Edward Carbone, CCIM, of Carbone Commercial Real Estate, Inc. and John Bachini of the Thomas Group, LLC brokered the sale of three industrial buildings, consisting of a total of 21,302 s/f to The Cieri Group. The property located at 235 Salem St. consists of 13,502 s/f and the adjacent property at 4 Hancock St. consists of 7800 s/f. They were sold for a total price of $1.65 million.
The Cieri Group is a family-owned real estate company. Cieri owns and manages various commercial real estate all located in the city.
Frank Cieri, president of Cieri said, "Cieri Group is excited to be acquiring these three buildings, they fit perfectly into our portfolio and we are aggressively seeking additional industrial properties in the Woburn area. The Cieri Group had been in the market for additional properties in this area and these fully leased buildings presented a solid long term investment for us."
Financing was provided by People's United Bank. Carbone represented Cieri Group, and Bachini represented the seller.