Bret O'Brien of Greater Boston Commercial Properties (GBCP) and Rick Kaplan of RE/MAX Executive Realty commercial division recently completed the sale of 145 Constitution Blvrd. for $3.05 million. The block industrial building, which was constructed in 1999, is 43,128 s/f on 4.3 acres, and offers 24' clear height in the warehouse and 7,233 s/f of single story office space.
Shown (from left) are: Rick Kaplan, Bill Donovan, Robert Bubencik Sr., Robert Bubencik, Jr., and Bret O'Brien.
Kaplan represented the seller, One Forty Five Constitution Boulevard, LLC, owned by Bill Donovan.
O'Brien represented the buyer Robert Bubencik, whose company Eagle Stainless Tube Corp. is located in 38,000 s/f at 10 Discovery, also located in The Franklin Industrial Park.
Initially Eagle will utilize only the 36,000 s/f warehouse and manufacturing portion of the building and all of the office operations will remain at 10 Discovery Way.
In a separate transaction O'Brien and Kaplan arranged for Donovan to lease back the 7,233 s/f office portion of 145 Constitution Blvrd., as well as parking for eight of Donovan's trailers. Donovan's moving and storage business no longer requires use of the warehouse space, but its office personal will not be disturbed by the change in ownership of the building.
O'Brien has represented Eagle over the last four years during its expansion, which included a 9,100 s/f lease at 131 Fisher St. where the owner was also represented by Kaplan. After an extensive and thorough survey of existing buildings, and every potential land site, as well as evaluation of construction costs to build an 80,000 s/f facility, it became clear that adding a second building in the same park was the best solution. This will allow the company to remain at 10 Discovery Way, while expanding its warehouse and manufacturing operations at the second location. The timing of the listing of 145 Constitution Blvrd. was ideal, and an offer was accepted in less than two weeks' time.