Marlene Aron, senior broker at Metrowest Commercial Real Estate in conjunction with Jeremy Fried, principal of Great Rock Auctions, formerly of Flynn Auctioneers, recently orchestrated the sale of 106 Southville Rd., a 10,600 s/f, newly constructed two-story office building.
The building boasted mahogny woodwork, high-quality finished lobbies, an elevator and sprinkler system, but was not fully build-out.
Aron had been the marketing agent and advised the seller, High Tech Real Estate, to look into considering an auction. According to Aron, "Fried's expertise of maximizing the value for seller, while giving the buyers a platform to buy gives the seller a true market value for their property. The selling price of $840,000 was less than we hoped for, but in a market where buyers are in a 'sit and watch mode' it was best venue for the seller who wanted to move on now."
The buyer, Paul Mastroianni, a builder/investor, will complete custom designed build-outs for tenants. He was represented by Tony Pinto of Pinto Real Estate, who will market the property for lease.