News: Front Section

Nahigian of Auburndale Realty Company completes counseling/advisory for AKFCS

Rob Nahigian, of Auburndale Realty Co. has completed a three year real estate counseling/advisory assignment for Abby Kelley Foster Charter School (AKFCS). The assignment culminated 301,259 s/f of buildings on 15 acres. The $35 million tax-exempt bond issuance closed with the acquisition of 6 New Bond St. for $7 million and a future acquisition of 10 New Bond St. AKFCS is a K-12 charter school with 1,426 students and will use 6 New Bond St., of 189,701 s/f, for grades 9-12. 10 New Bond contains 111,558 s/f and will house grades K-8. Nahigian acted as the project consultant and took the project from concept to closing. He worked closely with the superintendent of schools, Robert Harrington. The assignment included assembling information, interviewing and/or evaluation of 100 property brokers/owners; over 4,000 SIOR and CRE's, 60 bond brokers and underwriters and other support services. RBC Capital Markets financed the Series 2008 bonds. TD BankNorth approved or underwrote the bond issuance and the bond for the school was sponsored by Mass Development. Dan Shimkus of TD Bank-North worked on the financing. Over $37 million of funds, which includes equity, will be used at 10 New Bond St. to construct a multi-purpose field. The remaining funds will be used to renovate 6 New Bond St. for a new auditorium. The construction companies include GW White of N.H., Consigli Const. of Milford and RF Walsh of Boston as project management. Peter Dawson of Mirik O'Connell acted as the school's real estate legal counsel.
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Ask the Electrician:  How do I prepare my commercial building for a disaster?

Ask the Electrician: How do I prepare my commercial building for a disaster?

New England’s notorious weather – from fierce winter storms to summer squalls and fall hurricanes – can leave businesses in the dark. While power outages are often blamed on storms, they can also be caused by unforeseen events like accidents or construction mishaps. While it’s impossible to prevent disasters and power outages entirely, proactive preparation can significantly minimize their impact on your commercial building.
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary