News: Front Section

Development Associates begins 3rd Northampton office building at 15 Atwood Dr. - a 66,000 s/f 3-story facility

Northampton, MA Development Associates has begun construction of a 66,000 s/f 3-story office building at 15 Atwood Dr., located south of I-91 at exit 18. The project is being developed by Northwood Development LLC, whose owners are local investors Edward J. O’Leary, and his daughters Eileen O’Leary Sullivan and Susan O’Leary Mulhern. The project is located on the site of the former Clarion Hotel and Conference Center that was demolished in 2016 to prepare for redevelopment. The overall site development plan approved by the city provides for two new office buildings on the site; the one under construction being closer to Rte. 5 and a future multi-story building at the rear of the property near I-91.

The new building plan offers over 60,000 s/f of professional and medical space for lease with occupancy expected at the end of 2018. The Massachusetts Trial Court has leased 22,000 s/f, consisting of the entire first floor plus a portion of the second floor. The remainder of the second floor and the entire 20,000 s/f third floor are available for new tenants. 

Ken Vincunas, managing partner of Development Associates, said, “The brand new open floor plan allows the initial tenants the opportunity to have floor plans custom-designed to suit their exact requirements and we are already attracting quite of bit of tenant interest.” 

The construction plans show that the building will have abundant windows, a covered drop-off lane, two elevators, energy-efficient design, and hundreds of parking spaces.

This is the third major office building developed by Development Associates at this location, following two earlier successful three-story buildings on the south side of Atwood Dr. These previous buildings, which came online in 2012 and 2013, are fully leased, primarily to Mass General/Cooley Dickinson Hospital.

The new building is being built by general contractor R.P. Masiello of Boylston MA, with architectural design by Gregory J. O’Connor Associates, Inc. of Worcester MA. Development Associates is the construction manager and leasing broker for the project.

MORE FROM Front Section
Front Section

Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.

Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Five ways to ruin a  Section 1031  Like-Kind Exchange - by Bill Lopriore

Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore

While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.

Four tips for a smooth 1031 Exchange - by Bill Lopriore

Four tips for a smooth 1031 Exchange - by Bill Lopriore

Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
Make PR pop by highlighting unique angles - by Stanley Hurwitz

Make PR pop by highlighting unique angles - by Stanley Hurwitz

Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.