Brazeau and Hayes of Hayes & Sherry handle
$2 million sale for Southcoast Development

New Bedford, MA A unique corner property featuring four buildings has been sold by Hayes & Sherry, a Cushman & Wakefield alliance member, on behalf of its client Southcoast Development. The $2 million deal was brokered by Derek Brazeau and Pete Hayes, and closed in July.

Located on Ashley Blvd. at the corner of Dewey St., the 1.5 acre land parcel consists of four buildings that range in size from 1,530 s/f to 7,935 s/f. Combined, the structures represent nearly all segments of the market: Flex/warehouse space, retail, residential, and office.

The parcel was listed in the spring and generated a high level of interest due to its visibility, distinct makeup, and potential for end-user occupancy and investment opportunity. All units had previously been renovated and were seen in exceptional condition. Upon the sale closing, the residential and retail buildings were occupied and under lease.

The buyer, a local business owner, plans to occupy the flex building and make available the office space to lease.

“As we deepen our presence in southeastern Massachusetts, this was a tremendous opportunity to work with our client to bring a unique, multi-use building package to the market,” said Brazeau. “Flex space and properties with strong rental income potential remain attractive and in demand, and this particular parcel is a diverse assortment that you don’t often see become available in our area.”

Hayes & Sherry is a leading commercial real estate brokerage firm in New England and beyond. Its services span commercial leasing, investment sales, property investment analysis, land development and retail representation. Through its affiliation with Cushman & Wakefield, Hayes & Sherry offers an expanded depth of services supporting client needs across the country and the globe.