In Boston’s West End, a joint venture comprising Live Oak Real Estate Investments and Tritower Financial Group has successfully acquired the 11-story office tower known as One Bowdoin Square for $28 million. This purchase comes as a significant reduction from its previous sale price of nearly $62 million in 2016, when an entity associated with New York Life Investments had purchased the property. Newmark represented the seller and facilitated the acquisition for the new buyers.
The joint venture secured $20.7 million in financing from the Bank of New England to assist with the acquisition. One Bowdoin Square enjoys a prime location within walking distance of notable landmarks such as TD Garden, City Hall Plaza, and the MBTA Blue Line station. Current tenants in the building include Massachusetts General Hospital and the commonwealth of Massachusetts.
“One Bowdoin Square’s premier location, durable tenancy and architectural distinction align with our investment philosophy focused on long-term value creation and capital preservation,” stated Tritower Chief Investment Officer Tod Brainard.
In additional market activity, Chicago-based Logistics Property Co. has made its mark in Greater Boston by acquiring a fully leased industrial building in Mansfield for $71 million. The property, situated at 572 West Street, was purchased from an entity linked to Wakefield-based NorthBridge Partners. This acquisition marks Logistics Property Co.’s first venture into the Greater Boston area.
Seyon Group has also expanded its footprint by acquiring three industrial buildings totaling 140,000 square feet in North Andover and Norwood. The properties purchased include 300 Willow Street and 125 Flagship Drive in North Andover, both of which comprise 80,000 square feet, along with 290 Vanderbilt Avenue in Norwood, which has an area of 60,000 square feet.
In a separate transaction, Foxfield Properties acquired a 155,000 square foot office building within the Cabot Business Park for $10.2 million. The property at 9-11 Hampshire Street is home to tenants such as Roche Bros. Supermarkets and Trimark USA, although approximately 24% of the building remains vacant. The sale was brokered by a team from CBRE, including Tim Mulhall, Scott Dragos, Chris Skeffington, Roy Sandeman, Daniel Hines, Douglas Jacoby, Anthony Hayes, and PJ O’Reilly.
Churchill Downs Inc., a well-known horse race track owner, has entered into an agreement to acquire 90% ownership in the Live Casino in Salem, New Hampshire, for a total of $180 million. The transaction involves purchasing a 51% stake from The Cordish Companies and a 39% stake from F&L Gaming, owned by local developers Sal Lupoli and Joe Faro.
On the leasing front, architecture firm SGA has recently moved into a 20,000 square foot space at 99 High Street in Boston. This comes after Synergy secured seven leases totaling approximately 80,000 square feet since acquiring the office tower just three months ago. Of these leases, more than half involved new tenants, with the largest being signed by biotech company enGene for 26,000 square feet. Other notable tenants in the building include architectural firm Goody Clancy, computing startup Qblox, and investment bank AGC Partners.
In another notable lease agreement, Terrain Biosciences signed a 14,000 square foot lease at the Genesis 640 Memorial Drive lab development in Cambridge’s innovation corridor, marking the biotech company’s new headquarters. The landlord was represented by CBRE, while Colliers represented Terrain Biosciences.
Anchor Line Partners and Alloy Properties have secured two leases within their Greater Boston portfolio that total 67,000 square feet. Notably, Lantheus has signed a 41,000 square foot office lease at The Core @ Crosby located at 34 Crosby Drive in Bedford. An unnamed tenant has also committed to a 26,000 square foot lease at The Core @ Waltham campus in Waltham. Lantheus was represented by Cushman & Wakefield.
Further leasing developments include Minerva Biotech, which signed a 13,000 square foot lease at Cummings Park in Woburn. The life sciences company is moving from its previous location in Waltham to this newly renovated facility in Woburn.
Additionally, J.F. White Contracting has signed a 25,000 square foot lease in the 111 Speen Street office building, owned by Paradigm Properties and North Colony Asset Management in Framingham. The contracting company plans to relocate its headquarters from 10 Burr Street in Framingham by the first quarter of 2026. Paradigm and North Colony invested over $5 million in building upgrades after acquiring the property in March 2022, with Kelleher & Sadowsky representing the landlords in this transaction.
In construction news, Bain Capital and Botanic Properties are jointly developing a biomanufacturing facility at 45 Crosby Drive in Bedford, following their acquisition of the property this past May for $26 million. The facility will encompass 154,000 square feet and is scheduled for delivery in the third quarter of 2026, with construction financing provided by Barings.
Lastly, Island Housing Trust and Affirmative Investments Inc. have broken ground on a 60-unit affordable and workforce housing development in Oak Bluffs on Martha’s Vineyard. The Tackenash Knoll project will be developed on a 7.8-acre parcel of land owned by the town of Oak Bluffs.
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