 1-5, Cambridge
PRICE/TYPE: $2,250,000 (LAND)
MORTGAGE: $1,000,000 from First
Republic Bank
BUYER: Kenwood Builders LLC
SELLER: Charles A. and Marion E. Ferro
ADDRESS: 64 Naples Rd., Lot 118, Brookline
PRICE/TYPE: $1,850,000 (RES)
MORTGAGE: $2,234,000 from Wellesley Bank
NOTES: Single-family Victorian, built 1897;
house size is 11,625 sf, lot size is 4,150 sf;
nine bedrooms and 2.5 baths; seller’s ownership dates to Jan. 1956
BUYER: Clairmont Realty LLC
SELLER: Constance L. Acton and Frank W.
Generazio Jr.
ADDRESS: 655 Cochituate Rd., Framingham
PRICE/TYPE: $1,800,000 (COM)
MORTGAGE: $1,350,000 from Watertown
Savings Bank
NOTES: Commercial property; building size is
24,300 sf, lot size is 1.1 acres; seller’s family
ownership dates to Dec. 1965
BUYER: Gary A. Orseck
SELLER: Thomas K. Birch, trustee of 125
Barnes Road Realty TR
ADDRESS: 125 Barnes Rd., Oak Bluffs
PRICE/TYPE: $1,668,000 (RES)
MORTGAGE: $729,750 from Wells Fargo
Bank NA
NOTES: Single-family, built 2007; house size is
2,250 sf, lot size is 1.7 acres; two bedrooms and
2.5 baths; last sold for $950,000 in July 2006
BUYER: Cranmore Road Investments LLC
SELLER: Kay G. Lyons
ADDRESS: 54 Cranmore Rd., Lot 1, Wellesley
PRICE/TYPE: $1,635,000 (RES)
MORTGAGE: $1,800,000 from Needham Bank
NOTES: Single-family, built 1982; house size is
5,425 sf, lot size is 33,575 sf; five bedrooms and
five baths; last sold for $454,800 in Dec. 1982
A single-family Victorian at 64 Naples Road in Brookline has changed hands for the first time in a half-century.
Totaling more than 11,600 sf, the nine-bedroom, 2.5-bath residence that dates to 1897 was sold by Charles A.
and Marion E. Ferro to Kenwood Builders for $1,850,000, financed by a $2,234,000 mortgage from Wellesley
Bank.
BUYER: Nite Cloud Art Inc.
SELLER: Richard S. Leghorn and Robert R.
Woodburn Jr., trustees of RSL Cambridge Realty TR
ADDRESS: 975 Memorial Dr., U-703, Cambridge
PRICE/TYPE: $1,250,000 (RES CONDO)
NOTES: Unit in high-rise condominium; unit
size is 1,350 sf; two bedrooms and two baths;
with parking space; last sold for $1,595,000 in
Feb. 2005
BUYER: Robert G. Maguire
SELLER: Patricia Loring
ADDRESS: 97 West Cedar St., Boston
PRICE/TYPE: $1,249,000 (MULTI-FAM)
MORTGAGE: $849,000 from Rockland Trust Co.
NOTES: Four-to-six unit apartment property,
Federalist-style, constructed 1899; building size
is 2,375 sf; lot size is 1,125 sf; assessed value
$976,000; last sold for $81,500 in Sept. 1979
BUYER: Nashaway Realty LLC
SELLER: Matthew S. and Sondra D. Knowles
ADDRESS: 46-50 High St., Clinton
PRICE/TYPE: $1,098,173.11 (MXD)
NOTES: Five-story property, constructed 1896;
commercial first floor, 16 apartments on upper
levels; building size is 22,950 sf, lot size is
12,750 sf; last sold for $1,280,000 in Jan.
2006
BUYER: Joan E. and Joseph A. Truxler
SELLER: JoAnna M. Wells and Jonathan F. Wells
ADDRESS: 33 Franklin St., Marblehead
PRICE/TYPE: $1,000,000 (RES)
NOTES: Single-family Antique-style, built
1740; house size is 2,625 sf, lot size is 22,000
sf; three bedrooms and 1.5 baths; last sold for
$500,000 in June 2008
JAN 7TH
BUYER: KO Realty Corp.
SELLER: Anthony DiLorenzo, trustee of
Hastings Realty TR
ADDRESS: 234-240 Worcester St., Wellesley
PRICE/TYPE: $5,000,000 (COM)
NOTES: Auto dealership on Route 9; lot size is
2.5 acres
BUYER: Interstate Container Lowell LLC
SELLER: Lowell Industrial LLC
ADDRESS: 240 Industrial Ave. East, Lowell
PRICE/TYPE: $1,875,000 (COM)
NOTES: Single-story industrial property, constructed 1963; building size is 167,125 sf; last
sold for $2,900,000 in Aug. 2005; assessed
value of $4,477,700
BUYER: Gordon B. Lankton
SELLER: Stephen J. Philbin
ADDRESS: 195 Union St., Clinton
PRICE/TYPE: $1,090,000 (COM)
NOTES: Single-story office property, constructed 1860; building size is 4,525 sf, lot size is
4,400 sf; last sold for $80,000 in Aug. 1986
continued on page 6
THE REAL REPORTER
6
January 14, 2010
Million Dollar Deals
MORTGAGES/SALES JANUARY 4 - JANUARY 8, 2010
continued from page 5
BUYER: Andrew T. LaGrega and Mary M. Powers
SELLER: John W. and Therese Kelleher
ADDRESS: 385 Essex St., Lynnfield
PRICE/TYPE: $1,004,500 (RES)
MORTGAGE: $410,000 from Sovereign Bank
NOTES: Single-family, built 2007; house size is
3,875 sf, lot size is 2.4 acres; five bedrooms,
two baths and two half-baths; property last
sold for $300,000 in Aug. 2000
BUYER: Naomi M. Simon and Kwok Kin Wong
SELLER: Ann Marie Schreiber and John J. Schreiber
ADDRESS: 49 Columbia Rd., Arlington
PRICE/TYPE: $1,002,000 (RES)
MORTGAGE: $523,000 from Bank of America
NOTES: Single-family Colonial, built 2007;
house size is 3,025 sf, lot size is 11,150 sf;
three bedrooms and 3.5 baths; property last
sold for $469,000 in June 2005
MORTGAGE: $1,000,000 from Rockland Trust Co.
ADDRESS: 212 North St., Foxborough
BORROWER: Catherine H. O’Brien and
William J. O’Brien
MORTGAGE: $1,000,000 from First Eastern
Mortgage Corp.
ADDRESS: 34B Atlantic Ave., Cohasset
BORROWER: Christine A. and Thomas A. Fogarty
JAN 6TH
BUYER: Lawrence S. Kanarek, trustee of
Lawrence S. Kanarek Rev TR
SELLER: Robert L. Rohrer Jr. and Thomas E.
Rohrer, trustees of Rohrer Vineyard Realty TR
ADDRESS: 391 Indian Hill Rd., West Tisbury
PRICE/TYPE: $3,050,000 (RES)
NOTES: Single-family, built 1996; house size is
3,875 sf, lot size is 6.9 acres; five bedrooms
and three baths; property last sold for
$460,000 in Jan. 1996
BUYER: Attilio Cardoropoli, trustee of Twin
Hills Realty TR
SELLER: Twin Hills Realty Inc.
ADDRESS: 700 Wolf Swamp Rd., Longmeadow
PRICE/TYPE: $2,650,000 (LAND)
MORTGAGE: $2,500,000 from Twin Hills
Realty Inc. and $6,000,000 from Carib
Investment Corp.
NOTES: Vacant land; parcel size is 137 acres;
last sold for $1,230,000 in Aug. 1970
BUYER: Annemarie Greenberg, trustee of
Epiphany Nom TR
SELLER: Marilyn J. Bernheimer
This three-year-old Arlington Colonial at 49 Columbia Rd. has new owners in Naomi M. Simon and Kwok Kin
Wong after being purchased from Anne Marie Schreiber and John J. Schreiber for $1,002,000. Acquisition of
the 3,025-sf, three-bedroom home was financed by a $523,000 loan from Bank of America.
ADDRESS: 73 Old Colony Rd., Lots 55A and
55B, Wellesley
PRICE/TYPE: $2,042,891 (RES)
MORTGAGE: $1,230,000 from Boston
Private Bank & Trust Co.
NOTES: Single-family Colonial, built 1938;
house size is 4,105 sf, lot size is 22,500 sf; six
bedrooms and 3.5 baths; property last sold for
$365,000 in Feb. 1984
BUYER: Ellen M. and Thomas J. Murphy
SELLER: 131 Fairfield Street LLC
ADDRESS: 20 Dawson Dr., Lot 6, Needham
PRICE/TYPE: $1,275,000 (RES)
MORTGAGE: $800,000 from Needham Bank
NOTES: Single-family, built 2009; house size is
3,150 sf, lot size is 9,500 sf; four bedrooms and
2.5 baths; last sold for $107,000 in Dec. 1982
BUYER: 198 Rawson Road LLC
SELLER: Barry E. Gross, Arlene P. Miller and
Sean Segaloff
ADDRESS: 198 Rawson Rd., Lot G, Brookline
PRICE/TYPE: $1,120,000 (MULTI-FAM)
MORTGAGE: $1,440,000 from Wainwright
Bank & Trust Co.
NOTES: Two-family, built 1890; house size is
4,725 sf, lot size is 7,745 sf
SELLER: Patti and Stuart A. Rosenberg
ADDRESS: 255 Fisher Ave., Brookline
PRICE/TYPE: $2,150,000 (RES)
NOTES: Single-family Colonial, built 1910;
house size is 5,175 sf, lot size is 13,050 sf; five
bedrooms and 4.5 baths; last sold for
$1,850,000 in March 2004
BUYER: Worcester Academy
SELLER: Cabfam Vernon Hill Realty LLC and
Vernon Hill Development Realty LLC
ADDRESS: Lots A-1A and A-3 Marion Ave. off
Providence and Shannon Streets, Worcester
PRICE/TYPE: $2,000,000 (COM)
NOTES: Seller c/o The Liberty Cos., Boston
BUYER: Jenny Zinye Lin
SELLER: Elizabeth M. Loughlin
ADDRESS: 126 Buckskin Dr., Weston
PRICE/TYPE: $1,980,000 (RES)
NOTES: Single-family, built 1996; house size is
5,450 sf, lot size is 1.4 acres; five bedrooms
and five baths; Declaration of Homestead; last
sold for $1,300,000 in June 1997
BUYER: Esther P. and Jeffrey M. Jaffe
SELLER: Kenwood Investments LLC
ADDRESS: 7 Winthrop Rd., Lot 2B, Brookline
PRICE/TYPE: $1,840,000 (RES)
JAN 5TH
BUYER: Krisstina A. Yee, trustee of Stoney
Beach 2010 Rev TR
BUYER: Cristina and Jose R. Suarez
SELLER: Yvon Cormier, trustee of CA Investment TR
continued on page 7
THE REAL REPORTER
January 14, 2010
7
Million Dollar Deals
MORTGAGES/SALES JANUARY 4 - JANUARY 8, 2010
continued from page 6
ADDRESS: 10 Shandel Cir., Lot 5B, Andover
PRICE/TYPE: $1,568,598 (RES)
MORTGAGE: $1,254,878 from River Bank
NOTES: Single-family; house size is 5,900 sf,
lot size is 20,000 sf; four bedrooms and three
baths
MORTGAGE: $1,494,000 from UBS AG
ADDRESS: 224 Jerusalem Rd., Cohasset
BORROWER: Brooks Orpik
MORTGAGE: $1,485,000 from ING Bank FSB
ADDRESS: 45 Lowell Rd., Lot 133, Wellesley
BORROWER: Cori A. and Joseph J. Mullany
BUYER: Louise Duart and Squire Rushnell
SELLER: Geret C. and Paula Anne Conover
ADDRESS: 61 Davis Ln., Edgartown
PRICE/TYPE: $1,450,000 (RES)
MORTGAGE: $200,000 and $500,000 from
Edgartown National Bank
NOTES: Single-family, built 1870; house size is
1,325 sf, lot size is 1,000 sf; three bedrooms and
two baths; last sold for $710,000 in Jan. 2001
BUYER: Patricia C. and Rhodri J. Harries
SELLER: Carol L. and Theodore M. Shediac
ADDRESS: 75 Atlantic Rd., Gloucester
PRICE/TYPE: $1,275,000 (RES)
NOTES: Single-family, built 1900; house size is
2,825 sf, lot size is 7,475 sf; four bedrooms
and three baths; last sold for $605,000 in
Sept. 1999
JAN 4TH
BUYER: Richard M. Brown and Sheila Brown,
trustees of Richards Keep Nom TR
SELLER: Louise A. Duart
ADDRESS: 76 Edgartown Bay Rd., Edgartown
PRICE/TYPE: $3,866,000 (RES)
NOTES: Single-family, built 1979; house size is
3,675 sf, lot size is 38,275 sf; three bedrooms and
three baths; last sold for $585,000 in June 1998
BUYER: Edvaldo Morata
SELLER: Stephen J. Cohen, trustee of 50
Gordon Road Realty TR
ADDRESS: 50 Gordon Rd., Newton
PRICE/TYPE: $3,049,018 (RES)
MORTGAGE: $950,000 from Sovereign Bank
NOTES: Single-family Ranch, built 1950;
house size is 4,600 sf, lot size is 31,900 sf; six
bedrooms, four baths and two half-baths; last
sold for $1,300,000 in Dec. 2007; Declaration
of Homestead
River Bank has provided $1,254,878 in financing to facilitate the purchase of 10 Shandel Cir. in Andover for
$1,568,598 by Cristina and Jose R. Suarez. The seller of the 5,900-sf, four-bedroom home is Yvon Cormier,
trustee of CA Investment TR.
BUYER: Salem North End LLC
SELLER: 158 Salem Street LLC
ADDRESS: 158 Salem St., Boston
PRICE/TYPE: $2,050,000 (MXD)
MORTGAGE: $1,500,000 from Sovereign
Bank
NOTES: Residential/commercial building; property last sold for $1,875,000 in Sept. 2008
BUYER: Town of North Andover
SELLER: Marjorie Kittredge
ADDRESS: Lacy Street, North Andover
PRICE/TYPE: $1,900,000 (LAND)
NOTES: Six parcels containing 42-plus acres;
seller’s ownership dates to May 1961
MORTGAGE: $1,500,000 from ING Bank
FSB
ADDRESS: 215 Warren St., Lot D, Brookline
BORROWER: Alexander L. and Anne N.
Thorndike, trustees of Old Green Hill Nom TR
BUYER: Daniel J. and Teresa E. Raizen
SELLER: John R. Kennedy
ADDRESS: 14 Lancaster St., U-14, Cambridge
PRICE/TYPE: $1,435,000 (RES CONDO)
NOTES: Unit in Avon Hill Place Condominium;
unit size is 2,675 sf; three bedrooms and 3.5
baths; last sold for $1,400,000 in Aug. 2006;
Declaration of Homestead
MORTGAGE: $1,248,000 from Metro
Credit Union
ADDRESS: 12 Shuman Rd., Marblehead
BORROWER: Joanne B. Orenberg
MORTGAGE: $1,141,000 from Boston
Private Bank & Trust Co.
ADDRESS: 60 Hyslop Rd., Brookline
BORROWER: Emeshe J. Mininberg and Julien
R. Mininberg
BUYER: Jason R. and Kimberly P. Spiegel
SELLER: Carol A. and Frank Citrone
ADDRESS: 15 Whipoorwill Dr., Lot 14,
Westwood
PRICE/TYPE: $1,050,000 (RES)
MORTGAGE: $417,000 from NE Moves
Mortgage LLC
NOTES: Single-family Colonial, built 1998;
house size is 3,675 sf, lot size is 35,100 sf;
four bedrooms and 3.5 baths; last sold for
$553,559 in Nov. 1998
BUYER: Windrush Farm Therapeutic
Equitation Inc.
SELLER: Marjorie V. Kittredge
ADDRESS: Lacy Street, North Andover
PRICE/TYPE: $1,000,000 (LAND)
NOTES: Parcel contains 23.9 acres
ADVERTISING INFO: [email protected]
THE REAL REPORTER
8
January 14, 2010
Massachusetts Corporations
Organized December 29, 2009 -January 4, 2010
Corporation
Directors/Registered Agents
Address
Nature of Business
Marino Family Realty 1, LLC
James S. Marino, manager;
Gerard M. Marino, resident agent
James@ 28 Sentry Hill Rd., York ME 03909; Gerard c/o
Marino and Marino PC@ 23 Shore Rd., Winchester MA 01890
Hold and manage real property
Marino Family Realty 2, LLC
James S. Marino, manager;
Gerard M. Marino, resident agent
James@ 28 Sentry Hill Rd., York ME 03909; Gerard c/o
Marino and Marino PC@ 23 Shore Rd., Winchester MA 01890
Hold and manage real property
Acquisitions Unlimited Inc.
Larry E. Whipple, president, treasurer and secretary
400 Newport Ave., Attleboro MA 02703
Investments, including real property
Freedom Realty Partnership LLP
John D. Pane and Patricia A. Pane, general partners
Principal office@ 47-49 Broadway, Arlington MA 02474
Ownership, leasing, operation and eventual
disposition of real estate
Sandcastle Homes LLC
Paul Robert Townsend, manager
600 Plain St., Marshfield MA 02050
Residential development and home additions
Harbour Point Holdings LLC
Francis O. Mulligan, manager;
Kevin G. Mcintyre, resident agent
Mulligan@ 815 East 5th St. South Boston MA 02127;
Mcintyre@ 14 Center St., North Easton MA 02356
Deal with real estate interests
Norfolk Real Estate Holdings LLC
Eric J. Gilliland, manager
18 Lorraine Ter., Marblehead MA 01945
Buy, develop, lease, manage and sell real estate
FAC II Manager LLC
Anthony A. Nickas and Christopher W. Collins, managers
Pilot House, Lewis Wharf, Boston MA 02110
Deal with real estate interests
MRC Design Corp.
Michael R. Ciccone, president, treasurer and secretary
155 Hemlock Dr., Lunenberg MA 01462
Engineering services
Cosmopolitan Real Estate Inc.
Kelly Anne Catallo, president, treasurer and secretary
15 Century St., Medford MA 02155
Real estate
Island Land Co.
Douglas and Karen Storrs, managers;
Christopher C. Cassara, resident agent
95 Alumni Ave., Providence RI 02906
Real estate
Bean Properties LLC
Edison Yee, manager
100 Caddyshack Dr., Chicopee MA 01020
Hold real estate
Prinmit-2 LLC
Anthony J. Simboli, manager;
Edward J. Bartlett Jr., resident agent
Simboli@ 80 Everett Ave., Chelsea MA 02150; Bartlett c/o
Bartlett Hackett Feinberg PC@ 155 Federal St., 9th floor, Boston MA
Deal with real property
Prinmit-1 LLC
Anthony J. Simboli, manager;
Edward J. Bartlett Jr., resident agent
Simboli@ 80 Everett Ave., Chelsea MA 02150; Bartlett c/o
Bartlett Hackett Feinberg PC@ 155 Federal St., 9th floor, Boston MA
Deal with real property
Gigips LLC
Patricia Simboli, manager;
Edward J. Bartlett Jr., resident agent
Simboli@ 80 Everett Ave., Chelsea MA 02150; Bartlett c/o
Bartlett Hackett Feinberg PC@ 155 Federal St., 9th floor, Boston MA
Deal with real property
Sullivan Webster LLC
Michael Sullivan, manager;
Edward J. Bartlett Jr., resident agent
Sullivan@ 90 Sutton St., #2B, North Andover MA 01845; Bartlett c/o
Bartlett Hackett Feinberg PC@ 155 Federal St., 9th floor, Boston MA
Deal with real property
Tribeca Builders Corp.
Christos N. Stasinos, president and treasurer;
Amanda Cook, secretary; Earl W. Duval, registered agent
Stasinos@ 217A Fordham St., Bronx NY 10464;
Duval@ 10 Cedar St., Ste. 17, Woburn MA 01801
Construction management for commercial
real estate
GMU Holdings LLC
Allison Berman and Colon Terrell, managers
Berman@ 152 W57th St., NYC 10019;
Terrell@ 4700 Fals of Neuse Rd., Ste. 190, Raleigh NC 27609
Own real estate
T3 Realty LLC
Bruce Thomas, John-Paul Thomas and
Peter Thomas, managers
98 County St., Taunton MA 02780
Deal with real estate
Merc Realty of Plymouth LLC
Richard A. Manfredi, manager;
Robert C. Betters Esq., signatory
Manfredi@ 10 Knapp Ter., Plymouth MA 02360;
Betters@ 15 Caswell Ln., Plymouth MA 02360
Buy, develop, finance, lease, manage and
sell real estate
112 GM Road LLC
Karen C. Watkins, manager;
Deborah DiVerdi Carlson, resident agent
Watkins@ 525 Okeechobee Blvd., Ste. 1000, West Palm Beach Fl 33401; Deal with real estate
DiVerdi Carlson@ 800 Boylston St., Boston MA 02199
Boston Estates LLC
Alex Lirette, manager
33 Granite St., #2, Cambridge MA 02139
Real estate rental, sales and property management
WGRR LLC
Penelope Joyce Greene and Jay Andrew Winsten, managers
756 Hammon St., Chestnut Hill MA 02467
Deal with real estate
23 Winthrop Ave. LLC
Timothy Hathaway, Adam Hayes and David Larkin, managers; Principal office@ 90 First St., Bridgewater MA 02324;
Robert P. Dolbec Jr., resident agent
Dolbec@ 115 Billings Rd., Quincy MA 02171
Engage in real estate financing, leasing,
management and purchasing
1060 Belmont Inc.
Robert Flack, president; Michael Sherman, treasurer;
Alex Liazos, clerk
63 Mt. Auburn St., Watertown MA 02472
Affordable housing and support services
Mass Property Holdings LLC
Michael J. Kmito and Todd A. Sandler, managers
Kmito@ 66 Jay's Ln., Hanover MA 02339;
Sandler@ 66 Manomet Ave., Hull MA 02045
Construction, development and ownership of
commercial and residential property
Weston Property Management LLC
Brian Williams, manager
26 Autumn St., Sudbury MA 01776
Property management
A1A Capital Corp.
Peter M. Dunlap, president;
Cheryl L. Dunlap, treasurer and secretary
232 Cushing St., Hingham MA 02043
Real estate holding company
I-Mari Holdings LLC
David Bourque and Christopher E. Howard, managers;
Bruce I. Miller, resident agent
Principal office@ 1 Monument Sq., Portland ME 04101;
Miller@ 160 Federal St., Boston MA 02110
Holding company
Roddy Road LLC
David Bourque, Christopher E. Howard and
Eric Yeghian, managers; Bruce I. Miller, resident agent
844 Highland Ave., Needham MA 02494
Real estate
I. Fred Dicenso Trust LLC
Rossana F. Dicenso and Arthur W. Kanavos, managers
65 Industrial Way, Wilmington MA 01887
Buy, hold, lease, manage and sell real estate
42 Industrial Way LLC
Rossana F. Dicenso and Arthur W. Kanavos, managers
65 Industrial Way, Wilmington MA 01887
Buy, hold, lease, manage and sell real estate
80 Industrial Way LLC
Rossana F. Dicenso and Arthur W. Kanavos, managers
65 Industrial Way, Wilmington MA 01887
Buy, hold, lease, manage and sell real estate
1136 Hancock Street LLC
Rossana F. Dicenso and Arthur W. Kanavos, managers
65 Industrial Way, Wilmington MA 01887
Buy, hold, lease, manage and sell real estate
65 Industrial Way LLC
Rossana F. Dicenso and Arthur W. Kanavos, managers
65 Industrial Way, Wilmington MA 01887
Buy, hold, lease, manage and sell real estate
continued on page 9
THE REAL REPORTER
January 14, 2010
9
Massachusetts Corporations
Organized December 29, 2009 -January 4, 2010
Corporation
Directors/Registered Agents
Address
Nature of Business
One Progress Way LLC
Rossana F. Dicenso and Arthur W. Kanavos, managers
65 Industrial Way, Wilmington MA 01887
Buy, hold, lease, manage and sell real estate
21 Industrial Way LLC
Rossana F. Dicenso and Arthur W. Kanavos, managers
65 Industrial Way, Wilmington MA 01887
Buy, hold, lease, manage and sell real estate
CT Holders LLC
Robert Fishman, manager; Scott E. Skolnick, resident agent
Fishman@ 62 La Salle Rd., #219, West Hartford CT 06107;
Skolnick@ 850 Springfield St., Ste. 4, Feeding Hills MA 01309
Lend money secured by mortgages on
real estate and invest in real estate
PEC Group LLC
David J. Perrotta, president, treasurer and secretary
6A Acton St., Lowell MA 01852
Engineering services
52 Dunboy Street LLC
Enio and Pompeo Casale and Loredana Williams, managers
Principal office@ 39 Bayberry Ln., Holliston MA 01746
Real estate
Stinson and Company LLC
Douglas W. Stinson, president, treasurer and secretary
191 Concord Rd., Lincoln MA 01773
Auction and appraisal services
Ardea LLC
Daniel J. Sullivan, manager
141 Forest St., Wellesley MA 02481
Deal with real estate
1618 Properties LLC
John J. Donovan Jr., manager
8 Atwater Ave., Manchester MA 01944
Real estate
1892 Investments DNDC LLC
Stephanie Maiona and Charlest M. Steele, managers
844 Highland Ave., Needham MA 02494
Real estate
Johnson Real Estate Investors LLC
Fred Anthony, Harold Grinspoon, John Mnich and
C/o JREI LLC@ 380 Union St., Ste. 300, West Springfield MA 01089 Real estate
Jeremy Pava, managers; Richard M. Gaberman, signatory
165 Pleasant Street LLC
Richard P. Rockett, manager
190 Pleasant St., Marblehead MA 01945
Acquire, hold, mortgage and transfer real estate
CL Waterfront Properties LLC
Carmella Laurella, manager
28 Atlantic Ave., Ste. 228, Boston MA 02110
Buy, develop, hold, lease, manage and
sell real property
Real estate
Long Family LLC
Bryan Long and Heather Marino, managers
953 Main St., Wakefield MA 01880
Bromfield Holdings LLC
Paul J. Adamson, Mark A. Cummins and
David H. Drohan, managers
Adamson@ 17 Landgrane St., Squantum MA 02171; Cummins@
Deal with real property
10 Buker Corner Ln., Braintree MA; Drohan@ 175 Derby St., Hingham MA
25 Normandy Road LLC
Catherine Coughlin and Thomas Cummings, managers
Coughlin@ 13 Maine Ave., Natick MA 01760;
Cummings@ 5 Island Rd., Salem NH 03079v
Manage, own and rent out real estate
50 Sunset Road LLC
Catherine Coughlin and Thomas Cummings, managers
Coughlin@ 13 Maine Ave., Natick MA 01760;
Cummings@ 5 Island Rd., Salem NH 03079
Manage, own and rent out real estate
Solutioneers Investment Group LLC
Tabitha Baskin and Princessa A. Clendinen, managers
Baskin@ 925 North Main St., Brockton MA 02301;
Clendinen@ 137 Warwick Rd., West Newton MA 02465
Real estate services
TM & CM Properties LLC
Michael Martin and Nancy Martin, managers
992 Madison St., Fall River MA 02720
Deal with real property
Funchal Realty LLC
Robert S. Yabroudy, manager;
Stephen D. Paulin Sr., resident agent
Yabroudy@ 8 Ann and Hope Way, Cumberland RI 02864;
Paulin@ 4 Snowy Owl Ln., Worcester MA 01605
Acquire and convey real property
Reviresco Realty LLC
Cameron Macewen, manager
Principal office@ 21 Market St., Foxborough MA 02035;
Macewen@ 443 Franklin St., Wrentham MA 02093
Rental real estate
Mobile Storage Group Inc.
Steven Bunger, president; Deborah Keeley, treasurer;
Christopher Miner, secretary
7420 S. Kyrene Rd., #101, Tempe AZ 85283
Sales and leasing of portable storage
containers and offices
Bog Cranberry LLC
Jon F. Ridder, manager
One Castle Pl., Whitman MA 02382
Operate and maintain cranberry bogs
Silk Fields LLC
James and Kimberly Goldinger, managers
7 Farm Rd., Lexington MA 02420
Deal with real property
Penguin ICF LLC
Marc Jan Caluwe, Francis Joseph Glavin and
Sam Galahad Glavin, managers
269 Middlesex Rd., Tyngsborough MA 01879
Installation and distribution of insulated
concrete forms
Sanford Family Series LLC
Catherine A. Sanford and Robert T. Sanford, managers
5 Brook Ln., Berlin MA 01503
Real estate for investment
RJRR LLC
Jon, Ralph and Ronald Campanelli, managers
One Campanelli Dr., Braintree MA 02184
Acquire, hold, improve, finance, maintain and
sell real estate
Hemlock Construction Co. Inc.
Timothy Traub, president and treasurer; Barbara Traub,
secretary; Judi Belanger and Richard Traub, directors
922 New Harwinton Rd., Torrington CT 06790
Heavy construction
JDC LLC
Diane R. Connors and James I. Connors, managers
31 Stoneybrook Cir., Andover MA 01810
Real estate
15 Linscott LLC
Guy and Rino Agri and Carla Talambekos, managers
15 Linscott Rd., Woburn MA 01801
Rental of real estate
Maggio Family LLC
Joseph P. Maggio, manager
74 Undermountain Rd., South Egremont MA 01258
Real estate
Lesa LLC
David J. and Roland Lemieux, managers
David@ 59 Lothrop St., Beverly MA 01915;
Roland@ 105 Boston St., Middleton MA 01949
Dealing with interests in real estate
MWM Properties LLC
Mark Mscisz and Steven Mscisz and
Brian Woodland, managers
58 Main St., Topsfield MA 01983
Acquire, finance, lease, manage and
sell real estate
Appraisal Solutions LLC
Susan Kelly, signatory; Maryellen Maggicomo,
registered agent
Principal office@ 17 Wingate Rd., Lincoln RI;
Maggicomo@ 23 Abbott Rd., Wellesley MA 02481
Topo-Formisio Inc.
Frank V. Formisano, president, treasurer and secretary
41 Harrison Ave., Taunton MA 02780
Acquire real estate to support retail
food service business
Christian Community Development Corp.
Sharon Porter, president; Nerisssca Clarke, treasurer;
Vernard Coulter, clerkVernard Coulter, clerk
Principal office@ 422 Adams St., Dorchester MA 02125
Non-profit assisting disavantaged, including
acquisition, development and renovation of
affordable housing
Residential appraisals
continued on page 10
THE REAL REPORTER
10
January 14, 2010
Massachusetts Corporations
Organized December 29, 2009 -January 4, 2010
Corporation
Directors/Registered Agents
Address
Nature of Business
15/15A Cotting Street LLC
Jennifer L. Donaghey and Jason L. Gracilieri, managers
Donaghey at 61 Vine St., Reading MA 01867;
Gracilieri at 9 Burnside Ave., Somerville MA 02144
Investment in and management of real estate
R.E. Murray Realty Trust LLC
Carole A. and Robert E. Murray, managers
339 Pakachoag St., Auburn MA 01501
Real estate
KGI Holdings LLC
Barry Lee Kallander, managers
282 Central St., Hudson MA 01749
Hold and manage real property
Rossiter Road LLC
Joel M. Leander, manager, Virginia S. Smith, resident agent 116 Lowes Food Dr., #200, Lewisville NC 27023; Smith c/o
Grinnell Smith LLP@ 75 North St., Ste. 400, Pittsfield MA 01201
Real estate
Sutton Douglas Development LLC
John R. Cahaly, manager
Principal office@ 3 DJ Murphy Ln., Hopkinton MA 01748
Development and operation of real estate
100 Center Street LLC
Patrick J. and Robert Weidman, managers
79 Grove St., Franklin MA 02038
Acquiring, developing, renting out and
selling real property
OM South Yarmouth LLC
Elizabeth Daane, manager
1717 Main St., Dallas TX 75201
Hold a commercial property in Massachusetts
11 Robbie Road LLC
Theodore E. Parker III, manager
21 Parker Dr., Avon MA 02322
Deal with real property
Ellmar Capital LLC
Robert L. Marcus, manager
345 Boylston St., Newton MA 02459
Real estate
KT Robinson Realty LLC
Kevin M. Robinson and Mary P. Robinson, managers
23 Plymouth Ave., Oak Bluffs MA 02557
General real estate purposes
Chelsea Company LLC
John D. Sullivan, manager
21 Alden Rd., Wellesley MA 02481
Real estate
Marblehead International Associates Inc.
Heidi-Lynn Mitchell, president, treasurer and secretary
9 Fisher St., Westborough MA 01581
Business management services and dealing with
real estate to accomplish those purposes
272-286 Herman Melville Blvd. LLC
Christopher C. Cassara and Robert C. Cook, manager
Cassara@ 128 Union St., Ste. 500, New Bedford MA 02740;
Cook@ 272-286 Herman Melville Blvd., New Bedford MA 02740
Deal in real property
Athena Star Realty Inc.
Chrysantos Apostle, president, treasurer and secretary
32 Sheldon St., Lowell MA 018151
Real estate
16 Pleasant LLC
Nicholas H. Thisse, manager;
George M. Ruboy, resident agent
Thisse@ 80 Access Rd., Norwood MA 02062;
Ruboy@ 19 Dorset St., Norwood MA 02062
Ownership of real estate
8 Butler LLC
Nicholas H. Thisse, manager;
George M. Ruboy, resident agent
Thisse@ 80 Access Rd., Norwood MA 02062;
Ruboy@ 19 Dorset St., Norwood MA 02062
Westech Properties LLC
Robert J. Fragala, manager; Jose Kostas, signatory
Robert J. Fragala@ 54 Tyngsboro Road, Westford MA 01886
BRAC Properties LLC
Robert B. Fragala, manager
3 Summit Ave., Chelmsford MA 01824; Jose Kostas@ 781-329-7680 Investment, management and ownership of
real estate
Barber&Keville Limited Partnership
Malcolm C. Barber and Davey Keville, managers;
Geraldine Barber, resident agent
Principal office@ 29 Carrolls Ln., Quincy MA 02169
Purchase real estate and develop to sell
28-36 Lincoln LLC
George M. Ruboy, manager
19 Dorset St., Norwood MA 02062
Ownership of real estate
CBA Landscape Architects LLC
Denis Chagnon and Clara Couric Batchelor, managers
212 Elm St., Somerville MA 02144
Commercial and residential landscape
architecture
Ownership of real estate
Investment, management and ownership
of real estate
Danvers Riverview LLC
Daniel A. and Susan T. Martignetti, managers
47 Swan Rd., Winchester MA 01890
Real estate development
Valleywood Real Estate Development LLC
Michael Fahn and Chris Mershon, managers
Fahn@ 35 Valleywood Dr., Hopkinton MA 01748;
Mershon@ 187 E. Warm Springs Rd., Ste. B, Las Vegas NV 89119
Refurbish and sell real estate
Ocelot Operations LLC
Dan Botwink, manager
20 Washington Ave., #1, Waltham MA 02453
Development, investment and operation of
real estate
Emergent Property Management Partners LLC Howard Rich and Marshall Stocker, managers
Rich@ 1420 Walnut St., Ste. 1011, Philadelphia PA 19102;
Stocker c/o Buck House @741 Broadway, Hanover MA 02339
Engage in real estate investment and services
Highpoint Engineering Inc.
Douglas J. Hartnett, president and treasurer;
Michael J. Fabbiano, secretary
23 George Rd., Franklin MA 02038
Civil engineering and consulting
Finbar LLC
Michael A. Fitzgerald, manager
12 Widows Cove Ln., Wareham MA 02571
Deal in real property
Prime Choice Real Estate Inc.
Marcos E. Doliver, president, treasurer and secretary
121 Mystic Ave., 2nd floor, Medford MA 02155
Real estate brokerage and property
management
Dongary Realty LLC
Sonja Maria Marcheselli, manager
934R Washington St., South Easton MA 02375
Buy, develop, hold, lease, manage and
sell real property
R. Miller & Associates LLC
Richard R. Miller, manager
60 Walnut St., Ste. 101, Wellesley MA 02481
Financial services, including mortgages
3200 Broadway Inc.
David N. Hubbard, president, treasurer and secretary
39 Dodd Rd., Sandisfield MA 01255
Real estate
4 Nabby Rd. Inc.
David N. Hubbard, president;
Patricia Hubbard, treasurer and secretary
39 Dodd Rd., Sandisfield MA 01255
Real estate
Main Street Realty and Management LLC
Stephen Yellin, manager
15 Brook St., Medfield MA 02052
Real estate development and management
Cambridge Parkway LLC
Elias Samaras, manager;
Alexandra Papageorgiou, resident agent
Samaras@ Perseos 8 and Andromedas, Psychico 15452 GRC;
Papageorgiou@ 75-83 Cambridge Pkwy., Cambridge MA 02124
Real estate
Rockville Bank Mortgage Inc.
William W. McGurk, president; John T. Lund, treasurer;
Judy L. Keppner, secretary
25 Park St., Rockville CT 06066
FEEDBACK TO: [email protected]
Organization and sale of mortgages as a first
mortgage correspondent lender
January 14, 2010
Linde’s Legacy
continued from page 1
Acquisition and repositioning of
Boston’s Prudential Center and stylish
Long Wharf Marriott are among the REIT’s
local contributions, and Linde’s support is
credited for strengthening both the
Boston Symphony Orchestra and Museum
of Fine Arts. But it is across the river in
Cambridge where the Weston resident’s
greatest impact can be felt, having pioneered the transformation of an industrial
wasteland into the booming Kendall
Square mixed-use district that now counts
a global Who’s Who of technology and life
sciences companies in its midst, among
them Novartis Pharmaceuticals, Microsoft
and Google.
“It’s an amazing success story,” concurs
Cambridge Redevelopment Authority
Executive Director Joseph F. Tulimieri,
whose agency took a chance on the fledgling Linde/Zuckerman partnership in 1978
when Boston Properties was designated to
do the first new building there, 5
Cambridge Center. Boston Properties has
delivered 11 buildings and 2.7 million sf
there overall, including a mix of hotel,
office, parking and retail space that has
sparked more than 15 million sf of commercial product fanning out from the
inaugural 24-acre Cambridge Center site.
The emergence of Kendall Square
involved legions of contributors, but to
Tulimieri, no one has been more instrumental than Linde himself, a graduate of
the Massachusetts Institute of Technology
and innate real estate professional who
understood the area’s vast potential and,
with Zuckerman, had the courage to see
their plan through despite the numerous
risks. “Clearly, Ed gave the guidance and
direction necessary to shepherd it
through,” says Tulimieri, further lauding
him as “a man of honor” who followed up
on his and the company’s promises. “If you
got a handshake, you know it would be
done,” says Tulimieri.
According to the CRA chief and others,
however, Linde’s assets can be counted
well beyond his brick-and-mortar acumen
and stand-up persona. “Ed is one of my
favorite people ever,” says Tulimieri,
terming him “an absolutely classy gentleman” respectful of all and respected by
same in return.
That sentiment has been shared widely
THE REAL REPORTER
in the public tributes
to Linde that have
included
Mayor
Thomas
Menino.
Others
similarly
touched
include
Richards Barry Joyce
& Partners President
Robert B. Richards Jr.
“I feel very fortunate
to have done work
with him,” says
Richards, a veteran
Cambridge broker
who describes Linde
as “an icon” of the
New England real
estate scene. “It’s a
sad day,” Richards
says of Linde’s death
at age 68 following a
long battle with cancer. “Ed was a real
visionary who was
able to develop
Boston Properties
into the premier company that it is today,
and that certainly
shows when you look
at what he did in
Kendall Square.”
CBT Architects
principal Richard E. Bertman says Linde
was “a pleasure” as his client, having
struck a close association with the CEO
while designing the 111 Huntington Ave.
office tower that was developed on spec
by Boston Properties after the REIT
acquired the Prudential Center and
undertook a massive overhaul. “A really
nice person,” Bertman says in describing
Linde, adding he was able to deftly delegate responsibility. “Ed was a very smart
and supportive man who was sensitive to
the design process,” says Bertman. In that
way, “he gave you the freedom to do
things as long as they made sense.”
Tulimieri says the CRA is now mulling
over ways to celebrate Linde’s dedication
to Kendall Square, adding the agency
hopes to work with Boston Properties to
“appropriately memorialize” his contributions to the district. Calls to Boston
Properties to discuss how that might be
accomplished were not returned by press
deadline, but Tulimieri says he is hopeful
such a tribute will be pursued. Linde
11
“deserves all of the kudos he can get,” says
Tulimieri.
In the meantime, Boston Properties
has begun marketing a vacant Kendall
Square parcel near Cambridge Center that
it purchased in late 2009, paying the CRA
$5.9 million for the site that Biogen had
held an option on until recently. Still in its
infancy, the site could deliver upwards of
175,000 sf, Tulimieri estimates, with
office, laboratory and retail among the
possibilities. “They are just starting to
shop it now,” says Tulimieri, possibly
extending Linde’s legacy by one more
structure.
n
The Real Reporter
VOLUME 1, NUMBER 46
© 2010 The Real Reporter, Ten Post Office
Square, Boston MA 02109, 617-692-2997.
All rights reserved. No part of this publication may be reproduced without the written
consent of the publisher. The Real Reporter is
a trademark of Launch Pad Boston.
THE REAL REPORTER
12
January 14, 2010
Crown Colony
continued from page 2
sionals who know how to get things done,”
says Elcock. “And they bought so smartly,
I do think they will be able to beat the
market.” The best space in the Route 128
South office submarket is in the low- to
mid-$20’s per sf, he estimates, and Elcock
says Campanelli and the leasing team “are
rolling up our sleeves” to land commitments at 300 Crown
Colony Dr. Companies
needing up to 15,000 sf
can be accommodated
immediately,
while
requirements
under
2,000 sf will be recruited as well.
David Goodhue
Originally unveiled
in last week’s Real
Reporter, the purchase
of 300 Crown Colony
Dr. “was an excellent
acquisition, and we
have high expectations
for
its
future,”
Campanelli
Cos.
Caleb Hudak
Director of Leasing
Peter Brown says in a release announcing
CM&G’s appointment. One benefit, notes
Elcock, is Campanelli’s familiarity of the
South Shore office market, with its
Braintree headquarters only a few miles
away from the new investment.
That insider outlook might have given
Campanelli the confidence to price 300
Crown Colony appropriately against a
bevy of suitors, and company officials
cited the location in Quincy’s masterplanned Crown Colony Park as another
reason for confidence despite a difficult
2009 for landlords. Elcock agrees, tabbing
Crown Colony as “the finest office park in
the South Shore,” its Residence Inn giving
a “24-hour” environment further supported by a range of amenities. “Everything is
right here,” Elcock observes, further
praising a new ramp that has eased access
to the abutting confluence of Routes 3 and
Interstate 93/Route 128. “What a difference,” he marvels.
Although there was some erosion of
fundamentals, Elcock says Route 128
South continues to be a “steady” performer, using a proximity to downtown
300 Crown Colony Dr., Quincy MA
Boston and other attractions to avoid the
wild swings seen in other submarkets. “It
has held up very nicely,” he says.
According to year-end results from
CM&G’s market survey, suburban Boston
posted 2.7 million sf of negative net
absorption last year, while the 13.8-mil-
lion-sf Route 128 South belt used a strong
fourth quarter to finish the year at minus89,000 sf in net absorption, the third best
outcome of nine submarkets in the survey
The vacancy rate there is now at 17.9 percent, better than the overall market avern
age of 21.1 percent.
Lafayette Rd.
continued from page 3
is another lure across the street. “It’s pretty busy, even in the winter,” says Skaff.
Average daily traffic count of 24,000 vehicles balloons in the summer, with the strip
close to Hampton and Salisbury beaches.
Another potential benefit could come
from the city of Portsmouth’s vision of
Jean Kane
improving Route One through its ambi- Jody Skaff
tious “gateway” campaign. “It’s exciting to interest to her client, relays Lisa Kane,
see,” says Skaff, who says the efforts by explaining the space search did consider
Simply Green are being warmly embraced multiple locations in the region. “Finally,
by the administration as supportive of the this one made the most sense for them,”
larger strategy. Conversely, environmental she says as the various benefits outelements of the gateway program were of weighed other prospects.
n
FEEDBACK TO: [email protected]
THE REAL REPORTER
February 21, 2009
13
Cambridge
continued from page 1
by ITA Software at 141 Portland St.
In its winter bioSTATus life sciences
review, RBJ terms East Cambridge’s laboratory inventory “the most landlord-favoring
submarket and property type in Greater
Boston” and among the tightest of any sector nationally. The district “stands out as
the world’s preeminent cluster for cutting
edge technology and life science research
and development,” says
Purpura, who calls
Cambridge “without a
doubt the most stable
submarket” of any in
metropolitan Boston.
RBJ estimates asking rents for newly conSteven Purpura
structed lab space in
Cambridge near $65 per
sf NNN, a level consistent for the past six
quarters. Construction
in the pipeline is limited
to 650 East Kendall St.
Beyond that 278,000-sf
building, mostly availRobert B. Richards Jr. able as it gets delivered
to the market, there is
no new lab space coming on line through at
least 2013. The direct
vacancy rate is 11.3 percent, and RBJ says sublease lab space has
dried to a trickle after
Greg Lucas
steady interest chewed
up the best sites.
For RBJ, the largest Cambridge lease
of 2009 was a 292,000-sf renewal by
Vertex Pharmaceuticals at 40 Erie St. and
200 Sidney St. in the mid-Cambridge submarket, properties owned by BioMed
Realty Trust. RBJ was agent for the landlord, while CB Richard Ellis/New England
principal Greg Lucas represented Vertex.
BioMed was also RBJ’s client in a commitment for nearly 80,000 sf at 301 Binney St.
Kendall Square, Cambridge MA
by the Broad Institute, again with Lucas
acting for the tenant. RBJ advised Equity
Office Properties when the Forsyth
Institute secured 73,300 sf of lab space at
245 First St. The tenant, which is relocating from Boston, was assisted by Mark
Winters of Cushman & Wakefield.
As in the case of Vertex, which is taking over 145,000 sf in mid-Cambridge previously occupied by suburb-bound
Alkermes, some of the activity in 2009
plugged gaps left behind by companies
departing or downsizing. Alnylam
Pharmaceuticals took over space once
leased by rival Archemix at 300 Third St.,
expanding by 33,000 sf to 95,400 sf. RBJ
advised the tenant, whereas landlord
Alexandria Real Estate Equities was selfrepresented. That property is also in East
n
Cambridge.
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THE REAL REPORTER
January 14, 2010
Photo: Derek Szabo
14
Unleashed
continued from page 1
for 226 Harvard Ave. Constructed on spec
by a New York developer, the 30,000-sf
property last summer landed Urban
Outfitters for the first and second floors.
The Unleashed commitment will bring a
fresh ingredient to the area’s shopping
menu, Weissman notes, and puts the
retail portion of 226 Harvard Ave. at nearly 100 percent occupancy, with a 1,900-sf
unit the only piece
remaining.
Weissman reports
encouraging interest in
the final piece, and is
also showing prospects
Jason Weissman
the third-floor office
space that can accommodate users needing upwards of 11,000 sf. Atlantic Retail
Properties represented Petco in the
Unleashed negotiations, an assignment
handled by Adam Cirel and Brian
McDonald. Cirel declined comment on
specifics of the Allston transaction, but
seconds Weissman’s praise of the site as a
solid retail destination.
“It’s easily accessible and the number
of rooftops is significant,” says Cirel. Other
pluses include proximity to the MBTA Green
Line a few blocks west
at the teeming intersection of Harvard and
Commonwealth
Brian McDonald
Avenues, while in the
other direction, affluent Brookline is mere
steps away. TJ Maxx and Staples are close
abutters of 226 Harvard Ave.
“Density” of the residential base is a key
element of Petco’s checklist for Unleashed
locations, explains Cirel, and AllstonBrighton is among the most thickly populated areas of New England. The smaller
size of 4,000 to 6,000 sf enables Petco to
pursue infill locations for Unleashed stores
compared to the traditional footprint that
is closer to 13,000 sf. Only now evolving
eastward, Unleashed stores could be opening in other New England markets soon,
says Cirel, but would not offer specifics.
The shop does not sell pets themselves,
allowing for the trimmed-down size.
Unleashed could be in its new Allston
quarters by the spring following tenant fit
out, says Weissman. BRA has been
involved in the 226 Harvard Ave. project
since the outset, helping in site acquisition, permitting and
design selection. The
architect was Cubellis
and
Metric
Construction
of
Brighton was contractor
for 226 Harvard Ave.
Urban retail is a specialAdam Cirel
ty of BRA, which represents properties throughout Greater
Boston, including stores on Newbury
Street and space at the new ADD Inc.
headquarters on Summer Street in Fort
n
Point Channel.
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THE REAL REPORTER
January 14, 2010
15
300 Jubilee Dr., Peabody MA
THE REAL REPORTER
continued from page 1
site visits, and she says the opportunity to
reunite on a new venture with him was too
appealing to eschew. “All the stars were
aligned,” she says. “It makes sense for a lot
of reasons.”
For one thing, Loeber’s arrival fits into
the firm’s game plan to expand its investment horizons to include multifamily and
retail, explains Griffith, who along with
principal Tod Brainard have focused the
firm on flex and office properties since the
company’s outset. That has led to major
acquisitions in Quincy, Wilmington and the
Burlington Woods Office Park that
now serves as company headquarters.
Multifamily and retail are two areas
Loeber has developed expertise in, making her a good addition to the in-house talent, relays Griffith.
“We think there are going to be a lot of
opportunities in the market, so we are
going to keep our eyes open for those,”
says Griffith, adding, “We’re all very
excited about having her here.” As in the
past, Griffith Properties will concentrate
on the Boston to Washington, D.C. corridor for prospects., largely targeting
value-added opportunities but willing to
consider core deals in certain instances.
The bid/ask gap and seller intransigence
could make the going slow for awhile, but
Griffith says he hopes to see the stalemate ease later in the year. “You’ve got to
be in the marketplace ready to buy,” he
says.
Loeber stresses that her tenure at
Cushman & Wakefield was invaluable and
leaving is indeed “bittersweet,” but
explains the transition is something she
has been pondering for a while. “It’s hard
to leave, but it’s also exciting,” she says.
“It’s a great match.”
Having helped Griffin and Maher trade
billions of dollars of real estate during
their time together, Griffith’s move does
leave a void, but she is quick to predict the
C&W Capital Market Group will remain
the industry leader, with Simon J. Butler
and Biria St. John overseeing a multifamily sales team that traded close to $400
million of real estate in 2009. Meanwhile,
Geoffrey Millerd is heading up the firm’s
active retail sales group. “They have a
really deep bench,” Loeber says. “They
will do really well.” C&W officials were
unavailable by press deadline to discuss
Loeber’s pending exit.
Jubilation
PEABODY — A slick 164,000-sf
office/warehouse building on Boston’s
North Shore has a new owner in
Brookwood Real Estate Partners II
LLC following the entity’s $8 million purchase
from
Boston
Acoustics Inc. “It’s an
excellent
building,”
Klemmer Associates
principal
Gregory
Klemmer says of 300
Jubilee Dr. after his
Gregory Klemmer
Winchester real estate
services firm negotiated the agreement
between the two parties.
As part of the agreement, Boston
Acoustics committed to lease space in
the building for a minimum of two years.
An affiliate of Brookwood Financial
Partners, the new ownership struck a
two-year leasing pact with another tenant, Christian Book Distributors
LLC. Brookwood principals are Eve and
Thomas Trkla, whose firm also owns
Cherry Hill Park in Beverly and
n
Danvers.
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