DApice of KW Commercial completes $8.3 million 14-parcel portfolio sale

March 19, 2015 - Front Section

2 Littles Lane - Peabody, MA

65 Main Street - Peabody, MA

Brian DApice, KW Commercial

10 Lowell Street - Peabody, MA

3.5 Littles Lane - Peabody, MA

6 Littles Lane - Peabody, MA

77 Main Street - Peabody, MA

3 Littles Lane - Peabody, MA

12 Peabody Square - Peabody, MA

61 Main Street - Peabody, MA

43 Main Street - Peabody, MA

1 Littles Lane - Peabody, MA

4 Littles Lane - Peabody, MA

Brian DApice, director of KW Commercial in Beverly, has completed the sale of a14-parcel portfolio of mixed-use properties for $8.3 million. There were twelve buildings and two parking lots consisting of 150 units, 22 of which are retail, with the balance primarily residential units.
DApice exclusively represented the seller David J Gordon Realty Trust and procured the buyer Northfield Properties.
"This transaction represents a significant portion of downtown Peabody, a community very quickly on the rise" said DApice, who has established himself as a top-producing investment broker on the North Shore.
Reading Cooperative Bank arranged the first mortgage on the sale.
The properties included in the portfolio included the following:
* 61 Main St. is a 10 unit mixed-use brick building consisting of 8 residential and 2 retail units.
* 65 Main St. is a 38 unit mixed-use brick building consisting of 34 residential and 4 retail units.
* 77 Main St. is an 18 unit mixed-use brick building consisting of 16 residential and 2 retail units.
* 43 Main St. is a 3 unit retail building with a vacant warehouse, formerly known as The Strand Theater.
* 3.5 Littles Ln. is a classic 3 unit residential triple-decker.
* 1 Littles Ln. is a 15 unit mixed-use brick building consisting of 13 residential and 2 retail units.
* 2, 3, 4 & 6 Littles Ln. are individually 6 unit residential brick apartment buildings.
* 12 Peabody Sq. is a 32 unit mixed-use brick building consisting of 26 residential and 6 retail units.
* 10 Lowell St. is a 6 unit mixed-use frame building consisting of 3 retail and 6 office units.
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