Dennis Kelleher and John Pentore of the Horvath & Tremblay Group of Marcus & Millichap Real Estate Investment Services have brokered the transaction of the 33-unit multifamily apartment building located at 1029-1041 Main St.
The two brick apartment buildings, located at 1029 Main St. and 1039-1041 Main St., are comprised of 33 units. The buildings were constructed in 1920 and are situated on a 0.58 acre lot. Clark University is located one half mile northeast of the property, and the town hall two miles north. The property is accessible via I-290. With a walk score of 82, this location also provides a number of restaurants, pubs, entertainment and necessities within a close distance. Also located on Main St. is the newly renovated YMCA.
The property closed at a sale price of $1.178 million. Kelleher and Pentore exclusively represented both the seller, HCP Properties, Inc., as well as the buyer, Salisbury Worcester LLC.
With over 1,300 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 6,600 transactions in 2013 with a value of approximately $24 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry's most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.