Kerrigan, Jamieson and Coelho of Avison Young broker $26.45 million sale

 

 

 

Andover, MA According to Avison Young, Atlantic Management Corp. has purchased 200 Bulfinch Dr. in Andover (82,831 s/f), 15 Crosby Dr. in Bedford (70,712 s/f), and 5 Federal St. in Billerica (57,834 s/f) for a combined 211,377 s/f.

Avison Young principals Jack Kerrigan, Scott Jamieson, and senior vice president Mark Coelho, who are based in the firm’s Boston office, procured the buyer and the seller, a joint venture between Novaya Real Estate Ventures, Wheelock Street Capital and Setanta Realty Advisors.

Atlantic Management acquired the three buildings for $26.45 million. 

“This was a creative transaction structured to satisfy the buyer’s 1031 exchange needs,” said Jamieson. “Buyer and seller worked cooperatively to facilitate deal structure and timing related to some complexities concerning tenant occupancy, and the end result was positive for all parties involved.”

In Andover, off of I-93 at the River Rd. interchange, the flex R&D building at 200 Bulfinch Rd. provides access to nearby restaurants, child care, public and private golf courses, and several hotels including Wyndham, Courtyard by Marriott, and Staybridge Suites.

In Bedford, situated half a mile off Exit 26 on Rte. 3, the two-story office building at 15 Crosby Dr. offers corporate signage opportunities and is close to retail and restaurant amenities and Rte. 128.

In Billerica, located off the Concord St. exit on Rte. 3, the 5 Federal St. property features built out office space, Rte. 3 visibility, parking and is part of a master planned office park, The Fields. This three story, class A red brick office/R&D building is available in its entirety. 5 Federal St. can be leased or purchased andoffers terrific value for a tenant. 

Avison Young is one of the world’s fastest-growing commercial real estate services firms. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,400 real estate professionals in 79 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties.