2015 Annual Review responses by Richard Vincent of KW Commercial

Respondent’s Name: Richard Vincent Company: KW Commercial Greatest professional accomplishment for 2015? The 20-year lease agreement between “JML Laundromat In and Out LLC” and “494 Bridge St. LLC”. My past experience in the construction trade came into play as being able to identify the existing 2,500 s/f retail space as being adaptable to a full service laundromat. A major buildout had to happen, but the location and term of the lease come together to create a win – win for both the tenant and the landlord. Most notable project for 2015? Representing KIZ Inc. as their buyer agent in the purchase of 221 Washington St., Newton from Liberty Trust. The space previously had been a children’s dentist office on the first floor and rented office space on second and third floors. KIZ Inc. has approval for a much needed child day care center which will be located on the first floor and residential apartment units for the second and third floors. The increased pressure of supply and demand will continue to push rents and real estate prices higher, but the sure to come higher rates will keep the increases manageable. Warehouse space in and around Boston is becoming more and more difficult to find because the building owners are converting their warehouse space to flex, R&D and office to capture higher rents.