Goldberg of Spire Investments acquires 6 Paradise Rd. for
$1.8 million - Hark and Shapiro of the Drumlin Group rep. seller

Salem, MA Spire Investments has completed the acquisition of 6 Paradise Rd. for $1.8 million. The property, which is located in Vinnin Sq. and will draw customers from Marblehead, Swampscott, Salem, Lynn, and other surrounding communities consists of a single story 2,868 s/f building on .54 acres. Jay Goldberg, owner and president of Spire Investments, purchased the property vacant, formerly a People’s Bank Branch with a double drive-thru. 

Goldberg secured a long-term lease with a new bank tenant, Institution For Savings, immediately during the due diligence period. “I saw upside in this property from the start,” said Goldberg. “The most logical fit was a bank, but even if a bank did not go in this location, there would be a multitude of possibilities. Ultimately, Institution For Savings, with its growing footprint in the market, was the perfect tenant to align with for this location.” 

The property, benefiting from a location at the intersection of several cities, will undergo improvements over the next several months, and is expected to open next year. 

David Hark and Mark Shapiro of the Drumlin Group represented the seller in the transaction. 

Spire Investments has also recently completed the sale of an eight unit multi-family property in Haverhill. 

Spire Investments invests, owns, and manages assets ranging from commercial to residential properties throughout New England. The company brings together decades of real estate investment and management experience with a modern approach to acquiring and overseeing properties that will generate the greatest value today and for years to come. Spire Investments is focused on growth and returns while building long-term relationships with tenants, investors, and brokers, as well as with the communities it’s a part of.