 (1).png)
News:
Owners Developers & Managers
Posted: October 9, 2020
Greater Boston Commercial Properties brokers $5.65 million sale - Aho Properties, LLC procured the buyer Ciminelli Real Estate Corp
Northborough, MA Bret O’Brien of Greater Boston Commercial Properties, Inc. recently brokered the sale of 44 Bearfoot Rd. for $5.65 million.
Greater Boston Commercial Properties handled the leasing of 44 Bearfoot Rd. in recent years after all of the prior tenants vacated over a short period of time. Vacancy rates for office space have actually been increasing in the Boroughs by about 1.5% per year for the last three years even before COVID hit.
Despite these strong headwinds O’Brien procured twelve new tenants at the property demonstrating Greater Boston Commercial Properties ability to get results and outpace the market. The asset was 93% leased and the $126 per s/f price represented a net effective capitalization rate of 6.9% at the time of sale.
O’Brien represented the seller Solomon Pond Crossroads, LLC and Aho Properties, LLC procured the buyer Ciminelli Real Estate Corp.
The transaction represents the fourth sale by Greater Boston Commercial Properties in the town this year as the company continues to expand its market share in the region.
MORE FROM Owners Developers & Managers
Atlantic Property Management expands facilities maintenance platform: Assigned two new facility management contracts in RI
Boston, MA Atlantic Property Management (APM) has expanded its internal facilities maintenance and operations platform and has been assigned two new facility management contracts in Rhode Island. The properties will undergo redevelopment and repositioning
Quick Hits
 (1).png)
Columns and Thought Leadership
Unlocking value for commercial real estate: Solar solutions for a changing market - by Claire Broido Johnson
As the commercial real estate market continues to navigate the disruptive forces of rising vacancy rates and increasing operating costs, landlords are under pressure to find new levers to protect income and strengthen asset performance. Amid these challenges, onsite solar and battery storage – particularly when financed through third-party ownership models – are emerging not just as environmental upgrades, but as powerful financial strategies.
New Quonset pier supports small businesses and economic growth - by Steven J. King
Quonset recently celebrated a milestone nearly 70 years in the making when federal, state, and local leaders joined us for the ribbon cutting of the new Terminal 5 Pier and Blue Economy Support Docks at the Port of Davisville.
Tenant Estoppel certificates: Navigating risks, responses and leverage - by Laura Kaplan
When it comes to the sale or financing of real property, tenant estoppel certificates are not just formalities – they are crucial documents that confirm the status of existing leases. Tenant estoppel certificates offer prospective buyers and lenders necessary assurance regarding the property’s financials and any
Connecticut’s Transfer Act will expire in 2026. What should property owners do now? - by Samuel Haydock
A major shift in Connecticut’s environmental law is on the horizon: the state’s Transfer Act will expire next year, ushering in a new cleanup program with broader applicability and new triggers.