TYNGSBOROUGH, MA-The former New England Power and Marine Buildings are sold in an auction to John Bertos for $1 million. The 26,000 sf property, located at 3-5 Middlesex Rd., consists of three buildings situated on nearly four acres.
FRAMINGHAM, MA-PanGo Networks subleases nearly 7,000 sf at 959 Concord St. The software development and applications company is relocating its worldwide headquarters from Pittsburgh and was able to get one of the remaining available sublease spaces this size in the area.
BOSTON-The Grossman Cos., in a partnership, redevelops the former Bell Steel facility at 150 McClellan Highway. The company, which owns four other buildings on this stretch of road, is building a 138,000-sf self storage facility on the site.
BELLINGHAM, MA-The town's planning board gives Dunkin Donuts' proposal to build a 410,000-sf warehouse on Depot Street the thumbs up. The company wants to build its northeast distribution center on a 35-acre parcel.
EAST BOSTON-Xpress Global Air Freight leases 16,000 sf air freight warehouse space at 370 McClellan Highway. The deal is indicative of this market which is very tight due to its location with immediate access to the airport. The space had been occupied previously by Air Canada.
BOSTON-The Back Bay Restaurant Group acquires 157 Newbury St. for $4.6 million from 1025 Hancock Street Trust. The locally based group intends to develop a mixed-use project on the 14,765-sf property, which is located in the heart of the city's Back Bay.
NEWTON, MA-Ex Libris (USA) Inc. leases 5,749 sf on the third floor of 313 Washington St., an 85,788-sf four-story building located seven miles west of Boston. The property is owned and managed by Paradigm Properties.
WILMINGTON, MA-In one of the larger industrial sale transactions of the year, Wilfab Associates Trust sells 235 Andover St. to Marshall Farmington LLC for $5.4 million. The 13.4-acre property has two existing buildings on the site totaling 92,580 sf.
TAUNTON, MA-A few months after closing on the deal, SSR Realty Advisors secures $15 million in acquisition financing for two warehouse and distribution buildings totaling 589,172 sf. The buildings, located at 275 John Hancock Rd. and 800 John Quincy Adams Rd., were bought from Condyne and LaSalle Investment.
NEWTON, MA-RMR Hospitality and Real Estate Fund prices its initial public offering; 2.5 million shares were priced at $20 per share, totaling nearly $50 million in proceeds. The locally based closed-end investment company invests in securities issued by hospitality and real estate companies.