The Real Reporter A COMPENDIUM OF COMMERCIAL PROPERTY & CAPITAL NEWS
THIS WEEK’S ISSUE Milk Delivery . . . . . . . . . . . . . . . . . . 2 Grand’s Plan. . . . . . . . . . . . . . . . . . . 2 Center of Attention . . . . . . . . . . . . . 5 A Call to Alms . . . . . . . . . . . . . . . 11 Route 128,000. . . . . . . . . . . . . . . 12
THE REAL REPORT
“Thanks Jack” BOSTON — “Thanks Jack.” The unending refrain from hundreds of well-wishers streaming through A.W. Perry headquarters on a recent John H. Spurr Jr. spring afernoon was a simple yet genuine salutation to John H. “Jack” Spurr Jr., retiring as president after 35 years running the venerable famRichard P. Beal ily firm launched in 1884 when great grandfather Alonzo W. Perry subleased two floors in his shoe factory at 125 Summer St. across from South Station and Kerri Spurr Gallaway ineluctably entered the frenetic world of commercial real estate here and in his hometown of Rockland. The $2,000 profit began the founder’s fascinating run that included ownership of a steamship line and continued on page 47
JUNE 21, 2017
Horvath & Tremblay Eclipses $250M as Net Lease Sales Brokerage Soars
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BY JOE CLEMENTS
OVER, NH — A popular Panera Bread restaurant here along the Maine line; a North Hampton Jiffy Lube; and multi-tenanted retail bordering central Massachusetts in Rindge are among a flurry of net-lease trades accomplished by Horvath & Tremblay in recent days with no sign of easing as continued on page 51 Webb Place Shopping Center, Dover NH
‘Four for Free’ at Fore of JPMorgan Plan BY JOE CLEMENTS tween $500,000 to $25 million where thouOSTON — Good things are said to come sands of dollars can be saved via the bank in threes, but in the realm of multifami- absorbing a quartet of nettlesome filing and ly financing, legal costs comJPMorgan Chase mon for a stanBank goes one dard acquisition better via its or refinancing customized loan. Having pre“Four for Free” sciently entered program targetthe Boston maring borrowers ket in 2011, Daniel Vasserman See page 54 needing be- John Gambardella Bill Crocker
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Campanelli, TriGate Still Leasing in No. Quincy
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BY JOE CLEMENTS
UINCY — Anyone thinking Campanelli and TriGate left North Quincy in their rear view mirror after last autumn’s sale of Heritage One and Heritage Two might have forgotten the partnership buying those aging office buildings in June 2013 for $16.3 million added an adjacent property to the mix 15 months later, paying $8.6 million for continued on page 56 Heritage Point, 108 Myrtle St., Quincy MA