The investment sales team at KeyPoint Partners, LLC has completed the sale of Beaver Brook Village on Mill St., according to Jonathan Aron, vice president of investment sales. KeyPoint Partners represented the seller and procured the buyer via auction.com. The sale price was $4.9 million.
Beaver Brook Village is a distinctive mixed-used development with 47 residential units and approximately 69,000 s/f of commercial space, located at the corner of Lakeview Ave. and Mill St. in the Collinsville section. The residential units were fully renovated in 2007. The commercial space is anchored by the upscale Owen & Ollie's restaurant, which recently expanded to 7,373 s/f.
"Beaver Brook Village has a strong location in a good community, with a stable roster of existing tenants," Aron said. "The new owner can achieve excellent upside potential by renting the exiting vacant apartments and commercial space, and raising rents over time."