Bret O'Brien of Greater Boston Commercial Properties, Inc. brokered the sale of 51,000 s/f, 2.78 acres at 19 Willow St. Greater Boston Commercial Properties, Inc. represented the seller Nickinello Realty Trust, and was engaged by the bankruptcy court as the exclusive broker for the property, which sold for $2.4 million, and was financed by Brookline Savings Bank.
The property was rebranded during the marketing effort by O'Brien as The Natick Business Center, and offered the buyer over $300,000 in annual net income, but there are a substantial amount of capital improvements and other work required in the first year. The property consists of three interconnected buildings with over a dozen tenants, and is anchored by Broadway Bound Dance, Tir Na Nog Daycare and Metrowest Jiu Jitsu, but also includes a number of smaller office and industrial users.
Greater Boston Commercial Properties was the sole broker of record in the transaction, and procured the buyer, Daly - Natick, LLC, which is an affiliate of The Daly Company. The Daly Company plans to complete all of the required work, make renovations to exterior in terms of the façade, entrance ways and sidewalks that will enhance the appearance and alter the nature of the property. The vacant 13,650 s/f of industrial space shall be converted to class A office space and divisible to almost any size range. Greater Boston Commercial Properties, as the leasing agent for the new ownership will target medical tenants for the available space.