2019 Annual Review: Thomas Blakely of TRB Realty

What was your greatest professional accomplishment and most notable transaction announced by TRB Realty in 2019?
Exclusively on behalf of ownership, Stadium Auto Body and Shodis Realty Trust, in a portfolio sale transaction that closed in October of 2016, TRB Realty announced in 2019 that it negotiated a 50-50 joint venture transaction with Mugar Enterprises, which resulted in the sale and transfer of the Stadium Portfolio on Western Ave. in Allston, Mass. to Western Avenue Joint Venture LLC, for a proposed redevelopment anticipated to be anchored by the construction of approximately 539,400 s/f of office and research and development uses. These uses will be designed to accommodate research companies in the biotechnology and life sciences industry. The project is also anticipated to include approximately 21,100 s/f of ground floor retail uses, 40 residential units, and approximately 1,900 s/f of civic space. I was the exclusive listing agent and sole broker.

What are your predictions for commercial real estate in 2020?
As for commercial real estate predictions, I must say that I feel very optimistic and bullish about 2020, and beyond. The attractiveness and pursuit of resilient investment real estate as an asset class by investors will continue throughout 2020 and beyond in my opinion, as was the case in 2019—another banner year at TRB Realty, Certified Commercial Investment Brokerage. Real estate professionals are definitely familiar with the saying “location, location, location”. I like another phrase slightly modified “if it’s not broken, which it isn’t, don’t fix it. ;-) 

Wishing everyone a joyous Holiday season and a happy and peaceful New Year!