BOSTON- Mayor Thomas M. Menino launches a new commercial development initiative that involves marketing city-owned commercial properties that are currently vacant to developers who will redevelop the sites as office, retail or mixed-use projects.
WILMINGTON, MA-Carlisle Capital's three-building complex on Ballardvale Street reached 91% occupancy with the signing of two leases totaling 17,470 sf. Agiltron Inc. leased 5,845 sf and Champion Windows leased 11,626 sf.
AMHERST, MA-The University of Massachusetts here will be able to ease its housing crunch. Trustees of the university will allow it to borrow up to $85 million to develop new housing that could accommodate up to 1,500 new beds.
WESTBOROUGH, MA-Pulte Homes, one of the country's largest homebuilders, leases 8,713 sf at 115 Flanders Rd. Berkeley Investments owns this building as well as 117 Flanders Rd. through a partnership with JP Morgan Partners.
WORCESTER, MA-Berkeley Investments' is the winning bid for the Worcester Common Fashion Outlets. The firm plans to redevelop the site into a mixed-use project that would include residential condominiums, retail space, medical offices and senior housing.
MEDFORD, MA-Rowenta leases 19,114 sf of office space at 196 Boston Ave. The company is renewing its lease on 9,336 sf in the building and expanding into an additional 9,778 sf.
WALTHAM, MA-Colubris Networks leases 10,900 sf at 200 West St., a four-story, 240,000-sf class A office building owned by Boston Properties. The company, which develops Wi-Fi wireless LAN solutions, is subleasing the space from IONA Technologies.
NORTH BILLERICA, MA-NorthMarq Capital arranges a mortgage financing of $5.6 million for the BTU International Headquarters Building, a 150,000-sf building located at 23 Esquire Rd. in the North Billerica Industrial Park.
MARLBOROUGH, MA-Boston Scientific Corp. acquires Addition Hill, the 500,000-sf, 10-acre complex at 55 Fairbanks Blvd. from Hall Gillespie. The property was originally purchased in 2002 by Hall Gillespie from Lucent Technologies, Inc. for $27.5 million.
BOSTON-The redevelopment of North Point gets a shot in the arm as it receives a $1-million federal grant for the relocation of the new Lechmere Station in the area.