The Real Reporter August 6, 2010 Issue

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Cape Win

MASHPEE — C.Talanian Realty isbest known for its dominating pres-ence as a commercial landlord onBoston’s renowned NewburyStreet, but the venerable family runreal estate firm has carved out ahefty retail niche here on Cape Codduring the past decade as developerof South Cape Village. The multi-phase, 160,000-sf shopping center onRoute 28 today offers year-roundersand summer tourists alike a varietyof consumer choices from Dunkin’Donuts, Marshall’s and OlympiaSports to a Roche Bros.Supermarket and SovereignBank. “It has become a key corner,”acknowledges President Charles

THE REAL REPORT

THIS WEEK’S ISSUEGranite Slate . . . . . . . . . . . . . . . . . . . 2Loan in Store. . . . . . . . . . . . . . . . . . . 3Square Deal . . . . . . . . . . . . . . . . . . . 3Medfield Millions . . . . . . . . . . . . . . . 10Speedy Recovery . . . . . . . . . . . . . . . 18 NEEDHAM — Another New

Boston Fund commercialbuilding has undergone an

ownership shift change, this onethe prominent 254 Second Ave.flex/office property that serves ashome to GateHouse Media.Although the communicationgroup’s lease is expiring, buyerMark H. Rubin of Maric Inc.expresses confidence over his pur-chase Thursday of the 86,000-sf

continued on page 4

AUGUST 5, 2010

Your Source for Commercial Real Estate News

NATICK — They had Michael Price at “Hello.”In recounting the springtime cold call that

led to Price’s Waltham-based Legacy RealEstate Ventures buying 11 Huron Dr. last week for$3.5 million, Parsons Commercial Group principalRichard Putprush explains he was certain the two-story, 30,000-sf office building would be a goodmatch for the veteran investor, so much so thatPrice was the first prospect contacted when PCGopted to quietly test the sales waters for an asset ithas owned since October 2005.

Price is Right for Parsons in $3.5M Deal

BY JOE CLEMENTS

BOSTON — New England’s industrialreal estate landscape has beensoaked by a torrent of economic

upheaval since 2008, but even though thetempest has seemingly ebbed,some local experts fear unsettledconditions will threaten indefi-nitely.

“It remains pretty rough fordevelopers, investors and ownersof industrial real estate,” Grubb &Ellis SVP Brad Spencer says inassessing the first half of 2010.

“There is still a fair amount of turmoil, andthe outlook for this year is not that rosy.”G&E’s Boston team has even amassed fivereasons that portend a protracted recov-ery. Anemic consumer spending, high

unemployment and NewEngland’s light lineage as a distri-bution hub are among the quintetof quandaries facing industrialproperties regionally, offersSpencer. Much of the inventorythat does exist is obsolete totoday’s requirements, he adds,

‘Turmoil’ Keeps Industrial on Edge

254 Second Ave., Needham MA

11 Huron Dr., Natick MA

continued on page 17

continued on page 5

Brad Spencer


First on its List, Maric Secures254 Second Ave. in $9M Trade

South Cape Village, Mashpee MA

2 THE REAL REPORTER August 5, 2010

SALEM, NH—Fresh off the $5.3 millionsale of a 78-unit multifamily commu-nity in Raymond, Apartment Realty

Advisors has issued a call for offers on asecond Granite State listing, this one aTIAA-CREF-owned property situatedhere on the Massachusetts border. ARA’sNortheast team of Stephen Ordway,Richard Robinson and Terence M. Scott is

marketing CarltonOaks, a 112-unit com-plex offering on-siteamenities such as amodern fitness centerand pool. “This is theonly new apartmentcommunity in this sub-market in 25 years,”

says Scott, with the project having beenconstructed in 2004.

Among the country’s largest pensionfunds, TIAA-CREF’s involvement exempli-fies the pedigree of Carlton Oaks, relaysScott, as do rental rates of $1,300 permonth for the development’s main offering,two-bedroom, two-bath units sporting indi-

vidual washers and dryers. “No place elsearound there has that,” says Scott, with 96of the units in that category. The remainderare one-bedroom apartments that fetchbetween $1,100 and $1,150 per month.

Occupancy of Carlton Oaks is at 96 percent.On the sale of Canterbury Commons,

ARA delivered more than $68,000 per uniton behalf of its client, AspinSquare Inc.

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ARA Team Nearing Second NH Multifamily Trade


Carlton Oaks, Salem NH

Terence M. Scott

BOSTON — A.W. Perry has announced that GEN3 Partnershas signed up for 6,000 sf at Twenty Winthrop Sq., an his-toric office building in the city’s Financial District. A busi-

ness consulting firm, GEN3 Partners will be moving next monthto the second floor of the five-story, 30,000-sf property fromnearby Post Office Square.

August 5, 2010 THE REAL REPORTER 3

HAVERHILL — Sidney J. Spiegel, vice president of NE MovesMortgage, Commercial Division, recently arranged a$4,854,000 purchase loan for Quadrant Haverhill Real Estate

LLC. The loan was funded by People’s United Bank of Worcester.The funds were used to acquire a stand-alone retail property

at 150 Lafayette Sq. in Haverhill with a long-term lease in place to CVS. The asset isenhanced by a triple-net lease that extends foranother 23 years, with increases in the cashflow every five years.

According to Spiegel, the lender was awareof the creditworthiness of the tenant and wasable to provide the borrower with a 20-year,self-liquidating note at 5.5 percent. People’s

United also realized the value of stabilized real estate as a viableoption for investors in an otherwise unsettled real estate environ-ment, he adds.

Managed by Marvin Smith, Quadrant Haverhill Real EstateLLC paid $6.47 million for the property, as previously outlined byThe Real Reporter. Robert Horvath and Todd Tremblay ofMarcus & Millichap negotiated the sale on behalf of the proper-ty’s developer, Hecht Development of Concord.

Based in Waltham, NE Moves Mortgage works with union pen-sion plans, insurance companies, conduits, commercial banks andlocal savings banks to provide its clients competitive rates andterms for all types of commercial real estate, including retail. n

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M. Talanian, estimating that occupancyis approaching 90 percent and relayingthat Marshall’s just announced a 13 per-cent gain in sales for the unit compared tolast year.

Further boosting the festive atmos-phere comes South Cape Village’s latestarrival, a 14,000-sf Walgreens slated toopen its doors over the weekend. “We areexpecting good things from them,”Talanian says in welcoming the country’slargest pharmacy chain to the project thatis one structure removed from full com-pletion.

The timing would seem to be prescient,with market watchers reporting thatWalgreens is curtailing its once-ambitiousexpansion program. Possessing a long-term lease, such issues would be of littleconcern to South Cape Village’s owner andthe locals who turned out last week for acelebration of the store’s imminent open-ing.

Some 80 people gathered to fete theproject’s completion, joining three genera-tions of the Talanian family along with

staffers such as Chief Operating OfficerDavid Coughlan and Melinda Gallant.Members of the property’s real estate

team were on hand as well, includingEllen Lee, credited for working along

The Real Reportcontinued from page 1

Members of the extended Talanian family gathered last week to celebrate the opening of a Walgreensat South Cape Village in Mashpee. From L-R: Chris Talanian, Nevart Talanian, Charles Talanian, GailO’Reilly and Richard O’Reilly



“It fit Legacy’s profile perfectly,” Putprush relays, citing ele-ments such as steady cash flow, a prime local location, and theopportunity to add value. “I’ve done business with Michael for20 years, and I know what he likes,” says Putprush. “And I wasalso sure he could perform and get it done.”

Price voices similar reasons for immediately focusing hisattention on 11 Huron Dr., crediting the PCG team for provid-ing the information early to enable his company to make a com-mitment soon after the investigation commenced.

The trust factor ultimately paid off, so much so thatPutprush notes the entire process from the initial contact to

closing was completed within 100 days,including Legacy’s successful effort to securefinancing in the form of a $2.45 million mort-gage from Middlesex Savings Bank.

The lender was doing its first deal withLegacy, having been introduced throughPCG. Michael P. Hart of the bank’s commer-cial lending division “led the charge,” saysPrice, and according to Putprush, the out-come there offers further proof of Legacy’sreputation and its strategy for taking on 11Huron Dr., which is presently full but will belosing one tenant occupying 5,400 sf over thenear term. “They are very selective,”Putprush says of Middlesex Savings Bank.

According to Putprush, the space comingavailable could be seen as much as an oppor-tunity as a crisis for Legacy. “It will allow

Michael to work some of his magic,” says Putprush. Theprospect of upside was one factor in identifying Legacy as apossible buyer, relays Putprush, as well as a tenant mix that fitsPrice’s experience in leasing to child care and medical opera-tions, both of which are represented in 11 Huron Dr.

Had a deal with Legacy not worked out, Putprush says PCGcould have refinanced the building that it purchased for $2.65million, part of the group’s own eclectic portfolio of commercialassets in Greater Boston. Having gone the sales route, however,“we were glad to get it done,” says Putprush, with the companyinvolved in plenty of other action at present. “We’re very busy,”says Putprush, who declined to discuss other potential transac-tions in the works.

As for 11 Huron Dr., Legacy has retained Eastport RealEstate to manage the building and is considering potential leas-ing agents. Price concurs with other investors weighing poten-tial deals that quality product is difficult to identify and expec-tations on challenged assets have been hard to justify. “I wasfortunate to have been selected by Rick to take a look at this,”he says of the Natick building. For Putprush, the final outcomewas no surprise. “When Michael locks on, he locks on and does-n’t let up,” he says of Price. n

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Price is Rightcontinued from page 1

Richard Putprush

Michael Price

FEEDBACK TO: [email protected]


A U G 2 N D

MORTGAGE: $115,000,000 from WellsFargo Bank NAADDRESS: Avenue de Lafayette and ChauncyStreet, BostonBORROWER: CHSP Boston LLC and CHSP TRSBoston LLC, c/o Chesapeake Lodging TR

MORTGAGE: $25,500,000 from CIBCADDRESS: 319 Speen St. and 1360 WorcesterSt., Natick; and 30 Washington St., SomervilleBORROWER: DDH Hotel Natick/Speen LLC,DDH Hotel Natick/Worcester LLC and DDHHotel Somerville LLC

MORTGAGE: $5,062,500 from TD BankADDRESS: 1385 Riverdale St., Lot B, WestSpringfieldBORROWER: Balise Automotive Realty LP andBalise Real Estate Inc.

J U LY 3 0 T H

MORTGAGE: $26,000,000 from PrudentialInsurance Company of AmericaADDRESS: 75 Peterborough St., BostonBORROWER: Abbey Landmark Square LLC

MORTGAGE: $17,000,000 from LR6-A LLCADDRESS: 531 Main St., WorcesterBORROWER: Pappas Industrial Parks Inc.

MORTGAGE: $6,465,681 from Bank ofAmerica NAADDRESS: 808 Main St. and Rollstone Street,FitchburgBORROWER: Lowell Publishing Co.

MORTGAGE: $1,712,000 from ClintonSavings BankADDRESS: Richard Road and Sawtelle Road,LeominsterBORROWER: South End Woods LLC

MORTGAGE: $1,700,000 fromNeighborhood Stabilization Loan Fund LLCADDRESS: 23 Hollis St., WorcesterBORROWER: Beacon Brightly LLC

MORTGAGE: $1,644,000 from AtholSavings BankADDRESS: 22 Pearson Blvd., GardnerBORROWER: V&N Corp.

MORTGAGE: $1,600,000 from Brookline BankADDRESS: 1093 Beacon St., BrooklineBORROWER: Mark D. Blotner and LloydRosenthal

BUYER: MDF Realty LLCSELLER: Jadwhile LLCPRICE/ADDRESS: $1,350,000; 194 SouthMain St., Lot 7 and 8, MiddletonMORTGAGE: $636,000 from New EnglandCertified Development Corp.NOTES: Industrial property, constructed 1984;building size is 14,350 sf, lot size is 3.2 acres;last sold for $1,030,000 in Oct. 2001

BUYER: 99 West Street LLCSELLER: Edward H. Janos, trustee of E&E Realty TRPRICE/ADDRESS: $1,200,000; 99 West St.,MedfieldMORTGAGE: $500,000 from Edward Janosand Eloise JanosNOTES: Industrial property; building size is14,875 sf, lot size is 2.5 acres

BUYER: J&G Realty LLCSELLER: New England Heritage Property Corp.PRICE/ADDRESS: $1,160,000; 85 Bolton St.;37, 70 and 72 Broad St.; 13-15 Cross St.; and179 West Main St., MarlboroughMORTGAGE: $870,000 from StonehamSavings BankNOTES: Multiple multi-family buildings; assetslast sold for $1,134,0000 in May 2010 follow-ing foreclosure by Stoneham Savings Bank onB.B.D. Properties LLC; prior sale to B.B.D.Properties LLC for $3,169,610 in Jan. 2005

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MORTGAGE $31,000,000 from Capital OneADDRESS: 10-A, 16A, and 30 Baker Ave.,ConcordBORROWER: Normandy Concord Acquisition LLC

MORTGAGE: $15,000,000 fromNewAlliance BankADDRESS: 1 Holmes Way, MilfordBORROWER: CRP-3 Milford LLC, c/o ColonyRealty Partners

MORTGAGE: $13,000,000 from LandmarkDividend Funding LPADDRESS: 1 Dean St., NorfolkBORROWER: LD Acquisition Company LLC

BUYER: Bull 500 Realty Associates LLCSELLER: Commonwealth Center AssociatesPRICE/ADDRESS: $4,525,000; 500Cochituate Rd., FraminghamNOTES: Single-story retail property, built1972; building size is 24,850 sf, lot size is 2.7acres; seller acquired property in Dec. 2000;seller c/o Griffith Properties, Boston MA; buyerc/o Bulfinch Cos., Needham MA

BUYER: Fisher CollegeSELLER: Joseph L. Butera, trustee of ArtEducational TRPRICE/ADDRESS: $3,900,000; 111 BeaconSt., Lot A, BostonMORTGAGE: $4,000,000 from Joseph L.ButeraNOTES: Butera School of Art

MORTGAGE: $3,756,176 from EastCambridge Savings BankADDRESS: 510 and 516 East Second St.,BostonBORROWER: Frederick M. Gordon, trustee of516 City Development Realty TR

Commercial DealsMILLION DOLLAR MORTGAGES/SALES JULY 27 - AUG. 2, 2010


A single-story, 25-year-old industrial building at 99 West St. in Medfield has sold for $1,200,000to 99 West Street LLC. The 14,875-sf building sits on a 2.5 acre lot and had been owned sincethe mid-1980s by E&E Realty Trust, whose principals are Edward Janos and Eloise Janos. The sell-ers provided $500,000 in financing to 99 West Street LLC, a Millis-based entity managed byCesidio Pinciaro Jr., James Pinciaro and John Pinciaro.


A U G 2 N D

BUYER: Robert Shanahan SELLER: Andrew S. May and Jennifer S. MayPRICE/ADDRESS: $2,850,000; 27 BarnstableRd., WellesleyMORTGAGE: $1,250,000 from MerrillLynch Credit Corp.NOTES: Single-family, built 2001; house size is6,225 sf, lot size is 22,600 sf; five bedrooms and6.5 baths; last sold for $3,050,000 in July 2001

BUYER: John J. Dormer and Melissa B. DormerSELLER: Michele D. Beardslee and William C.BeardsleePRICE/ADDRESS: $2,500,000; 15 HarborView, MarbleheadNOTES: Single-family Colonial, built 1900; house sizeis 4,175 sf, lot size is 24,700 sf; five bedrooms and4.5 baths; last sold for $1,995,000 in March 2005

BUYER: Michael J. CombSELLER: Carla F. LoConte and Christopher L. LoContePRICE/ADDRESS: $2,200,000; 343Commercial St., Unit 12, BostonMORTGAGE: $1,650,000 from JPMorganChase BankNOTES: Residential unit in low-rise UnionWharf Condominium; unit size is 2,300 sf;three bedrooms and 2.5 baths; unit last soldfor $2,000,000 in Nov. 2005

BUYER: YHG Inc.SELLER: Michael D. Stillman and Steve WilliamsPRICE/ADDRESS: $2,150,000; 300 BoylstonSt., Unit-609, BostonNOTES: Residential unit in high-rise Back Baycondominium; unit size is 2,100 sf; five bed-rooms, two baths and 2.5 baths; unit last soldfor $1,700,000 in Nov. 2006

MORTGAGE: $1,900,000 from TD BankADDRESS: 15 Rockport Rd., WestonBORROWER: Carol A. Levy and Joseph L. Levy

BUYER: Julia F. Carpenter, trustee of the JuliaF. Carpenter Revocable Trust 1999SELLER: Mark B. Glovsky, trustee of the Sixty-Four Eastern Avenue Nominee TRPRICE/ADDRESS: $1,800,000; 64 EasternAve., EssexNOTES: Farm property with residence andmultiple buildings; lot size is 19.5 acres; resi-dence has four bedrooms and four baths

BUYER: Ann M. Hodgson and Samuel H. HodgsonSELLER: Casey L. Pittock and Sarah P. PittockPRICE/ADDRESS: $1,675,000; 12 TennysonRd., WellesleyMORTGAGE: $1,172,500 from MerrillLynch Credit Corp.

NOTES: Single-family Colonial, built 1930;house size is 4,050 sf, lot size is 13,075 sf; sixbedrooms and 4.5 baths; last sold for$1,715,500 in Aug. 2004

BUYER: Judith A. Pribaz and Julian J. PribazSELLER: Michael G. West, trustee of ChurchCourt CondominiumPRICE/ADDRESS: $1,600,000; 492 BeaconSt., Unit-64, BostonMORTGAGE: $1,200,000 from BNY Mellon NANOTES: Residential unit in mid-rise Church CourtCondominium; unit size is 1,675 sf; two bed-rooms and two baths; unit last sold for $391,500in Aug. 1999; Declaration of Homestead

BUYER: Charles A. Brown and Kathryn L. BrownSELLER: Jadakali LLCPRICE/ADDRESS: $1,595,000; 65 Toxteth St.,Lot B, BrooklineMORTGAGE: $200,000 and $960,000 fromRBS Citizens NANOTES: Duplex, built 1890; living space is3,750 sf, lot size is 3,775 sf; seven bedroomsand two baths; Declaration of Homestead

BUYER: Gregg M. Dixon and Sierra Gitlin SELLER: Craig M. FilmorePRICE/ADDRESS: $1,200,000; 27 NewmanRd., NewburyMORTGAGE: $375,000 and $523,750 fromWells Fargo Bank & Trust Co.

NOTES: Single-family, built 2001; house size is3,950 sf, lot size is 2.1 acres; three bedrooms and2.5 baths; last sold for $265,000 in Dec. 1999

BUYER: R. David Rauh and Robert G. RauhSELLER: Woodlands at Belmont Hill LLCPRICE/ADDRESS: $1,150,000; 6 Summit Rd.,Unit-53, BelmontNOTES: Residential unit in the Woodlands atBelmont Hill condominium

BUYER: Karen Gallucci and Marc GallucciSELLER: Gary Dragoon and Diane E. YoungPRICE/ADDRESS: $1,075,000; 55 WellesleySt., WestonMORTGAGE: $860,000 from DanversbankNOTES: Single-family; house size is 4,250 sf;lot size is 16,325 sf; five bedrooms and 3.5baths; last sold for $1,199,000 in May 2005;Declaration of Homestead

BUYER: Michael A. Nunes and Sarah H. NunesSELLER: Howard B. Himmel and Stephanie A.HimmelPRICE/ADDRESS: $1,070,000; 56 Ware Rd.,Lot 20, NeedhamMORTGAGE: $856,000 from MonumentMortgageNOTES: Single-family Cape, built 2000; house sizeis 3,650 sf, lot size is 9,000 sf; five bedrooms andthree baths; last sold for $795,000 in Dec. 2000

Residential DealsMILLION DOLLAR MORTGAGES/SALES JULY 27 - AUG. 2, 2010

continued on page 8

A seven-year-old Colonial at 6 Aristotle Dr. in Winchester is under new ownership following its purchasefor $1,550,000 by Caroline Goria and Vincent J. Goria from Katalin M. Simon and Michael K. Simon. RBSCitizens provided a $1,240,000 mortgage to back the acquisition. The 6,275-sf, six-bedroom home lastsold for $1,795,000 in Sept. 2004.


BUYER: Asit ParikhSELLER: Daniel M. Whitney and Janice C.Whitney, trustees of Whitney Realty TRPRICE/ADDRESS: $1,060,000; 22R RevereSt., LexingtonMORTGAGE: $795,000 from AstoriaFederal Mortgage Corp.NOTES: Single-family Colonial, built 2000;house size is 3,075 sf, lot size is one acre; fourbedrooms and two baths

MORTGAGE: $1,000,000 from JPMorganChase BankADDRESS: 47 Pinecroft Rd., WestonBORROWER: Beth Kressley Goldstein

MORTGAGE: $1,000,000 from BNY Mellon NAADDRESS: 7 Barnegat Ln., MarbleheadBORROWER: Kathleen W. Mazonson and PaulM. Mazonson

J U LY 3 0 T H

BUYER: Richard J. Glidden, trustee of 90 MainStreet Realty TRSELLER: Kathryn H. Clauss and Roy S. ClaussPRICE/ADDRESS: $5,650,000; 90 Main St.,NantucketNOTES: Single-family Mansion, built 1832;house size is 5,125 sf, lot size is 10,500 sf; fivebedrooms, five baths and two half-baths; lastsold for $3,556,045 in Oct. 2005

BUYER: Gregory L. Geiser and Nancy D. GeiserSELLER: Nancy B. McGovern and Robert J. McGovernPRICE/ADDRESS: $3,844,400; 32 Walsh St.,Lot 4, NantucketMORTGAGE: $2,000,000 from FirstRepublic BankNOTES: Single-family Custom design, built2005; house size is 3,500 sf, lot size is 9,000sf; four bedrooms and 4.5 baths; last sold for$1,700,000 in June 2004

BUYER: Jean H. NoonanSELLER: David Ogens and Locke Wallace OgensPRICE/ADDRESS: $3,100,000; 37 WebsterRd., WestonMORTGAGE: $100,000 and $2,000,000 fromJPMorgan Chase BankNOTES: Single-family, built 1927; house size is4,525 sf, lot size is 1.4 acres; four bedrooms andfive baths; last sold for $1,125,000 in Oct. 1999

BUYER: Ellie Choi and Kendrick ChowSELLER: Thomas C. Bailey, trustee of 375Beacon Street Realty TR

PRICE/ADDRESS: $2,656,000; 375 BeaconSt., BostonMORTGAGE: $490,000 from Citibank NAand $1,900,000 from CitiMortgageNOTES: Single-family brick Row house; house sizeis 4,775 sf, lot size is 2,125 sf; four bedrooms and3.5 baths; last sold for $2,550,000 in Sept. 2008

BUYER: Elizabeth G. NabelSELLER: Sally R. BeckermanPRICE/ADDRESS: $2,550,000; 110 YarmouthRd., BrooklineMORTGAGE: $2,550,000 from JPMorganChase Bank NANOTES: Single-family Cape, built 1950; house sizeis 3,700 sf, lot size is 1.1 acres; five bedrooms and4.5 baths; seller’s ownership dates to May 1954

BUYER: Stephen WolfbergSELLER: Nancy A. HuntingtonPRICE/ADDRESS: $2,300,000; 52 BrimmerSt., BostonNOTES: Single-family brick Row house; housesize is 3,325 sf, lot size is 1,100 sf; three bed-rooms and three baths; seller’s ownershipdates to Oct. 1962

BUYER: Loretta T. Attardo and Ralph J. Rotman SELLER: Arthur Day and Dana Day, trustees of330 Beacon Street CondominiumPRICE/ADDRESS: $2,141,500; 330 BeaconSt., Unit-31, BostonMORTGAGE: $1,500,000 from BNY Mellon

NOTES: Residential unit in high-rise Back Baycondominium; unit size is 2,150 sf; five bedroomsand two baths; unit last sold for $1,350,000 inJan. 2009; Declaration of Homestead

BUYER: Christopher Casgar and Kirsten CasgarSELLER: 75Pilgrim LLCPRICE/ADDRESS: $1,938,115; 75 PilgrimRd., Lot 104, WellesleyMORTGAGE: $1,550,492 from GeorgetownSavings BankNOTES: Single-family Colonial, built 2010; housesize is 5,700 sf, lot size is 14,000 sf; four bedrooms,four baths and two half-baths; property last sold for$700,000 in Oct. 2009; Declaration of Homestead

BUYER: James B. Ronald and Susan G. RonaldSELLER: Jill E. Tedeschi, trustee of 145 BeachStreet Realty TRPRICE/ADDRESS: $1,795,000; 145 Beach St.,CohassetMORTGAGE: $1,000,000 from Sovereign BankNOTES: Single-family, built 1972; house size is4,350 sf, lot size is 20,000 sf; three bedroomsand 3.5 baths; last sold for $1,075,000 in June2002; Declaration of Homestead

BUYER: Erica A. Recht and Marc A. RechtSELLER: Joseph R. Lavelle and Kate S. LavellePRICE/ADDRESS: $1,675,000; 54 SuffolkRd., Lot 302, WellesleyMORTGAGE: $1,100,000 from ING Bank FSB


continued from page 7

continued on page 9

Melissa A. Warneck has purchased 30 Fairlawn Ln. in Lexington from Christopher J. Ellmore and KathleenM. Ellmore for $1,062,500, financed by a $796,895 loan from CitiMortgage. The 4,250-sf, five-bedroomCape last sold for $730,000 in April 2006.

NOTES: Single-family, built 1953; house size is5,450 sf, lot size is 20,625 sf; four bedroomsand 4.5 baths; last sold for $1,675,000 in Oct.2006; Declaration of Homestead

BUYER: Caroline Goria and Vincent J. GoriaSELLER: Katalin M. Simon and Michael K. SimonPRICE/ADDRESS: $1,550,000; 6 Aristotle Dr.,WinchesterMORTGAGE: $1,240,000 from RBS CitizensNOTES: Single-family Colonial, built 2003; housesize is 6,275 sf, lot size is 20,850 sf; six bed-rooms and 4.5 baths; last sold for $1,795,000 inSept. 2004; Declaration of Homestead

BUYER: Christina R. Joseph and Jonathan P. JosephSELLER: Joan M. Zaiger and Ronald S. ZaigerPRICE/ADDRESS: $1,550,000; 16 Fair OaksPk., Lot 3, NeedhamMORTGAGE: $1,162,500 from RocklandTrust Co.NOTES: Single-family Colonial, built 2005;house size is 4,600 sf, lot size is 14,000 sf;four bedrooms and three baths; last sold for$1,580,000 in Oct. 2005; Declaration ofHomestead

BUYER: Moon Owl RealtySELLER: Eliot E. Macy, trustee of OspreyRealty TR and Carolyn W. Spengler andAlexandra West, Executrixes under the Will ofIsabel WestPRICE/ADDRESS: $1,525,000; 448 HerringCreek Rd., TisburyNOTES: Single-family, built 1832; house size is1,925 sf, lot size is 1.8 acres; two bedroomsand two baths; seller’s ownership dates to May1970

BUYER: Tara J. Hamilton and Gregory A. MillerSELLER: Kristin Rushmore and StephenRushmorePRICE/ADDRESS: $1,500,000; 61 EmersonRd., WinchesterMORTGAGE: $1,200,000 from BostonPrivate Bank & Trust Co.NOTES: Single-family Colonial, built 2003;house size is 5,300 sf, lot size is 20,025 sf;four bedrooms and 4.5 baths; last sold for$1,600,000 in Nov. 2006; Declaration ofHomestead

MORTGAGE: $1,485,000 from PentagonFederal Credit UnionADDRESS: 120 Plain Rd., WaylandBORROWER: Laura A. Malnight and Richard J.Malnight

BUYER: Jonathan Lipnick, Jeffrey JonasScheuer and Marjorie P. Scheuer, trustees ofthe Trust for the Primary Benefit of JeffreyJonas ScheuerSELLER: Carly Look, Samantha Look andKristian S. StromPRICE/ADDRESS: $1,425,000; 61 Road toGreat Neck, West TisburyMORTGAGE: $910,000 from JPMorganChase Bank NANOTES: Single-family, built 1982; house size is1,800 sf, lot size is 21 acres; three bedrooms and1.5 baths; last sold for $1,685,000 in June 2006

BUYER: Bernadette Geis and Charles GeisSELLER: DKL Realty Investment LLCPRICE/ADDRESS: $1,415,000; 41 FellsmereRd., NewtonMORTGAGE: $990,000 from Sovereign BankNOTES: Single-family Colonial, built 1927;house size is 3,800 sf, lot size is 8,000 sf; fivebedrooms and 3.5 baths; last sold for$900,000 in Dec. 2009

BUYER: Leanne Chase and Laurence SaxSELLER: Charles A. Brown III and Kathryn I.Brown and Chestnut Place CondominiumPRICE/ADDRESS: $1,385,000; 142 ChestnutSt., Unit-1, Boston

MORTGAGE: $1,108,000 from BostonPrivate Bank & Trust Co.NOTES: Residential unit in mid-rise BeaconHill condominium; unit size is 2,275 sf; twobedrooms and 2.5 baths; unit last sold for$975,000 in April 2001; Declaration ofHomestead

BUYER: Hong Guo and Yanlong ZhangSELLER: Kimberly KarofskyPRICE/ADDRESS: $1,350,000; 7 MacArthurRd., Lot 14, WellesleyMORTGAGE: $800,000 from ING Bank FSBNOTES: Single-family Colonial, built 2005;house size is 4,525 sf, lot size is 9,000 sf; sixbedrooms and 4.5 baths; last sold for$1,525,000 in March 2005

BUYER: Geneen Stuart and Oris Stuart*SELLER: Juel L. Rubin and Paul D. RubinPRICE/ADDRESS: $1,300,000; 37 GreystoneLn., Lot 158, SudburyMORTGAGE: $1,000,000 from Webster BankNANOTES: Single-family Colonial, built 1997;house size is 5,900 sf, lot size is one acre; fourbedrooms and 5.5 baths; seller’s ownership inproperty dates to Sept. 1961





NE Moves Mortgage has provided $834,375 in financing to Alison Chang and Albert Kwak to enabletheir purchase of 122 Grant St. in Lexington. The new single-family Colonial features 4,200 sf with fourbedrooms and 4.5 baths and sits on a quarter-acre lot close to Massachusetts Avenue. The seller is 122Grant Street LLC, an entity managed by Christopher R. Thornton of Danvers.


BUYER: Diane E. Grogan and Joseph P. GroganSELLER: Michael E. Lynch and Sandra M.Lynch, trustees of Mul & SML Realty TRPRICE/ADDRESS: $1,150,000; 90 Forbes Rd.,MiltonMORTGAGE: $417,000 from Bank of America NANOTES: Single-family, built 1858; house size is1,925 sf, lot size is 41,000 sf; three bedroomsand 1.5 baths; last sold for $225,000 in Aug.1996; Declaration of Homestead

BUYER: John J. Starvish, trustee of Peloton Realty TRSELLER: Stefan P. Filipowski and BarbaraPhillips, a/k/a Barbara Philips, Co-Executors ofthe Estate of Richard E. FilipowskiPRICE/ADDRESS: $1,150,000; 10 Round HillRd., LexingtonMORTGAGE: $1,500,000 from John J.Starvish and Shelley VanderweilNOTES: Single-family Colonial, built 1900;house size is 2,825 sf, lot size is 1.6 acres; fivebedrooms and four baths; seller’s family own-ership in property dates to Aug. 1962

BUYER: Sheryl F. Adler and William R. AdlerSELLER: Erica B.A. Recht and Marc A. RechtPRICE/ADDRESS: $1,150,000; 81 UniversityRd., Lot A, BrooklineMORTGAGE: $383,000 and $417,000 fromBoston Private Bank & Trust Co.NOTES: Single-family, built 1997; house size is2,475 sf, lot size is; four bedrooms, three bathsand two half-baths; last sold for $870,000 inAug. 2003; Declaration of Homestead

MORTGAGE: $1,150,000 from NorthstarMortgage Corp.ADDRESS: 74 Richard Rd., Lot 55, NeedhamBORROWER: Stanislava Portnoy and Gary Potagal

BUYER: Laurie Haig and Scott HaigSELLER: Kyung-Ae Kim Hahn and Steve Syng-Hi HahnPRICE/ADDRESS: $1,121,000; 7 Trinity Ct.,Lot 185A, WellesleyMORTGAGE: $896,800 from MonumentMortgageNOTES: Single-family Colonial, built 1964;house size is 2,400 sf, lot size is 20,875 sf; fourbedrooms and 2.5 baths; last sold for $165,500in Dec. 1979; Declaration of Homestead

BUYER: Matthew Stevens and Tara L. StevensSELLER: Bradley J. BraufmanPRICE/ADDRESS: $1,100,000; 2160Massachusetts Ave., Unit-2160, LexingtonMORTGAGE: $300,000 from CapstoneMortgage and $523,750 from MSA Mortgage

NOTES: Residential unit in converted single-family property; unit size is 3,750 sf, lot size is5,000 sf; six bedrooms and 2.5 baths; unit lastsold for $1,217,000 in June 2000

BUYER: Geeta Aiyer and Kamesh AiyerSELLER: Jon M. Biotti and Leslie A. JengPRICE/ADDRESS: $1,075,500; 11 MagazineSt., Unit-11B, CambridgeNOTES: Single-family Victorian, built 1843; housesize is 5,300 sf, lot size is 3,675 sf; seven bed-rooms and 6.5 baths; Declaration of Homestead

BUYER: Melissa A. WarneckSELLER: Christopher J. Ellmore and KathleenM. EllmorePRICE/ADDRESS: $1,062,500; 30 FairlawnLn., LexingtonMORTGAGE: $796,895 from CitiMortgageNOTES: Single-family Cape, built 1955; house sizeis 4,250 sf, lot size is one acre; five bedrooms and3.5 baths; last sold for $730,000 in April 2006

BUYER: Bethany G. Colavincenzo and John P.ColavincenzoSELLER: Christopher Casgar and Kirstin K. CasgarPRICE/ADDRESS: $1,050,000; 40 ClevelandRd., WellesleyNOTES: Single-family Colonial; house size is2,800 sf, lot size is 10,025 sf; four bedroomsand 2.5 baths; last sold for $1,023,650 inAug. 2005; Declaration of Homestead

BUYER: Sumita Manwani and Vijay ManwaniSELLER: Anne L. Thomas and Robert H. ThomasPRICE/ADDRESS: $1,025,000; 28 BurroughsRd., LexingtonNOTES: Single-family, built 1952; house size is1,925 sf, lot size is 30,000 sf; three bedrooms and2.5 baths; seller’s ownership dates to Aug. 1972

BUYER: Trina Realmuto and Kevin SmithSELLER: Carolyn T. Spencer and Lindo T.SpencerPRICE/ADDRESS: $1,015,000; 151Longwood Ave., Unit-1, BrooklineMORTGAGE: $790,000 from CitiMortgageNOTES: Single-family brick Row house; unitsize is 1,450 sf; four bedrooms and two baths;unit last sold for $850,000 in July 2008

BUYER: Joan M. Zaiger and Ronald S. ZaigerSELLER: Catherine M. McCarthy and John F.McCarthyPRICE/ADDRESS: $1,012,500; 267 MarkedTree Rd., Lot 1G, NeedhamMORTGAGE: $500,000 from FranklinAmerican MortgageNOTES: Single-family Colonial, built 2007;house size is 3,225 sf, lot size is 9,000 sf; fourbedrooms and 2.5 baths; last sold for$1,100,000 in June 2007; Declaration ofHomestead




A single-family, 4,850-sf property situated on 3.3 acres at 6 Preservation Way in Medfield has beenacquired for $1,197,500 by Barbara A. Martino and Michael A. Martino. Sellers Gary Foster and PatriciaFoster had owned the 15-year-old property since paying $765,000 in May 1997. The Martinos securedfinancing of $375,000 from Cabot Corp. and $523,750 from Wells Fargo Bank.


MORTGAGE: $1,000,000 from Needham BankADDRESS: 42 College Rd., NatickBORROWER: Angela M. Snyder and John D.Snyder

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BUYER: David T. Carson, trustee of RangerNominee Realty TRSELLER: William T. EnglishPRICE/ADDRESS: $3,575,000; 70 BrimmerSt., Unit-238, and 81 Chestnut St., BostonNOTES: 70 Brimmer St., Unit-238 sold for$200,000 in March 207; property a parkingspot; price paid for parking spot $225,000;space last sold for $200,000 in March 2007;81 Chestnut St. last sold for $2,900,000 inMarch 2007; lot size is 1,500 sf

BUYER: Barton F. Graf Jr. and Kristine M. Graf*SELLER: Karen B. Watson and Stuart H. WatsonPRICE/ADDRESS: $2,650,000; 3 Abbott Rd.,LexingtonMORTGAGE: $1,590,000 from ING BankNOTES: Single-family Colonial, built 1910;house size is 6.800 sf, lot size is 30,000 sf;five bedrooms, three baths and three half-baths; last sold for $2,250,000 in June 2005;Declaration of Homestead

BUYER: Safi KaloSELLER: Janet S. Davie and Joseph M. DaviePRICE/ADDRESS: $2,031,250; 75-83Cambridge Pkwy., Unit-W709, CambridgeNOTES: Residential unit in high-rise condo-minium property; unit size is 2,000 sf; twobedrooms and two baths; unit last sold for$1,850,000 in Feb. 2007; purchase includestwo parking spaces

BUYER: Meirav Zaks-Zilberman and Tal ZaksSELLER: James R. McCall and Joan M. MurosPRICE/ADDRESS: $1,735,000; 122 BellevueSt., NewtonMORTGAGE: $1,388,000 from Wells Fargo BankNOTES: Single-family Tudor, built 1935; housesize is 4,825 sf, lot size is 18,950 sf; four bed-rooms and 4.5 baths; last sold for $621,000 inAug. 1994; Declaration of Homestead

BUYER: Daniel Lima Jr. and Sanja Percac-LimaSELLER: Jonathan H. HerlihyPRICE/ADDRESS: $1,500,000; 34 HarvardSt., CharlestownMORTGAGE: $1,125,000 from TD Bank NANOTES: Two-family brick Row house; livingspace is 3,275 sf, lot size is 1,300 sf; last soldfor $360,000 in April 1994 via foreclosure deed

BUYER: Desmond A. Havlicek and Jennifer R.HavlicekSELLER: Sara C. Tague, trustee of TagueCohasset Realty TRPRICE/ADDRESS: $1,425,000; 101 AtlanticAve., CohassetMORTGAGE: $375,000 from USAllianceFederal Credit Union and $523,750 fromMortgage NetworkNOTES: Single-family, built 1950; house size is3,175 sf, lot size is 20,000 sf; six bedroomsand 2.5 baths; sellers acquired property for$82,000 in June 1976

BUYER: Elizabeth C. Nassikas and Lewis A.Nassikas Jr.SELLER: Joan Glass Morgan and Judy Glass,a/k/a Judy Glass Shanes, trustees of 61Sheffield Road Nominee TRPRICE/ADDRESS: $1,300,000; 61 SheffieldRd., NewtonMORTGAGE: $76,250 and $523,750 fromWells Fargo BankNOTES: Single-family Tudor, built 1929; housesize is 3,200 sf, lot size is 32,250 sf; three bed-rooms and 3.5 baths; seller’s family ownershipdates to June 1967

BUYER: Tina A. Cassidy and Anthony E. FlintSELLER: Paul R. Gauron, Executor of theEstate of Anastasia S. DavisPRICE/ADDRESS: $1,235,200; 254 WalnutSt., BrooklineMORTGAGE: $1,175,625 from BrooklineBankNOTES: Single-family, built 1890; house size is3,325 sf, lot size is 3,450 sf; six bedrooms and2.5 baths; seller’s family ownership dates toJune 1939

BUYER: Ivana Magovcevic-LiebischSELLER: Henry D. Vara IIIPRICE/ADDRESS: $1,171,000; 208 CollinsRd., Lots 6A and 7, NewtonMORTGAGE: $117,000 and $877,500 fromU.S. Bank Home MortgageNOTES: Single-family Tudor, built 1932; housesize is 3,600, lot size is 19,200 sf; six bed-rooms and 3.5 baths; last sold for $837,500 inNov. 2002; Declaration of Homestead

BUYER: PRM LLCSELLER: Barbara M. Mix, trustee of 18Muzzey Street Realty TRPRICE/ADDRESS: $1,140,000; 18 MuzzeySt., LexingtonNOTES: Two-story office building, constructed1900; building size is 4,775 sf, lot size is12,250 sf; last sold for $635,000 in Dec. 1992

BUYER: Alison Chang and Albert Kwok*SELLER: 122 Grant Street LLCPRICE/ADDRESS: $1,112,500; 122 Grant St.,LexingtonMORTGAGE: $834,375 from NE MovesMortgageNOTES: Single-family Colonial, built 2010;house size is 4,200 sf, lot size is 10,950 sf;four bedrooms and 4.5 baths; property lastsold for $400,000 in Sept. 2009; Declarationof Homestead

BUYER: Barbara A. Martino and Michael A.MartinoSELLER: Gary F. Foster and Patricia M. FosterPRICE/ADDRESS: $1,197,500; 6 PreservationWay, Lot 8, MedfieldMORTGAGE: $325,000 from Cabot Corp.and $523,750 from Wells Fargo BankNOTES: Single-family European Manor style,built 1995; house size is 4,850 sf, lot size is3.3 acres; five bedrooms and 5.5 baths; lastsold for $765,000 in May 1997; Declaration ofHomestead

BUYER: Christopher Malloy and Molly MalloySELLER: Adam C. Erickson, a/k/a Adam EriksonPRICE/ADDRESS: $1,190,000; 40Cedarwood Rd., Jamaica PlainMORTGAGE: $242,500 from Wells FargoBank NANOTES: Single-family Colonial; house size is2,875 sf, lot size is 8,750 sf; four bedrooms,three baths and two half-baths; last sold for$579,000 in May 2000; Declaration ofHomestead

MORTGAGE: $1,000,000 from BNY Mellon NAADDRESS: 156 Orange St., Lot 1, NantucketBORROWER: Louise Goldberg

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BUYER: Bryan Kevin Meehan and Tara CorinaMeehan, trustees of Staderas TRSELLER: Susan L. Baker and Michael R. LynchPRICE/ADDRESS: $7,250,000; 1039 MainSt., TisburyNOTES: Single-family, built 1910; house size is4,325 sf, lot size is 21,750 sf; seven bedrooms,four baths and two half-baths; last sold for$1,900,000 in Dec. 1994

MORTGAGE: $4,500,000 from BostonPrivate Bank & Trust Co.ADDRESS: 40 Low Beach Rd., Lots 7, 23 and34, NantucketBORROWER: George A. Cloutier





BUYER: John T. Hodgkins and Victoria G. HodgkinsSELLER: Dolly H. Denyse and Mark W. DenysePRICE/ADDRESS: $2,500,000; 120 PembrokeSt., BostonMORTGAGE: $500,000 from Bank ofAmerica NANOTES: Two-family brick Row house; livingspace is 4,500 sf, lot size is 1,500 sf; last soldfor $2,523,900 in Oct. 2007

MORTGAGE: $1,863,000 from JPMorganChase BankADDRESS: 328 Clapboardtree St., WestwoodBORROWER: David D. Ayles and Honoria C.Ayles

MORTGAGE: $1,400,000 from BNY MellonADDRESS: 40 Rochester Rd., NewtonBORROWER: Alfred W. Sandrock Jr.

BUYER: Kim L. Whittemore and William E.WhittemoreSELLER: Lot 7 Real Estate LLCPRICE/ADDRESS: $1,395,000; 2 StratfordTer., Lot 7, CohassetNOTES: Single-story Dutch Gambrel, built2007; house size is 4,775 sf, lot size is 41,000sf; four bedrooms and 3.5 baths; property lastsold for $575,000 in July 2007

MORTGAGE: $1,200,000 from Brookline BankADDRESS: 250 Boylston St., Unit-3B, BostonBORROWER: C. Susan Shief

BUYER: Richard Briansky and Sharon BrianskySELLER: Andrew Pearce and Sayuri PearcePRICE/ADDRESS: $1,195,000; 24 KodayaRd., NewtonMORTGAGE: $523,750 from CambridgeMortgage GroupNOTES: Single-family Tudor, built 1935; housesize is 4,075 sf, lot size is 11,175 sf; five bed-rooms and 3.5 baths; last sold for $610,000 inAug. 1999; Declaration of Homestead

BUYER: Giles F. Whalen and Lynn B. WhalenSELLER: Anthony D. Prigmore and Julie A.PrigmorePRICE/ADDRESS: $1,160,000; 21 WinwoodRd., SuttonMORTGAGE: $417,000 from Bank ofCantonNOTES: Single-family; house size is 5,100 sf,lot size is 3.4 acres; five bedrooms and 3.5baths; last sold for $631,500 in July 1996;Declaration of Homestead

BUYER: Tara Ashe and Thomas AsheSELLER: Anne S. Wilkerson and Bret R.WilkersonPRICE/ADDRESS: $1,150,000; 17 RichlandRd., Lot 84, WellesleyMORTGAGE: $805,000 from ING Bank FSBNOTES: Single-family; house size is 2,625 sf,lot size is 10,150 sf; four bedrooms and 2.5baths; last sold for $950,000 in May 2005;Declaration of Homestead

MORTGAGE: $1,095,000 from Leader BankADDRESS: 26 Cerulean Way, WestonBORROWER: Wayne L. Stoner

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BUYER: Sarasina Sulijoadikusumo and MichaelTuchenSELLER: Carlton CabotPRICE/ADDRESS: $3,750,000; 126Woodland Rd., Lot 2A, BrooklineMORTGAGE: $1,500,000 from FirstExcelsior Corp.NOTES: Single-family Colonial, built 2004;house size is 8,475 sf, lot size is one acre; sixbedrooms, six baths and two half-baths; lastsold for $5,500,000 in June 2006; Declarationof Homestead

MORTGAGE: $2,700,000 fromCommonwealth Cooperative BankADDRESS: 9 Claridge Rd., WestonBORROWER: John D. Meola Jr.

BUYER: Harris G. Komishane and Lauren O.KomishaneSELLER: Rollin H. Teare and Keybank NA, co-trustees of the Suzanne E. Teare TRPRICE/ADDRESS: $2,250,000; 5 EagleheadRd., Manchester-by-the-SeaMORTGAGE: $500,000 from ProspectMortgageNOTES: Single-family, built 2004; house size is2,500 sf, lot size is 23,475 sf; four bedrooms andfour baths; buyers sold 87 Pine St. in Manchester-by-the-Sea on July 15th for $775,000

BUYER: Edmund Chang and Susan SylligardosSELLER: Thomas J. Lynch and Laura M. PappanoPRICE/ADDRESS: $1,605,000; 131 Prince St.,NewtonNOTES: Single-family Victorian, built 1895;house size is 3,575 sf, lot size is 10,075 sf; sixbedrooms and 3.5 baths; last sold for$440,000 in June 1993; Declaration ofHomestead

MORTGAGE: $1,490,000 from JPMorganChase BankADDRESS: 220 Ridgeway Rd., WestonBORROWER: Alan M. Gardner Jr. and Laryn I.Gardner

MORTGAGE: $1,400,000 from SovereignBankADDRESS: 100 Belvidere St., BostonBORROWER: Raymond W. Braun and TheresaP. Braun, trustees of Theresa P. BraunRevocable TR

MORTGAGE: $1,360,000* from ChicopeeSavings BankADDRESS: 21 Stonegate Cir., WilbrahamBORROWER: Amy L. Pollard and James H.PollardNOTES: *Commercial mortgage for residentialproperty

MORTGAGE: $1,150,000 from WellesleyBankADDRESS: 38 Halsey Ave., Lot 85, WellesleyBORROWER: Wellesley Building AssociatesLLC

MORTGAGE: $1,077,622 from Bank ofAmerica NAADDRESS: 32 Pine St., Lot 41, WellesleyBORROWER: Christian H. Brennan and DanaD. Brennan

BUYER: Fan Lu and Mark X. YangSELLER: Ronald P. CompagnonePRICE/ADDRESS: $1,067,000; 107 ManorAve., WellesleyMORTGAGE: $850,000 from NeedhamBankNOTES: Single-family Colonial, built 2009;house size is 3,650 sf, lot size is 22,450 sf;four bedrooms, four baths and two half-baths;last sold for $1,197,616 in June 2009

BUYER: Cynthia Margolis SELLER: Irwin J. Rosenthal and Mary SueRosenthal, trustees of 48 Wachusett RoadRealty TRPRICE/ADDRESS: $1,042,600; 48 WachusettRd., NewtonNOTES: Single-family Colonial, built 1907;house size is 2,750 sf, lot size is 11,400 sf;four bedrooms and 2.5 baths; seller’s familyownership dates to July 1965; Declaration ofHomestead





“We look forward to having (GEN3Partners) here as our tenant and neigh-bor,” says A.W. Perry AVP and propertymanager Kerri Gallaway in a releaseunveiling the five-year agreement. A.W.

Perry is also headquar-tered in the building,part of the firm’s exten-sive portfolio of com-mercial properties inGreater Boston.

GEN3 Partners VPHaydar Diab was equallyebullient about the lease

commitment. “The building is well-suitedto our requirements and tastes,” says Diab,adding that “A.W. Perry’s friendly andhands-on approach to property manage-ment also was a deciding factor to us.”

GEN3 Partners was represented in thenegotiations by Jones Lang LaSalle SVPThomas O’Regan. Leasing agents for A.W.Perry were CBRE/New England SeniorAssociate Jon Freni and principal TimothyLyne. Terms of the lease were notrevealed.

CBRE/NE is now marketing a 3,000-sfoffice suite next door at 85 Franklin St.,which also has a Twenty Winthrop Sq.business address. The remaining space inthe property is 3,800 sf of ground-floorretail being listed by Schaffer & AssociatesLLP.

The lease is also welcome news for

A.W. Perry given the difficulties faced inBoston’s Financial District during the past18 months. Office vacancy rates haveincreased steadily, with Colliers Meredith& Grew pegging the current rate at 18.4percent after the inventory of 32.6 millionsf saw an alarming 1.4-million-sf of nega-tive net absorption through mid-year. n

BUYER: Legacy Huron LLCSELLER: 11 Huron Drive LLCPRICE/ADDRESS: $3,500,000; 7-11 HuronDr., Lot 257, NatickMORTGAGE: $2,450,000 from MiddlesexSavings BankNOTES: Two-story office property; building sizeis 30,000 sf; manager of 11 Huron Dr. LLC isJohn R. Parsons Jr., manager of Legacy HuronLLC is Michael L. Price

BUYER: 14 Needham Street LLCSELLER: Gloria K. RaymondPRICE/ADDRESS: $2,500,000; 14 NeedhamSt., NewtonMORTGAGE: $1,815,000 from CambridgeSavings Bank

NOTES: Single-story retail property; buildingsize is 7,025 sf, lot size is 15,525 sf; last soldfor $400,000 in Dec. 1984

MORTGAGE: $2,500,000 from RBS CitizensNAADDRESS: 21-45 Quint Ave., AllstonBORROWER: Anwar Faisal, trustee of Allston-Brighton Non-Profit Management TR

MORTGAGE: $2,000,000 from KBS DebtHoldings II LLCADDRESS: 370 West First St., BostonBORROWER: Joel B. Bard, trustee of 370West First Street Realty TR

MORTGAGE: $1,800,000 from NorthernBank & Trust Co.ADDRESS: 149 Littleton Rd., WestfordBORROWER: Alexander A. Argiros, trustee ofWestford 149 Realty Ventures Nominee TRNOTES: Applebee’s Restaurant

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MORTGAGE: $2,700,000 from South ShoreSavings BankADDRESS: 140 Campanelli Dr., Lot 18A, BraintreeBORROWER: George H. Dean Co.

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MORTGAGE: $5,200,000 from Westfield BankADDRESS: 416, 434 and 989 Memorial Ave.;and 161, 168 (a/k/a 12 Summer St.), 179,183-185, 193-195, 197, 203 and 214 NewBridge St., West SpringfieldBORROWER: Cartelli Realty LLC

MORTGAGE: $1,658,000 from HinghamInstitution for SavingsADDRESS: 89 Pearl St., BraintreeBORROWER: William F. Frazier, trustee ofSunset Realty TR

MORTGAGE: $1,500,000 from RocklandTrust Co.ADDRESS: 29-33 Newbury St., BostonBORROWER: Donald L. Saunders, trustee of29-33 Newbury Street Trust 1988

MORTGAGE: $1,360,000 from ChicopeeSavings BankADDRESS: 136 Wayside Ave., West SpringfieldBORROWER: James H. Pollard, trustee ofCarter-McLeod Realty Co. LLC

MORTGAGE: $1,111,366 from Sovereign BankADDRESS: 66 Pacella Park Dr., RandolphBORROWER: Mark S. Lank, trustee of LankFamily Realty TR

Commercial Dealscontinued from page 6

Twenty Winthrop Sq.continued from page 3

The Real ReporterVOLUME 2, NUMBER 25

© 2010 The Real Reporter, Ten Post OfficeSquare, Boston MA 02109, 617-692-2997.All rights reserved. No part of this publica-tion may be reproduced without the writtenconsent of the publisher. The Real Reporter isa trademark of Launch Pad Boston.

Kerri Gallaway

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Corporation Directors/Registered Agents Address Nature of Business

Trinity One Canal LLC James G. Keefe, president 40 Court St., Ste. 800, Boston MA 02108 Real estate and interests therein

1561 Cold Spring Road Kevin P. Breslin and A. Alberto Lugo Esq., managers Principal office c/o DES Senior Care Holdings LLC @ Obtain real propertyOperating Company LLC 173 Bridge Plaza North, Fort Lee, NJ 07024

Casentini Inc. Stephen Casentini, president, treasurer and secretary 11 Waverly Ave., Newton MA 02458 Architecture

492 Mass Ave LLC Sanjeev Kakar, manager; Meredith C. Desharnais Esq., Kakar @ 15 1st St. SE, #1505, Rochester MN 55904; Desharnais

resident agent c/o Curran & Desharnais PC @ 11 Front St., Weymouth MA 02188 Acquire, hold, lease, mortgage & sell RE

The Theodore Leonard House LLC Corinne A. Fitzgerald, manager 116 Federal St., Greenfield MA 01301 Buying, leasing, owning, managing & selling RE

Sentry II Realty LLC Joseph Crespi and Richard Crespi, managers Joseph @ 5 Bay Meadow Rd., Berkeley MA 02779; Deal with real estateRichard @ 41 Taunton Green, Taunton MA 02780

Mayflower Advisors -- West LLC Steven Dimitriou, manager 100 Franklin St., 7th floor, Boston MA 02110 Acquire, administer, develop, finance, lease and sell real property

78 East Plain Street LLC Devens H. Hamlen, manager C/o Hamlen & Co. @ 54 Canal St., Boston MA 02114 Leasing, managing and owning real estate

Beacon Dental Realty LLC Tao Shen and Lihua Zhang, managers 1842 Beacon St., Brookline MA 02445 Interests in real estate

Bayberry Realty LLC Cami L. Calkins and Patrick W. Calkins, managers Cami@ 16 Winthrop St., Provincetown MA 02657; Lease, manage and own real estatePatrick @ 404 Picasso Dr., Nokomis FL 34275

Niles Pond Conservancy LLC Robert Ackerman and Robert Elwell, managers Ackerman @ 27 Edgemoor Rd., Gloucester MA 01930; Conservancy of Niles Pond in GloucesterElwell @ 24 St. Louis Ave., Gloucester MA 01930

Hillhead Advisors LLC Tony Campbell, manager; Ronald N. Braunstein, resident agent C/o Riemre & Braunstein LLC @ 3 Center Plaza, Boston MA 02108 Business consulting, including real estate

Borange Excursions LLC David R. Blouin, manager C/o Blouin & Co. @ University Office Park @ 51 Sawyer Rd., Deal in real property#310, Waltham MA 02453

AC Dartmouth Holdings Inc. Timothy Edward Cloe, president, treasurer and secretary 580 Old River Rd., Dartmouth MA 02747 Management company

WibGe LLC Michael G. Heffernan, manager 14 Robin Rd., Norfolk MA 02056 Comm. real prop. investment & management

Bay State Building Systems Inc. John H. Gauthier Jr., manager 55 Hemlock St. Braintree MA 02184 General contracting

Lincoln Court LLC John T. Haffey and L. Richard Leclair III, managers Haffey @ 58 Park St., Framingham MA 01702; Leclair @ Real estate contractors and developers707 Main St., Waltham MA 02451

Oakland Heights LLC David Lamattina, managers 35 Pleasant St., Wakefield MA 01880 Deal in RE at 38-42 Oakland Ave., Methuen MA

Integrated Facilities Group Inc. Rick Magliozzi, president, treasurer and secretary; Magliozzi @ 92 High St., Ste. 23, Medford MA 02155; Curran @ Construction and renovations to technical John M. Curran, registered agent 1 Washington Mall, Boston MA 02108 facilities

Causeway Properties LLC Joseph E. Locke, manager Principal office @ 18 Broadway Cir., Lynn MA 01904; Interests in real estateLocke @ 121 Piedmont St., Lynn MA 01904

Sundune Property LLC Patricia M. Dolyak, Judith M. Morris and 55 Irving St., Somerville MA 02144 Real estateMichael Z. Reed, managers

East Ridge LLC William F. Hurley, manager; Karen A. Underhill Esq., Hurley @ 11 Victoria Dr., Hampton Falls NH 03844; Underhill @ Real estate investmentresident agent 3 Main St., Unit-29, Main Street Mercantile, North Easton MA 02651

JMALP LLC Glen Cammarano, Neal Cammarano and 557 Highland Ave., Needham Heights MA 02194 Own commercial real estateDale Sinesi, managers

Maric 37 LLC Mark H. Rubin, manager; Ira Deitsch, resident agent Rubin @ 197 First Ave., Ste. 300, Needham MA 02494; Deal with real estateDeitsch @ 800 Boylston St., Boston MA 02199

Ayerz Investment LLC Shaffina Dhume and Shirish Dhume, managers 45 Philson Ct., Cheshire CT 06410 Real estate

2711 Allen Road LLC David Edelman, manager 816 Commonwealth Ave., Newton MA 02469 Deal in real property

M.T. Realty Development Corp. Michael Touchette, president, treasurer and secretary 7 Ramsdell Way, Lynnfield MA 01940 Construction and real estate

Offmic Y.K. Miiko Ono, Satoko Ono and Yoshihiro Ono, directors 5-1-1-2004 Nyoidani, Minoo City, Osaka Japan FF; Satoko Ono @ 21 Beacon St., Unit-7B, Boston Real estate investing

442 Lincoln Avenue LLC Brian M. D'Amico, manager 98 High St., Danvers MA 01923 Real estate

CSP Equity Partners 80 LLC Gene T. Barton Jr., Peter Malone & Brad M. Meslin, managers 125 High St., Boston MA 02110 Investments, including real estate



Kearney Hewett LLC Therman O. Hewett, Josphine A. Kearney and Principal office @ 38 Andrew Dr., Pembroke MA 02359 Dealing with interests in real estateKenneth P. Kearney, managers

Red Mortgage Capital LLC Michael E. Cousins, manager Principal office @ 2 Miranova Pl., 12th floor, Columbus OH 43215; Commercial real estate activitiesCounsins @ 1717 Main St., Ste. 900, Dallas TX 75201

Ninigret Capital LLC Jason Krantz and Scott A. Stokes, signatories Principal office @ 176 Federal St., Boston MA 02110 Investments, including real estate

Mall at Auburn LLC James M. Barkley, signatory C/o Mayflower Realty @ 225 W. Washington St., PO Box 7033, Real estateIndianapolis IN 46207

Massachusetts CorporationsOrganized July 27 - Aug. 2, 2010



Corporation Directors/Registered Agents Address Nature of Business

East Coast General Services LLC Christopher D. Kane, mgr; Thomas N. Wilson, resident agent Kane @ PO Box 483, Holyoke MA 01041; Wilson @ Construction98 Lower Westfield Rd., Holyoke MA 01040

Alvarado Street Properties LLC Lawrence B. Wood, manager 29 Dias Dorados, Orinda CA 94563 Commercial real estate

162 Plainville So. Street LLC Delbert A. Brown and Maxine C. Brown, managers 47 Brook St., North Attleborough MA 02760 Acquire, develop, lease, mortgage and sell real property

Samuels & Associates Hingham Thomas Bloch, Roger Daprato, Steven B. Samuels and 333 Newbury St., Boston MA 02115 Deal with real estateIntermediate LLC Joel Sklar, managers

Sequoia Golf CRG Management LLC Kipp D. Orme and Mitch Phillips, managers C/o Sequoia Golf Management LLC @ 924 Shaw Rd., Sharpaburg GA Golf club owner and operator

Joshua Jade LLC Joshua Jade and Sheena Lawrence, managers Jade @ 56 Conant St., Lincoln MA 01773; Lawrence @ Construction services2250 Hickory Rd., Ste. 450, Plymouth Meeting PA 19462

Wharf District Council Inc. Justin Wyner, president; Christopher Fincham, treasurer; Wyner @ 20 Rowes Wharf, Boston MA 02110 Non-profit promoting social welfare Samuel Mintz, clerk improvements and issues of planning and

development in Boston's Wharf District

New Boston Ventures -- Northampton LLC David L. Goldman and Dennis R. Kanin, managers; Principal office @ 540 Tremont St., Boston MA 02116; Levin c/o Richard S. Levin Esq., resident agent Cumsky & Levin LLP @ 6 University Rd., Cambridge MA 02138 Commercial and residential real estate

Mugar Fenway LLC David T. Ting, manager C/o Mugar Enterprises @ 222 Berkeley St., Boston MA 02116 Deal with real estate

Pandb LLC Bhavana Upadhyaya and Paresh Upadhyaya, managers; Principal office @ 235 West 56th St., #18B, NYC 10019; Rubenstein c/o Real estateJoseph T. Rubenstein Esq., resident agent Marsh, Moriarty, Ontell & Golder PC @ 18 Tremont St., Ste. 900, Boston MA

Project 189 LLC Thomas M. O'Connor and Charles F. Walsh Jr., managers; Principal office @ 189 Reservoir St., Needham MA 02494; Hold and manage real estateJoseph M. Klements, resident agent Klements @ 3 Cabot Pl., Stoughton MA 02072

Normandy Advisors LLC Bruce MacRae and Edward Patton, managers; Principal office @ 175 Bear Hill Rd., Waltham MA 02451;Charles A. Wry Jr., resident agent Wry @ 1601 Trapelo Rd., Ste. 205, Waltham MA 02451 Investments, including real estate

GUTS Realty LLC Richard H. Turner, manager 30 Crescent Ave., Beverly MA 01915 Real estate

Lynn Currier LLC Lynn A. Currier, manager 108 High St., Randolph MA 02368 Real estate development, investment and ownership

68 Hamilton LLC Steven G. Direda, manager; Joseph R. Jenkins, resident agent Direda @ 100 South Quinsigamond Ave., Shrewsbury MA 01545; Dealing with interests in real estateJenkins @ 116 Flanders Rd., Ste. 1100, Westborough MA 01581

SRG Engineering Inc. Steven K. Grant, president; Leni C. Grant, treasurer 52 Blueberry Ln., Gray ME 04039 Structural engineering

8 Rice Rd. LLC Gregory Adams, manager 3 Florida Ct., #3, Maynard MA 01754 Real estate

Claflin Street LLC Deborah Klock, manager 51 Summer St., Rowley MA 01969 Deal with real estate

Rockhill Sandwich LLC Steven J. Agostinelli, manager; Philip Michael Boudreau, Agostinelli @ 1720 J&C Blvd., Ste. 6, Naples FL 34109; Real estate development and investmentresident agent Boudreau @ 396 North St., Hyannis MA 02601

Shafer Green Construction and Joseph R. Shafer, manager 55 Sewall Ave., #5, Brookline MA 02446 Real estate consulting and buildingConsulting LLC

Cullen Custom Homes LLC James G. Cullen and Eugene Vitale, managers Cullen @ 26 Dover Dr., Walpole MA 02081; Real estate constructionVitale @ 9 Zions Pl., Plymouth MA 02360

Kovalski Properties LLC Avi Kovalski and Liri Kovalski, managers 1079 Commonwealth Ave., #207, Boston MA 02115 Real estate

Eagle-Eye Properties LLC Cynthia A. Lafave and David A. Lafave, managers 110 Dracut St., Methuen MA 01844 Real estate

A Greener Box Boston LLC Neill Barger and Matthew Hyde, managers 171 Franklin St., Arlington MA 02474 Buy, develop, lease, own & sell real property

SG Seafood Holdings Inc. Kimberly Gorton, president; Michael C. Gorton, treasurer; 225 Southampton St., Boston MA 02210 Fishing industry and securing real estate to Nataniel M. Gorton, secretary support that business

SG Realty Massachusetts LLC Kimberly Gorton, president; Michael C. Gorton, treasurer; 225 Southampton St., Boston MA 02210 Deal with real propertyNataniel M. Gorton, secretary

CJ Condo LLC Mark Moskowitz, manager 50 W. 17th St., NYC 10011 Condominium ownership

Beckman Design LLC Dawn Beckman, manager 23A Warren Ave., Boston MA 02116 Design services and real estate acquisition,leasing and sales

Vickery Investments LLC D. Jason Vickery, manager; William Gosz Esq., resident agent Vickery @ 255 Western Promenade, Portland ME 04102; Acquire, develop, lease, maintain and sell Gosz @ 130 Bishop Allen Dr., 2nd floor, Cambridge MA 02139 real estate

30-32 Hamilton Street LLC Gregory T. Antonelli, manager 140 Tremont St., Everett MA 02149 Dealing with interests in real estate

Lafayette Park Investment LLC Rick Costa and Jamie Russo, managers Principal office c/o New Boston Capital Corp. @ Deal with real estate111 Everett Ave., 2nd floor, Chelsea MA 02150

KECC LLC Jane Crowley, manager 155 Cliff Rd., Wellesley MA 02181 Dealing with interests in real estate

Brickmarden LLC David Brickman and Peter Marden, managers Principal office @ 3222 Taylor Pond Ln., Bedford MA 01730 Real estate development, investment and ownership

96Glendale LLC Edward J. Thomas, manager 209 West Central St., Ste. 208, Natick MA 01760 Real estate acquisition and development

Massachusetts CorporationsOrganized July 27 - Aug. 2, 2010

building for $9 million.“We are acquiring it,” Rubin acknowl-

edges to The Real Reporter. The leasingteam from Richards Barry Joyce &Partners will remain on as exclusive agentof the building. NBF purchased the asset inApril 2004 for $10.4 million, according toNorfolk County Registry of Deeds records.

Rubin explains he volunteered interestin 254 Second Ave. when pitched a differ-ent NBF asset up for sale, the 117,000-sf 80Wilson Way in Westwood acquired in Juneby Fairlane Properties. Rubin passed onthat opportunity, but informed NBF’s bro-kers from Eastdil Secured that he would bewilling to negotiate a transfer of 254 SecondAve. should the owner be so inclined.

Citing confidentiality agreements,Rubin would not discuss pricing or otherdetails, but is unabashed in his excitementover securing 254 Second Ave. With hisfirm based in Needham, Rubin says he haslong coveted the building as the sort thatappeals to a platform of buying carefullyand chasing value-added opportunities inproven locations. “It has some really amaz-ing features,” he says, including ceilingheights to 16 feet and 13,000 sf on a sec-ond level that could work for a variety offunctions. “The building is incredibly flex-ible,” says Rubin, enabling office, laborato-ry and manufacturing as potential uses. An“outstanding” parking ratio of four spacesper thousand vehicles is another drawingcard of the 5.5-acre property, he relays,providing a prized commodity for the auto-centric Route 128 Central office market.Abundant power and freight loading facili-ties are other pluses listed.

As previously detailed by The RealReporter in unveiling Maric’s plans to sepa-rately purchase 400 Fifth Ave. in Waltham,the company adeptly repositioned a portfo-lio of suburban buildings and sold them offjust prior to the commercial real estatebust, reaping $82 million in the process, ormore than $200 per sf.

Rubin says his firm has not found thesort of opportunities available since thatharvesting despite the anticipation of underwater properties coming available. Sellerexpectations have remained aggressive, hesays, and often not reflective of deleterious

changes in market fundamentals. That canlead to incongruous negotiations, and haskept Maric from buying anything since 2007despite having considered multipleprospects. “You have to be patient,” Rubinsays of making commitments in a volatilemarket.

Fortunately, there was no angstinvolved in striking an amicable pact withNBF. “I really want to compliment themall,” Rubin says, crediting NBF staffersJonathan Gillman, James Kelleher and PaulStuart as being “absolutely terrific to dealwith” through the process. The EastdilCapital Markets Group was another key inseeing the sale through expeditiously, heconveys, underscored by a purchase-and-sales agreement hammered out in undersix hours. “That’s very rare,” says Rubin.

Calls to Eastdil’s Boston office were notreturned by press deadline. The teamincludes Peter Joseph, Sarah Lagosh,James McCaffrey and Christopher Phaneuf,the same quartet handling 400 Fifth Ave. onbehalf of Wells Fargo Bank, which took theasset back this spring from Normandy RealEstate Partners. Rubin declined to discussthat situation in which Maric is pursuingthe 115,000-sf Class A building in the heartof the Route 128 Central belt.

The core suburban office market thatincludes Needham has had a difficultstretch, plunging by nearly 650,000 in netabsorption during the past 12 months,according to RBJ’s research group. Thathas pushed vacancies up to 19.3 percentfor 21.8 million sf, having dipped another

57,000 sf during the second quarter.Needham has a tighter vacancy of 13.2

percent for 1.81 million sf, even after losing110,000 sf in net absorption since mid-2009. The average asking rental rate forNeedham is $27.21 per sf, RBJ reports,compared to a submarket average of $29.95per sf.

With 254 Second Ave. in tow, Maric ispreparing for a capital improvements cam-paign to the base building and commonareas that Rubin promises will enhance itsstructural strengths. Efforts will be madeto retain GateHouse Media, he says, butthe new landlord expresses faith in a suc-cessful lease-up campaign regardless ofthat group’s ultimate decision. “We’re veryexcited,” Rubin says of taking on the asset.

While drawn into the Needham negotia-tions, NBF has been on an active campaignto reconfigure its portfolio. Besides the$12.3 million sale of 80 Wilson Way toFairlane, NBF in recent months has divest-ed such other properties as 2 TechnologyDr. in Westborough and 2 Cabot Rd. inHudson, which closed Wednesday in a$3.87 million sale to local investor GeorgeK. Tonna, a deal first relayed in last week’sReal Report. The brokers representingNBF in that trade were Newmark KnightFrank’s Boston team of Scott Dragos,Douglas Jacoby and James Thomson. GarryHolmes of R.W. Holmes Realty representedthe buyer of 2 Cabot Rd., a two-story,147,000-sf flex/office building. Efforts tocontact NBF by press deadline wereunsuccessful. n

254 Second Ave.continued from page 1

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but rental rates have dropped so muchthey make new construction unlikely,especially given the lack of demand forspace.

The season to date has yielded somenotable transactions — Horizon Logisticstook 106,000 sf at 90 Salem St. in Billericaand a major 165,000-sf flex/industriallease at 300 RiverPark in North Readingspiced up the normally sluggish summermonths. Even so, Spencer warns funda-mental shortcomings offset the occasionalcommitment, especially when many dealsrepresent lateral outcomes on industrialfundamentals.

The 300 RiverPark pact involving KivaSystems represents a substantial increaseover its previous occupancy at 225Wildwood Ave. in Woburn, as detailed inprevious Real Reporter articles that firstunveiled Kiva’s intentions to shift opera-tions to the Interstate 93 North complexowned jointly by DivcoWest and TaurusInvestments.

As part of the eight-year agreement, Kivacould eventually fill all200,000 sf at 300RiverPark, according tosources. “It’s a verygood deal for the indus-try,” concurs Spencer,who declined to discuss

specifics of the negotiations that had G&Erepresenting Kiva and Richards BarryJoyce & Partners as exclusive agents forthe landlord.

Horizon Logistics was the final piece inthe puzzle for 90 Salem St., owned by INGClarion. Having purchased the complex in2008, the firm has since filled all 600,000sf in the complex that served for manyyears as a central facility for PuritySupreme. But while a positive result forthat property, Horizon’s shift will be leav-ing behind another block of space behindin Woburn. “It doesn’t do much for thevacancy rate,” accedes Spencer.

A member of the G&E team that repre-sented Horizon in its lease, Spencer termsthe first half of 2010 “lackluster” forindustrial real estate. Quality propertiesand experienced landlords such as INGClarion can overcome the malaise, hesays, evidenced by another Q2 lease in

which Acme Packet has taken 150,000 sfat 100 Crosby Dr. in Bedford, 25,000 sfmore than it originally planned. Demandremains thin overall, however, Spencersays, and a vacancy rate bumping up to 16percent in G&E’s research is pause forconcern. “That’s not a good number forlandlords,” he says, a notion shared byNed Halloran of Lincoln Property Group.Feeble signs of progress such as a gain of57,000 sf in net absorption in the LPCmid-year survey and a slight increase inasking rental rates were blunted by theslumping economy, Halloran indicates inan LPC report that concludes “tenants willcontinue to be able to leverage the marketto achieve favorable lease terms.”

The LPC industrial survey is even moredire than G&E’s, putting the vacancy rate

for Greater Boston at 22.9 percent. Theasking rent is at $6.83 per sf for the sectoroverall, relays LPC, which did reveal aschizophrenic start to 2010. Interstate 495North recorded positive net absorption of798,000 sf whereas those in the Interstate495 Central regions were in the red bymore than 750,000 sf.

On the positive side, Halloran andSpencer say they are encouraged that theworst of the financial storm has passed.“We believe by the end of 2010 the indus-trial market will continue to stabilize,which will begin restoring balance in themarket,” relays Halloran. “I’m not seeingthings getting worse,” says Spencer. “Weare just bumping along the bottom, andthe real question is, how long do we dothat before we see it get better?” n


90 Salem Rd., Billerica MA

Industrial on Edgecontinued from page 1

Ned Halloran

Canterbury Commons is an older vintagethan the Salem property, but Scott saysthe Raymond asset benefits from a bucolicsurrounding and lack of competing multi-family buildings. “It was a good price,” hesays of the outcome.

Based in Burlington, MA, ARA’s region-al team is witnessing a renewed appetiteamong investors for New Hampshire mul-tifamily product, according to Scott, whohas been active in that submarket for 20years. The state has fared better thanmost regions economically, he explains,while limited supply of new inventory has

made buyers even more comfortable aboutlong-range fundamentals. That is goodnews for a sector that has seen institution-al players such as AIMCO and EquityResidential retreat from tertiary marketsin the past two years to focus on the urbanlandscape. In fact, Scott says CanterburyCommons is the first New Hampshireapartment community sale in three years.

But the climate has begun to turn,Scott says. Historically low interest ratesare making the purchase of commercialreal estate feasible for some investors, hesays. For whatever reason, Carlton Oakshas seen a substantial line of private capi-tal queuing up for the chance to emerge aswinning bidder, Scott says. n

ARA Teamcontinued from page 2

with the Dartmouth Co. to attract some of the plaza’s top ten-ants. “It went very well,” Charles Talanian says of the program,having spoken before an audience that included his mother,Nevart Talanian, son Chris Talanian, sister Gail O’Reillyand her husband, Richard O’Reilly. The new Walgreens hasalso provided a homecoming opportunity for Falmouth nativeFrank Flanagan, a manager for the pharmacy who was giventhe assignment to open their Mashpee unit. Flanagan “is ashappy as can be,” Charles Talanian relays.

Newbury RisingBOSTON—Back on his home turf, where Charles M. Talanianhas been doing business for 40 years, there is a renewed sense ofhope that fellow Newbury Street and Back Bay landlords whoabsorbed a body blow from the global recession can finally lookforward to improving conditions. Heretofore reluctant to join cityofficials and others eagerly trumpeting such a rebound—andeven recently predicting a double-dip recession was on the hori-zon—Talanian reports conditions have improved substantially inrecent weeks, and says he is negotiating multiple leases thatcould erase most of his remaining vacancies in a portfolio ofapproximately 30 properties on the street.

“It’s a good sign,” he says of the surge. “People are beingmuch more reasonable today.” One major lease was inked thisweek, as Talanian lured consumer electronics retailer Bang &Olufsen from the first block of Newbury Street to one of fourspaces at the landlord’s flagship property, 137 Newbury St.,which is between Clarendon and Dartmouth Streets. The tenantwill occupy 2,400 sf, filling the last available slot in the building.“We’re pleased,” Talanian says of securing the key retailer to goalong with other top tenants on the ground floor, including over-seas candy purveyor Hotel Chocolat. Things are looking sopromising that Talanian is even cancelling his concerns of theeconomy backsliding into another recession. “I don’t think so,”he says. “I’m finally seeing better results.” n

The Real Reportcontinued from page 4


30 Newbury St., Boston MA

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The Real Reporter August 6, 2010 Issue

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