Hopedale, MA Bret O’Brien, president of Greater Boston Commercial Properties, Inc. (GBCP) completed two sales totaling $1.6 million. The first, a six building self-storage property at 20 Lake St., was purchased as an income generating investment property. First American Realty Corp. of Worcester, Mass., sold to an investment group from Milford, Mass. The 19,800 s/f storage property was 100% leased at the time of sale to a total of 73 different tenants occupying the 75 units. The purchase price represented a capitalization rate of 8.8%. O’Brien was the sole broker of record representing the seller and procuring the buyer directly.
The second recent sale by O’Brien was 252 John L. Dietsch Blvd., Milford, Mass., consisting of a 9,832 s/f manufacturing building on 1.84 acres of industrial land. GBCP represented the buyer, a principle of Paradise Metal Works. Paradise Metal Works plans to take occupancy of the building this summer to expand its growing operations. The company specializes in high end architectural metalwork with a primary focus on residential properties.