LAWRENCE, MA-JPI purchases British Colonial Apartments and Beacon Terrace Apartments for $17 million from a private investor. The deals mark the first purchase of existing property in the Greater Boston area for the Dallas-based real estate developer.
WELLESLEY, MA-Roche Bros. Supermarkets signs a long term lease agreement with Eastern Development to remain on Linden Street in a 180,000-sf retail center that is located on a 24-acre parcel in the heart of the city's Downtown.
SAUGUS, MA-Famous Footwear leases 7,409 sf at Saugus Plaza, a 209,125-sf retail center on Route One. The plaza, which is currently being retenanted, is located at the Walnut Street exchange and is anchored by Kohl's Department Store and Wild Oats Market.
BROOKLINE, MA-In its second appearance before Town Meeting, Winn Development's proposal to build a 220,000-sf building in the Village Square got the zoning change it needs to move forward. The developer lowered the height of the building by ten feet from the original proposal.
DANVERS, MA-Avalon Bay Communities Inc.'s plan to build a 500-unit complex on the site of the former Danvers State Hospital is moving closer to reality. The hospital, which closed in the 1980s, consists of 77 acres on Route 62 off Route 1.
DEDHAM, MA-Residents are challenging the zoning change that was approved for Hebrew Rehabilitation Center for Aged's plan to build a campus on 170 acres off West Street. The group has forced the town to hold a special election on the issue.
WELLESLEY, MA-F. Diehl & Son, a locally based development company, merges with affiliates of Eastern Development, LLC, a Woburn-based real estate development firm. F. Diehl & Son owns a 24-acre parcel in the center of Downtown.
BOSTON-Archstone-Smith moves into the city. The Colorado-based development company, which is currently developing a 28-story high-rise apartment community in the city's Chinatown neighborhood, is opening a regional office in 10,000 sf at 186 Lincoln St.
BOSTON-The 790-room Westin hotel will be integrated with the new Boston Convention & Exhibition Center and was considered crucial to its success. The hotel was supposed to open with the center this year, but its developers had trouble securing financing for the project.
BOSTON-The Boston Redevelopment Authority grants its final approvals for the ArtBlock 731 project proposed by New Atlantic Development Corp. for the Old Bates School on Harrison Avenue in the South End. The project involves constructing two new five-story buildings and renovating the existing Bates Arts Resource Center.