LOWELL, MA-Yale Properties USA and Blackstone Real Estate Advisors put the Cross Point, a 1.2 million sf office project located near Routes 495 and 3, up for sale. The broker involved tells GlobeSt.com that strong interest on the part of potential investors convinced the owners to put the property on the market.
CAMBRIDGE, MA-Permanent mortgage financing in the amount of $5 million is arranged for 54 CambridgePark Dr. on behalf of Samuels CambridgePark Drive LLC. The office market here continues to struggle while available biotech space is hard to come by.
MELROSE, MA- Fidelity Investment's real estate division, Pembroke Real Estate, proposes a mixed-use project for its 15-acre site that straddles this city and Malden. The project involves 579 rental units but the city is looking to get an affordable housing component into the mix.
FRAMINGHAM, MA- Rosewood Associates tells abutters to the nine-building complex it owns in the downtown area that it is considering residential use for some buildings on the site. The developer has plans on file with the town to put office space there.
SOUTHERN NH-Increased activity in the area indicates that that its commercial market is starting to show signs of picking up. The transactions include the sale of a 14,600-sf warehouse, and a number of lease deals.
CHELSEA, MA-A plan to develop a self-storage warehouse on a 1.5-acre site at 359 Beechum St. on the Islandend River is complicated by local opposition and the fact that the site could fall under Chapter 91 regulations.
NEEDHAM, MA- Oridion Systems Ltd. establishes its US headquarters at 21 Highland Circle. The Jerusalem-based company, which develops medical devices, is consolidating its three branches at the new location.
NEEDHAM, MA-The Ozer Group LLC, a locally based retail consulting, business evaluation and asset disposition firm, forms Ozer Real Estate Services. The new division is forming a "strategic alliance" with Cushman & Wakefield, Inc.
BOSTON-Fidelity Corporate Real Estate LLC subleases 31,744 sf of downtown office space at 260 Franklin St. A Boston-based infrastructure software provider leases 15,820 sf and a European IT firm takes 15,924 sf.
BOXBOROUGH, MA-Wells Real Estate Investment Trust acquires a 174,585-sf office building near Route 495 for $35.2 million. A local industry expert tells GlobeSt.com that the deal is a testament to the amount of capital available for a good-credit deal.