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The Real Reporter July 8, 2010
The Real Reporter July 8, 2010
etxe 37
moc.retroperlaereht.www :etisbew
moc.retroperlaereht@kcabdeef :tcatnoc JULY 8, 2010
W
OBURN—In a six-fig-
ure agreement that
fills an empty build-
ing here and introduces a
growing career training
school to suburban Boston’s
northern tier, the Porter &
Chester Institute has leased
all of 8 Presidential Way
from the Campanelli Cos.
THE REAL REPORT and Commonfund Realty.
continued on page 14 8 Presidential Way, Woburn MA
Quincy Quarry
C&W to Broker 650,000SF Retail Package
BY JOE CLEMENTS
B
OSTON—Even after enduring one of
the harshest periods ever for retail
real estate, a package of eight New
England shopping centers that was pulled
off the sales market in late 2008 appears
to be none the worse for wear as owners
1100 Crown Colony Dr., Quincy MA Heitman and a California pension fund
again try to find a taker in the $100 million
QUINCY — What a difference a
range. Still at 98 percent occupancy, the
decade can make.
portfolio’s resiliency through the crash
Heaped among a national package
Shaw’s Plaza, Hanover MA continued on page 17
of 40 properties that reaped $1.35
billion, the sale of 1100 Crown
Colony Dr. here to close out the
second quarter was valued at $19.6 Rising Tide Lifting the Better Boats
million, providing a healthy discount BY JOE CLEMENTS “You feel it, you hear it, you see it getting
for the new ownership. Dividend
W
ALTHAM—Suburban office build- stronger everyday.” The veteran broker
Capital Total Realty Trust of ings still face a prolonged convales- sounds substantially more upbeat than he
Denver secured the portfolio of 9.9 cence from the economic malaise did during a 2010 forecast last December
million sf that was listed by Holliday that has ravaged landlords nationally, but when he fretted the difficulties could
Fenoglio Fowler on behalf of iStar after spending nearly two years linger into next year. But for var-
Financial, paying just over $130 per flat on their backs, that con- ious reasons, the pace quickened
sf for the assets. stituency is finally moving noticeably in the second quarter,
The 132,000-sf Quincy property towards a recovery at the local says Kerrigan, whose own firm
had been purchased by iStar prede- level, according to industry just negotiated a quintet of deals
cessor TriNet Properties for $25 experts spoken to this week. filling nearly 40,000 sf at the
million in June 1998. That amounts “There’s a bit of lift in the mar- Waltham Watch Factory on
continued on page 17 ket, no question,” reports Grubb behalf of Berkeley Investments.
& Ellis principal Jack Kerrigan. Jack Kerrigan continued on page 16
2 THE REAL REPORTER July 8, 2010
A
CTON — At just $20 per sf, 100
Nagog Park is priced to move, and
broker Matthew Pullen of CBRE/New
England says suitors are responding in
kind, scrambling for information on the
195,000-sf office build-
ing even as the market-
ing campaign kicks off
during a normally lan-
guid period for invest-
ment sales.
“There is great activ-
ity already,” conveys
Matthew Pullen Pullen, including one
day this week when 10
showings were on tap 100 Nagog Park, Acton MA
for the CBRE/NE team tance from leasing experts Robert aggressively pursue a re-tenanting initia-
hired by Lehman McGuire and Rob Walles. tive after taking back 100 Nagog Park, but
Brothers to sell a prop- Pullen attributes the attractive pricing Pullen is among those who believe such an
erty that has been as a key contributor to the early ardor. effort today could produce positive results
vacant for five years Even minus an income stream, 100 Nagog even in the down economy.
since being acquired via Park is assessed at more than $14.5 mil- “It will allow the new investor to be
William Moylan
a foreclosure. Pullen lion and is being offered at a fraction of very competitive on leasing,” relays
and CBRE/NE principal William Moylan the estimated replacement cost of $200 Pullen, who says the building is solid phys-
are overseeing the campaign with assis- per sf. Lehman for various reasons did not continued on page 16
2,500-15,000 SF
Office Space Available
QUINCY, MASSACHUSETTS
Campanelli Companies and Colliers Meredith & Grew thank the following tenants and brokers in connection with
their lease transactions at 300 Crown Colony in Quincy, Massachusetts:
Colliers Meredith & Grew | 160 Federal Street | Boston, MA 02110 | www.colliersmg.com
4 THE REAL REPORTER July 8, 2010
I
n lauding Maria J. “Does it ever get any easier?
Krokidas upon being Absolutely not,” she says.
named Entrepreneur of “You will always have sleep-
the Year by New England less nights.” On the other
Women in Real Estate, hand, she says, the battle
clients, colleagues and scars do remind one that
friends share one lament— better times are in the off-
the salutation was WAY ing. “You have confidence
overdue. you will survive,” she
“She has been doing this explains. “In the first few
forever,” says Richard M. years, you aren’t so sure.”
Bluestein, quite familiar Albeit “very slowly,” con-
with his partner thanks to ditions are on the mend this
spending 28 of the firm’s 30 time as well, says Krokidas.
years at what is now Government stimulus efforts
Krokidas & Bluestein, a mid- have reinvigorated many
sized Boston practice dormant public projects for
launched in 1980 to provide K&B clients in the first half
public-sector expertise and Boston Convention & Exhibition Center, Boston MA of 2010, and Krokidas says a
support socially conscious endeavors. the ranks of the multi-faceted CRE field, a brighter economy has the private sector
Joining after a stint counseling the Boston pool from which Krokidas says there are again needing legal services.
Housing Authority, Bluestein says many viable candidates. “I think we’ve got Possessing a cooperative staff willing
Krokidas made him realize that “doing some of the best and brightest people you to do double-duty has been key to the
right by doing good” can find anywhere,” she says. Krokidas firm’s resiliency, says Krokidas. “Having a
REAL PROFILE only helps if the then learned she was being great office manager also
sponsor stays afloat, an eternal struggle in feted for her remarkable helps,” she adds, noting even
the DPS. “Maria taught me how to run a longevity traversing the the best accounting does not
business, including making sure to charge entrepreneurial high wire. work “if the bills don’t get sent
and collect your fees,” Bluestein recalls. “They said having survived out.”
Even though K&B still costs about half the for 30 years is pretty impres- Further, K&B has been
going rate so public, non-profit and family sive, and they wanted to rec- adept at choosing lucrative
owned business clients can afford top- ognize that,” she relays. lines of business that can sup-
notch legal representation, Bluestein says Krokidas gratefully acknowl- port assignments in the public
his partner’s managerial acumen and edges the intent. “It’s a great and non-profit markets,
adroit accounting skills have enabled the honor and I am very touched
firm to survive two brutal recessions, by their thoughtfulness,” she
including 1990-1992 when the public and says of the award that was
“
At some point,
Krokidas relays. Partner
Bluestein’s litigation practice
and a health care reimburse-
CRE arenas that K&B relies heavily upon presented in April during a I find I have to ment group led by 25-year
were simultaneously routed. By being ceremony at the Fairmont company alum Robert J.
“lean and efficient,” the practice that today Copley Plaza Hotel in
go close my door Griffin are among K&B’s main
has 22 attorneys survived that crash, and Boston’s Back Bay. so I can get my moneymakers. “They have
Bluestein says lessons learned then have Of course, Krokidas could
kept K&B from slashing staff in the latest have also been selected
lawyer fix. really helped keep the busi-
ness afloat,” she says.
slowdown, save for a few ancillary posi- based on current perform-
tions. “Compared to others, we have been ance after deftly guiding the
fortunate,” he says, crediting Krokidas. firm though what Bluestein
”
MARIA J. KROKIDAS
To combat a thin economy,
Krokidas steps up her activi-
ties on the administration and
In a recent interview with the Real and she both accede was the client servicing fronts, the lat-
Reporter, Krokidas said she was caught off worst of the fiscal droughts encountered ter a role colleagues consider invaluable.
guard when picked for the NEWIRE in its history. Krokidas says that cata- “Maria is a phenomenal client develop-
award, envisioning the citation as being strophic crash underscores the struggles ment person,” conveys K&B attorney
for a fresh-faced upstart rising through facing entrepreneurs no matter how long continued on page 15
July 8, 2010 THE REAL REPORTER 5
Commercial Deals
MILLION DOLLAR MORTGAGES/SALES JUNE 29 - JULY 2, 2010
J U LY 2 N D
MORTGAGE: $5,900,000 from People’s United
Bank, d/b/a The Bank of Western Massachusetts
Hartwell House Site Sells for $1.5M
ADDRESS: 425 Puritan Rd. and 57 Redington
St., Swampscott
BORROWER: Cynthia Hatch Belhumeur and
R. Thomas Belhumeur
MORTGAGE: $5,900,000 from People’s United Bank
ADDRESS: 1-11 Everett St., Revere
BORROWER: Mahoney Circle LLC
BUYER: Cole TS Southwick MA LLC
SELLER: TKC LXXXIX LLC
PRICE/ADDRESS: $4,399,201; College
Highway (Routes 10 and 202), Southwick
NOTES: College Highway (Routes 10 and
202); lot size is six acres
MORTGAGE: $3,972,000 from Eastern Bank
ADDRESS: 10 East Belcher Rd., Lots 1A and
2B, Foxborough
BORROWER: F.S.C. Realty LLC
BUYER: Holy Bible Baptist Church Inc.
SELLER: College Avenue United Methodist Church 94 Hartwell Ave., Lexington MA
PRICE/ADDRESS: $2,350,000; 14 Chapel St.
EXINGTON — The home of erstwhile Management. Jamsan’s headquarters at
and 64 College Ave., Somerville
MORTGAGE: $1,645,000 from Winter Hill Bank
NOTES: Religious-oriented building, tax
L local landmark Hartwell House
Restaurant has been acquired for
440 Bedford St., Lexington is the same
as Hartwell Hospitality LLC’s address
exempt, constructed 1924; building size is $1,500,000 by Hartwell Hospitality LLC. and just one mile from 94 Hartwell Ave.
32,925 sf, lot size is 16,550 sf The deal was backed by a $2,400,000 It is unclear whether the two entities are
MORTGAGE: $2,300,000 from Wellesley Bank loan from Northern Bank & Trust Co. affiliated.
ADDRESS: 415, 417, 419 and 419A and another $100,000 in seller financing. Located on 8.7 acres near Routes 128
Neponset, Dorchester Sold by Hartwell Realty Partners and 225, 94 Hartwell Ave. is a single-
BORROWER: John T. Carroll, trustee of LLC, the 12.825-sf property last traded story structure now marking a quarter-
Neponset Circle GC Realty TR for $2,100,000 in October 2005. The century in the eatery industry. Founded
managers of Hartwell Realty Partners by Laurence Tropeano, the Hartwell
BUYER: 87 Walkers Brook Drive LLC LLC are restaurateurs Martin A. Bloom House Restaurant and function facility
SELLER: Motiva Enterprises
and Robert Hoffman of Newton, better was shuttered five years ago after two
PRICE/ADDRESS: $1,750,000; 87 Walkers
Brook Dr., Reading known for their involvement in the decades in operation. The property had
MORTGAGE: $1,480,000 from Northern Capital Grille establishments in Greater operated since 2006 as Max Stein’s
Bank & Trust Co. Boston. Ashok Patel of Lexington is the American Steakhouse but recently
NOTES: Single-story gasoline station and con- manager of Hartwell Hospitality LLC, switched its culinary allegiance to
venience store; building size is 4,075 sf, lot size is and is also a principal at Jamsan Hotel become Palio’s Italian Grill. n
26,500 sf; last sold for $738,200 in Nov. 1998
MORTGAGE: $1,070,000 from Peoples BUYER: TRT NOIP Crown Colony – Quincy LLC BUYER: Lesley University
Federal Savings Bank SELLER: iStar CTL Crown Colony – Quincy LLC SELLER: Episcopal Divinity School
ADDRESS: 17-19 Walnut Pl., Revere PRICE/ADDRESS: $19,426,766; 1100 Crown PRICE/ADDRESS: $8,000,000; 99 Brattle St.
BORROWER: COB Realty LLC Colony Dr., Quincy and 2-4 St. Johns Rd., Cambridge
MORTGAGE: $443,030,000* from Wells NOTES: Religious-oriented buildings, tax
J U LY 1 S T Fargo Bank NA exempt, constructed 1920; 99 Brattle St. is
NOTES: Five-story office property, constructed 11,350 sf, lot size is 11,350 sf; 2-4 St. Johns Rd.
MORTGAGE: $23,000,000 from Great-West 1988; building size is 126,575 sf, lot size is 5.4 is 8,550 sf, lot size is 8,550 sf; properties include
Life & Annuity Insurance Co. acres; last sold for $25,000,000 in June 1998; Kidder Hall, Rousmaniere and Washburn Hall
ADDRESS: 500 Broadway, Malden *part of national portfolio purchase financed
BORROWER: Guardian Cliffside LLC by Wells Fargo Bank NA continued on page 11
6 THE REAL REPORTER July 8, 2010
Residential Deals
MILLION DOLLAR MORTGAGES/SALES JUNE 29 - JULY 2, 2010
J U LY 2 N D
MORTGAGE: $2,540,000 from Bank of
America NA
ADDRESS: 37 Royalston Rd., Lot 19, Wellesley
BORROWER: Mary K. Wells and Scott R. Wells
Residential Deals
MILLION DOLLAR MORTGAGES/SALES JUNE 29 - JULY 2, 2010
Residential Deals
MILLION DOLLAR MORTGAGES/SALES JUNE 29 - JULY 2, 2010
JUNE 30TH
BUYER: Sabrina J. Baloun-Kavet and Matthew
S. Kavet
SELLER: Michael L. Fay, Jonathan C. Ingbar
and Mary Lee Ingbar Estate
PRICE/ADDRESS: $3,000,000; 9 Follen St., A single-family home at 786 Strawberry Hill Rd. in Concord has new owners in Andrea Medved and
U-9, Cambridge Janos Rohaly, who paid $1,365,000 for the five-bedroom, 4,800-sf Colonial to Anne M. DeSilva and
MORTGAGE: $1,500,000 from Bank of Rajiv K. DeSilva. Acquisition of the 17-year-old property, which last sold for $1,475,000 in August 2007,
America NA was secured with a $417,000 loan from Amerisave Mortgage Corp.
NOTES: Residential unit in the 9-11 Follen
BUYER: Mini R. Kolluri and Surya P. Kolluri NOTES: Single-family Colonial, built 1928;
Street Condominium; unit size is 4,300 sf; five
SELLER: Nancy A. Wolf house size is 4,650 sf, lot size is 28,750 sf;
bedrooms and five baths; unit last sold for
PRICE/ADDRESS: $1,900,000; 67 three bedrooms and 3.5 baths; last sold for
$2,400,000 in July 1999
Buckminster Rd., Lot 9, Brookline $1,300,000 in March 2000
BUYER: Hingham Institution for Savings MORTGAGE: $1,330,000 from Bank of
SELLER: Joan L. Solomont America NA BUYER: Andrew Apstein and Erin Apstein
PRICE/ADDRESS: $2,950,000*; 60 Heath NOTES: Single-family Colonial, built 1893, SELLER: Marissa Carmel and Scott Carmel
Hill, Brookline house size is 4,375 sf, lot size is 17,100 sf; eight PRICE/ADDRESS: $1,316,000; 67 Ware Rd.,
NOTES: Single-family Cape, built 1980; house size bedrooms and 3.5 baths; seller’s ownership Needham
is 4,650 sf, lot size is 19,375 sf; eight bedrooms dates to Jan. 1956; Declaration of Homestead NOTES: Single-family Colonial, built 2008;
and 4.5 baths; *Foreclosure deed; prior sale to house size is 4,575 sf, lot size is 10,500 sf;
David and Joan Solomont for $58,750 Jan. 1982 MORTGAGE: $1,650,000 from Nantucket Bank four bedrooms and 3.5 baths; property last
ADDRESS: 3 Marion St., Lot 5-8, Nantucket sold for 487,500 in Nov. 2006
BUYER: Connie H. Hu and Jim C. Hu BORROWER: William Leone
SELLER: Christine Gawlick and Rainer J. Gawlick BUYER: Lawrence P. Coassin
PRICE/ADDRESS: $2,500,000; 206 MORTGAGE: $1,650,000 from Nantucket Bank SELLER: Franklin Street Cambridge Holding LLC
Buckminster Rd., Brookline ADDRESS: 2 Exeter St., Nantucket PRICE/ADDRESS: $1,300,000; 509 Franklin
MORTGAGE: $1,500,000 from Merrill BORROWER: Sarah Conforti-Halford and St., Cambridge
Lynch Credit Corp. Tommy Lee Halford MORTGAGE: $975,000 from BNY Mellon
NOTES: Single-family Colonial, built 1900; house NOTES: Three-decker residential, built 1855;
size is 4,475 sf, lot size is 6,600 sf; five bed- BUYER: Darren A. Bovie and Patricia L. Bovie living space is 3,925 sf, lot size is 4,000 sf
rooms and 4.5 baths; last sold for $1,140,000 in SELLER: Elmrock LLC
Aug. 1997; Declaration of Homestead PRICE/ADDRESS: $1,600,000; 7 Hamilton MORTGAGE: $1,240,000 from Bank of
Rd., Wellesley America NA
MORTGAGE: $1,990,000 from Infomercial MORTGAGE: $1,280,000 from Bank of ADDRESS: 38 Wanoma Way, Lot 124, Nantucket
Marketing Partners International America NA BORROWER: Gary C. Oberting
ADDRESS: 8 Linda Ln., Nahant NOTES: Single-family Colonial, built 2010;
BORROWER: Frank Ciampa and Diane Sugrue house size is 4,800 sf, lot size is 11,500 sf; BUYER: Mohammed A. Aljadaani and Sheri S. Taub
four bedrooms and 4.5 baths; property last SELLER: Daniel Coleman and Kimberly Nicole
BUYER: Elizabeth O’Grady and James O’Grady sold for $610,000 in July 2009 Khoury
SELLER: Richard A. Leavitt and Susan B. Leavitt PRICE/ADDRESS: $1,188,000; 445 Franklin
PRICE/ADDRESS: $1,950,000; 23 University BUYER: Edmund Bellord and Sadaf Roshan Bellord St., Cambridge
Ln., Manchester-by-the-Sea SELLER: Monica G. Noether MORTGAGE: $417,000 from RBS Citizens
NOTES: Single-family Mansion, built 1900; PRICE/ADDRESS: $1,400,000; 19 Lorena NOTES: Single-family, built 1894; house size is
house size is 6,225 sf, lot size is 1.8 acres; Rd., Lot 22A, Winchester 2,100 sf, lot size is 3,600 sf; four bedrooms and
eight bedrooms, two baths and two half-baths; MORTGAGE: $1,120,000 from Wainwright 2.5 baths; last sold for $1,125,000 in April 2005
last sold for $1,750,000 in Aug. 2005 Bank & Trust Co. continued on page 9
July 8, 2010 THE REAL REPORTER 9
Residential Deals
MILLION DOLLAR MORTGAGES/SALES JUNE 29 - JULY 2, 2010
BUYER: Richard A. Leavitt and Susan B. Leavitt BUYER: Michael G. Kaufman and Sharon Shacham JUNE 29TH
SELLER: Romaine L. Walker and Stephen S. Walker SELLER: Alison Au
PRICE/ADDRESS: $1,130,000; 72 Island Rd., PRICE/ADDRESS: $1,050,000; 15 Bontempo BUYER: Mark D. Balk, trustee of 37
Lot 1, Essex Rd., Newton Commonwealth Avenue Nominee Trust
NOTES: Single-family; house size is 4,225 sf, lot MORTGAGE: $725,000 from NewAlliance SELLER: Joseph R. Jenkins, trustee of 37
size is 1.7 acres; four bedrooms and four baths; Bank Commonwealth Avenue Realty Trust II
property last sold for $260,000 in Oct. 1989 NOTES: Single-family Colonial, built 2010; house PRICE/ADDRESS: $10,300,000; 37
size is 3,000 sf, lot size is 7,350 sf; five bedrooms Commonwealth Ave., Boston
BUYER: James M. Johnson and Kristin L. Johnson and five baths; property last sold for $196,750 in MORTGAGE: $7,210,000 from PHH
SELLER: Richard H. Beinecke and Deborah Jan. 1989; Declaration of Homestead Mortgage Corp.
Richardson Beinecke NOTES: Four-story apartment building, con-
PRICE/ADDRESS: $1,082,000; 61 Lang St., BUYER: Andrew Waisburd and Beth Waisburd structed 1910; living space is 8,725 sf, lot size is
Concord SELLER: Lisa Hickey and Michael Hickey 3,725 sf; last sold for $8,850,000 in Nov. 2005
MORTGAGE: $342,000 and $523,000 from PRICE/ADDRESS: $1,038,000; 55 Station St.,
Boston Private Bank & Trust Co. U-2B, Brookline BUYER: Carole J. Pieper and Charles P. Pieper
NOTES: Single-family Colonial, built 1911; MORTGAGE: $410,000 and $523,750 from SELLER: David S. Landes and Sonia T. Landes
house size is 3,125 sf, lot size is 22,000 sf; Patriot Community Bank PRICE/ADDRESS: $2,700,000; 24 Highland
four bedrooms and 3.5 baths; last sold for NOTES: Residential unit in low-rise condo- St., Cambridge
$365,000 in Dec. 1986; Declaration of minium property, constructed 2006; unit size is NOTES: Single-family Tudor with auxiliary apart-
Homestead 2,050 sf; three bedrooms and 2.5 baths; unit ment; house size is 5,075 sf, lot size is 13,100
last sold for $1,059,000 in Oct. 2007 sf; seller’s ownership dates to June 1965
BUYER: Mark Meltz and Pilar Meltz
SELLER: Countryside Building and MORTGAGE: $1,000,000 from Peoplesbank MORTGAGE: $2,000,000 from Charles Schwab Bank
Development Corp. ADDRESS: 219-393 Memorial Ave., West Springfield ADDRESS: 26 North Beach St., Lot 18, Nantucket
PRICE/ADDRESS: $1,050,000; 173 Tower BORROWER: Alliz Group Inc. and Century BORROWER: Steven M. Friedman
Rd., Lincoln Center LLC
MORTGAGE: $840,000 from Mortgage BUYER: Xiaooing Cao and Wenhua Zhang
Master MORTGAGE: $1,000,000 from Hyde Park SELLER: James P. Berezin, trustee of 78
NOTES: Single-family, built 2009; house size is Savings Bank Waban Avenue Realty TR
4,025 sf, lot size is 40,500 sf; four bedrooms ADDRESS: 224 Walnut St., Lot 1, Brookline PRICE/ADDRESS: $1,800,000; 78 Waban
and 3.5 baths; property last sold for $775,000 BORROWER: Judith R. Darrow and Michael D. Ave., Newton
in June 2008 Siegel continued on page 10
10 THE REAL REPORTER July 8, 2010
Residential Deals
MILLION DOLLAR MORTGAGES/SALES JUNE 29 - JULY 2, 2010
continued from page 9 MORTGAGE: $1,255,000 from Astoria MORTGAGE: $1,100,000 from Cambridge
Federal Mortgage Corp. Trust Co.
MORTGAGE: $900,000 from US Bank NA ADDRESS: 14 Winthrop St., Newton ADDRESS: 70 Simon Willard Rd., Concord
NOTES: Single-family, built 2002; house size is BORROWER: Pratima Abichandani and Vikrant Raina BORROWER: Daniel W. O’Connor and Julia W.
5,775 sf, lot size is 17,700 sf; five bedrooms and O’Connor, trustees of Julia W. O’Connor 2008 TR
5.5 baths; last sold for $2,150,000 in April 2005 MORTGAGE: $1,210,000 from Lowell Five
Cent Savings Bank MORTGAGE: $1,089,000 from Merrill
BUYER: Nathaniel S. Dodge IV and Sallie C. ADDRESS: 29 Sawyer Rd., Wellesley Lynch Credit Corp.
Dodge, trustees of Nathaniel S. Dodge IV and BORROWER: Kiran S. Rao and Malini Roy ADDRESS: 1 Benvenue St., Lots A and B, Wellesley
Sallie C. Dodge Family TR BORROWER: David J. Dymecki and Nancy J.
SELLER: Damon M. Wirtanen and Justine A. MORTGAGE: $1,200,000 from Boston Dymecki
Wirtanen Private Bank & Trust Co.
PRICE/ADDRESS: $1,700,000; 24 Tufts Rd., ADDRESS: 12 Seven Star Ln., Concord BUYER: Gregory D. Anthony and Jeremy A. Rassen
Lot 328, Lexington BORROWER: James A. Jessee and Kimberly B. SELLER: Nancy F. Kaye and Robert M. Kaye
MORTGAGE: $700,000 from Wells Fargo Jessee PRICE/ADDRESS: $1,065,000; 20 Intervale
Bank NA Rd., Lot 1, Brookline
NOTES: Single-family Colonial, built 2007; house BUYER: Agnes R. Ebbs and George H. Ebbs MORTGAGE: $852,000 from Salem Five
size is 4,100 sf, lot size is 17,000 sf; five bedrooms SELLER: Susan E. Morgan Mortgage Co.
and 4.5 baths; last sold for $650,000 in Sept. 2007 PRICE/ADDRESS: $1,200,000; 63 Forest St., NOTES: Single-family Garrison, built 1930;
Wellesley house size is 2,100 sf, lot size is 27,200 sf; three
MORTGAGE: $1,650,000 from Nantucket Bank MORTGAGE: $960,000 from TD Bank NA bedrooms and 2.5 baths; property last sold for
ADDRESS: 14 Dukes Rd., Lot 10, Nantucket NOTES: Single-family Colonial, built 1924; $83,000 in April 1980; Declaration of Homestead
BORROWER: Eugene Hanley house size is 2,950 sf, lot size is 18,050 sf; six BUYER: Carol A. Baggeroer
bedrooms and 4.5 baths; last sold for $350,000
BUYER: John A. Reynolds and Tracie L. Reynolds SELLER: Khalid Abdulaziz Alnowaiser, trustee
in May 1990; Declaration of Homestead
SELLER: Daniel H. Picking and Susan E. Picking of Worldwide Investment TR
PRICE/ADDRESS: $1,625,000; 21 Parker Rd., PRICE/ADDRESS: $1,050,000; 75-83
BUYER: Joseph L. Cargile and Tracey A. Cargile
Wellesley Cambridge Pkwy., U-W1003, Cambridge
SELLER: Prudential Relocation Inc.
NOTES: Single-family Colonial, built 2003; NOTES: Residential condominium in high-rise prop-
PRICE/ADDRESS: $1,195,000; 25 Otis St.,
house size is 3,950 sf, lot size is 13,200 sf; erty; unit size is 1,600 sf; two bedrooms and 2.5
Lot 4, Needham
four bedrooms and 2.5 baths; property last baths; unit last sold for $1,055,000 in Nov. 2007
MORTGAGE: $750,000 from Boston
sold for $567,500 in Aug. 2002 Private Bank & Trust Co. BUYER: Alex Kimmelman and Stacey Kimmelman
NOTES: Single-family Colonial, built 1912; house SELLER: Vivian Chen, f/k/a Vivian C. Natsis
BUYER: Catherine Paquette and David Paquette size is 3,400 sf, lot size is 8,325 sf; four bedrooms
SELLER: James M. Johnson and Kristin L. Johnson PRICE/ADDRESS: $1,015,000; 38 October
and 3.5 baths; acquired by Prudential Relocation on Ln., Weston
PRICE/ADDRESS: $1,625,000; 110 June 16th 2010 from Alisa M. Skatrud and Michael
Hampshire Rd., Lot 283, Wellesley MORTGAGE: $812,000 from Salem Five
Skatrud; prior sale of $1,100,000 in Sept. 2005 Mortgage Co.
MORTGAGE: $1,300,000 from Middlesex
Savings Bank NOTES: Single-family Colonial, built 1967; house
BUYER: Glen R. Votapka and Suzanne Votapka size is 3,225 sf, lot size is 30,050 sf; five bedrooms
NOTES: Single-family Colonial, built 1954; SELLER: Anne T. Sisk and Joseph W. Sisk
house size is 3,825 sf, lot size is 27,675 sf; five and 3.5 baths; last sold for $975,000 in Nov. 2004
PRICE/ADDRESS: $1,190,000; 18 Southgate
bedrooms and 3.5 baths; last sold for Rd., Lot 5, Wellesley BUYER: Kerri S. Majors and Michael D. Majors
$1,605,000 in Aug. 2006 MORTGAGE: $625,000 from Sovereign Bank SELLER: Sandra Powers
NOTES: Single-family; house size is 2,650 sf, PRICE/ADDRESS: $1,012,500; 26 Hawthorne
MORTGAGE: $1,500,000 from RBS Citizens NA lot size is 21,375 sf; seller’s ownership dates Ln., Weston
ADDRESS: 5 Shotnaigher Ln., Chilmark to July 1963 MORTGAGE: $500,000 from Wells Fargo Bank
BORROWER: Kenneth J. Davidson and Susan
NOTES: Single-family Cape, built 1955; house size
M. Davidson BUYER: Christopher C. Mitchell and Daphne is 4,225 sf, lot size is 40,600 sf; four bedrooms
Koinis Mitchell and 4.5 baths; last sold for $970,000 in July 2007
MORTGAGE: $1,400,000 from Lowell Five SELLER: Sylvia W. Kaufman, trustee of
Cent Savings Bank Concolor Avenue Realty TR BUYER: Diane Charmont and Thomas Charmont
ADDRESS: 254 High St., Newburyport PRICE/ADDRESS: $1,100,000; 61 Concolor SELLER: Ann P. Morris and Joseph R. Morris
BORROWER: Lingley Lane LLP Ave. Newton PRICE/ADDRESS: $1,000,000; 3 Old
MORTGAGE: $770,000 from Salem Five Dunham’s Corner Way, Edgartown
MORTGAGE: $1,340,000 from Bank of Mortgage Co. MORTGAGE: $700,000 from MetLife Home
America NA NOTES: Single-family Colonial, built 1923; Loans
ADDRESS: 6 Candleberry Ln., Weston house size is 3,200 sf, lot size is 20,700 sf; NOTES: Single-family, built 1998; house size is
BORROWER: Caroline D. Robson and Simon three bedrooms and three baths; seller’s own- 2,175 sf, lot size is 30,500 sf; four bedrooms and
C. Robson ership dates to June 1989 2.5 baths; last sold for $133,712 in June 1997
July 8, 2010 THE REAL REPORTER 11
Commercial Deals
MILLION DOLLAR MORTGAGES/SALES JUNE 29 - JULY 2, 2010
Massachusetts Corporations
Organized June 29 - July 2, 2010
Corporation Directors/Registered Agents Address Nature of Business
Nuestra Quincy Commons Commercial LLC Eleanor Coleman, signatory 56 Warren St., Ste. 200, Roxbury MA 02119 Deal with real property
Geopricing LLC Sean Green, manager Principal office @ 1 Farwell Rd., Tyngsboro MA 01879; Real estate management and making
MA office @ 64 Spectacle Pond, Littleton MA 01460 investments of all kinds for profit
SLT LLC Lisa L. Turnblom, manager; Stephen J. Turnblom, 187 Gulf St., Shrewsbury MA 01545 Real estate development
manager and resident agent
One Hillside Estates LLC Jonathan Wildes, signatory; Nicholas Sivieri, Principal office @ 31 Home Depot Dr., Ste. 137, Plymouth MA 02360; Investment in, and ownership and develop-
signatory and resident agent Wildes @ 9 Inlet Cove Rd., Alstead NH 03602; ment of, real estate and interests therein
Sivieri @ 86 Shallow Pond Ln., Plymouth MA 02360
CFP Realty LLC Steven D. Catalano, manager, signatory and resident agent 188 Ayer Rd., Harvard MA 01451 Own, develop, invest in and manage real
and personal property
327-329 Boston Post LLC Gregory C. Tocci, manager, signatory and resident agent 327 F. Boston Post Rd., Sudbury MA 01776 Real estate
162 Centre Street LLC Thomas J. Donnelly, manager and signatory; Principal office @ 17 Woodworth St., Boston MA 02122; Dealing with interests in real estate
Lawrence L. Blacker, resident agent Blacker @ 77 Franklin St., Boston MA 02110
DLC Property Manager LLC 580 White Plains Rd., Tarrytown NY 10591 Ownership, operation and management of
real estate and real estate related assets
The MLS App Inc. James P. Mackin, president; Andrew T. Leafe, treasurer; Principal office @ 630 Park St., Stoughton MA 02072; Mackin @ Own, conduct, operate, maintain and carry on
Antoine E. Nakhle, secretary; Jeffrey Koss, Sally Koss and 1 Sheafe St., Apt. 1A, Boston MA 02113; Leafe @ 10 Onset Rd., and online advertising and promotions
Steven Koss, directors; Thomas J. Percy, Esq., reg. agent #409, Bennington NH 03442; Nakhle @ 45 Elmwood Rd., Wellesley MA; business that utilizes social networking for the
Percy @ Percy, Tedeschi & Assoc., PC, 4 Court St., Taunton MA 02780 promotion of real estate sales
Platinum Pebble LLC Annabelle Hunton, manager; Simon Hunton, manager and 186 Belmont Rd., West Harwich MA 02671 Operation of a lodging establishment that
resident agent offers overnight accommodation; holding of real and personal property
Northeast Affiliates LLC Brian W. Longval and Richard E. Warren, managers; Principal office @ 500 Maple St., Danvers MA 01923; Owning, managing & developing other comp-
James M. Cote, signatory and resident agent Cote @ 14 Bayberry Rd., Danvers MA 01923 anies, limited liability or otherwise, that own,
manage or develop RE; provide residential
& commercial RE sales and leasing services
TLP Acquisitions, Development & Terrell B. Bettano, president, treasurer, secretary and 254 Pleasant St., Winthrop MA 02152 Acquisition, development and management of
Management Corp. registered agent real property
Trinity Mattapan Heights Five Inc. James G. Keefe, treasurer and secretary; Patrick A.T. Lee, 40 Court St., Ste. 800, c/o Trinity Financial, Inc., Boston MA 02108 Buy, sell, own, develop, operate and maintain
president and registered agent real estate
DiFonte Properties LLC Mark P. DiFonte, manager, signatory and resident agent 64 Sullivan St., Unit 1, Charlestown MA 02129 Investment, ownership and development of
real estate and all interests therein
Trinity Mattapan Heights Five Patrick A.T. Lee, president 40 Court St., Ste. 800, c/o Trinity Financial, Inc., Boston MA 02108 Deal with interests in real estate
Limited Partnership
Incodwetrust LLC Paula M. Kelley, resident agent Principal office @ 318 Hurricane Rd., Keene NH 03431; Own, acquire, manage, operate, buy, sell,
Kelley @ 39 Town Hall Sq., Falmouth MA 02541 exchange, finance, refinance and otherwise
deal with real estate
LMP GFIII 800 Federal LLC Eric B. Sheffels, resident agent 10 Post Office Sq., Boston MA 02109 Deal with real estate and interests therein
Federal Street Common Area LLC Eric B. Sheffels, resident agent 10 Post Office Sq., c/o Leggatt McCall Properties LLC, Boston MA 02109 Real estate
LMP GFIII 600 Federal LLC Eric B. Sheffels, resident agent 10 Post Office Sq., Boston MA 02109 Invest in, own, manage, operate, acquire, lease,
develop, improve, sell and otherwise deal with
real estate and interests therein
R & M Family Realty LLC Michelle T. Auriemma, manager and signatory; Ronald 5 Larson Ln., Stoneham MA 02180 Real estate management
Auriemma, manager, signatory and resident agent
17-19 Upland Road LLC Eric M. Hoagland, manager, signatory and resident agent 195 Lexington Ave., Cambridge MA 02138 Own, manage, buy, sell, rent, develop and/or
construct real property
Yobela LLC Phyllis Murphy, M.D., manager and signatory; 176 Federal St., Rich May, P.C., Boston MA 02110; Murphy @ Own, manage, lease, operate and dispose of
Eric J. Krathwohl, signatory and resident agent 33 No. Garden Ave., Ste. 875, Clearwater FL 33755 real property
Whittier Street Health Center Frederica M. Williams, president; John D. Reardon, treasurer; Principal office @ 1125 Tremont St., Roxbury MA 02120; Williams @ Charitable activities benefiting, performing the
Realty Corporation Vianka Perez Belyea, clerk; Vernon Nelson, director; 34 Sarah St., Randolph MA 02368; Reardon @ 33 Nancy Rd., Milton MA; functions of, and carrying out the purposes of
Sean Ryan, resident agent Belyea @ 98 Centre St., Roxbury MA 02119; Nelson @ 21 Adanac Rd., Whittier Street Health Center Committee
Milton MA 02186; Ryan @ 1 Beacon St., Ste. 1320, Boston MA 02108 Incorporated, a MA non-profit corporation
Woburn Four LLC Neil Mellen, manager and signatory Principal office @ 420-424 Washington St., Woburn MA 01801; Purchase, sell, lease and develop real property
Mellen @ 460 Coe Ave., East Haven CT 06512
Echo Bridge Partners LLC Andrew DiMatteo, manager and signatory; Principal office @ 14 Riverview Terr., Dover MA 02030; Manage and invest in real estate
J. Clancy Casey, manager, signatory and resident agent DiMatteo @ 290 Bridle Trail Rd., Needham MA 02492
Russia Building TRS LLC Frank D. Burt, resident agent 800 Boylston St., Ste. 1900, c/o Boston Properties, Boston MA 02199 Own, operate, manage and develop RE
BP RB Developer LLC Frank D. Burt, resident agent 800 Boylston St., Ste. 1900, c/o Boston Properties, Boston MA 02199 Real estate
Channelside Mall Holdings LLC Edmund Byrne, signatory 265 Franklin St., 19th Floor, Boston MA 02110 Hold and dispose of real property
Spence Realty LLC Colin Charles Spence, MR, manager and resident agent 20 Emerald St., Tyngsboro MA 01879 Real estate rental and redevelopment
Homegrown Properties LLC Jane Mitchell Huston, manager, signatory and resident agent 10 Wampanoag Dr., Franklin MA 02038 Real estate acquisition, development, sale,
leasing and management
BP Atlantic Wharf Master Tenant LLC Frank D. Burt, resident agent 800 Boylston St., Ste. 1900, c/o Boston Properties, Boston MA 02199 Own, operate, manage and develop RE
BP Russia Building LLC Frank D. Burt, resident agent 800 Boylston St., Ste. 1900, c/o Boston Properties, Boston MA 02199 Real estate
continued on page 13
July 8, 2010 THE REAL REPORTER 13
Massachusetts Corporations
Organized June 29 - July 2, 2010
Corporation Directors/Registered Agents Address Nature of Business
847 Beacon Street LLC Rui Wei Li, manager and signatory; Chun Shi Liu, Principal office @ 300 Bellevue Rd., Quincy MA 02171; Ownership and development of real estate
manager, signatory and resident agent Li @ 10 Weston Ave., Apt. 425, Quincy MA 02170 and interests therein
IZZI LLC Annabelle Hunton, manager; Simon Hunton, 186 Belmont Rd., West Harwich MA 02671 Acquire, hold, sell and manage real property
manager and resident agent
41 Alpha Road LLC Mark C. Reinhold, manager and resident agent 19 Albano St., Roslindale MA 02131 Deal with real estate and interests therein
Coutu Realty LLC Robert A. Coutu, manager and signatory; A. Larry Berren, Principal office @ 183 State St., Ste. 4B, c/o McLaughlin & Quinn, LLC, Real estate
Esq., signatory; F. Moore McLaughlin, IV, Esq., resident agent Boston MA 02109; Coutu @ 57 Briar Hill Dr., Cranston RI 02921;
Berren @ 35 Highland Ave., East Providence RI 02914
39-41 Bicknell Road LLC Douglas R. Smith, manager, signatory and resident agent 11 Covington Ave., Billerica MA 01821 Buying, selling, mortgaging, leasing, construction
and otherwise dealing in real estate of every
kind, nature and description
26 Fayette Street LLC Paul G. Roiff, manager, signatory and resident agent 74 Clarendon St., Ste. A, Boston MA 02116 Deal in and with real property
NE 107 Construction GP LLC William C. MacDonald, president; Marcia L. Moody, Principal office @ 2001 Bryan St., Ste. 3250, Dallas TX 75201; Real estate development
assistant secretary and signatory MacDonald @ 6110 Executive Blvd., #315, Rockville MD 20852
BMV Realty LLC Nabil Roufail, manager and resident agent 7 Deer Run, Charlton MA 01507 Real estate
Montauk Morning LLC Cara Normandeau, manager; Brett Normandeau, 33 Carol Ln., Holyoke MA 01040 Own and manage real estate and real estate
manager and resident agent interests
Aharon Ben Rental LLC Lawrence A. Weiner, manager, signatory and resident agent 15 McGrath Hwy., Somerville MA 02143 Rent & sell electronics, appliances & house-
hold furnishings; deal with interests in RE
480 Main Street Holden LLC George P. Luddy, manager and resident agent 128 Pilgrim Dr., Holden MA 01520 Deal with real property
27 Blackberry LLC Jeffrey J. Kornick, mgr; William G. Litchfield, resident agent Principal office @ 1954 Stockbridge Rd., Akron OH 44313; Ownership and management of real property
Litchfield @ 330 Orleans Rd., North Chatham MA 02650
RMJ Dock LLC Robert H. Nixon, manager and signatory; Principal office @ 86 Beach Plum Ln., Menemsha MA 02552; Acquire, maintain, manage, improve, develop
Robert M. McCarron, signatory and resident agent McCarron @ 46 Main St., PO Box 1270, Edgartown MA 02539 and sell real and personal property
Hurren Street Inc. Gregg Croteau, president; David Brown, treasurer; Principal office @ 34 Hurd St., Lowell MA 01852; Croteau @ Own or lease & to develop real property
Richard Cavanaugh, clerk 138 Mt. Vernon St., Lowell MA 01856; Brown @ 36 Meade St., loc. at 34 and 44 Hurd St., Lowell MA for the
Lowell MA 01852; Cavanaugh @ 136 Hanks St., Lowell MA 01852 purpose of leasing or developing such property;
deal with interests in real & personal property
Jaghunt LLC James C. Jones, manager and resident agent One Central Green, Winchester MA 01890 Ownership and/or management of real estate
Millville Associates Inc. Luigi D'Arcengelo, president; Mark E. Anderson, Principal office @ 15 White Pine Dr., Brookfield CT 06804; Real estate development
registered agent MA office @ 1 Main St., Whitinsville MA 01588
433 East Third LLC Kevin Horan, mgr; Stephen Pitrowski, mgr and res. agent 512 Gallivan Blvd., Dorchester MA 02124 Real estate acquisition and development
Pearson Financial Group LLC Ginger Pearson Burke, manager; John H. Pearson, Jr., Principal office @ 10 George St., Lowell MA 01852; Burke @
manager and resident agent 10 Knob Way, Lowell MA 01852; Pearson @ 99 Belmont St., Lowell MA Investment in & dev. of RE & interests therein
Massachusetts Investment Associates LLC David M. Palumbo, manager and resident agent 40 Crescent St., Everett MA 02149 Acquire, renovate, improve, lease, build & sell RE
Cityscapes Realty Group LLC Michelle Easter, manager; Herbert Entwistle III, 595 Tremont St., Boston MA 02118 Real estate
manager and resident agent
Presidential Woods
continued from page 1
Branded as Presidential Woods, the
105,000-sf flex/office property will be
retrofitted to house a diverse mix of class-
rooms and support space, and will be the
Connecticut-based school’s fourth
Massachusetts operation.
“It’s a huge deal,” says one broker
familiar with the transaction. Even though
that industry professional insists the lease
“ is signed, definitely,” Campanelli officials
and others involved declined comment on
the matter or did not return phone calls
by press deadline. Sources say Campanelli
was represented in-house by Director of
“Tenants are feeling more comfortable in block of about 6,5 million sf is benefitting
Rising Tide their business plans and that is showing from tenants preferring modern buildings,
continued from page 1 up in some new requirements and lease he says, and has been so well received
“People are willing to commit or make an signings.” there have been rare instances of asking
expansion decision much more quickly Kerrigan and Richards Barry Joyce & rents actually going up for the most covet-
now,” he says. “We see the market going Partners VP of Research Brendan Carroll ed business addresses. The survey did not
up, not down.” both say the core markets will prove the include the newest properties because
Mid-year results delivered this week by strongest over time, although a surge of many are in their natural lease-up stage,
Grubb & Ellis research seem to support at new construction has kept vacancy rates explains Carroll, whose main conclusion is
least an easing of the unusually high in such communities as that higher-end properties in circulation
woes prevalent for sub- Waltham and Wellesley. RBJ estimates are faring well, offering hopes for a quick
urban Boston landlords. negative net absorption of 644,000 in the rebound in Route 128 Central.
Five of nine submarkets Route 128 Central submarket of 21.8 mil- Kerrigan voices a similar outlook. Even
surveyed by G&E indi- lion sf since June 2009, including a though Grubb & Ellis indicates some of
cated positive net 57,000-sf decline in Q2. Grubb & Ellis puts the hardest hit submarkets have shown
absorption through two the Q2 net absorption for that submarket gains of late, including a 123,000-sf boost
quarters, a slight yet at minus 137,000 sf for the 6.6 million sf it in net absorption for Interstate 495 West
James Lipscomb rare majority compared tracks in that submarket. through mid-year, Kerrigan says there
to past quarters dating Those numbers might indicate a long remains too much product for rents to
to late 2008. Richard road ahead, but Kerrigan says the flight- improve noticeably in fringe outposts.
Barry Joyce & Partners to-quality trend that favors core locations Buildings with stable sponsors and solid
divvies its survey into is taking hold, and the pipeline of specula- fundamentals might fare well, he says, but
seven submarkets, of tive construction has been sealed enough overall tertiary communities “face a real
which six finished posi- to foresee a dearth of space in the very tough comeback,” he says. “It’s a perfect
tive during the second near term. For tenants, he says, “the win- storm for vacancy,” he says of the difficult
quarter. Comparatively, dow is shutting,” with 2010 a prescient conditions including marginal product and
Brendan Carroll the survey showed all time to take advantage of the still-favor- weak job activity.
but one submarket finishing in the red able situation. Indeed, new age companies needing to
during the past 12 months. Carroll agrees, and cites a special RBJ attract a skilled workforce often view real
As with Kerrigan, RBJ broker James review of office space completed through- estate as a recruiting tool, and Kerrigan
Lipscomb offers an improving assessment out Greater Boston between 1994 and says that is helping spark the quality con-
from street level. “The activity has defi- 2006 that indicates a scant vacancy rate of sciousness. “We clearly are seeing a recov-
nitely picked up,” says Lipscomb. 1.9 percent for that select inventory. That ery in the stronger markets,” he says. n
$12.5 million for the 385,000-sf portfolio the average asking rent of $18 per sf is $5
Nagog Park that was divested by KBS Realty per sf less than the submarket rate.
continued from page 2 Investors. On the plus side, Acton did enjoy
ically and works well functionally. Built in Even though that team has already hit 103,000 sf of positive net absorption in the
1982 and renovated in 1999, the three- the ground running in a bid to increase first half of 2010, according to FHO
story structure features a red-brick exte- occupancy at those buildings, Pullen says Partners, faring much better than the sub-
rior and ribbon windows. There is a dra- he thinks that campaign could prove ben- market as a whole that suffered an overall
matic two-story lobby, ceiling heights to eficial to a new owner of 100 Nagog Park, decline of 177,000 sf during that period on
14 feet and crescent floorplates as large as with indications that the 120-acre campus an inventory of 31.5 million sf. Observers
75,000 sf that offer the flexibility coveted will be further improved. As it is, the park spoken to also maintain Acton has an
by tenants. Building amenities include an features wooded walking trails and land- unusual level of retail and restaurant
expansive cafeteria, modern fitness cen- scaping that provides a bucolic setting options available, and is attractive to own-
ter and shower facilities. just off Route 2A and across from Nagog ers of small- and mid-sized companies
Outside, the asset has a generous park- Pond. residing in the MetroWest area.
ing ratio of 3.4 vehicles per 1,000 sf on a Less picturesque has been the Pullen says he anticipates a strong
25-acre site at the rear of the Nagog Office Interstate 495 office market that has seen sponsor would do well keeping 100 Nagog
Park, an established campus that last rental rates plunge in the wake of Park as an office use, but adds there is the
month had nine buildings purchased by a depressed leasing demand throughout potential for ancillary uses thanks to the
partnership of Charles River Realty Greater Boston. According to FHO size of the parcel a buyer would be getting.
Investors, National Development and Partners, Acton’s inventory of 1.17 million “The possibilities are really broad,” he says,
Winrock Partners. As previously unveiled sf has a vacancy of 34.3 percent versus the noting that AvalonBay has a large multi-
by The Real Reporter, the group paid submarket average of 28.0 percent, while family complex on an adjacent site. n
Braintree paid barely $75 per sf for 300 a release issued this week.
The Real Report Crown Colony Dr., a 118,000-sf office “We’re very pleased to welcome Connie
continued from page 1 building next door to 1100 Crown Colony to CBRE/NE,” says President and Co-
to $189 per sf versus the $148 per sf paid Dr. that has since attracted a surge of ten- Managing Partner Andrew Hoar. The
by Dividend Capital. Fully leased to ants through a campaign conducted by its firm’s newest EVP “has had a highly dis-
Arbella Insurance, the four-story build- new owners and Colliers Meredith & tinguished career in the financial services
ing supposedly traded at a capitalization Grew. industry, and her knowledge of this field
rate of around 8 percent, according to one will add significant value to our Capital
analyst familiar with the terms. Sources Loan Advisor Markets platform.”
Pemmerl joins the firm from her pri-
maintain the Arbella lease rate is in the
$12-per-sf range. BOSTON — CB Richard Ellis/New vate consulting practice where she spe-
The portfolio is scattered throughout England has announced the hiring of cialized in underwriting and structuring
the US and includes a variety of flex, Connie Pemmerl to complex real estate transactions, debt
industrial and office buildings. As for the lead the group’s busi- restructuring and troubled workouts. She
local portion, one market professional ness development previously served as EVP of the commer-
spoken to was impressed by the deal on efforts with national cial real estate group for Fleet National
behalf of the buyer. “That building is banking institutions. Bank where she orchestrated the first
worth $200 per sf all day long,” says the The banking and finan- non-government sponsored bulk loan sale
expert. cial services industry by a financial institution. She has also
The deal is not, however, the only veteran will maintain a served as director of capital markets and
Crown Colony Office Park asset to Connie Pemmerl particular focus on portfolio management for Berkshire
change hands at a discount. Earlier this growing CBRE/NE’s growing loan sale Mortgage Finance and as a director of
year, the Campanelli Companies of advisory business, company officials say in debt placements at Boston Financial. n
then, too, but the financial meltdown that estate in general and stabilized product in
Retail Package set in a few months later doomed virtually particular convinced his clients that now
continued from page 1 all investment sales activity then in the is the time to resurrect the effort. C&W’s
has seemingly boosted interest. pipeline. In that draconian environment, Boston team has handled three retail sales
“It’s phenomenal,” Cushman & Chicago-based Heitman and its partner, in recent months that yielded impressive
Wakefield broker Geoff Millerd says this the California State Teachers Retirement results, providing further confidence. “It’s
week of the initial response to an asset System (CalSTERS), opted against clear things are much better now,” says
assemblage that his firm is again market- accepting a deep discount, instead decid- Millerd, who predicts a diverse con-
ing on behalf of the ing to wait for better conditions. stituency of prospects for the portfolio.
partnership. “They According to Millerd, who is handling Millerd would not discuss pricing, but
have held up extremely the sale with C&W principals Robert E. sources maintain the target will be essen-
well.” Griffin Jr. and Edward C. Maher Jr., a sun- tially the same as before, roughly from $90
Apparently someone nier disposition towards commercial real million to $100 million. n
has taken notice. Some A Distinct Audience
140 requests for infor-
Geoff Millerd
mation have already A Distinct Stand OutStand Out
Audience
been submitted, Millerd
relays, offering encouragement of a suc-
cessful outcome this time around. “Very
strong,” he says of the reaction to date.
Totaling 650,000 sf, the package includes
Massachusetts shopping centers that are
anchored by a Shaw’s Supermarket in
Cohasset, Easton, Hanover and Plymouth,
plus a Hannaford Brothers on Main Street
in Waltham. A Shaw’s anchored mall in
Warwick, RI, plus a pair of properties in
North Windham and Waterville, ME,
round out the list.
The pulling of the portfolio initially was
more a result of the dour economy than a
reflection on the properties that C&W was ads@therealreporter.com
first hired to market in 2007, explains
Millerd. Interest appeared to be solid