 (1).png)
News:
Owners Developers & Managers
Posted: March 9, 2018
Remic Properties acquires 34,000 s/f Maine Eye Center for $8.2 million
Portland, ME Remic Properties has completed the $8.2 million acquisition of the 34,000 s/f Maine Eye Center. Maine Eye is the leading ophthalmology practice in the state and the sole tenant in the building located at 15 Lowell St. The acquisition was part of a 1031 exchange that Remic completed following the sale of its property in Peabody, Mass.
Gary Belowich, president of Remic said, “We are very pleased to have a successful 1031 exchange and thank Michael Pappas of Belmont Savings Bank and Cas Groblewski of Fantini & Gorga for their help in bringing this transaction about. We also appreciate the work of Tom St. Jean and Mary Lambert of Brookline Bank for their roles as the Qualified Intermediary.”
Jeff Matulis and Toby Scrivner of Stan Johnson Company represented the seller, Montecito Medical.
MORE FROM Owners Developers & Managers
Atlantic Property Management expands facilities maintenance platform: Assigned two new facility management contracts in RI
Boston, MA Atlantic Property Management (APM) has expanded its internal facilities maintenance and operations platform and has been assigned two new facility management contracts in Rhode Island. The properties will undergo redevelopment and repositioning
 (1).png)
Columns and Thought Leadership
New Quonset pier supports small businesses and economic growth - by Steven J. King
Quonset recently celebrated a milestone nearly 70 years in the making when federal, state, and local leaders joined us for the ribbon cutting of the new Terminal 5 Pier and Blue Economy Support Docks at the Port of Davisville.
Connecticut’s Transfer Act will expire in 2026. What should property owners do now? - by Samuel Haydock
A major shift in Connecticut’s environmental law is on the horizon: the state’s Transfer Act will expire next year, ushering in a new cleanup program with broader applicability and new triggers.
Tenant Estoppel certificates: Navigating risks, responses and leverage - by Laura Kaplan
When it comes to the sale or financing of real property, tenant estoppel certificates are not just formalities – they are crucial documents that confirm the status of existing leases. Tenant estoppel certificates offer prospective buyers and lenders necessary assurance regarding the property’s financials and any
Unlocking value for commercial real estate: Solar solutions for a changing market - by Claire Broido Johnson
As the commercial real estate market continues to navigate the disruptive forces of rising vacancy rates and increasing operating costs, landlords are under pressure to find new levers to protect income and strengthen asset performance. Amid these challenges, onsite solar and battery storage – particularly when financed through third-party ownership models – are emerging not just as environmental upgrades, but as powerful financial strategies.