News: Front Section

Pro Con Inc begins construction of $13.5 million Residence Inn by Marriott

Construction is underway for a new 128-room Residence Inn by Marriott hotel located at the intersection of First Ave. and B St. in the New England Business Center office park. The hotel, which is being developed by Waterford Development Corp., is part of a redevelopment plan by Normandy Real Estate Partners that includes four new office buildings, the hotel and two parking garages to be built in the business park over the next few years. Pro Con Inc is the architect and construction manager for the $13.5 million design build hospitality project, which is owned by SXC Needham Inn, LLC. Pro Con has designed the Needham Residence Inn to achieve LEED certification. The hotel will use regional & recycled materials in construction and incorporate environmentally friendly design elements such as a white roof, over-sized windows, low-flow, water-efficient plumbing fixtures and LED lighting throughout the development. The building's first floor will house the hotel's lobby and reception, common areas and conference rooms. Floors 2-5 will house the hotel's guest rooms. The hotel will offer 116 urban studios, 8 one-bedroom suites, and 4 two-bedroom suites with a large hearth room, bar and lounge area, breakfast room, indoor pool & fitness room, two flexible space meeting rooms, business center and guest laundry area. Plans call for the hotel to have covered parking for 22 vehicles and surface parking for 80 vehicles. The 89,740 s/f Residence Inn, which is designed for the extended stay traveler, will offer complimentary continental breakfast, evening social hours and each suite will have separate working, lounging, and sleeping areas. Each room will also have a fully equipped kitchen with granite counter tops, microwave, stove, refrigerator, dishwasher and coffee maker. "We are excited to be developing a Residence Inn by Marriott hotel in the New England Business Center in Needham," said Robert Shapiro, principal of Waterford Development. "The hotel, which is conveniently located off of Rte. 128, will be a wonderful addition to the business park and we look forward to serving both business and leisure travelers when it opens next spring." The exterior design will feature precast concrete blocks, brick veneer, insulated metal paneling and cornice molding. The hotel's main entrance will feature a canopy with metal panels and double sliding glass doors. Construction on the site began in August 2012 and the hotel is expected to be completed by June.
MORE FROM 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
Quick Hits
Columns and Thought Leadership
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.
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.