Reardon and Connolly of CB Richard Ellis/New England handle $2.75 million sale for MassInnovation

CB Richard Ellis/New England (CBRE) completed the sale of 9 Alpha Rd., a 92,844 s/f industrial building. MassInnovation, a sustainable development company, sold the asset to the Town of Chelmsford for $2.75 million. The CBRE team of Mark Reardon, executive vice president/partner, and David Connolly, Senior vice president/partner, represented MassInnovation in the transaction. Built in 1966 and renovated in 1984, 9 Alpha Rd. is ideally located at the intersection of Rte. 3 and I-495 and close to Rte. 128, I-95 and I-93. The 92,844 s/f building can be used as a warehouse, distribution or light manufacture facility with attached office space. 9 Alpha Rd. offers interior warehouse space broken up into three 30,000 s/f warehouse sections, each with 18' clear ceilings and spacious column placing. Loading docks are spread around the building to help prevent congestion and facilitate the easy on-and-off loading of goods. Approximately 3,696 s/f of office space at the facility provides many individual offices and workrooms, meeting rooms, kitchenettes, and bathroom facilities CB Richard Ellis Group, Inc. , a Fortune 500 and S&P 500 company headquartered in Los Angeles, is one of the world's largest commercial real estate services firms (in terms of 2009 revenue). The company has approximately 29,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CBRE New England, a CB Richard Ellis Joint Venture has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. The firm serves real estate owners, investors and occupiers by offering strategic advice and execution for: property leasing and sales, property facilities and project management, corporate services, debt and equity financing, investment management, valuation and appraisal, research and investment strategy, and consulting.