New York Life Real Estate Investors is a division of NYL Investors LLC, a wholly-owned subsidiary of New York Life Insurance Co.

Leases

Jack's Abby Craft Lagers has nearly doubled its space at 100 Clinton St. in Framingham, MA. Calare Properties and partner Hackman Capital Partners report that the brewery has leased an additional 63,000 square feet of industrial space at the building.

Jack's Abby Craft Lagers signed its first lease at the property for 67,000 square feet in 2014 and houses its growing brewery and Jack's Abbey Hall, a 175-seat, 5,000-square-foot restaurant there. Calare and Hackman Capital were represented by CBRE/New England's team of Bob Gibson, EVP/partner, and Steve Clancy, EVP, partner.

As part of the brewer's expansion, Calare will provide $1.5 million in upgrades to the current warehouse and office space, including a new roof, elevator, windows, façade work and lighting.

NAI Hunneman recently completed a 12,901-square-foot lease transaction with Community Research Initiative at The Schrafft's Center in Charlestown.

The independent, non-profit, community based organization is relocating its operations from 38 Chauncy St. in Downtown Crossing, the brokerage firm reports.

NAI Hunneman EVP Peter Evans and associate Brooke Blue represented CRI in the transaction, while JLL's Molly Heath and John Osten represented the landlord The Flatley Co.

“Despite loving our downtown location we needed to find space that was more cost effective to our bottom line,” says CRI executive director Julie Marston. She adds that the new space in Charlestown met both its immediate and long-term needs, while allowing the organization to remain in close proximity to downtown.

CRI is an independent, nonprofit, community-based organization in New England dedicated to HIV and hepatitis C clinical research, treatment education, and financial assistance for approved HIV drug treatments and health insurance coverage.

Orbis Education, in partnership with Northeastern University's Accelerated Bachelor of Science in Nursing Program signed a long-term, 13,904-square-foot lease expansion at 5 Burlington Woods Drive in Burlington, MA.

Part of Northeastern University's School of Nursing, the ABSN Program is designed for those who already hold a Bachelor's degree in another field and wish to acquire a Bachelor of Science degree in nursing and become a Registered Nurse. Newmark Grubb Knight Frank director Brendan Daly and the brokerage's 128 West team represented the Northeastern University ABSN Program in the transaction, which doubles the amount of space leased by the tenant.

Owned by Capstone Properties, a commercial real estate investment and brokerage firm, 5 Burlington Woods Drive is a 110,000-square-foot, three-story Class A office building that is located next to the Burlington Marriott.

RD Management LLC reports that it has secured a new lease with Comcast Corp. at its 271,377-square-foot Meadow Brook Center in Lowell, MA. The 4,700-square-foot XFINITY Store will operate on a freestanding pad site that is currently under construction, with a projected completion date of December 2016.

Meadow Brook Center is located in Middlesex County at 199-211 Plain St. at the intersection of Lowell Connector and in close proximity to UMass Lowell and Lowell National Historical Park. Anchor tenants include Target, Marshalls, and Best Fitness. RD Management owns several properties throughout Massachusetts and has more than 200 properties in its national portfolio.

Acquisitions-Mergers

Brick, NJ-based Tryko Partners has acquired the Methuen Health & Rehabilitation Center. Tryko purchased the facility in Methuen, MA, which has been renamed Cedar View Rehabilitation and Healthcare Center, from SMV Methuen, LLC.

The firm's affiliate, Marquis Health Services, will immediately launch a $2.5-million renovation to modernize the building and accommodate expanded programming. No purchase price was disclosed.

Licensed for 107 beds, Cedar View was built in 1960, renovated in 1995 and currently operates 98 beds in 46 resident rooms. The 33,500-square-foot, single-story building sits on a seven-acre parcel at 480 Jackson St.

Cedar View Rehabilitation and Healthcare Center includes two resident wings. Marquis Health Services will fully renovate all patient rooms, taking several beds offline to increase the percentage of private and semi-private accommodations. The firm will expand the facility's gym with state-of-the-art equipment, including a smart car to help patients simulate actual daily living skills during the rehab process. The improvements will incorporate new furniture and finishes throughout common areas, the main dining room, beauty shop, and administrative offices. Marquis Health Services will also introduce clinically driven pulmonary and cardiac rehabilitation programs.

Steve Thomes and Jacob Gehl of Blueprint Healthcare Real Estate Advisors served as brokers in the Cedar View sale. Chicago-based Private Bank provided acquisition financing.

Cushman & Wakefield reports that the firm's Boston-based senior housing team has represented a joint venture of Garrison Investment Group, Grand Park Capital Management and Focus Healthcare Partners LLC in its $180-million sale of the Town Village portfolio, which consists of four properties that cater to independent-living residents.

The Town Village portfolio includes 816 units and properties in Birmingham, AL; Tulsa, OK; Memphis, TN and Sterling Heights, MI.

Cushman & Wakefield executive managing director Richard Swartz, managing director Jay Wagner, senior director Aaron Rosenzweig and director Timothy Hosmer represented the joint venture.

Brokerage firm Horvath & Tremblay has successfully brokered the sale of four properties in Massachusetts, New York and Maryland for more than $11.7 million in total sales. Closing at a sale price of $6,232,142 was the newly constructed Rite Aid and Marlborough Savings Bank in Hudson, MA. Horvath & Tremblay exclusively represented the seller to closing the property at a cap rate of 5.6%.

Situated on a 1.96-acre parcel, Rite Aid and Marlborough Ban, the newly constructed properties were developed on the last remaining parcel for development in Downtown Hudson. Rite Aid and Marlborough Savings Bank signed new 20-year and 12-year, ground leases respectively with each lease structured with six, five-year options and scheduled rental escalations. Rite Aid committed to this location relocating out of another building about one mile away.

Three additional sales include Wendy's in Plattsburgh, NY for $2,637,500, M&T Bank in Syracuse, NY for $675,000, and Wendy's in California, MD for $2,224,853.

O'Connell Hospitality Group merged its Northeast hotel brokerage practice with HREC's national hotel platform effective Sept. 8. Going forward, Jim O'Connell will be principal at HREC Investment Advisors and will be HREC's practice leader in the new Boston office.

“Our large hotel company and institutional clients can now utilize our unique market knowledge and experience in the Northeast and benefit from the HREC national platform that stretches to both coasts. We can now offer exponentially more resources for brokerage and finance to our clients. The culture of both companies is very similar,” says O'Connell.

O'Connell Hospitality Group is a Boston headquartered real estate advisory firm specializing in hotel and resort transactions. HREC is a leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, consulting (market studies and appraisals), and litigation support.

Hires

JLL Construction has promoted Josh Berman and Greg Murphy to vice president/project executive and construction manager respectively.

Berman joined JLL in 2013, and has more than 10 years of experience in the construction industry. Most recently, he managed numerous projects in the Cambridge area including the 160,000-square-foot fit-out for IBM Watson at 399 Binney St. in Cambridge, and buildings across the MIT campus. Berman will also serve in an executive capacity in the management of the construction group at JLL.

Murphy joined JLL in 2013. He has been assisting with the construction of IBM Watson. In his new role he will be providing construction management services for a number of projects in New England.

The Cooperative Bank, a full-service community bank specializing in commercial real estate and business lending throughout Eastern Massachusetts, has hired John Battaglia as senior vice president, mortgage operations.

Battaglia will be responsible for the management of all residential loan activities, developing mortgage loan policies, and providing financing for current and new residential customers. Battaglia brings more than 35 years of mortgage banking experience to TCB and most notably founded Cambridge Mortgage Group, Inc. in 1996, which became a subsidiary of South Shore Bank in 2008.

With the appointment of Battaglia, TCB's residential lending group will move to Hingham, MA in mid-September. TCB plans to expand hiring as well as relocate existing employees to build an elite sales and operation staff. The Hingham location will serve as a hub for TCB's residential mortgage business, while supporting TCB's branches in Roslindale, West Roxbury, and Charlestown.

Ned Halloran and Leeanne Rizzo will have joined NAI Hunneman's leasing & advisory service team as senior vice presidents focusing on landlord and tenant representation in the south suburban markets. Halloran and Rizzo each bring more than 10 years of commercial real estate experience to their positions at NAI Hunneman.

Prior to joining NAI Hunneman both Halloran and Rizzo were senior managing directors with Newmark Grubb Knight Frank in Boston where they handled landlord and tenant representation work in the south and west suburban markets for office, flex and industrial products. Prior to Newmark, Halloran spent 10 years with Lincoln Property Company, while Rizzo worked with Trammell Crow (FHO Partners) and Colliers International.

Colliers International, Boston has added Adam Schneier as vice president to the Boston/Cambridge brokerage team and Jason Rexinis as assistant vice president to the firm's central 128 suburban team.

Schneier brings expertise in a wide range of services, including tenant and landlord representation, global portfolio advisory, acquisitions and dispositions. Schneier was previously a managing director and partner at Boston Realty Advisors, specializing in both tenant and landlord advisory. He was also employed at Newmark Grubb Knight Frank and Lincoln Property Company from 2003 to 2009.

Rexinis was previously an assistant vice president at NAI Hunneman, where he was awarded “Rookie of The Year” in 2015. While there, he sourced major tenant advisory transactions including Desktop Metal and Tecomet, and represented area landlords, including Duffy Properties.

Massachusetts

BOSTON—New York Life Real Estate Investors has acquired One Bowdoin Square, a 133,353-square-foot, 11-story office building here for a reported purchase price of nearly $62 million.

The property was 91% leased at the time of the sale. The property is 69% credit anchored by Massachusetts General Hospital and the General Services Administration on behalf of the Social Security Administration. The sale was recorded with Suffolk County at $61.85 million, according to the Boston Business Journal. New York Life Real Estate Investors purchased the property on behalf of institutional investors.

The property sits at the foot of Beacon Hill and is located near Boston City Hall, the Massachusetts State Courthouse, other state and city courthouses, federal buildings, Massachusetts General Hospital and North Station.

“One Bowdoin Square represents an excellent opportunity to invest in a quality asset in Boston's Government Center and North Station neighborhoods,” says Steven Osborne, senior director at New York Life Real Estate Investors. “With significant capital budgeted to maintain and upgrade the property, One Bowdoin Square will be well positioned to take advantage of the increasing demand from companies seeking high quality office space in a transit-oriented location within Boston.”

New York Life Real Estate Investors is a division of NYL Investors LLC, a wholly-owned subsidiary of New York Life Insurance Co.

Leases

Jack's Abby Craft Lagers has nearly doubled its space at 100 Clinton St. in Framingham, MA. Calare Properties and partner Hackman Capital Partners report that the brewery has leased an additional 63,000 square feet of industrial space at the building.

Jack's Abby Craft Lagers signed its first lease at the property for 67,000 square feet in 2014 and houses its growing brewery and Jack's Abbey Hall, a 175-seat, 5,000-square-foot restaurant there. Calare and Hackman Capital were represented by CBRE/New England's team of Bob Gibson, EVP/partner, and Steve Clancy, EVP, partner.

As part of the brewer's expansion, Calare will provide $1.5 million in upgrades to the current warehouse and office space, including a new roof, elevator, windows, façade work and lighting.

NAI Hunneman recently completed a 12,901-square-foot lease transaction with Community Research Initiative at The Schrafft's Center in Charlestown.

The independent, non-profit, community based organization is relocating its operations from 38 Chauncy St. in Downtown Crossing, the brokerage firm reports.

NAI Hunneman EVP Peter Evans and associate Brooke Blue represented CRI in the transaction, while JLL's Molly Heath and John Osten represented the landlord The Flatley Co.

“Despite loving our downtown location we needed to find space that was more cost effective to our bottom line,” says CRI executive director Julie Marston. She adds that the new space in Charlestown met both its immediate and long-term needs, while allowing the organization to remain in close proximity to downtown.

CRI is an independent, nonprofit, community-based organization in New England dedicated to HIV and hepatitis C clinical research, treatment education, and financial assistance for approved HIV drug treatments and health insurance coverage.

Orbis Education, in partnership with Northeastern University's Accelerated Bachelor of Science in Nursing Program signed a long-term, 13,904-square-foot lease expansion at 5 Burlington Woods Drive in Burlington, MA.

Part of Northeastern University's School of Nursing, the ABSN Program is designed for those who already hold a Bachelor's degree in another field and wish to acquire a Bachelor of Science degree in nursing and become a Registered Nurse. Newmark Grubb Knight Frank director Brendan Daly and the brokerage's 128 West team represented the Northeastern University ABSN Program in the transaction, which doubles the amount of space leased by the tenant.

Owned by Capstone Properties, a commercial real estate investment and brokerage firm, 5 Burlington Woods Drive is a 110,000-square-foot, three-story Class A office building that is located next to the Burlington Marriott.

RD Management LLC reports that it has secured a new lease with Comcast Corp. at its 271,377-square-foot Meadow Brook Center in Lowell, MA. The 4,700-square-foot XFINITY Store will operate on a freestanding pad site that is currently under construction, with a projected completion date of December 2016.

Meadow Brook Center is located in Middlesex County at 199-211 Plain St. at the intersection of Lowell Connector and in close proximity to UMass Lowell and Lowell National Historical Park. Anchor tenants include Target, Marshalls, and Best Fitness. RD Management owns several properties throughout Massachusetts and has more than 200 properties in its national portfolio.

Acquisitions-Mergers

Brick, NJ-based Tryko Partners has acquired the Methuen Health & Rehabilitation Center. Tryko purchased the facility in Methuen, MA, which has been renamed Cedar View Rehabilitation and Healthcare Center, from SMV Methuen, LLC.

The firm's affiliate, Marquis Health Services, will immediately launch a $2.5-million renovation to modernize the building and accommodate expanded programming. No purchase price was disclosed.

Licensed for 107 beds, Cedar View was built in 1960, renovated in 1995 and currently operates 98 beds in 46 resident rooms. The 33,500-square-foot, single-story building sits on a seven-acre parcel at 480 Jackson St.

Cedar View Rehabilitation and Healthcare Center includes two resident wings. Marquis Health Services will fully renovate all patient rooms, taking several beds offline to increase the percentage of private and semi-private accommodations. The firm will expand the facility's gym with state-of-the-art equipment, including a smart car to help patients simulate actual daily living skills during the rehab process. The improvements will incorporate new furniture and finishes throughout common areas, the main dining room, beauty shop, and administrative offices. Marquis Health Services will also introduce clinically driven pulmonary and cardiac rehabilitation programs.

Steve Thomes and Jacob Gehl of Blueprint Healthcare Real Estate Advisors served as brokers in the Cedar View sale. Chicago-based Private Bank provided acquisition financing.

Cushman & Wakefield reports that the firm's Boston-based senior housing team has represented a joint venture of Garrison Investment Group, Grand Park Capital Management and Focus Healthcare Partners LLC in its $180-million sale of the Town Village portfolio, which consists of four properties that cater to independent-living residents.

The Town Village portfolio includes 816 units and properties in Birmingham, AL; Tulsa, OK; Memphis, TN and Sterling Heights, MI.

Cushman & Wakefield executive managing director Richard Swartz, managing director Jay Wagner, senior director Aaron Rosenzweig and director Timothy Hosmer represented the joint venture.

Brokerage firm Horvath & Tremblay has successfully brokered the sale of four properties in Massachusetts, New York and Maryland for more than $11.7 million in total sales. Closing at a sale price of $6,232,142 was the newly constructed Rite Aid and Marlborough Savings Bank in Hudson, MA. Horvath & Tremblay exclusively represented the seller to closing the property at a cap rate of 5.6%.

Situated on a 1.96-acre parcel, Rite Aid and Marlborough Ban, the newly constructed properties were developed on the last remaining parcel for development in Downtown Hudson. Rite Aid and Marlborough Savings Bank signed new 20-year and 12-year, ground leases respectively with each lease structured with six, five-year options and scheduled rental escalations. Rite Aid committed to this location relocating out of another building about one mile away.

Three additional sales include Wendy's in Plattsburgh, NY for $2,637,500, M&T Bank in Syracuse, NY for $675,000, and Wendy's in California, MD for $2,224,853.

O'Connell Hospitality Group merged its Northeast hotel brokerage practice with HREC's national hotel platform effective Sept. 8. Going forward, Jim O'Connell will be principal at HREC Investment Advisors and will be HREC's practice leader in the new Boston office.

“Our large hotel company and institutional clients can now utilize our unique market knowledge and experience in the Northeast and benefit from the HREC national platform that stretches to both coasts. We can now offer exponentially more resources for brokerage and finance to our clients. The culture of both companies is very similar,” says O'Connell.

O'Connell Hospitality Group is a Boston headquartered real estate advisory firm specializing in hotel and resort transactions. HREC is a leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, consulting (market studies and appraisals), and litigation support.

Hires

JLL Construction has promoted Josh Berman and Greg Murphy to vice president/project executive and construction manager respectively.

Berman joined JLL in 2013, and has more than 10 years of experience in the construction industry. Most recently, he managed numerous projects in the Cambridge area including the 160,000-square-foot fit-out for IBM Watson at 399 Binney St. in Cambridge, and buildings across the MIT campus. Berman will also serve in an executive capacity in the management of the construction group at JLL.

Murphy joined JLL in 2013. He has been assisting with the construction of IBM Watson. In his new role he will be providing construction management services for a number of projects in New England.

The Cooperative Bank, a full-service community bank specializing in commercial real estate and business lending throughout Eastern Massachusetts, has hired John Battaglia as senior vice president, mortgage operations.

Battaglia will be responsible for the management of all residential loan activities, developing mortgage loan policies, and providing financing for current and new residential customers. Battaglia brings more than 35 years of mortgage banking experience to TCB and most notably founded Cambridge Mortgage Group, Inc. in 1996, which became a subsidiary of South Shore Bank in 2008.

With the appointment of Battaglia, TCB's residential lending group will move to Hingham, MA in mid-September. TCB plans to expand hiring as well as relocate existing employees to build an elite sales and operation staff. The Hingham location will serve as a hub for TCB's residential mortgage business, while supporting TCB's branches in Roslindale, West Roxbury, and Charlestown.

Ned Halloran and Leeanne Rizzo will have joined NAI Hunneman's leasing & advisory service team as senior vice presidents focusing on landlord and tenant representation in the south suburban markets. Halloran and Rizzo each bring more than 10 years of commercial real estate experience to their positions at NAI Hunneman.

Prior to joining NAI Hunneman both Halloran and Rizzo were senior managing directors with Newmark Grubb Knight Frank in Boston where they handled landlord and tenant representation work in the south and west suburban markets for office, flex and industrial products. Prior to Newmark, Halloran spent 10 years with Lincoln Property Company, while Rizzo worked with Trammell Crow (FHO Partners) and Colliers International.

Colliers International, Boston has added Adam Schneier as vice president to the Boston/Cambridge brokerage team and Jason Rexinis as assistant vice president to the firm's central 128 suburban team.

Schneier brings expertise in a wide range of services, including tenant and landlord representation, global portfolio advisory, acquisitions and dispositions. Schneier was previously a managing director and partner at Boston Realty Advisors, specializing in both tenant and landlord advisory. He was also employed at Newmark Grubb Knight Frank and Lincoln Property Company from 2003 to 2009.

Rexinis was previously an assistant vice president at NAI Hunneman, where he was awarded “Rookie of The Year” in 2015. While there, he sourced major tenant advisory transactions including Desktop Metal and Tecomet, and represented area landlords, including Duffy Properties.