| |
News
MG FITNESS RENEWS FOR 15,000 SF AT MEDFORD’S FOODMASTER PLAZA
McKinnon of Grossman Cos. Maintains Plaza at 100% Leased
MEDFORD, MASS. (Issued FEBRUARY 2012) -- MASS. (Issued FEBRUARY 2012) -- MG Fitness, a full service health club located at 465 Salem St., in the landmark Foodmaster Plaza, has renewed its lease for 15,000 square feet.
Negotiating the lease and representing both the Landlord (469-471 Salem Street Trust) and the Tenant was Exclusive Broker Richard McKinnon, Director of Brokerage Services for The Grossman Companies, Inc., of Quincy. The 81,000 square-foot plaza, which has been 100% leased for many years, is ideally situated near the junction of Salem St. (Route 60) and The Fellsway (Route 28).
In addition to a large array of standard and state-of-the-art fitness equipment, MG Fitness offers group classes and personal training. A second facility is located in Wakefield.
Last year, McKinnon negotiated the renewal of Johnnie’s Foodmaster Supermarket, a 32,000 square-foot lease. McKinnon said the area’s demographics are a retailer’s dream, noting that a quarter million people live within three miles of the property. Other tenants include Family Dollar, Rite Aid, The Hair Cuttery, and Alexander Liquors.
The Grossman Companies, Inc., offers a full range of brokerage services, with a focus on sales and leasing of commercial property throughout New England. For more
information, call (617) 472-2000.
By Stanley Hurwitz / 508-269-0570 / stanhurw@comcast.net
MICHAEL OLSON JOINS BROKERAGE TEAM AT THE GROSSMAN COMPANIES
QUINCY, MASS. (January 2012) -- Experienced commercial real estate Broker Michael Olson has joined the Brokerage Team at The Grossman Companies, Inc.,
the Quincy-based commercial brokerage and property management firm.
The announcement was made by Richard McKinnon, the company’s Director of Brokerage Services, who said, “Mike is a great addition to our Brokerage Team.
He brings a wealth of experience and contacts throughout Greater Boston and the South Shore, and we know he will generate opportunities with a primary focus on
tenant representation.”
Olson said, “I am thrilled and honored to be working with such a well respected company. In my previous role I had the privilege of working with the Grossmans
on behalf of two of their office properties and was able to see firsthand what a smart, hardworking, and capable group of real estate professionals they are.”
Olson, a resident of Boston who earned his degree in Economics Finance from Bentley University, started his career with OneBeacon Insurance where he
assisted with the acquisition, financing, design, and build-out of the company’s 280,000 square-foot headquarters in Canton, MA.
Jacob Grossman, who manages Grossman Cos. Acquisitions said, “Mike is aggressive, entrepreneurial, energetic and honest and will be a great addition to our team.”
For the last five years Olson served in various roles with Jones Lang LaSalle, a global commercial real estate firm, including research, assisting with sales
transactions, and generating office leasing opportunities. He is a licensed real estate salesperson and is a member of the national and Massachusetts chapters of
ULI, NAIOP and REFA.
The Grossman Companies, Inc., offers a full range of brokerage services, with a focus on sales and leasing of commercial property throughout New England. For more
information, call (617) 472-2000.
By Stanley Hurwitz / 508-269-0570 / stanhurw@comcast.net
175,000 SF OFFICE DEVELOPMENT PLANNED FOR RTE. 3 AT DERBY STREET IN HINGHAM, MA
HINGHAM TECH 3 : "WHAT’S YOUR VISION?" McKINNON OF THE GROSSMAN COMPANIES IS EXCLUSIVE BROKER
HINGHAM, MA (Issued DECEMBER 2011) -- 2011) -- For just the second time in a decade, a major new office development project is being planned for Hingham, Massachusetts.
"What’s Your Vision?" Developer Robert Spenlinhauer of RJS Realty Trust is asking that question to potential build-to-suit tenants for his new Hingham Tech Park 3 or HT 3, a planned office park.
Spenlinhauer has retained the noted architectural firm Sheskey Architects of Quincy to master plan and design ‘Hingham Tech 3.’ The park has a potential build out of 175,000 square feet of first-class office space. This location is ideal for medical / research, financial services and technology companies.
HT 3 is on 9-acres of land adjacent to Route 3 at the intersection of Derby Street. For many years the site has been home to the South Shore Educational Collaborative (SSEC) which occupies the current 61,000 square-foot building.
Robert Spenlinhauer’s family, business and real estate roots in Hingham date to the 1960s. The HT 3 site was for many years the home of Spencer Press which was founded by Spenlinhauer’s father. As CFO of Spencer Press, and through a commitment to personal service and quality products, Robert helped to build the company into an industry leader that employed 900 people at its peak.
Concept plans for HT 3 call for construction of up to two first-class office buildings flanked by parking garages, plus additional ground level parking. Building ‘A’ could consist of 92,670 square feet and Building ‘B’ could consist of 82,800 square feet. While the conceptual design for the full build office park and garages would require razing the existing building, under an alternative plan the owner would consider renovating and leasing the existing 61,000 square
foot building. While at the same time develop the remainder of the park.
Richard McKinnon, Director of Brokerage Services for The Grossman Companies, Inc., of Quincy, has been named Exclusive Broker for the project.’ The space is being marketed to potential users asking "What’s Your Vision?" to emphasize that no part of the design is yet set in stone.
McKinnon says there are several attractive elements to HT 3 for prospective tenants: It is just off Route 3 at Derby St. in Hingham with over 1,100 lineal feet of frontage and direct highway signage, visible to over 150,000 vehicles per day. The property is a short distance from the upscale Derby Street Shoppes, and is easily accessible to downtown Boston and Cape Cod. He says, “Now is an ideal time for a Tenant to design their headquarters building in Hingham. A large user will have the opportunity to reserve building naming rights. This is indeed a rare opportunity.”
The Grossman Companies, Inc., offers a full range of brokerage services, with a focus on sales and leasing of commercial property throughout New England.
For more information, contact Richard McKinnon at 617-472-2000 / richmck@grossmanco.com. The company website is www.grossmanco.com.
By Stanley Hurwitz / 508-269-0570 / stanhurwitz@gmail.com
THE NEW DENTAL GROUP LEASES AT BRAINTREE EXECUTIVE PARK
McKinnon of Grossman Cos. Leases 3,805 Square Feet to Former Affiliate of Harvard Vanguard Medical
BRAINTREE, MA (issued August 2011) -- The New Dental Group, formerly affiliated with Harvard Vanguard Medical Associates, has leased 3,805 square feet
at 100 Grossman Drive, Braintree Executive Park (BEP), in Braintree, MA, off Route 3.
Making the announcement was Richard McKinnon, Director of Brokerage Services for The Grossman Companies, Inc., of Quincy, who
represented the Landlord, Braintree Executive Park LLC, and Dean Blackey, Assistant Vie President of R.W. Holmes Realty, Wayland, who represented the Tenant in lease negotiations.
Harvard Vanguard Medical Associates is a non-profit, multi-specialty medical group practice providing care to almost 495,000 adult and pediatric patients at more than 20 offices across eastern Massachusetts.
In March, The Grossman Companies announced the recapitalization of the 125,641 square-foot landmark BEP twin office buildings. Currently, in a joint venture,
Dinosaur Capital Partners and Grossman are investing $1.5 million in renovations and repositioning of the property. The investment will result in a more contemporary look for the Class A office park.
Among other businesses located at BEP are Rockland Trust Co., Manpower, American Red Cross, Tremont Credit Union, and Diageo North America.
The Grossman Companies, Inc., offers a full range of brokerage services, with a focus on sales and leasing of commercial property throughout New England.
For more information, contact Richard McKinnon at 617-472-2000 / richmck@grossmanco.com. The company website is www.grossmanco.com.
By Stanley Hurwitz / 508-269-0570 / stanhurw@comcast.net
AUDIO CONCEPTS RENEWS LEASE FOR 6,404 SF AT 870 COMMONWEALTH AVE., BOSTON
Negotiations By Richard McKinnon of The Grossman Cos.
BOSTON, MASS. (Issued JULY 2011) -- Audio Concepts, a tenant at 870 Commonwealth Ave. on the Brookline-Boston line opposite Boston University, has renewed it lease for 6,404 square feet.
The renewal was negotiated by Richard McKinnon, Director of Brokerage Services for the commercial real estate firm The Grossman Companies, Inc., of Quincy
(www.grossmanco.com). He is Exclusive Broker and represented the Landlord, 860-872 Commonwealth Avenue Trust.
Audio Concepts (www.audioconcepts.com) sells, designs, installs and repairs home entertainment systems, residential and commercial audio and video equipment, and
lighting and security systems from leading manufacturers.
McKinnon also represents neighboring commercial space consisting of 4,420 square feet in the lower level at 860 Commonweakth Avenue. The location has strong demographics, excellent visibility, heavy vehicle and pedestrian traffic, access to the MBTA Green Line, and proximity to Boston University, downtown Boston, and key highways. “This would be ideal for many types of product or service businesses, or for sales and back-office use,” he said.
Nearby neighbors include Boston University Residence Towers, John Hancock Student Village, and the Harry Agganis Sports Arena and Entertainment Complex. Other tenants in the building are East Coast Alpine, Audio Concepts, New England Electronics, and MMP Printing. For decades, the site was home to the Ski Market.
The Grossman Companies, Inc., offers a full range of brokerage services, with a focus on sales and leasing of commercial property throughout New England.
For more information, contact Richard McKinnon at 617-472-2000/ richmck@grossmanco.com. The company website is www.grossmanco.com.
By Stanley Hurwitz / 508-269-0570 / stanhurw@comcast.net
THE GROSSMAN COMPANIES AND DINOSAUR CAPITAL BUY FORMER BORDERS BOOKSTORE IN BRAINTREE, MA, FOR $4.05 MILLION
2nd Purchase for the Joint Venture in as many months
QUINCY, MASS. (Issued June 3, 2011) -- Fresh on the heels of a deeply discounted payoff of a CMBS loan secured by an office park in Braintree, MA, a joint venture of The Grossman Companies, Inc. and Dinosaur Capital Partners have closed on its secondopportunistic acquisition in Braintree in as many months, this time purchasing the former Borders Bookstore at The Marketplace at Braintree from an out-of-town owner.
Total consideration for the off-market purchase of the 27,500 square-foot store, located at 255 Grossman Drive, came to $4.05 million ($148/SF).
The Borders Group filed for bankruptcy protection in February, and the lease at the property was rejected by the bankruptcy trustee on May 18. The venture acquired all bankruptcy claims with its purchase which may further reduce its basis.
David Grossman, Head of Acquisitions at Grossman, said, “This is one of the top retail power centers in New England. We consider this irreplaceable real estate and believe our cost basis is compelling; as a result we were able to execute in an extremely tight time frame. We put the asset under contract within 48 hours of being presented the opportunity and closed less than two weeks later. It was a real team effort.” Andrew Bonica and Mike Hotarek of Eastern Retail Properties, which has been named Exclusive Leasing Agent, represented the buyer. Michael Dowley, Sean O’Brien, and Catherine
Burns of Seyfarth Shaw LLP acted as legal counsel.
Mark Dufton of Dinosaur said, “We believe it will be a highly sought-after property by either a single tenant or alternatively can be subdivided for two users.” Key anchors at The Marketplace at Braintree include Best Buy, The Sports Authority, K Mart, Babies R Us, Staples, Petsmart, and Bed Bath & Beyond. “It may be an old trope, but in retail real
estate, it’s ’location, location, location’ and this asset represents one of the best locations for retailers in New England,” said Scott Oran of Dinosaur.
The Marketplace at Braintree is ideally situated at the junction of Route 3 and Union Street, near the Route 93 interchange. It is near the MBTA’s Red Line and Commuter Rail stations and offers ample free parking. The retail plaza comprises 35 acres and
was formerly the site of the signature lumber yard and corporate headquarters for Grossman’s Lumber, one of the first home improvement chains in the U.S. The family sold the chain in 1969.
With a bit of irony and in a tribute to the history of the site, David Grossman noted that the entity purchasing the Borders property has been named Here Comes There Goes, LLC. Many New Englanders will recall that slogan on the front and back of orange
Grossman’s Lumber delivery trucks.
Louis Grossman, President of The Grossman Companies, said “This asset is an excellent addition to our portfolio. We were able to capitalize on our ability to move quickly and structure a deal that worked for both buyer and seller. We are equally excited about expanding our joint venture relationship with Scott and Mark at Dinosaur.”
This is the second joint venture in as many months for the two firms. In May, Grossman partnered with Dinosaur in the $6.9 million discounted loan payoff of the adjacent Braintree Executive Park, twin first-class office buildings consisting of 125,641 square
feet at 100 and 150 Grossman Drive. The investors are spending $1.5 million to renovate and reposition those buildings.
For more information, contact David Grossman: 617-472-2000 / david@grossmanco.com. The company website is www.grossmanco.com.
By Stanley Hurwitz / 508-269-0570 / stanhurw@comcast.net
McKINNON OF THE GROSSMAN COS. IS EXCLUSIVE AGENT FOR 11,000 SF AT KINGSTOWN PLAZA IN NORTH KINGSTOWN, RI
Available January 1, 2012
2,600 SF Unit Available October, 2011
NORTH KINGSTOWN, RHODE ISLAND (ISSUED JUNE 2011) -- Prime retail space of 11,000 square feet will become available in the Fall of 2012 at the busy
Kingstown Plaza at 6647 Post Road (Rte. 1A) in North Kingstown, RI.
The announcement was made by Exclusive Broker, Richard McKinnon, Director of Brokerage Services for The Grossman Companies, Inc., of Quincy, Mass. Also available is a 2,613 square-foot retail unit at the plaza. McKinnon represents the Landlord, Kingstown Plaza Limited Partnership.
The 88,000 square-foot Kingstown Plaza with 675 feet of frontage on Rte. 1A, is anchored by TJ Maxx, HomeGoods and Dollar Tree. Daily more than 25,000
vehicles travel Post Road. The plaza is a short distance from Route I-95.
In keeping with a national cost-cutting plan announced last December, TJ Maxxis reducing its North Kingstown footprint by 11,076 square feet. The store will retain
nearly 26,000 square feet. TJ Maxx also operates the adjacent HomeGoods with about 26,000 square feet. Both have been Kingstown Plaza tenants for many years.
Among other tenants are Lucky Nails, Pier Pizza, Critter Hut, Curves for Women, Exotic Tans, The Talent Factory, Sovereign Bank and Weight
Watchers. The tenant mix draws shoppers from South and Washington Counties and beyond. Nearby historic sites and beaches attract tourists, adding seasonal customer
traffic.
The Grossman Companies, Inc., offers a full range of brokerage services, with a focus on sales and leasing of commercial property throughout New England.
For more information, contact Richard McKinnon at 617-472-2000 or visit www.grossmanco.com.
By Stanley Hurwitz / 508-269-0570 / stanhurw@comcast.net
JOHNNIE’S FOODMASTER SUPERMARKET RENEWS FOR 32,000 SF AT FOODMASTER PLAZA IN MEDFORD
2nd Purchase for the Joint Venture in as many months
MEDFORD, MASS. (Issued JUNE2011) -- The renewal of Johnnie’s Foodmaster Supermarket’s 32,000 square-foot lease at Medford’s Foodmaster Plaza at 469 – 471 Salem St. (Route 60) at The Fellsway (Route 28) maintains the plaza’s 100% occupancy.
The announcement was made by the Exclusive Broker for the plaza, Richard McKinnon Director of Brokerage Services for The Grossman Companies, Inc., of Quincy. McKinnon, who negotiated the renewal, noted that the plaza’s tenant mix and the area’s excellent demographics have helped to keep the 81,000 square-foot plaza fully leased. “We have been fortunate to hold steady despite the challenging economy,” he said.
Other tenants at Foodmaster Plaza include Family Dollar, Rite Aid, Mike’s Gym, The Hair Cuttery, and Alexander Liquors. A quarter million people live within three miles of the property.
Founded in 1947, Johnnie’s Foodmaster (www.foodmasterinc.com) operates 11 stores in Greater Boston and attributes its success to offering the freshest foods, first-rate
customer service, and dedication to the communities they serve.
The Grossman Companies, Inc., offers a full range of brokerage services, with
a focus on sales and leasing of commercial property throughout New England.
For more information, Richard McKinnon at 617-472-2000 or e-mail richmck@grossmanco.com , or visit www.grossmanco.com.
By Stanley Hurwitz / 508-269-0570 / stanhurw@comcast.net
N. E. Mechanical Contractors Association (NEMCA)Leases HQ Space at Quincy’s Willard Building
McKinnon of Grossman Cos. Leases 1,721 SF
QUINCY, MASS. (Issued JUNE 2011) -- The New England MechanicalContractors Association (NEMCA) has leased space for its offices at 1266 Furnace
Brook Parkway (The Willard Building) in Quincy (Mass.)
The organization (www.nemca.org) leased 1,721 square feet. It represents commercial and industrial heating, ventilation, air conditioning, and process
piping contractors in Massachusetts, Maine and Rhode Island, relocated from Hingham.
The announcement was made by Richard McKinnon, Director of Brokerage Services for The Grossman Companies, Inc., of Quincy, who handled negotiations for the
1,721 square-foot lease.
General contractors, developers, architects, owners, engineers, consultants, and manufacturers: For more than 100 years, the New England MCA has supported
its contractors by providing resources such as workshops, seminars, conferences,government relations, labor relations, and marketing campaigns.
The Willard Building is home to a variety of professional services firms including law and CPA firms, financial advisors, and real estate management and development
companies, among others.
A total of 4,119 square feet is available in the building. It is subdividable.
For leasing information contact Richard McKinnon at 617-472-2000 or e-mail richmck @grossmanco.com.. The company website is www.grossmanco.com.
The Grossman Companies, Inc., offers a full range of brokerage services, with a focus on sales and leasing of commercial property throughout New England.
By Stanley Hurwitz / 508-269-0570 / stanhurw@comcast.net
T.J. MAXX RENEWS LEASE FOR 29,615 SF AT QUINCY GRANITE PLACE
Busy Plaza Maintains 100% Occupancy
QUINCY, MA (Issued MAY 2011) -- T.J. Maxx, the anchor store at Quincy Granite Place, a destination retail plaza near Quincy Center, has renewed its lease for 29,615 square feet. The clothing store was an original tenant when the plaza opened in 2000.
Lease negotiations were handled by Richard McKinnon, broker for The Grossman Companies, Inc., (www.grossmanco.com) who represented the landlord, 126
Granite Street Trust. The plaza, which continues to be 100% leased, is managed by Grossman.
Anchored by T.J. Maxx, the 61,400 square-foot retail center is also home to iParty,
Dress Barn, Olympia Sports, Papa Gino’s, Boston Market and Dunkin
Donuts. Located at the intersection of Granite Street and Burgin Parkway, the plaza
accommodates a high-density residential population and a daytime office population as
it is just minutes from Crown Colony Office Park and several other office complexes. It is
a block from downtown Quincy.
TJ. Maxx (www.TJX.com) operates over 900 stores nationwide and sells discounted
brand-name family apparel, home fashions, beauty aids, jewelry and accessories.
Based in Quincy, Mass., The Grossman Companies, Inc., offers a full range of brokerage
services, with a focus on leasing and sales of commercial property throughout New
England.
For more information, call 617-472-2000, email richmck@grossmanco.com or visit www.grossmanco.com.
By Stanley Hurwitz, stanhurw@comcast.net
THE GROSSMAN COMPANIES, INC., RECAPITALIZES
LANDMARK BRAINTREE EXECUTIVE PARK
FOR $6.9 MILLION
Owners to Renovate, Reposition 125,641 SF Office Buildings
BRAINTREE, MASS. (Issued March 31, 2011) -- Following a year of complex negotiations with the loan special servicer, The Grossman Companies, Inc., the Quincy-based commercial real estate firm, has closed on the discounted payoff of an existing
$14.3 million CMBS loan on Braintree Executive Park in Braintree, Mass. The purchase price was $6.9 million, or $55 per square foot, just under 50% of the loan amount.
Over the next twelve months, armed with a low cost basis and recapitalization, the company plans to create a Class A office park for South Shore tenants with a $1.5 million renovation and repositioning of the 125,641 square-foot landmark twin office buildings
located just off Route 3.
Company President Louis Grossman said, “Braintree Executive Park is a first-class office address that had been impacted by the economic recession. Although historically fully occupied, when two major tenants representing 40% of the park both downsized and
relocated last year, it became clear that the cash flow would not support the debt service. We saw an opportunity to enter into a good-faith negotiation with the special servicer to acquire the property at a substantial discount. We are committed to the South Shore and are excited about the planned repositioning of the property.”
David Goldfisher of the Henley Group advised the company in its DPO negotiations, and Tom Welch of Colliers has been hired to arrange new debt financing. Grossman will joint venture on the repositioning with Dinosaur Capital Partners, the Boston real estate investment firm run by industry veterans Mark Dufton and Scott Oran.
The buildings, at 100 and 150 Grossman Drive, were built in two phases between 1987 and 1989 by The Grossman Companies, Inc., in a joint venture partnership with UNUM. In 2001, JP Morgan Partners, in partnership with Grossman and its affiliates,
purchased the property for $20 million. JPMorgan Partners will not participate in the recapitalization.
The Grossman Companies’ Director of Acquisitions and Finance, David Grossman, said, “This is a game-changer for us. We had been hamstrung during the last twelve months by the debt situation at the property and unable to aggressively reach out to the
brokerage and tenant community. This re-set in basis combined with the substantial capital improvement program will help us return the buildings to fully occupied Class A office space, which is what they have been since my grandfather and father built them
in the late ’80’s.” The well-appointed 4-story buildings offer first-class amenities in a suburban setting, including 394 parking spaces, with easy highway access and excellent visibility. The property is at the Union Street exit of Route 3, near the Braintree MBTA Station with Red Line and commuter rail stops.
Louis Grossman says the property’s 40% vacancy rate, due to the loss of two long-time tenants, will allow the company to reposition the buildings to meet the needs of new and existing tenants. In fact, he already is seeing some bright spots in the region’s commercial real estate market, pointing to several recent new leases at Braintree Executive Park with the Building Trade Employers’ Association of Boston and Eastern Massachusetts, Inc. (BTEA), Forward Advantage, American Red Cross, Resource
Nation, and renewals with Rockland Trust Company which also expanded, Genworth, Harvard Vanguard, and Bank of America.
And David Grossman said that after a five-year hiatus, The Grossman Companies, Inc., is pursuing other acquisitions. “Thankfully, we had not been an active investor during the last five years. As a result, we have no legacy issues and are very well-capitalized.
That, coupled with the uptick in the local economy as well as more showings and leasing in our own portfolio, give us confidence about economic growth prospects, not only at Braintree Executive Park, but in the region and we are now actively pursuing acquisition
opportunities.“
Following the financial crisis of 2008 and plunging real estate values, industry experts predicted a wave of discounted loan payoffs (“DPO”s). The reality has been different as borrowers have found lenders slow to recognize and accept new market realities. Louis Grossman says it took an experienced team with great patience to get the lender to agree to a DPO. “It is a delicate dance that requires tact, tenacity and a well-capitalized sponsor to bring a lender to the table and keep him there long enough to consummate
a transaction that makes sense for both parties. Our Braintree Executive Park DPO experience is invaluable and we hope to work with other borrowers and lenders to reach similar mutually beneficial outcomes.”
Exclusive Broker for Braintree Executive Park is Richard McKinnon, The Grossman Companies’ Director of Brokerage Services.
For more information, contact David Grossman: 617-472-2000 / david@grossmanco.com. The company website is www.grossmanco.com.
By Stanley Hurwitz / 508-269-0570 / stanhurw@comcast.net
$8.95 S/F NEW YEAR SPECIAL
LANDLORD OFFERS BELOW-MARKET RENT
ON AIR FREIGHT SPACE NEAR LOGAN AIRPORT
McKinnon of Grossman Cos. Is Exclusive Agent for 16,175 SF$
BOSTON, MASS. (Issued January 2011) -- For a limited time, the Landlord of one of the closest air freight / logistics facilities to Boston’s Logan Airport is offering a New Year special – a below-market rate lease rate of $8.95 per square foot for space that rarely comes on the market.
According to Richard McKinnon, Brokerage Director for The Grossman Companies, Inc., Exclusive Broker representing the Landlord, 310 McClellan Highway LLC, “This is a unique opportunity, as it’s the first time this space has become available in 20 years.” The prior tenant, Agility Global Integrated Logistics, a provider of supply chain solutions, moved and expanded next door at 290 McClellan.
The 310 McClellan building consists of 16,175 square feet, including 5,400 square feet of office space on two floors. The property has 13 tailboards, a drive-in loading dock and ample paved areas. Ceilings are 18’ clear.
For leasing information contact Richard McKinnon at 617-472-2000; richmck@grossmanco.com. The company website is www.grossmanco.com. The Grossman Companies, Inc., offers a full range of brokerage services, with a focus on sales and leasing of commercial property throughout New England.
- By Stanley Hurwitz
stanhurw@comcast.net
ATTN: Editor: For electronic images, please contact Cathy at 617-472-2000 /catherine@grossmanco.com.
HARVARD VANGUARD MEDICAL ASSOCIATES
RENEWS AT BRAINTREE EXECUTIVE PARK
BOSTON, MASS. (Issued NOVEMBER 2010)Two retail units have become available at one of Boston’s high-profile locations.
Richard McKinnon, Director of Brokerage Services for The Grossman Companies, Inc. of Quincy, has been named Exclusive Broker for retail space at 860
Commonwealth Ave., (the landmark former Ski Market Building) on the Brookline-Boston line opposite Boston University. The location has continuous heavy pedestrian and vehicle traffic and highly desirable demographics.
McKinnon says the 6,200 square foot street-level retail unit, the prior home of a large mattress retailer, is ideal for just about any product or service concept. The lower level, leased for decades by Ski Market, consists of 10,000 square feet, is subdividable, and
would be ideal for a gym / fitness center, showroom, or for back offices, he says.
The Commonwealth Ave. location provides excellent visibility and is on the MBTA Green Line. Nearby are the Boston University Residence Towers, John Hancock Student Village, and the Harry Agganis Sports Arena and Entertainment Complex. B.U. enrolls over 31,000 students The location is convenient to Storrow Drive, the Mass. Pike and downtown Boston Half the building is in Brookline, which offers great demographics.
Other tenants in the building include Audio Concepts, East Coast Alpine, and MMP Printing.
The Grossman Companies, Inc., offers a full range of brokerage services, with a focus on sales and leasing of commercial property throughout New England. For more information, contact Richard McKinnon at 617-472-2000 or richmck@grossmanco.com
- By Stanley Hurwitz
508-269-0570
HARVARD VANGUARD MEDICAL ASSOCIATES
RENEWS AT BRAINTREE EXECUTIVE PARK
BRAINTREE, MASS. (Issued OCTOBER 2010) -- Harvard Vanguard Medical Associates, Inc., a multi-specialty medical group practice delivering health and wellness services throughout Greater Boston, has renewed its lease for 2,818 square feet at 150 Grossman Drive, Braintree Executive Park, in Braintree (Mass.)
Representing Harvard Vanguard and the Landlord, Braintree Executive Park LLC, in lease negotiations was Exclusive Broker Richard McKinnon, Director of Brokerage Services for The Grossman Companies, Inc., of Quincy
Braintree Executive Park, two buildings at 100 and 150 Grossman Drive, offer first-class amenities in a suburban setting, with easy highway access and excellent visibility. The office is conveniently located off of the Union Street exit of Route 3 and across the street from the Braintree T stop.
Among other long-time Braintree Executive Park tenants are Bank of America, Quadgraphics, Rockland Trust Co., Tremont Federal Credit Union, Strategic Staffing Solutions, and Manpower International, to name a few.
McKinnon says there are several first-class office suites available for lease in the
buildings from 1,400 – 20,000 square feet.
The Grossman Companies, Inc., offers a full range of brokerage services, with a focus on sales and leasing of commercial property throughout New England. For more information, contact Richard McKinnon at 617-472-2000 or richmck@grossmanco.com
- By Stanley Hurwitz
508-269-0570
BROKERAGE FIRM SCOTTRADE LEASES
AT THE RESIDENCES AT MUNROE PLACE
1,584 SF Lease Brings Retail Shops to 100% Occupancy
QUINCY, MASS. (Issued August 2010)-- With the recent lease of 1,584 square feet to Scottrade, Inc., a national brokerage firm, the Retail Shops at The Residences at Munroe Place in Quincy Center (Mass.) is 100% occupied. This is the first time the five retail units have been fully leased.
Representing the Landlord, Munroe Place LLC, in lease negotiations was Richard
McKinnon, Director of Brokerage Services for The Grossman Companies, Inc., of Quincy.
Peter Montisanto of The Dartmouth Group represented Scottrade.
Other retail tenants at The Residences at Munroe Place are Starbucks, Citi Financial, T
Mobile and Market USA. The shops are on the street level of a 111-unit luxury apartment
building adjacent to the MBTA’s Quincy Center Red Line and Commuter Rail station.
The Residences is in the heart of Quincy’s historic downtown and within walking
distance of over 600,000 square feet of office space.
The Grossman Companies, Inc., offers a full range of brokerage services, with a focus on sales and leasing of commercial property throughout New England. For more information, contact Richard McKinnon at 617-472-2000 or richmck@grossmanco.com
- By Stanley Hurwitz
508-269-0570
ROCKLAND TRUST RENEWS, EXPANDS AT BRAINTREE EXECUTIVE PARK
McKinnon of Grossman Cos. Represents Tenant and Landlord at 150 Grossman Drive
BRAINTREE, MASS. (Issued APRIL 2010) -- Rockland Trust Company is renewing its lease and expanding its footprint at 150 Grossman Drive, Braintree Executive Park, in Braintree, Mass. The addition of 2,716 square feet brings the bank’s space in the building to a total of 7,068 square feet.
According to Richard McKinnon, Director of Brokerage Services for The Grossman Companies, Inc., of Quincy who represented the tenant and landlord in lease negotiations, Braintree Executive Park LLC, 100 and 150 Grossman Drive are also home to several other high-profile financial services tenants including Safety Insurance, Great American Insurance Co., Genworth Mortgage, Tremont Credit Union, and Icon Capital.
Among other tenants are Manpower International, Strategic Staffing Solutions, Diageo North America, Icon Capital Corp., and Harvard Vanguard Medical Associates.
Braintree Executive Park consists of twin mirror-image first-class office buildings at 100 and 150 Grossman Drive adjacent to K-Mart Plaza off Route 3. The buildings offer high quality interior finishes and are within walking distance to the MBTA Red Line / Commuter Rail station. Other attractions include easy highway access and numerous nearby restaurants, stores and hotels. There are eight first-class office suites available in the buildings from 1,900 – 20,000 square feet.
A subsidiary of Independent Bank Corp., Rockland Trust operates 70 branches and 12 Commercial Lending Centers in Eastern Massachusetts and Cape Cod. It is a full-service community bank some $4.5 billion in assets.
The Grossman Companies, Inc., offers a full range of brokerage services, with a focus on sales and leasing of commercial property throughout New England. For more information, contact Richard McKinnon at 617-472-2000 or richmck@grossmanco.com
Written by Stanley Hurwitz
McKINNON OF GROSSMAN COS. REPRESENTS NEW ENGLAND ORGAN BANK IN 40,625 SF LEASE
QUINCY, MASS. (Issued October 2009) The New England Organ Bank has leased 40,625 square feet at the Waltham Tech Center at 60 First Ave., Waltham, Mass.
The announcement was made by Richard McKinnon, Director of Brokerage Services for
The Grossman Companies, Inc., of Quincy, who represented the Tenant, and by Michael
B. Wilcox of The Bulfinch Companies, Inc., who represented the Landlord.
Waltham Tech Center, just off Route 128/95 offers state-of-the-art office, lab and
operating facilities designed to meet NEOB’s unique needs. The building was recently
renovated and repositioned by Bulfinch.
The New England Organ Bank is the oldest independent organ procurement
organization in the U.S. and is federally designated to serve most of New England and
Bermuda. NEOB serves 12 transplant centers and allocates organs for transplant through
the United Network for Organ Sharing’s national network. (For more information, see
www.neob.org).
The Grossman Companies, Inc., offers a full range of brokerage services, with a focus on sales and leasing of commercial property throughout New England. For more information, contact Richard McKinnon at 617-472-2000 or richmck@grossmanco.com
- By Stanley Hurwitz
508-269-0570
|
