Waldman Commercial Real Estate completes four building sales in Walpole, Mass.

August 16, 2019 - Front Section
1600 Providence Highway - Walpole, MA

Walpole, MA Dan Waldman of Waldman Commercial Real Estate has sold four buildings in town. 

First, he sold 1600 Providence Hwy. for $7.1 million. Waldman said, “1600 Providence Hwy. was not a strict real estate transaction; rather, I was tasked with finding an investor who also wanted to buy a business. The previous owner of the property ran a short-term office leasing business, similar to Regus or WeWork, and he wanted the business to continue after the sale.” The new owner has since done just that. This transaction was accomplished with the help of Matt Sugarman and Bob MacNamara.

Next, Waldman sold the Stor-Gard self-storage facility located in front of the Walmart at 500 Providence Hwy. This property was a desirable self-storage facility, that sold for a final price of $14.3 million. Around the time of the close, an unexpected challenge occurred: the retaining walls collapsed. However, both seller and buyer were experienced operators, so Waldman, the buyer and seller were able to adjust accordingly to close the deal. 

With over $50 million in self-storage sales and several more self-storage facilities under agreement, Waldman is the go-to broker for self-storage.

This past December, Waldman closed on the building that was previously Betro Pharmacy for many years, located on 965 Main St. in downtown. When the owner of Betro Pharmacy retired, Waldman reached out to the landlord and Stef Frey, the broker, and they negotiated a price and a timeframe for his client, who is a local dentist. Waldman felt that, “this sale was a true win-win for both parties, and I particularly appreciated working with dentists, as I have represented numerous dentists, including my wife and brother. I had the pleasure of touring his new office, and my client did a fabulous job transitioning the building from a pharmacy to a state-of-the-art dental office.”

More recently, Waldman faced a challenge in selling the former Speedway Gas Station at 2285 Providence Hwy., which was also at one time a Hess Station. While the buyer agreed to 100% of the asking price, other obstacles, such as zoning and environmental factors, complicated the sale. Waldman participated in countless meetings with the town, the buyer, and his consultants, and after almost a year the terms were agreed upon. The final price was $1.2 million, and the buyer will be investing capital to reopen the gas station.

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