Log in Subscribe Front Page Current Issue Real Briefs Archives Subscribe/Renew Events Advertise Contact Us
Fri, Jul 1
A Compendium of Property & Capital News
Fri
Jul 1
A Compendium of Property & Capital News

Recent Trades

Spaulding & Slye Sells Somerville Parcels to Magellan Development for $155M Profit

June 03, 2022 $200M
Spaulding & Slye Investments has sold multiple properties in Somerville, MA for $200 million, coming on the heels of purchasing said parcels earlier in the day for $45 million - yielding a $155 million windfall profit.

Covering 3.34 acres, the parcels at 120, 160, 200, and 216 McGrath Highway were assembled by Spaulding & Slye and marketed as a whole. Meanwhile, S&S has been pursuing approvals from state and local officials and nearby residents for a major project to fill the space.

As described in the state's Environmental Notification Form, the project would consist of the construction of approximately 1,554,000 square feet of mixed uses across three buildings, including 589,000 square feet of office space, 746,000 square feet of lab space, a 300-key hotel, and as many as 1,000 parking spots. The space has been used mostly as a landing area for the Green Line Extension, a decades-in-the-making project finishing up completion nearby.

The buyer is Magellan Development Group, which is building the 15-acre USQ project in nearby Union Square.
Jun 29, 2022 Orleans Shopping Center Sells for $33.13 Million $33.125M Jun 24, 2022 1 Hampshire St in Cambridge Sells for $120 Million $120M Jun 24, 2022 Chelmsford 40B Site Sells for $2.35 Million $2.35M Jun 24, 2022 Mahoney’s Garden Center in Wayland Sold for $2.5 Million $2.5M Jun 21, 2022 Graphic Lofts in Charlestown Trades for $96.3 Million $96.3M Jun 17, 2022 National Development Closes on $16 Million Wilmington Buy $16M Jun 14, 2022 Alexandria Real Estate Sells Off Properties for $337 million $337M Jun 13, 2022 North End Property Sells for $9 Million+; Hotel Planned $9.505750M Jun 10, 2022 Herb Chambers’ Everett Site Sells for $19.15M $19.15M Jun 10, 2022 Amrheins Property in South Boston Sells for $22.5 Million $22.25M Jun 09, 2022 Hyde Park, Boston Shopping Center Sells for $32.905 million $32.905M Jun 09, 2022 Uxbridge Inn Sells for $2.275M $2.275M Jun 07, 2022 Arden Logistics Parks Acquires 8 IndustrIal/Flex Properties for $160 Million $160M Jun 03, 2022 Southie Developer Takes Loss on Dorchester Ave Project $10.843M Jun 03, 2022 Invesco Scoops Up Revere Apartment Complex from Greystar for $104.35M $104.35M Jun 01, 2022 Suffolk Downs Developer Makes Strategic $2.075M Revere Buy $2.075M Jun 01, 2022 Situated on Former Notorious State Hospital Land Danvers Apartment Complex Sold for $207.35M $207.35M May 26, 2022 New Owners Seize the Day with Provincetown’s Carpe Diem Purchase for $6.2M $6.2M May 23, 2022 Longfellow Real Estate Partners Sells Bedford, MA R&D for $132M $132M May 23, 2022 Longpoint Realty Closes On a Pair of Westboro Industrial Spaces for $15.725M $15.725M May 20, 2022 156-Unit Marlborough Apartment Complex Sells for $59.2M $59.2M May 19, 2022 Attleboro Medical Complex Sells for $2.85M $2.85M May 19, 2022 TA Realty Makes 9 Building $390 Million Shopping Center Purchase From Gravestar $382.403M May 18, 2022 56,500 SF Cannabis Facility Sells for $40 million to California REIT $40M