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Owners Developers & Managers
Posted: May 12, 2017
Kirkland and Saenz of Northeast Private Client Group broker $3 million sale
Brighton, MA Investment sales broker Northeast Private Client Group completed the sale of the 6,000 s/f mixed-use property located at 270 Parsons St. Drew Kirkland, senior associate in the firm’s Boston office, and Francis Saenz, investment associate with the firm, represented the seller and procured the buyer in the $3 million transaction, which closed on April 17.
“We have a proven track record of matching our Boston-area clients with qualified buyers for commercial and multifamily properties,” said Kirkland. “In this instance we worked exclusively for the owners of the property to manage a highly competitive process and identity the successful buyer for the asset.”
270 Parsons St. is a fully-leased, multi-tenant commercial property in a strategic position adjacent to the Mass. Pike. The property is well-positioned for continued appreciation, and a billboard on the property generates additional income for the owner.
The seller, Eastern Equity Partners LLC, is a Lynnfield, Mass.-based investor. The buyer, Brookline, Mass.-based City Realty Group, purchased the property for a price that equates to $500 per s/f, and a capitalization rate of 4.4%.
“Our team has a deep understanding of investment real estate with local expertise in regional submarkets from Boston to New York,” said Edward Jordan, JD, CCIM, managing director of Northeast Private Client Group.
“Our specialized knowledge and relationship-based approach provide unmatched results for our clients.”
Northeast Private Client Group is the leading mid-market investment sales firm in the region, and was recently named to the Inc5000 list of America’s fastest-growing private companies. With offices in New York, Connecticut and Massachusetts, the firm actively supports private investors looking to buy, sell or exchange mid-market properties including mixed-use, multifamily, retail and office assets. Northeast Private Client Group’s highly disciplined process is just one of the many reasons the firm has earned CoStar’s Power Broker designation year after year.
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