News:
Owners Developers & Managers
Posted: August 16, 2024
Pierce of Marcus & Millichap facilitates $18.9 million portfolio sale in Southbridge and Worcester, Mass.
Worcester, MA Marcus & Millichap has completed the sale of a 196-unit mixed-use portfolio in Southbridge and Worcester, Mass. The portfolio sold for $18.9 million.
“The seller had been in the business for over 30 years, and we went to market with both portfolios, ultimately securing an investor group interested in acquiring the seller’s entire portfolio,” said Matthew Pierce, first vice president of investments in Marcus & Millichap’s Boston office. Pierce had the exclusive listing to market the property on behalf of the seller, a local private investor, and procured the buyer, a private LLC.
The Southbridge portfolio consists of 157 apartment units across 26 properties, and the Worcester portfolio includes 37 apartments and two retail units across seven properties.
MORE FROM Owners Developers & Managers
Routine Properties acquires Bristol Business Park at 383 Middle St. - 406,665 s/f industrial campus
Bristol, CT Routine Properties, a boutique real estate development and investment firm specializing in industrial assets throughout the Northeast, has acquired the Bristol Business Park, a 406,665 s/f industrial campus located at 383 Middle St.
.png)
Quick Hits
Columns and Thought Leadership
IREM president’s message: Our new reality - Staying ahead of supply chain delays - by Yoany Vargas
Supply chain delays are slowing construction, ratcheting up operating costs, and extending turnover timelines across Greater Boston, directly reducing revenue and increasing the workload for multifamily and
Florida ruling raises bar for condo terminations and buyouts - by Michael Karsch
On October 14, 2025, in a landmark decision with significant implications for the Florida real estate market, the Supreme Court of Florida formally denied Two Roads Development’s (TRD Biscayne LLC) petition for review in its long-running case against unit owners of Biscayne 21,
Revitalized Town Centers: Retail??? - by Carol Todreas
It is now widely accepted that customers want to shop in person at physical stores. Brands know that they do better business in a physical store than just on line so they want to open stores. Demand for retail space by digital merchants, local entrepreneurs, and newly developed national chains
Retail infill strategy to activate Pawtucket’s Conant Thread District - by Gaetan Kashala
Until recently, the Conant Thread District consisted of approximately 150 acres of underutilized industrial land spanning Pawtucket and Central Falls. Today, the area is one of the most significant
 (1).png)