News:
Brokerage
Posted: December 24, 2014
KeyPoint Partners sells Beaver Brook Village for $4.9 million
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."
MORE FROM Brokerage
Goldberg of Spire Investments purchases Beverly portfolio for $9.2m
Beverly, MA Jay Goldberg, president and owner of Spire Investments has completed the purchase of four multifamily buildings. The 33-unit purchase amounted to a sale price of $9.2 million or $278,788 per unit. The properties are all located in downtown and consist of one- and two-bedroom units.
Columns and Thought Leadership
End of the year retail thoughts - by Carol Todreas
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.