Pierce of Marcus & Millichap arranges sale of 4,150 s/f office

Quincy, MA Marcus & Millichap brokered the sale of a Whitney Rd. building, a 4,150 s/f office property, according to Thomas Shihadeh, regional manager of the firm’s Boston office. The asset sold for $1.05 million.

Matthew Pierce, an investment specialist in Marcus & Millichap’s Boston office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. Pierce also secured the buyer.

Pierce said, “This asset was an owner/user who owned the property since the late 1990s, and due to the pandemic, decided to move their business remotely full time and sell the building. Given the location in Quincy Center, proximity to the MBTA, and current and future redevelopment in the area, we had a great market response for a vacant building and were able to achieve 98% of the list price for the sellers.”

Located at 17 Whitney Rd., the property is a five-minute walk to the Quincy Center MBTA station for train and bus into downtown Boston. The asset is also within walking distance to the $1.6 billion Quincy Center redevelopment project that includes several residential and mixed-use buildings, notable employers, restaurants, and shopping. The asset has been maintained and features new windows, carpeting, repaved driveway, and updated bathrooms, among many other capital improvements. The asset was delivered vacant.