"We searched for an appropriate space for approximately three years," says Robert Frischman, an executive vice president of EVO. "Large cities are a challenge because there is limited inventory in the size range required for a City Winery installation. When we looked at One Canal Street, we knew the wait had been worth it." Frischman also represented City Winery in finding its New York City and Chicago locations.

"Boston will be a very strong market for us given the sophisticated audiences there; we could not be more excited to have finally found the perfect home," says Michael Dorf, CEO and founder of City Winery.

Evelo Therapeutics Opens New HQ in Cambridge

Evelo Therapeutics, a biotech company pioneering the development of microbiome-based therapies for cancer, officially opened its new 9,000-square-foot headquarters in Cambridge, MA on Dec. 17.

The company emerged from Flagship VentureLabs, a foundry of Flagship Ventures, with an initial capital commitment of $35 million in November 2015. The ribbon-cutting ceremony was held last week in collaboration with the Massachusetts Life Sciences Center and MassBio.

"I congratulate Evelo Therapeutics on their expansion and look forward to their continued contributions to job creation and innovation here in the Commonwealth," says Massachusetts Gov. Charlie Baker.

"We are extremely pleased with our new facility and the opportunity that it affords Evelo during this important growth period," says Dr. Simba Gill, CEO of Evelo. "Cambridge is the undisputed hub of great biotech companies and we are excited to contribute to its legacy of innovative science and transformative medicine." The new headquarters at 620 Memorial Drive features state-of-the-art laboratory space and offices designed to foster collaboration, company officials say.

"We are pleased to celebrate the grand opening of Evelo's new headquarters in Cambridge," says Travis McCready, president & CEO of the Massachusetts Life Sciences Center. "This new facility will allow the company to continue to grow and make important contributions to cancer therapeutics, one of the core strengths of our Commonwealth's life sciences ecosystem."

NAIOP Mass. Names 2016 Executive Committee

Dennis Clark of Cummings Properties has been named president of NAIP Massachusetts and will lead the organization's executive committee.

Joining Clarke on the executive committee are president-elect Douglass Karp of New England Development, secretary Ed Marsteiner of National Development, treasurer Sara Cassidy of JP Morgan Asset Management and vice president of chapter affairs Michael Wilcox of The Bulfinch Companies.

Sheraton Portsmouth Harborside Secures Refi Deal

HFF reports it has arranged a $35.5-million refinancing for the Sheraton Portsmouth Harborside Hotel, a 180-room, full-service hotel in Portsmouth, NH.

HFF's Boston office worked on behalf of the borrower, Lodgesys, to secure the 10-year, fixed-rate loan for the property at 250 Market St. through Bank of America. Loan proceeds were used to refinance existing debt on the property. The securitized loan will also be serviced by HFF.

The six-story hotel also features a two-level underground parking garage, 13,500 square feet of meeting space, a fitness center, indoor pool, sauna, an internet café and Two-Fifty Market, the hotel's restaurant and lounge.

The HFF debt placement team representing the borrower was led by managing director Anthony Cutone.