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Your Source for Commercial Real Estate News
THIS WEEK’S ISSUE
The Real Reporter
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More Nagog . . . . . . . . . . . . . . . . . . . 2
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...............3
Entrepreneur for Life. . . . . . . . . . . . . . 4
Mass Millions . . . . . . . . . . . . . . . . . . 5
Russia Espied . . . . . . . . . . . . . . . . . 12
THE REAL REPORT
Quincy Quarry
1100 Crown Colony Dr., Quincy MA
QUINCY — What a difference a
decade can make.
Heaped among a national package
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
million, providing a healthy discount
for the new ownership. Dividend
Capital Total Realty Trust of
Denver secured the portfolio of 9.9
million sf that was listed by Holliday
Fenoglio Fowler on behalf of iStar
Financial, paying just over $130 per
sf for the assets.
The 132,000-sf Quincy property
had been purchased by iStar prede-
cessor TriNet Properties for $25
million in June 1998. That amounts
continued on page 17
ofni DI etaroproc retropeR laER ehT
moc.retroperlaereht.www :etisbew
moc.retroperlaereht@kcabdeef :tcatnoc JULY 8, 2010
Presidential Woods Gets the Vote
For New 105,000SF Career Center
BY JOE CLEMENTS
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.
and Commonfund Realty.
continued on page 14 8 Presidential Way, Woburn MA
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
Heitman and a California pension fund
again try to find a taker in the $100 million
range. Still at 98 percent occupancy, the
portfolio’s resiliency through the crash
Shaw’s Plaza, Hanover MA continued on page 17
Rising Tide Lifting the Better Boats
BY JOE CLEMENTS “You feel it, you hear it, you see it getting
W
ALTHAM—Suburban office build- stronger everyday.” The veteran broker
ings still face a prolonged convales- sounds substantially more upbeat than he
cence from the economic malaise did during a 2010 forecast last December
that has ravaged landlords nationally, but when he fretted the difficulties could
after spending nearly two years linger into next year. But for var-
flat on their backs, that con- ious reasons, the pace quickened
stituency is finally moving noticeably in the second quarter,
towards a recovery at the local says Kerrigan, whose own firm
level, according to industry just negotiated a quintet of deals
experts spoken to this week. filling nearly 40,000 sf at the
“There’s a bit of lift in the mar- Waltham Watch Factory on
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

Lehman Hires CBRE/NE to Sell 100 Nagog Park

BY JOE CLEMENTS

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

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July 8, 2010 THE REAL REPORTER 3

Back Bay Office Landmark Fills 50,000SF

B
OSTON—Owner Ruben Companies
has recently executed lease transac-
tions for a total of 50,025 sf of first
class office space at One Exeter Plaza, a
signature office building in the heart of
Boston’s Back Bay. The agreements
include International Data Group for
15,451 sf; the Consulate General of
Portugal signing for 5,925 sf; Rapid7 leas-
ing 5,825 sf; Stax Inc. taking 5,475 sf and
the Alosa Foundation filling 5,300 sf.
Jones Lang LaSalle is exclusive leasing
agent for One Exeter Plaza.
“We are pleased with the high quality
of these new tenants, who join our already
impressive roster,” says Ruben Cos. princi-
pal Jonathan Yormak in a press release
announcing the completions. JLL
Managing Director William Motley, SVP
Brad McGill and Assistant VP Katherine
Small served as brokers representing the
landlord.
On the tenant side, Richards Barry
Joyce & Partners represented IDG. UGL
Equis negotiated for the Consulate
One Exeter Plaza, Boston MA
General of Portugal and CBRE/New
England represented Rapid7. Stax was
advised by JLL SVP Peter Bekarian and
Associate Patrick Nugent, while Casler
and Co. acted on behalf of Alosa
Foundation.
One Exeter Plaza is a 15-story mid-rise
building located on the corner of Boylston
and Exeter Streets, one block from Copley
Square. It features a new three-story mar-
ble lobby, refurbished tenant lobbies, and
upgrades to the elevators and restrooms.
Other features cited by the brokers
include panoramic views of the city sky-
line and Charles River, an efficient and
flexible office layout with floor plates of
14,700 sf, and on-site property manage-
ment services provided by the Ruben Cos.
Other tenants of the building include
Disney/ABC, Cornerstone Research and
Wells Fargo. In the wake of the recent
leasing effort, One Exeter Plaza has about
30,000 sf available in increments from
1,400 sf to 14,875 sf. Besides the proper-
ty’s physical attractions, McGill credits the
ownership for enabling the brisk activity
even in a market which has suffered from
the recession. “Ruben Cos. has been
rewarded for outstanding management,
continued on page 14

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:

Mark Carangelo Bob Conrad & Paul McCourt Dan Sullivan

Equitable Real Estate Solutions The Conrad Group, Inc. CresaPartners LLC
12,072 SF 4,192 SF 2,173 SF

Owned & managed by:

JAMES L. ELCOCK DAVID B. GOODHUE CALEB W. HUDAK

617.330.8020 617.330.8082 617.330.8018
james.elcock@colliersmg.com david.goodhue@colliersmg.com caleb.hudak@colliersmg.com

Colliers Meredith & Grew | 160 Federal Street | Boston, MA 02110 | www.colliersmg.com
4 THE REAL REPORTER July 8, 2010

Attorney Maria J. Krokidas

An Entrepreneur of the Years
BY JOE CLEMENTS they have been operating.

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

MORTGAGE: $2,300,000 from Wellesley

Bank
ADDRESS: 12 Baltimore Rd., Lots 249 and
250, Nantucket
BORROWER: Carroll Advertising Co.

BUYER: Lifei Guo and Trudy D. Pang

SELLER: University of Pennsylvania*
PRICE/ADDRESS: $2,072,000; 26 Monmouth
St., Brookline
MORTGAGE: $1,500,000 from Bank of
America NA
NOTES: Single-family Colonial, built 1980;
house size is 4,450 sf, lot size is 18,300 sf; six
bedrooms, four baths and two half-baths;
*granted to the Trustees of the University of
Pennsylvania for $1 in March 2010 by Anne C.
Gamble and Walter J. Gamble; prior sale
occurred in June 1961; Declaration of
Homestead
BUYER: James Shea and Jennifer Shea
SELLER: Arun N. Shastri and Kalpakam A. Shastri
PRICE/ADDRESS: $1,600,000; 23 Bay State
Rd., Lot 6, Wellesley
MORTGAGE: $300,000 from MetLife Bank
NOTES: Single-family Colonial, built 1950;
house size is 3,250 sf, lot size is 17,975 sf; five
bedrooms and 4.5 baths; last sold for
$1,590,000 in Dec. 2007
BUYER: Adam M. Hirsch and Rachel H. Hirsch
SELLER: Courtney L. Koenig, trustee of 50
Commonwealth Condominium
PRICE/ADDRESS: $1,525,000; 50
Commonwealth Ave., U-704 and 705, Boston
MORTGAGE: $1,000,000 from Boston
Private Bank & Trust Co.
NOTES: Residential units in eight-story condo-
minium property; U-704 size is 1,200 sf; two
bedrooms and two baths; U-705 size is 850 sf;
two bedrooms and one bath; units last sold
together for $1,525,000 in Aug. 2006
BUYER: Cartus Financial Corp.
SELLER: Andrew H. Park and Carole J. Park
PRICE/ADDRESS: $1,445,000; 70 Warren
Ave., Lot A, Harvard
NOTES: Single-family, built 2004; house size is
3,650 sf, lot size is one acre; four bedrooms,
four baths and two-half baths; property last
sold for $374,000 in Feb. 2004
An 87-year-old residence just outside Newton Corner has changed hands for $1,100,000, with Sylvia W.
Kaufman divesting the 3,200-sf Colonial at 61 Concolor Ave. owned since June 1989. The purchase by
Christopher C. Mitchell and Daphne Koinis Mitchell was enabled by $770,000 in financing from Salem
Five Mortgage Co. The couple’s new address features three bedrooms and three baths on a lot of near-
ly one-half acre.
BUYER: Andrea Medved and Janos Rohaly BUYER: Lisa W. Simon and Michael D. Simon
SELLER: Anne M. DeSilva and Rajiv K. DeSilva SELLER: Joseph T. Flueckiger, trustee of A.J.
PRICE/ADDRESS: $1,365,000; 786 Realty TR
Strawberry Hill Rd., Concord PRICE/ADDRESS: $1,125,000; 70 Briarwood
MORTGAGE: $417,000 from Amerisave Cir., Lot 13, Needham
Mortgage Corp. MORTGAGE: $417,000 from Needham Bank
NOTES: Single-family Colonial, built 1993; NOTES: Single-family Colonial, built 2008;
house size is 4,800 sf, lot size is 2.5 acres; five house size is 4,225 sf, lot size is 20,200 sf;
bedrooms and 4.5 baths; last sold for five bedrooms and 4.5 baths; property last sold
$1,475,000 in Aug. 2007 for $500,000 in Sept. 2007
BUYER: Mark Baglin and Rachel Bloom Baglin BUYER: Fernando J. Patz and Katherine E. Patz
SELLER: GRSW Stewart Real Estate TR and SELLER: Charles W. Lowney and Irene M.
Graebel Relocation Services Worldwide Inc. Lowney
PRICE/ADDRESS: $1,250,000; 171 Greystone PRICE/ADDRESS: $1,092,000; 1362 Canton
Ln., Sudbury Ave., Lot B and 3B, Milton
MORTGAGE: $800,000 from Wells Fargo Bank MORTGAGE: $873,600 from Sovereign Bank
NOTES: Single-family Colonial, built 1993; NOTES: Single-family Colonial, built 1964;
house size is 4,525 sf, lot size is 40,000 sf; house size is 6,725 sf, lot size is 2.7 acres; five
four bedrooms and 3.5 baths; last sold for bedrooms and 3.5 baths
$1,250,000 in May 2010; Declaration of
Homestead BUYER: Barbara Kaplan and Benjamin Kaplan
SELLER: James Abraham
MORTGAGE: $1,215,000 from ING Bank PRICE/ADDRESS: $1,050,000; 350 Boylston
FSB St., U-301, Newton
ADDRESS: 6 Clay Pit Rd., Aquinnah MORTGAGE: $500,000 from Harold C.
BORROWER: Jennifer J. Born and Matthew T. Garnick
Born NOTES: Residential condominium in the
Residences at Chestnut Hill; unit size is 2,650
MORTGAGE: $1,168,750 from Dedham sf; two bedrooms and 2.5 baths; last sold for
Institution for Savings $1,199,000 in May 2004; Declaration of
ADDRESS: 31 Vine Brook Rd., Lexington Homestead
BORROWER: Jalan LLC continued on page 7
July 8, 2010
Residential Deals
MILLION DOLLAR MORTGAGES/SALES JUNE 29 - JULY 2, 2010
continued from page 6
J U LY 1 S T
MORTGAGE: $3,800,000 from Reading Co-
Operative Bank
ADDRESS: 14 and 34 Brickyard Rd., Chilmark
BORROWER: Preston G. Harris, trustee of Great
Rock Bight LP and Great Field Nominee TR
BUYER: Christine J. Galls and Rainer G. Galls
SELLER: Cassandra H. Irvine, trustee of 4-5
Arlington Street Condominium
PRICE/ADDRESS: $3,150,000; 4-5 Arlington
St., U-6, Boston
MORTGAGE: $1,600,000 from Bank of America NA
NOTES: Residential unit in six-story condomini-
um building; unit size is 2,550 sf; three bed-
rooms and three baths; last sold for $3,250,000
in Feb. 2009; Declaration of Homestead
BUYER: Patrick McWhinney
SELLER: C. Todd Boes and Julie B. Boes
PRICE/ADDRESS: $2,400,000; 3 Acorn St., Boston
MORTGAGE: $1,920,000 from HSBC
Mortgage Corp.
NOTES: Single-family brick Row house style;
house size is 2,125 sf, lot size is 825 sf; four
bedrooms and 3.5 baths; last sold for
$1,000,000 in Feb. 1998
BUYER: Christian A. Abouzeid and Kathleen A.
Crowley
SELLER: Margaret Louise Lazarus and Renner
Wunderlich, trustees of 35 Cedar Road Nominee TR
PRICE/ADDRESS: $1,695,000; 35 Cedar Rd.,
Belmont
NOTES: Single-family Victorian, built 1898;
house size is 2,775 sf, lot size is 19,975 sf; five
bedrooms and 3.5 baths; property last sold for
$430,000 in April 1991
BUYER: Joanna C. Levitan and Richard A. Levitan
SELLER: Joanne S. Gill and Thomas D. Gill
PRICE/ADDRESS: $1,662,500; 263 Adams
St., Lot 1, Milton
MORTGAGE: $1,237,500 from BNY Mellon NA
NOTES: Single-family, built 1987; house size is
4,950 sf, lot size is 40,036 sf; four bedrooms and
three baths; last sold for $910,000 in Aug. 1988
BUYER: Julia B.P. Coelho and Vivaldi Coelho
SELLER: Pirooz Ehsassi and Rosemary Ehsassi
PRICE/ADDRESS: $1,645,000; 716 Newton
St., Brookline
MORTGAGE: $1,200,000 from CitiMortgage
NOTES: Single-family Colonial, built 2008;
house size is 3,500 sf, lot size is 21,075 sf;
four bedrooms and three baths; property last
sold for $622,000 in Sept. 2008
THE REAL REPORTER
Bank of America has provided $1,280,000 in financing to Darren A. Bovie and Patricia L. Bovie for their
$1,600,000 purchase of 7 Hamilton Rd. in Wellesley. The new single-family Colonial has four bedrooms and
encompasses 4,800 sf. It was developed by Elmrock LLC, a Natick-based entity managed by David Zaltas.
BUYER: Rachel Glennerster and Michael R. Kremer
SELLER: Joan L. Stein and Robert J. Stein
PRICE/ADDRESS: $1,487,500; 227 Aspinwall
Ave., Brookline
MORTGAGE: $670,000 from Sara L. Kremer
NOTES: Two-family Victorian, built 1885; living
space is 4,375 sf, lot size is 6,325 sf; last sold for
$60,000 in Sept. 1978; Declaration of Homestead
BUYER: George J. Kimball and Marilyn A. Kimball
SELLER: Catherine S. Parshley and Paul C. Parshley
PRICE/ADDRESS: $1,365,000; 7 Hampton
Rd., Lexington
MORTGAGE: $650,000 from William F.
Smith
NOTES: Single-family, built 1987; house size is
4,725 sf, lot size is 30,300 sf; five bedrooms
and 4.5 baths; last sold for $871,000 in May
1999; designed by architect Robert A.M. Stern
BUYER: Douglas A. Zingale and Frances F. Zingale
SELLER: Kathryn A. Herold
PRICE/ADDRESS: $1,300,000; 48 Plympton
Rd., Lot 37, Sudbury
MORTGAGE: $417,000 from the Bank of
Canton
NOTES: Single-family Colonial, built 1979;
house size is 4,450 sf, lot size is 3.3 acres; five
bedrooms and 3.5 baths; last sold for
$410,600 in Feb. 1992
7
BUYER: Evan O. Grossman and Wendy S. Grossman
SELLER: Jo D. Williams
PRICE/ADDRESS: $1,200,000; 23 Harris St.,
Lot 4, Brookline
MORTGAGE: $417,000 from Prospect Mortgage
NOTES: Single-family, built 1915; house size is
3,450 sf, lot size is 4,175 sf; six bedrooms and
three baths; seller’s ownership dates to April
1968; Declaration of Homestead
BUYER: Steven Axon
SELLER: Robert R. Turgiss and Susan M.
Turgiss, trustees of Turgiss Family Investment TR
PRICE/ADDRESS: $1,113,500; 96 Jerusalem
Rd., Cohasset
MORTGAGE: $835,100 from NE Moves
Mortgage
NOTES: Single-family Cape, built 1968; house
size is 2,425 sf, lot size is 21,000 sf; four bed-
rooms and 2.5 baths; last sold for $363,305 in
Aug. 1991
BUYER: Judith T. Wheelock and Morgan D. Wheelock
SELLER: Nancy S.K. Sonis
PRICE/ADDRESS: $1,110,000; 293 Goddard
Ave., U-293, Brookline
NOTES: Residential unit in cluster-style condo-
minium complex; unit size is 3,150 sf; four
bedrooms and 3.5 baths; unit last sold for
$255,800 in March 1981
continued on page 8
8 THE REAL REPORTER
Residential Deals
MILLION DOLLAR MORTGAGES/SALES JUNE 29 - JULY 2, 2010
continued from page 7
BUYER: Philip A. Aberizk
SELLER: Alfred G. Clifford, trustee of Milk
Street Realty TR
PRICE/ADDRESS: $1,075,000; 80 Pleasant
St., Unit 2, Newburyport
NOTES: Residential unit in three-story condo-
minium building; unit size is 3,150 sf; three
bedrooms, three baths and two half-baths; last
sold for $650,000 in Dec. 2003
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.,
U-9, Cambridge
MORTGAGE: $1,500,000 from Bank of
America NA
NOTES: Residential unit in the 9-11 Follen
Street Condominium; unit size is 4,300 sf; five
bedrooms and five baths; unit last sold for
$2,400,000 in July 1999
BUYER: Hingham Institution for Savings
SELLER: Joan L. Solomont
PRICE/ADDRESS: $2,950,000*; 60 Heath
Hill, Brookline
NOTES: Single-family Cape, built 1980; house size
is 4,650 sf, lot size is 19,375 sf; eight bedrooms
and 4.5 baths; *Foreclosure deed; prior sale to
David and Joan Solomont for $58,750 Jan. 1982
BUYER: Connie H. Hu and Jim C. Hu
SELLER: Christine Gawlick and Rainer J. Gawlick
PRICE/ADDRESS: $2,500,000; 206
Buckminster Rd., Brookline
MORTGAGE: $1,500,000 from Merrill
Lynch Credit Corp.
NOTES: Single-family Colonial, built 1900; house
size is 4,475 sf, lot size is 6,600 sf; five bed-
rooms and 4.5 baths; last sold for $1,140,000 in
Aug. 1997; Declaration of Homestead
MORTGAGE: $1,990,000 from Infomercial
Marketing Partners International
ADDRESS: 8 Linda Ln., Nahant
BORROWER: Frank Ciampa and Diane Sugrue
BUYER: Elizabeth O’Grady and James O’Grady
SELLER: Richard A. Leavitt and Susan B. Leavitt
PRICE/ADDRESS: $1,950,000; 23 University
Ln., Manchester-by-the-Sea
NOTES: Single-family Mansion, built 1900;
house size is 6,225 sf, lot size is 1.8 acres;
eight bedrooms, two baths and two half-baths;
last sold for $1,750,000 in Aug. 2005
A single-family home at 786 Strawberry Hill Rd. in Concord has new owners in Andrea Medved and
Janos Rohaly, who paid $1,365,000 for the five-bedroom, 4,800-sf Colonial to Anne M. DeSilva and
Rajiv K. DeSilva. Acquisition of the 17-year-old property, which last sold for $1,475,000 in August 2007,
was secured with a $417,000 loan from Amerisave Mortgage Corp.
BUYER: Mini R. Kolluri and Surya P. Kolluri
SELLER: Nancy A. Wolf
PRICE/ADDRESS: $1,900,000; 67
Buckminster Rd., Lot 9, Brookline
MORTGAGE: $1,330,000 from Bank of
America NA
NOTES: Single-family Colonial, built 1893,
house size is 4,375 sf, lot size is 17,100 sf; eight
bedrooms and 3.5 baths; seller’s ownership
dates to Jan. 1956; Declaration of Homestead
MORTGAGE: $1,650,000 from Nantucket Bank
ADDRESS: 3 Marion St., Lot 5-8, Nantucket
BORROWER: William Leone
MORTGAGE: $1,650,000 from Nantucket Bank
ADDRESS: 2 Exeter St., Nantucket
BORROWER: Sarah Conforti-Halford and
Tommy Lee Halford
BUYER: Darren A. Bovie and Patricia L. Bovie
SELLER: Elmrock LLC
PRICE/ADDRESS: $1,600,000; 7 Hamilton
Rd., Wellesley
MORTGAGE: $1,280,000 from Bank of
America NA
NOTES: Single-family Colonial, built 2010;
house size is 4,800 sf, lot size is 11,500 sf;
four bedrooms and 4.5 baths; property last
sold for $610,000 in July 2009
BUYER: Edmund Bellord and Sadaf Roshan Bellord
SELLER: Monica G. Noether
PRICE/ADDRESS: $1,400,000; 19 Lorena
Rd., Lot 22A, Winchester
MORTGAGE: $1,120,000 from Wainwright
Bank & Trust Co.
July 8, 2010
NOTES: Single-family Colonial, built 1928;
house size is 4,650 sf, lot size is 28,750 sf;
three bedrooms and 3.5 baths; last sold for
$1,300,000 in March 2000
BUYER: Andrew Apstein and Erin Apstein
SELLER: Marissa Carmel and Scott Carmel
PRICE/ADDRESS: $1,316,000; 67 Ware Rd.,
Needham
NOTES: Single-family Colonial, built 2008;
house size is 4,575 sf, lot size is 10,500 sf;
four bedrooms and 3.5 baths; property last
sold for 487,500 in Nov. 2006
BUYER: Lawrence P. Coassin
SELLER: Franklin Street Cambridge Holding LLC
PRICE/ADDRESS: $1,300,000; 509 Franklin
St., Cambridge
MORTGAGE: $975,000 from BNY Mellon
NOTES: Three-decker residential, built 1855;
living space is 3,925 sf, lot size is 4,000 sf
MORTGAGE: $1,240,000 from Bank of
America NA
ADDRESS: 38 Wanoma Way, Lot 124, Nantucket
BORROWER: Gary C. Oberting
BUYER: Mohammed A. Aljadaani and Sheri S. Taub
SELLER: Daniel Coleman and Kimberly Nicole
Khoury
PRICE/ADDRESS: $1,188,000; 445 Franklin
St., Cambridge
MORTGAGE: $417,000 from RBS Citizens
NOTES: Single-family, built 1894; house size is
2,100 sf, lot size is 3,600 sf; four bedrooms and
2.5 baths; last sold for $1,125,000 in April 2005
continued on page 9
July 8, 2010 THE REAL REPORTER 9

Residential Deals
MILLION DOLLAR MORTGAGES/SALES JUNE 29 - JULY 2, 2010

continued from page 8

BUYER: Catherine J. Basrak and Timothy E. Genis
SELLER: David G. Hunter and Michele Trucksis
PRICE/ADDRESS: $1,175,000; 84 Draper
Rd., Lot 54, Wayland
MORTGAGE: $735,000 from TD Bank NA
NOTES: Single-family Colonial, built 1959;
house size is 5,675 sf, lot size is 1.7 acres; six
bedrooms and 4.5 baths; last sold for
$1,403,500 in Aug. 2002

MORTGAGE: $1,160,000 from Hyde Park

Savings Bank
ADDRESS: 92 Thorndike St., Brookline
BORROWER: Kamal Ahmad and Sharmi Ahmad

BUYER: Frederick F. Raymond and Jean M. Raymond

SELLER: Mary J. Colton and Timothy J. Colton
PRICE/ADDRESS: $1,150,000; 277 Adams
St., Milton
MORTGAGE: $920,000 from MetLife Bank
NOTES: Single-family Colonial, built 1910; house An imposing single-family home at 263 Adams St. in Milton has traded for the first time since Aug. 1988.
size is 4,500 sf, lot size is 13,485 sf; six bed- Joanna C. Levitan and Richard A. Levitan paid $1,662,500 to Joanne S. Gill and Thomas D. Gill for the
rooms and 4.5 baths; last sold for $1,100,000 in four-bedroom, 4,950-sf structure that is sited on nearly an acre near the Neponset River Reservation.
June 2006; Declaration of Homestead BNY Mellon financed the deal with a $1,237,500 mortgage. The property last sold for $910,000.

BUYER: Richard A. Leavitt and Susan B. Leavitt
SELLER: Romaine L. Walker and Stephen S. Walker
PRICE/ADDRESS: $1,130,000; 72 Island Rd.,
Lot 1, Essex
NOTES: Single-family; house size is 4,225 sf, lot
size is 1.7 acres; four bedrooms and four baths;
property last sold for $260,000 in Oct. 1989
BUYER: James M. Johnson and Kristin L. Johnson
SELLER: Richard H. Beinecke and Deborah
Richardson Beinecke
PRICE/ADDRESS: $1,082,000; 61 Lang St.,
Concord
MORTGAGE: $342,000 and $523,000 from
Boston Private Bank & Trust Co.
NOTES: Single-family Colonial, built 1911;
house size is 3,125 sf, lot size is 22,000 sf;
four bedrooms and 3.5 baths; last sold for
$365,000 in Dec. 1986; Declaration of
Homestead
BUYER: Mark Meltz and Pilar Meltz
SELLER: Countryside Building and
Development Corp.
PRICE/ADDRESS: $1,050,000; 173 Tower
Rd., Lincoln
MORTGAGE: $840,000 from Mortgage
Master
NOTES: Single-family, built 2009; house size is
4,025 sf, lot size is 40,500 sf; four bedrooms
and 3.5 baths; property last sold for $775,000
in June 2008
BUYER: Michael G. Kaufman and Sharon Shacham
SELLER: Alison Au
PRICE/ADDRESS: $1,050,000; 15 Bontempo
Rd., Newton
MORTGAGE: $725,000 from NewAlliance
Bank
NOTES: Single-family Colonial, built 2010; house
size is 3,000 sf, lot size is 7,350 sf; five bedrooms
and five baths; property last sold for $196,750 in
Jan. 1989; Declaration of Homestead
BUYER: Andrew Waisburd and Beth Waisburd
SELLER: Lisa Hickey and Michael Hickey
PRICE/ADDRESS: $1,038,000; 55 Station St.,
U-2B, Brookline
MORTGAGE: $410,000 and $523,750 from
Patriot Community Bank
NOTES: Residential unit in low-rise condo-
minium property, constructed 2006; unit size is
2,050 sf; three bedrooms and 2.5 baths; unit
last sold for $1,059,000 in Oct. 2007
MORTGAGE: $1,000,000 from Peoplesbank
ADDRESS: 219-393 Memorial Ave., West Springfield
BORROWER: Alliz Group Inc. and Century
Center LLC
MORTGAGE: $1,000,000 from Hyde Park
Savings Bank
ADDRESS: 224 Walnut St., Lot 1, Brookline
BORROWER: Judith R. Darrow and Michael D.
Siegel
JUNE 29TH
BUYER: Mark D. Balk, trustee of 37
Commonwealth Avenue Nominee Trust
SELLER: Joseph R. Jenkins, trustee of 37
Commonwealth Avenue Realty Trust II
PRICE/ADDRESS: $10,300,000; 37
Commonwealth Ave., Boston
MORTGAGE: $7,210,000 from PHH
Mortgage Corp.
NOTES: Four-story apartment building, con-
structed 1910; living space is 8,725 sf, lot size is
3,725 sf; last sold for $8,850,000 in Nov. 2005
BUYER: Carole J. Pieper and Charles P. Pieper
SELLER: David S. Landes and Sonia T. Landes
PRICE/ADDRESS: $2,700,000; 24 Highland
St., Cambridge
NOTES: Single-family Tudor with auxiliary apart-
ment; house size is 5,075 sf, lot size is 13,100
sf; seller’s ownership dates to June 1965
MORTGAGE: $2,000,000 from Charles Schwab Bank
ADDRESS: 26 North Beach St., Lot 18, Nantucket
BORROWER: Steven M. Friedman
BUYER: Xiaooing Cao and Wenhua Zhang
SELLER: James P. Berezin, trustee of 78
Waban Avenue Realty TR
PRICE/ADDRESS: $1,800,000; 78 Waban
Ave., Newton
continued on page 10
10
Residential Deals
MILLION DOLLAR MORTGAGES/SALES JUNE 29 - JULY 2, 2010
continued from page 9
MORTGAGE: $900,000 from US Bank NA
NOTES: Single-family, built 2002; house size is
5,775 sf, lot size is 17,700 sf; five bedrooms and
5.5 baths; last sold for $2,150,000 in April 2005
BUYER: Nathaniel S. Dodge IV and Sallie C.
Dodge, trustees of Nathaniel S. Dodge IV and
Sallie C. Dodge Family TR
SELLER: Damon M. Wirtanen and Justine A.
Wirtanen
PRICE/ADDRESS: $1,700,000; 24 Tufts Rd.,
Lot 328, Lexington
MORTGAGE: $700,000 from Wells Fargo
Bank NA
NOTES: Single-family Colonial, built 2007; house
size is 4,100 sf, lot size is 17,000 sf; five bedrooms
and 4.5 baths; last sold for $650,000 in Sept. 2007
MORTGAGE: $1,650,000 from Nantucket Bank
ADDRESS: 14 Dukes Rd., Lot 10, Nantucket
BORROWER: Eugene Hanley
BUYER: John A. Reynolds and Tracie L. Reynolds
SELLER: Daniel H. Picking and Susan E. Picking
PRICE/ADDRESS: $1,625,000; 21 Parker Rd.,
Wellesley
NOTES: Single-family Colonial, built 2003;
house size is 3,950 sf, lot size is 13,200 sf;
four bedrooms and 2.5 baths; property last
sold for $567,500 in Aug. 2002
BUYER: Catherine Paquette and David Paquette
SELLER: James M. Johnson and Kristin L. Johnson
PRICE/ADDRESS: $1,625,000; 110
Hampshire Rd., Lot 283, Wellesley
MORTGAGE: $1,300,000 from Middlesex
Savings Bank
NOTES: Single-family Colonial, built 1954;
house size is 3,825 sf, lot size is 27,675 sf; five
bedrooms and 3.5 baths; last sold for
$1,605,000 in Aug. 2006
MORTGAGE: $1,500,000 from RBS Citizens NA
ADDRESS: 5 Shotnaigher Ln., Chilmark
BORROWER: Kenneth J. Davidson and Susan
M. Davidson
MORTGAGE: $1,400,000 from Lowell Five
Cent Savings Bank
ADDRESS: 254 High St., Newburyport
BORROWER: Lingley Lane LLP
MORTGAGE: $1,340,000 from Bank of
America NA
ADDRESS: 6 Candleberry Ln., Weston
BORROWER: Caroline D. Robson and Simon
C. Robson
THE REAL REPORTER
MORTGAGE: $1,255,000 from Astoria
Federal Mortgage Corp.
ADDRESS: 14 Winthrop St., Newton
BORROWER: Pratima Abichandani and Vikrant Raina
MORTGAGE: $1,210,000 from Lowell Five
Cent Savings Bank
ADDRESS: 29 Sawyer Rd., Wellesley
BORROWER: Kiran S. Rao and Malini Roy
MORTGAGE: $1,200,000 from Boston
Private Bank & Trust Co.
ADDRESS: 12 Seven Star Ln., Concord
BORROWER: James A. Jessee and Kimberly B.
Jessee
BUYER: Agnes R. Ebbs and George H. Ebbs
SELLER: Susan E. Morgan
PRICE/ADDRESS: $1,200,000; 63 Forest St.,
Wellesley
MORTGAGE: $960,000 from TD Bank NA
NOTES: Single-family Colonial, built 1924;
house size is 2,950 sf, lot size is 18,050 sf; six
bedrooms and 4.5 baths; last sold for $350,000
in May 1990; Declaration of Homestead
BUYER: Joseph L. Cargile and Tracey A. Cargile
SELLER: Prudential Relocation Inc.
PRICE/ADDRESS: $1,195,000; 25 Otis St.,
Lot 4, Needham
MORTGAGE: $750,000 from Boston
Private Bank & Trust Co.
NOTES: Single-family Colonial, built 1912; house
size is 3,400 sf, lot size is 8,325 sf; four bedrooms
and 3.5 baths; acquired by Prudential Relocation on
June 16th 2010 from Alisa M. Skatrud and Michael
Skatrud; prior sale of $1,100,000 in Sept. 2005
BUYER: Glen R. Votapka and Suzanne Votapka
SELLER: Anne T. Sisk and Joseph W. Sisk
PRICE/ADDRESS: $1,190,000; 18 Southgate
Rd., Lot 5, Wellesley
MORTGAGE: $625,000 from Sovereign Bank
NOTES: Single-family; house size is 2,650 sf,
lot size is 21,375 sf; seller’s ownership dates
to July 1963
BUYER: Christopher C. Mitchell and Daphne
Koinis Mitchell
SELLER: Sylvia W. Kaufman, trustee of
Concolor Avenue Realty TR
PRICE/ADDRESS: $1,100,000; 61 Concolor
Ave. Newton
MORTGAGE: $770,000 from Salem Five
Mortgage Co.
NOTES: Single-family Colonial, built 1923;
house size is 3,200 sf, lot size is 20,700 sf;
three bedrooms and three baths; seller’s own-
ership dates to June 1989
July 8, 2010
MORTGAGE: $1,100,000 from Cambridge
Trust Co.
ADDRESS: 70 Simon Willard Rd., Concord
BORROWER: Daniel W. O’Connor and Julia W.
O’Connor, trustees of Julia W. O’Connor 2008 TR
MORTGAGE: $1,089,000 from Merrill
Lynch Credit Corp.
ADDRESS: 1 Benvenue St., Lots A and B, Wellesley
BORROWER: David J. Dymecki and Nancy J.
Dymecki
BUYER: Gregory D. Anthony and Jeremy A. Rassen
SELLER: Nancy F. Kaye and Robert M. Kaye
PRICE/ADDRESS: $1,065,000; 20 Intervale
Rd., Lot 1, Brookline
MORTGAGE: $852,000 from Salem Five
Mortgage Co.
NOTES: Single-family Garrison, built 1930;
house size is 2,100 sf, lot size is 27,200 sf; three
bedrooms and 2.5 baths; property last sold for
$83,000 in April 1980; Declaration of Homestead
BUYER: Carol A. Baggeroer
SELLER: Khalid Abdulaziz Alnowaiser, trustee
of Worldwide Investment TR
PRICE/ADDRESS: $1,050,000; 75-83
Cambridge Pkwy., U-W1003, Cambridge
NOTES: Residential condominium in high-rise prop-
erty; unit size is 1,600 sf; two bedrooms and 2.5
baths; unit last sold for $1,055,000 in Nov. 2007
BUYER: Alex Kimmelman and Stacey Kimmelman
SELLER: Vivian Chen, f/k/a Vivian C. Natsis
PRICE/ADDRESS: $1,015,000; 38 October
Ln., Weston
MORTGAGE: $812,000 from Salem Five
Mortgage Co.
NOTES: Single-family Colonial, built 1967; house
size is 3,225 sf, lot size is 30,050 sf; five bedrooms
and 3.5 baths; last sold for $975,000 in Nov. 2004
BUYER: Kerri S. Majors and Michael D. Majors
SELLER: Sandra Powers
PRICE/ADDRESS: $1,012,500; 26 Hawthorne
Ln., Weston
MORTGAGE: $500,000 from Wells Fargo Bank
NOTES: Single-family Cape, built 1955; house size
is 4,225 sf, lot size is 40,600 sf; four bedrooms
and 4.5 baths; last sold for $970,000 in July 2007
BUYER: Diane Charmont and Thomas Charmont
SELLER: Ann P. Morris and Joseph R. Morris
PRICE/ADDRESS: $1,000,000; 3 Old
Dunham’s Corner Way, Edgartown
MORTGAGE: $700,000 from MetLife Home
Loans
NOTES: Single-family, built 1998; house size is
2,175 sf, lot size is 30,500 sf; four bedrooms and
2.5 baths; last sold for $133,712 in June 1997
July 8, 2010
Commercial Deals
MILLION DOLLAR MORTGAGES/SALES JUNE 29 - JULY 2, 2010
Commercial Deals
continued from page 5
MORTGAGE: $5,415,000 from Eastern Bank
ADDRESS: 442 Washington St., Wellesley
BORROWER: Wellesley Plaza LLC
MORTGAGE: $2,800,000 from Needham Bank
ADDRESS: 49 Green St., Needham
BORROWER: Needham Golf Club Inc.
BUYER: 845 Boylston Street LLC
SELLER: Jean Diarbakerly, trustee of 845
Boylston Street Realty TR
PRICE/ADDRESS: $2,150,000; 845 Boylston
St., Brookline
NOTES: Single-story auto service station;
building size is 4,000 sf, lot size is 15,230 sf;
last sold for $1,400,000 in Aug. 2008 via deed
in lieu of foreclosure
BUYER: Mattapan Health Center Realty
SELLER: Peter J. Demko, trustee of Wolfsburg
Realty TR
PRICE/ADDRESS: $1,900,000; 1583R and
1585R Blue Hill Ave., Mattapan*
NOTES: Commercial property, including auto
repair center owned by seller; lot size is
13,825 sf; same buyer separately acquired
1569-1581 and 1583 Blue Hill Ave., Mattapan
BUYER: Hartwell Hospitality LLC
SELLER: Hartwell Realty Partners
PRICE/ADDRESS: $1,500,000; 94 Hartwell
Ave., Lots 11 and 12, Lexington
MORTGAGE: $100,000 from Hartwell
Realty Partners and $2,400,000 from
Northern Bank & Trust Co.
NOTES: Two-story restaurant property, con-
structed 1985; building size is 12,825 sf, lot
size is 8.7 acres; last sold for $2,100,000 in
Oct. 2005; former Hartwell House restaurant
BUYER: Dutton Properties LLC
SELLER: Loft Properties LLC
PRICE/ADDRESS: $1,260,000; 491 Dutton
St., Lowell
MORTGAGE: $500,000 and $945,000 from
Lowell Five Cent Savings Bank
NOTES: Twelve units at the Residence at the
American Textile History Museum Condominium;
units 301-312; last sold for $2,635,000 in July 2006
BUYER: BMH Riverside LLC
SELLER: Spilios Balodimas
PRICE/ADDRESS: $1,100,000; 162-164 and
170-172 Riverside St., Lowell
MORTGAGE: $825,000 from Reading
Cooperative Bank
THE REAL REPORTER
NOTES: Two multifamily buildings; 162-164
Riverside St. a three-family property, constructed
1930; living space is 6,350 sf, lot size is 4,600
sf; last sold for $80,000 in Sept. 1982; 170-172
Riverside St. a six-plus unit property, constructed
1880; living space is 9,850 sf, lot size is 3,475
sf; last sold for $88,000 in Jan. 1977
BUYER: 435 South Huntington LLC
SELLER: Relyndon Inc.
PRICE/ADDRESS: $1,070,000; 435-439
South Huntington Ave., Jamaica Plain
MORTGAGE: $434,000 from South Shore
Economic Development Corp. $428,000
and $535,000 from Sovereign Bank
NOTES: Commercial property; lot size is 5,775 sf
MORTGAGE: $1,000,000 from Lowell
Cooperative Bank
ADDRESS: 94-106 and 131-133 University
Ave., Lowell
BORROWER: Arthur J. Faneros, trustees of
C&F Realty TR
JUNE 30TH
BUYER: Shire Human Genetic Therapies
SELLER: Patriot Partners Lexington LLC and
200 Patriot Way
PRICE/ADDRESS: $165,000,000; 300 and
500 Patriot Way and 125 Spring St., Lexington
NOTES: Business park on Route 2 acquired by
anchor tenant; total value consideration of $201
million including future construction capabilities
BUYER: John Hancock Life & Health Insurance Co.
SELLER: John Hancock Life Insurance Co.
PRICE/ADDRESS: $27,000,000; 266 and 275
Second Ave., Waltham
NOTES: Two-building office park off Route 128
known as Waltham Place; property size is 200,000
sf; buildings foreclosed on by seller in June 2010
MORTGAGE: $17,500,000 from Cambridge
Savings Bank
ADDRESS: 399 Grove St., Newton
BORROWER: BH Normandy Owner LLC
MORTGAGE: $3,300,000 from
Massachusetts Department of Housing
and Community Development,
$10,210,000 from Boston Community Loan
Fund and $15,000,000 from Eastern Bank
ADDRESS: 39, 45 and 48 Water St., Worcester
BORROWER: Canal Lofts LP and Canal Lofts
Winn LLC
MORTGAGE: $7,500,000 from Framingham
Co-Operative Bank
ADDRESS: 134 Turnpike Rd., Southborough
BORROWER: 134 Turnpike Road LLC
11
BUYER: 15 Concord Road LLC
SELLER: Sudbury Plaza Associates
PRICE/ADDRESS: $6,122,000; 5-15 and 19
Concord Rd., Sudbury
MORTGAGE: $4,600,000 from Salem Five
Cents Savings Bank
BUYER: LMP GFIII 600 Federal LLC
SELLER: 600 Federal Property LLC
PRICE/ADDRESS: $5,872,960; 165-171
Chandler St. and 600 Federal St., Andover
NOTES: Two-story office property, constructed 1998;
building size is 110,000 sf, lot size is 8.3 acres; last
sold for $8,624,241 in Sept. 2009 via deed in lieu of
foreclosure; assessed value of $9,927,900
MORTGAGE: $4,150,000 from Walpole Co-
Operative Bank
ADDRESS: 258-260 Dedham St., Lot A, Norfolk
BORROWER: John McTernan, trustee of Eagle
Brook Realty TR
MORTGAGE: $3,740,000 from Cambridge
Savings Bank
ADDRESS: 981 Worcester Rd., Wellesley
BORROWER: Steven A. Cohen, trustee of CEA
Wellesley Trust
BUYER: JKY Realty LLC
SELLER: Nancy Stuart, trustee of Pond Plaza Realty TR
PRICE/ADDRESS: $2,995,360; 51-69 Pond
St., Ashland
MORTGAGE: $1,200,000 from Needham Bank
NOTES: Single-story Pond Plaza retail center,
constructed 1989; building size is 16,775 sf,
lot size is 1.8 acres; seller acquired property for
$600,000 in March 1989
BUYER: LMP GFIII 800 Federal LLC
SELLER: 800 Federal Property LLC
PRICE/ADDRESS: $2,871,640; 800 Federal
St., Andover
NOTES: Three-story office property in
Woodland Park, constructed 1999: building size
is 165,000 sf, lot size is 22.6 acres; last sold for
$10,679,968 in Sept. 2009 via deed in lieu of
foreclosure; assessed value of $11,513,800
BUYER: Admiral Farragut LLC
SELLER: Coastal Oil New England
PRICE/ADDRESS: $2,750,000; 934 East 1st
St., Boston*
NOTES: Commercial land; lot size is 6,275 sf;
*a portion of the property that sold for
$15,695,000 in Jan. 1986
BUYER: Combined Properties Inc.
SELLER: Apex Inc.
PRICE/ADDRESS: $2,000,000; 17 Centennial
Dr., Lot 22A, Peabody
continued on page 13
12
Massachusetts Corporations
Corporation
Nuestra Quincy Commons Commercial LLC Eleanor Coleman, signatory
Geopricing LLC
SLT LLC
One Hillside Estates LLC
CFP Realty LLC
327-329 Boston Post LLC
162 Centre Street LLC
DLC Property Manager LLC
The MLS App Inc.
Platinum Pebble LLC
Northeast Affiliates LLC
TLP Acquisitions, Development &
Management Corp.
Trinity Mattapan Heights Five Inc.
DiFonte Properties LLC
Trinity Mattapan Heights Five
Limited Partnership
Incodwetrust LLC
LMP GFIII 800 Federal LLC
Federal Street Common Area LLC
LMP GFIII 600 Federal LLC
R & M Family Realty LLC
17-19 Upland Road LLC
Yobela LLC
Whittier Street Health Center
Realty Corporation
Woburn Four LLC
Echo Bridge Partners LLC
Russia Building TRS LLC
BP RB Developer LLC
Channelside Mall Holdings LLC
Spence Realty LLC
Homegrown Properties LLC
leasing and management
BP Atlantic Wharf Master Tenant LLC
BP Russia Building LLC
THE REAL REPORTER
Organized June 29 - July 2, 2010
Directors/Registered Agents
Sean Green, manager
Lisa L. Turnblom, manager; Stephen J. Turnblom,
manager and resident agent
Jonathan Wildes, signatory; Nicholas Sivieri,
signatory and resident agent
Steven D. Catalano, manager, signatory and resident agent
Gregory C. Tocci, manager, signatory and resident agent
Thomas J. Donnelly, manager and signatory;
Lawrence L. Blacker, resident agent
James P. Mackin, president; Andrew T. Leafe, treasurer;
Antoine E. Nakhle, secretary; Jeffrey Koss, Sally Koss and
Steven Koss, directors; Thomas J. Percy, Esq., reg. agent
Annabelle Hunton, manager; Simon Hunton, manager and
resident agent
Brian W. Longval and Richard E. Warren, managers;
James M. Cote, signatory and resident agent
Terrell B. Bettano, president, treasurer, secretary and
registered agent
James G. Keefe, treasurer and secretary; Patrick A.T. Lee,
president and registered agent
Mark P. DiFonte, manager, signatory and resident agent
Patrick A.T. Lee, president
Paula M. Kelley, resident agent
Eric B. Sheffels, resident agent
Eric B. Sheffels, resident agent
Eric B. Sheffels, resident agent
Michelle T. Auriemma, manager and signatory; Ronald
Auriemma, manager, signatory and resident agent
Eric M. Hoagland, manager, signatory and resident agent
Phyllis Murphy, M.D., manager and signatory;
Eric J. Krathwohl, signatory and resident agent
Frederica M. Williams, president; John D. Reardon, treasurer; Principal office @ 1125 Tremont St., Roxbury MA 02120; Williams @
Vianka Perez Belyea, clerk; Vernon Nelson, director;
Sean Ryan, resident agent
Neil Mellen, manager and signatory
Andrew DiMatteo, manager and signatory;
J. Clancy Casey, manager, signatory and resident agent
Frank D. Burt, resident agent
Frank D. Burt, resident agent
Edmund Byrne, signatory
Colin Charles Spence, MR, manager and resident agent
Jane Mitchell Huston, manager, signatory and resident agent 10 Wampanoag Dr., Franklin MA 02038
Frank D. Burt, resident agent
Frank D. Burt, resident agent
July 8, 2010
Address Nature of Business
56 Warren St., Ste. 200, Roxbury MA 02119 Deal with real property
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
187 Gulf St., Shrewsbury MA 01545 Real estate development
Principal office @ 31 Home Depot Dr., Ste. 137, Plymouth MA 02360; Investment in, and ownership and develop-
Wildes @ 9 Inlet Cove Rd., Alstead NH 03602; ment of, real estate and interests therein
Sivieri @ 86 Shallow Pond Ln., Plymouth MA 02360
188 Ayer Rd., Harvard MA 01451 Own, develop, invest in and manage real
and personal property
327 F. Boston Post Rd., Sudbury MA 01776 Real estate
Principal office @ 17 Woodworth St., Boston MA 02122; Dealing with interests in real estate
Blacker @ 77 Franklin St., Boston MA 02110
580 White Plains Rd., Tarrytown NY 10591 Ownership, operation and management of
real estate and real estate related assets
Principal office @ 630 Park St., Stoughton MA 02072; Mackin @ Own, conduct, operate, maintain and carry on
1 Sheafe St., Apt. 1A, Boston MA 02113; Leafe @ 10 Onset Rd., and online advertising and promotions
#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
186 Belmont Rd., West Harwich MA 02671 Operation of a lodging establishment that
offers overnight accommodation; holding of real and personal property
Principal office @ 500 Maple St., Danvers MA 01923; Owning, managing & developing other comp-
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
254 Pleasant St., Winthrop MA 02152 Acquisition, development and management of
real property
40 Court St., Ste. 800, c/o Trinity Financial, Inc., Boston MA 02108 Buy, sell, own, develop, operate and maintain
real estate
64 Sullivan St., Unit 1, Charlestown MA 02129 Investment, ownership and development of
real estate and all interests therein
40 Court St., Ste. 800, c/o Trinity Financial, Inc., Boston MA 02108 Deal with interests in real estate
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
10 Post Office Sq., Boston MA 02109 Deal with real estate and interests therein
10 Post Office Sq., c/o Leggatt McCall Properties LLC, Boston MA 02109 Real estate
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
5 Larson Ln., Stoneham MA 02180 Real estate management
195 Lexington Ave., Cambridge MA 02138 Own, manage, buy, sell, rent, develop and/or
construct real property
176 Federal St., Rich May, P.C., Boston MA 02110; Murphy @ Own, manage, lease, operate and dispose of
33 No. Garden Ave., Ste. 875, Clearwater FL 33755 real property
Charitable activities benefiting, performing the
34 Sarah St., Randolph MA 02368; Reardon @ 33 Nancy Rd., Milton MA; functions of, and carrying out the purposes of
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
Principal office @ 420-424 Washington St., Woburn MA 01801; Purchase, sell, lease and develop real property
Mellen @ 460 Coe Ave., East Haven CT 06512
Principal office @ 14 Riverview Terr., Dover MA 02030; Manage and invest in real estate
DiMatteo @ 290 Bridle Trail Rd., Needham MA 02492
800 Boylston St., Ste. 1900, c/o Boston Properties, Boston MA 02199 Own, operate, manage and develop RE
800 Boylston St., Ste. 1900, c/o Boston Properties, Boston MA 02199 Real estate
265 Franklin St., 19th Floor, Boston MA 02110 Hold and dispose of real property
20 Emerald St., Tyngsboro MA 01879 Real estate rental and redevelopment
Real estate acquisition, development, sale,
800 Boylston St., Ste. 1900, c/o Boston Properties, Boston MA 02199 Own, operate, manage and develop RE
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

LLC Bagley and Patricia Horne

Commercial Deals MORTGAGE: $1,664,000 from Sovereign Bank PRICE/ADDRESS: $1,000,000; 26 Fayette St.,
continued from page 11 ADDRESS: 11 Widett Cir., Boston Boston
NOTES: Two-story medical office property, con- BORROWER: 11 Widett Circle LLC MORTGAGE: $750,000 from Cambridge
structed 1983; building size is 43,575 sf, lot Savings Bank
size is 3.9 acres; last sold for $5,893,927.97 in BUYER: Woodlands View LLC NOTES: Four- to six-unit apartment building;
April 2010 via deed in lieu of foreclosure; prior SELLER: Wachusett Woodlands LLC last sold for $1,200,000 in Oct. 2004
owner, McDougal Realty, had owned property PRICE/ADDRESS: $1,300,000; off Berlin
since Aug. 1983 Road, Clinton JUNE 29TH
NOTES: Two land parcels totaling 147.5 acres
MORTGAGE: $2,000,000 from Hingham MORTGAGE: $17,300,000 from Sovereign Bank
Institution for Savings MORTGAGE: $800,000 and $1,297,000 from ADDRESS: 111 Boylston St., Lots 1-3, Brookline
ADDRESS: 8-16, 12 and 14-16 Copeland St., North Shore Bank BORROWER: American Transportation Enterprises
115 Dale St., 56 and 58 Holworthy St., 256- ADDRESS: Kristine Lane, Lots 3, 8, 9, 10, 11,
258 Warren St. and 34 Waumbeck St., Roxbury 12, 15, 16 and 17, Haverhill MORTGAGE: $10,600,000 from Centerline
BORROWER: Affirmative Housing Partnership LLC BORROWER: GB Realty Investments LLC Mortgage Partners
ADDRESS: 2-20 Allston St. and 112-120
MORTGAGE: $1,749,300 from Framingham MORTGAGE: $1,200,000 from Leader Bank Marston Street, Lawrence
Co-Operative Bank ADDRESS: 105-115 Fifth St., Cambridge BORROWER: Legacy Park Lawrence Two LLC
ADDRESS: Crimson Drive and Hickory Drive, BORROWER: 105 Fifth Street LLC
Lots 1-9 and 28-32, Shrewsbury MORTGAGE: $4,620,000 from Jeanne
BORROWER: Brendon Properties Hickory Hills BUYER: 26 Fayette Street LLC D’Arc Credit Union
SELLER: Beth Bagley, Jennifer Bagley, Reid ADDRESS: 307 Boston Post Rd., Sudbury
14
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
Leasing Peter Brown and by the Richards
Barry Joyce & Partners team led by
Robert Byrne, James Lipscomb, Brian
McKenzie and John Wilson. Vincent
Albanese of Paramount Partners negotiat-
ed for the tenant.
Acquired by Campanelli and
Commonfund Realty in
July 2007 for $11.6 mil-
lion, 8 Presidential Way
was originally slated for
an expansion and
upgrade to 160,000 sf of
high-end office product
that could accommo-
Peter Brown date tenants in a
dynamic market where rents were sud-
denly eclipsing $30 per sf. The program
came tantalizingly close to achieving that
vision until national economic woes put
the country in a deep freeze that is only
now beginning to thaw. Major require-
ments vanished and speculative construc-
tion became equally invisible.
One observer following 8 Presidential
Way’s resolution says the Porter & Chester
decision reflects a veteran landlord’s abili-
ty to respond to challenging conditions.
The Real Reporter
VOLUME 2, NUMBER 21
© 2010 The Real Reporter, Ten Post Office
Square, Boston MA 02109, 617-692-2997.
All rights reserved. No part of this publica- take for Porter & Chester to be open in its
tion may be reproduced without the written
consent of the publisher. The Real Reporter is launch on the dais. As for expanding 8
a trademark of Launch Pad Boston.
FEEDBACK TO: EDITOR@THEREALREPORTER.COM
THE REAL REPORTER
“Campanelli is a very savvy and innovative
group,” says the source. “They know how
to put a deal together and were very cre-
ative in meeting some really specialized
requirements to get it done.”
Terms of the lease have not been
released, save for being described as a
“long-term” commitment and said to be
priced in the range of $12 per sf NNN. One
broker says only limited TI dollars will be
required to make the building usable for
Porter & Chester. About 20 percent of 8
Presidential Way was constructed as
office space, according to that broker, who
says the manufacturing sections will be
retrofitted for training purposes.
According to its website, Porter &
Chester offers training in such fields as
automotive, computer technology, elec-
tronics and healthcare. Three of its eight
locations are in the bay State, those being
Canton, Chicopee and Westborough.
A broker familiar with the tenant’s
requirement says it was looking to find an
easily accessible and functional property
and geographically wanted to accommo-
date students north of the Massachusetts
Turnpike and up into the Route 128 region
and southern New Hampshire.
Sources could not say how long it will
new home, but one rumor has an August
Presidential Way to 160,000 sf on the 13.7-
acre parcel, one broker insists the concept
July 8, 2010
Photo: Derek Szabo
is still viable physically, either for the
inaugural tenant or perhaps to accommo-
date another prospect. Sources could not
say whether Porter & Chester invoked any
expansion options into the lease.
Observers accede that such a move
would likely require a commitment given
the lingering troubles for suburban
Boston’s office market, although the
upper end of Route 128 from Burlington
to Wakefield has been among the best
performers in New England during 2010.
Colliers Meredith & Grew’s latest research
shows positive net absorption of 115,000
sf through mid-year for a submarket of 7.5
million sf. That has the vacancy rate there
at 19.8 percent versus a suburban average
of 21.8 percent. n
Back Bay Landmark
continued from page 3
attention to detail, and their commitment
to the Back Bay,” says McGill.
The Back Bay has been among the
region’s strongest office markets in recent
months after suffering for more than a year.
According to JLL research, the submarket
of 13.0 million sf posted positive net absorp-
tion of 138,000 sf in Q2, bringing the total
YTD to 229,500 sf on the plus side. Those
are the best results among seven Boston
office districts surveyed by JLL, which
recorded negative net absorption of 268,230
sf in the quarter for Boston overall. n
July 8, 2010 THE REAL REPORTER 15

An Entrepreneur of the Years

continued from page 4
Elizabeth C. Ross, who assists in marketing efforts. “She is very
gutsy,” Ross says. “If there is a deal she thinks we should be
doing, Maria will pick up the phone and call right away.”
Ross is further impressed by Krokidas’ ability to reel in a
prospect, attributing it to “an interpersonal intelligence” that
combines with her unwavering belief in the staff’s abilities. That
faith was accentuated a decade ago when K&B took on a slew of
major competitors to secure legal chores for the $800 million
Boston Convention & Exhibition Center, a hulking 516,000-sf
monument that opened in 2004 and is now visible from K&B’s
headquarters at the Federal Reserve Building. The biggest facili-
ty of its kind in New England, the BCEC created a legal labyrinth
that required exacting and endless attention for years in advance
of its completion, including permitting expertise, creation and
elimination of entire roadways and even renegotiations of myriad
contracts when the venture encountered unanticipated chal-
lenges along the way. There’s a new face in the Workplace
Not only can Krokidas bring in the business, Ross says “she s&LEXIBLETERMS
MONTHS
also recognizes people’s strengths and is very good at bringing s/FlCESAND4EAMROOMS
PEOPLE
them out” to deliver on the promised services. “Maria is a great sFULLY
LOADED#LASS!LOCATIONSNATIONALLY
communicator,” Ross says, further crediting Krokidas for “setting s5PTOLESSEXPENSIVETHANTRADITIONALLEASING
a tone” that inspires personnel to remain long-term, or in Ross’ 10% REFERRAL COMMISSION
case, to return after a brief sojourn to another practice. “I’m very Laurie Snelson, Managing Director
happy to be back,” she reports. laurie.snelson@carrworkplaces.com
Krokidas says she does enjoy helping the firm administration 617.692.2900 carrworkplaces.com
and working on staff development, but adds she looks forward to
“a more balanced schedule” enabling her to get back to the legal
profession that she adores. “At some point, I find I have to go
close my door so I can get my lawyer fix,” says the Harvard Law
School graduate who explains the attractions include helping
clients overcome intractable legal issues, and in responding
quickly to a deadline-oriented assignment.
Certainly it seems her clients are eager to have Krokidas in the
mix. “She brings not only a fabulous passion to her work, but also
a great institutional memory,” says Edward Adelman, executive
director of the Massachusetts State College Building Authority, a
quasi-public agency that K&B represented even before he joined
eight years ago and has assisted on several substantial projecs,
including a $61 million dormitory in Boston for the Massachusetts
College of Art & Design that recently broke ground.
Representing nine state campuses and some 14,000 students,
MSCBA legal matters are complex and constant, says Adelman, Our Difference
with the agency having provided $150 million during the past
year alone to allow for new construction and restoration of class-
Became Their Advantage.
rooms, dorms and recreational facilities across the state. Thanks COGITO MAPC
to K&B and Krokidas, the legal representation has never been ASTARO INTRALINKS
lacking, says Adelman. “They have all the resources we need and ROYCROFT DESIGN E.P. LEVINE
are very good at what they do,” he says. DUNE MEDICAL THE PLUM GROUP
Krokidas is a mutual admirer of the MSCBA, praising the firm MEISTERS CONSULTANTS LEMAITRE VASCULAR
as one of the best public-sector builders in the country. “They do
An experienced Tenant Representative can help you navigate a changing
really beautiful work,” says Krokidas, who credits her long-term
market, to help you maximize savings and reduce occupancy cost.
clients for the firm’s successes. That element was not lost on her
during the NEWIRE ceremony at which dozens of clients turned
out. “In that room were many of the people who made it happen,”
www.thestevensgrp.com | 617-866-9300
she says. “It was a nice chance to be able to thank them.” n
16
Rising Tide
continued from page 1
“People are willing to commit or make an
expansion decision much more quickly
now,” he says. “We see the market going
up, not down.”
Mid-year results delivered this week by
Grubb & Ellis research seem to support at
least an easing of the
woes prevalent for sub-
urban Boston landlords.
Five of nine submarkets
surveyed by G&E indi-
cated positive net
absorption through two
quarters, a slight yet
James Lipscomb rare majority compared
to past quarters dating
to late 2008. Richard
Barry Joyce & Partners
divvies its survey into
seven submarkets, of
which six finished posi-
tive during the second
quarter. Comparatively,
Brendan Carroll the survey showed all
but one submarket finishing in the red
during the past 12 months.
As with Kerrigan, RBJ broker James
Lipscomb offers an improving assessment
from street level. “The activity has defi-
nitely picked up,” says Lipscomb.
Nagog Park
continued from page 2
ically and works well functionally. Built in
1982 and renovated in 1999, the three-
story structure features a red-brick exte-
rior and ribbon windows. There is a dra-
matic two-story lobby, ceiling heights to
14 feet and crescent floorplates as large as
75,000 sf that offer the flexibility coveted
by tenants. Building amenities include an
expansive cafeteria, modern fitness cen-
ter and shower facilities.
Outside, the asset has a generous park-
ing ratio of 3.4 vehicles per 1,000 sf on a
25-acre site at the rear of the Nagog Office
Park, an established campus that last
month had nine buildings purchased by a
partnership of Charles River Realty
Investors, National Development and
Winrock Partners. As previously unveiled
by The Real Reporter, the group paid
FEEDBACK TO: EDITOR@THEREALREPORTER.COM
THE REAL REPORTER
“Tenants are feeling more comfortable in
their business plans and that is showing
up in some new requirements and lease
signings.”
Kerrigan and Richards Barry Joyce &
Partners VP of Research Brendan Carroll
both say the core markets will prove the
strongest over time, although a surge of
new construction has kept vacancy rates
unusually high in such communities as
Waltham and Wellesley. RBJ estimates
negative net absorption of 644,000 in the
Route 128 Central submarket of 21.8 mil-
lion sf since June 2009, including a
57,000-sf decline in Q2. Grubb & Ellis puts
the Q2 net absorption for that submarket
at minus 137,000 sf for the 6.6 million sf it
tracks in that submarket.
Those numbers might indicate a long
road ahead, but Kerrigan says the flight-
to-quality trend that favors core locations
is taking hold, and the pipeline of specula-
tive construction has been sealed enough
to foresee a dearth of space in the very
near term. For tenants, he says, “the win-
dow is shutting,” with 2010 a prescient
time to take advantage of the still-favor-
able situation.
Carroll agrees, and cites a special RBJ
review of office space completed through-
out Greater Boston between 1994 and
2006 that indicates a scant vacancy rate of
1.9 percent for that select inventory. That
$12.5 million for the 385,000-sf portfolio
that was divested by KBS Realty
Investors.
Even though that team has already hit
the ground running in a bid to increase
occupancy at those buildings, Pullen says
he thinks that campaign could prove ben-
eficial to a new owner of 100 Nagog Park,
with indications that the 120-acre campus
will be further improved. As it is, the park
features wooded walking trails and land-
scaping that provides a bucolic setting
just off Route 2A and across from Nagog
Pond.
Less picturesque has been the
Interstate 495 office market that has seen
rental rates plunge in the wake of
depressed leasing demand throughout
Greater Boston. According to FHO
Partners, Acton’s inventory of 1.17 million
sf has a vacancy of 34.3 percent versus the
submarket average of 28.0 percent, while
July 8, 2010
block of about 6,5 million sf is benefitting
from tenants preferring modern buildings,
he says, and has been so well received
there have been rare instances of asking
rents actually going up for the most covet-
ed business addresses. The survey did not
include the newest properties because
many are in their natural lease-up stage,
explains Carroll, whose main conclusion is
that higher-end properties in circulation
are faring well, offering hopes for a quick
rebound in Route 128 Central.
Kerrigan voices a similar outlook. Even
though Grubb & Ellis indicates some of
the hardest hit submarkets have shown
gains of late, including a 123,000-sf boost
in net absorption for Interstate 495 West
through mid-year, Kerrigan says there
remains too much product for rents to
improve noticeably in fringe outposts.
Buildings with stable sponsors and solid
fundamentals might fare well, he says, but
overall tertiary communities “face a real
tough comeback,” he says. “It’s a perfect
storm for vacancy,” he says of the difficult
conditions including marginal product and
weak job activity.
Indeed, new age companies needing to
attract a skilled workforce often view real
estate as a recruiting tool, and Kerrigan
says that is helping spark the quality con-
sciousness. “We clearly are seeing a recov-
ery in the stronger markets,” he says. n
the average asking rent of $18 per sf is $5
per sf less than the submarket rate.
On the plus side, Acton did enjoy
103,000 sf of positive net absorption in the
first half of 2010, according to FHO
Partners, faring much better than the sub-
market as a whole that suffered an overall
decline of 177,000 sf during that period on
an inventory of 31.5 million sf. Observers
spoken to also maintain Acton has an
unusual level of retail and restaurant
options available, and is attractive to own-
ers of small- and mid-sized companies
residing in the MetroWest area.
Pullen says he anticipates a strong
sponsor would do well keeping 100 Nagog
Park as an office use, but adds there is the
potential for ancillary uses thanks to the
size of the parcel a buyer would be getting.
“The possibilities are really broad,” he says,
noting that AvalonBay has a large multi-
family complex on an adjacent site. n
July 8, 2010
The Real Report
continued from page 1
to $189 per sf versus the $148 per sf paid
by Dividend Capital. Fully leased to
Arbella Insurance, the four-story build-
ing supposedly traded at a capitalization
rate of around 8 percent, according to one
analyst familiar with the terms. Sources
maintain the Arbella lease rate is in the
$12-per-sf range.
The portfolio is scattered throughout
the US and includes a variety of flex,
industrial and office buildings. As for the
local portion, one market professional
spoken to was impressed by the deal on
behalf of the buyer. “That building is
worth $200 per sf all day long,” says the
expert.
The deal is not, however, the only
Crown Colony Office Park asset to
change hands at a discount. Earlier this
year, the Campanelli Companies of
Retail Package
continued from page 1
has seemingly boosted interest.
“It’s phenomenal,” Cushman &
Wakefield broker Geoff Millerd says this
week of the initial response to an asset
assemblage that his firm is again market-
ing on behalf of the
partnership. “They
have held up extremely
well.”
Apparently someone
has taken notice. Some
140 requests for infor-
Geoff Millerd
mation have already
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
first hired to market in 2007, explains
Millerd. Interest appeared to be solid
THE REAL REPORTER
Braintree paid barely $75 per sf for 300
Crown Colony Dr., a 118,000-sf office
building next door to 1100 Crown Colony
Dr. that has since attracted a surge of ten-
ants through a campaign conducted by its
new owners and Colliers Meredith &
Grew.
Loan Advisor
BOSTON — CB Richard Ellis/New
England has announced the hiring of
Connie Pemmerl to
lead the group’s busi-
ness development
efforts with national
banking institutions.
The banking and finan-
cial services industry
veteran will maintain a
Connie Pemmerl particular focus on
growing CBRE/NE’s growing loan sale
advisory business, company officials say in
then, too, but the financial meltdown that
set in a few months later doomed virtually
all investment sales activity then in the
pipeline. In that draconian environment,
Chicago-based Heitman and its partner,
the California State Teachers Retirement
System (CalSTERS), opted against
accepting a deep discount, instead decid-
ing to wait for better conditions.
According to Millerd, who is handling
the sale with C&W principals Robert E.
Griffin Jr. and Edward C. Maher Jr., a sun-
nier disposition towards commercial real
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17
a release issued this week.
“We’re very pleased to welcome Connie
to CBRE/NE,” says President and Co-
Managing Partner Andrew Hoar. The
firm’s newest EVP “has had a highly dis-
tinguished career in the financial services
industry, and her knowledge of this field
will add significant value to our Capital
Markets platform.”
Pemmerl joins the firm from her pri-
vate consulting practice where she spe-
cialized in underwriting and structuring
complex real estate transactions, debt
restructuring and troubled workouts. She
previously served as EVP of the commer-
cial real estate group for Fleet National
Bank where she orchestrated the first
non-government sponsored bulk loan sale
by a financial institution. She has also
served as director of capital markets and
portfolio management for Berkshire
Mortgage Finance and as a director of
debt placements at Boston Financial. n
estate in general and stabilized product in
particular convinced his clients that now
is the time to resurrect the effort. C&W’s
Boston team has handled three retail sales
in recent months that yielded impressive
results, providing further confidence. “It’s
clear things are much better now,” says
Millerd, who predicts a diverse con-
stituency of prospects for the portfolio.
Millerd would not discuss pricing, but
sources maintain the target will be essen-
tially the same as before, roughly from $90
million to $100 million. n