What was your greatest professional accomplishment in 2017? Jack Conway & Company opened our 30th residential/commercial sales office in the Seaport area of Boston earlier this year. In addition, we rebranded all four of our City of Boston offices to Jack Conway Cityside, with locations in Dorchester, South Boston and West Roxbury and now Seaport, to assist us in serving the needs of the ever-changing, growing and evolving downtown Boston real estate market.
What are your predictions for commercial real estate in 2018? We are confident at Conway that 2018 will look a lot like 2017, which was a great year for commercial real estate for the 17-member Conway Commercial team. We expect high demand for income producing properties, including office building sales. Low inventory will persist and we continue to see off-market deals. Cash buyers are plentiful and are still actively looking for properties, and banks continue to be activing supporting these commercial purchases. Office leasing activity will remain strong as well. We are finding that most business owners are bullish about the effects of the pending new tax bill and feel that together with a new tax bill and a strong overall economy the commercial space will see a strong 2018.
What was your most notable project, deal, or transaction in 2017? Conway Commercial and Conway Development Sales has had a great year with many exciting transactions in commercial, industrial, development and leasing with three notable ones among the many to celebrate: Vice president of Jack Conway Commercial, Paul Durgin, brought both the buyer and the seller to the table to an industrial property located at 1217 Hyde Park Ave., Hyde Park. At a sale price of $1,250,000 this Hyde Park property is a partially tenanted industrial building that will be slated for redevelopment as a residential, commercial mixed use property. Commercial sales associate, Dave Ellis handled the $1,650,000 buyer for 15 Scotland Blvd. in the Bridgewater Industrial Park. The buyer for this property was S & W Electric who previously I utilized Dave’s services to sell their former location in West Bridgewater. The property is partially owner occupied and the new owners made Class A level office improvements. It has terrific curb appeal and is one of the most attractive properties in the Park. And through our new Cityside/Seaport office Jay Rooney, director/senior sales associate of for the City of Boston, successfully worked with developers at 205E St. to purchase and redevelop 205E St. South Boston. Has successfully closed 17 of 34 units, ranging from $699,000 - $1,500,000 in sale price.
