Real Estate Roundup: April 1, 2016

Happy Friday, readers. Here's a summary of recent transactions and personnel news within Greater Boston's real estate community.

  • The Lancaster, a 55-unit condominium complex located at 1501 Commonwealth Ave. developed by Cambridge-based Urban Spaces, has been certified LEED Gold — the first time a condo project in Boston has achieved the gold level of green-building certification, according to the developer. Urban Spaces is a Cambridge-based real estate company that develops mid-size residential and commercial projects. “We are honored to receive the LEED Gold Certification for The Lancaster,” said Paul Ognibene, the founder and CEO of Urban Spaces, in a statement. “The Lancaster has been a labor of love for us. And now to know that The Lancaster is the very first condominium in Boston to receive the Gold designation makes this project even more special for all of us who worked on it.”
  • Boston-based private real estate firm Cathartes and real estate development and contracting company Juliano Enterprises are collaborating on an $8 million redevelopment of 300,000 square feet at 83 Morse St. in Norwood. The project site is located on 18 acres just off Route 1 and spans 24 buildings. The first phase will include a 66,000-square-foot self-storage facility opening this spring as well as renovations to multiple buildings to accommodate tenants seeking between 500 square feet and 20,000 square feet.
  • Colliers International's Boston-based capital markets group has closed on the $87 million, 10-year interest-only fixed-rate refinancing of 200 Forest St. in Marlborough. The 542,000-square-foot facility is the headquarters of General Electric Co. (NYSE: GE) subsidiary GE Healthcare, which moved its U.S. headquarters from Piscataway, New Jersey in 2014, as well as the regional headquarters and blood lab facility for Quest Diagnostics. It was formerly part of the Hewlett Packard campus and has since been redeveloped by Atlantic Management Corp. into a laboratory and technology facility within Marlborough Hills. Thomas Welch and John Poole of Colliers arranged the loan with Benefit Street Partners on behalf of Atlantic Management Corp.
  • New York-based ClearRock Properties, which owns and operates offices properties across the Northeast, and Stamford, Connecticut-based Juster Properties have purchased 201-207 South St. in Boston's Leather District for $27.5 million. Jessica Hughes of JLL represented the seller, Meritage Properties, in the transaction. The 73,689-square-foot, six-story office building was built in 1909 and was recently revitalized with a full facade renovation and upgrades to the lobby and common areas. Tenants include Credo, Publisher's Clearing House, BlueConic and Evidox.
  • Life Time Athletic will open its second Massachusetts location this summer at 490 Old Connecticut Path in Framingham. The 123,000-square-foot Life Time MetroWest location will include an indoor and outdoor aquatic center, four squash courts, two regulation-size basketball courts, group exercise classes, a spa, a cafe and a dedicated "Kids Academy."
  • Campanelli Construction has celebrated the topping out of One Upland, a 262-unit luxury apartment complex in Norwood. The project is slated to be complete this fall and is being developed by Campanelli and Thorndike Development. The complex is located on 24 acres within an 82-acre Campanelli-owned campus and includes multiple outdoor pathways and walking trails, as well as amenities including a luxury clubhouse with game room, kitchen and coffee bar, a swimming pool with a sundeck, a fitness center with a virtual spin studio, an outdoor lounge with fireplace and grills and two dog parks. Campanelli and Thorndike are also developing East Main Apartments, a second luxury community, in nearby Norton.

To submit local real estate transactions for Real Estate Roundup, email Catherine Carlock at ccarlock@bizjournals.com.

Catherine Carlock covers Greater Boston's commercial real estate industry.

- See more at: http://www.bizjournals.com/boston/real_estate/2016/04/real-estate-roundup-april-1-2016.html

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