As the Massachusetts cannabis industry grows, so do the real estate opportunities. Even REITs are getting their feet wet in the nascent industry! Appropriately zoned properties are necessary for cultivation, processing, and retail establishments, and cannabis entrepreneurs need knowledgeable representatives to help them navigate the complexities of purchasing or leasing a property.
Dracut, MA Vantage Builders, Inc., a general contracting, construction management and design-build firm based in Waltham, Mass., has completed the build-out of GreenStar Herbals’ first recreational cannabis dispensary. The 13,000 s/f shop, located at 76 Pleasant St., opened on October 5
th. GreenStar offers a wide variety of recreational cannabis products, including flowers, tinctures, oils, salves, patches, and various edible choices.
Peabody, MA Chris Everest and Kevin Olson of Nordlund Associates, Inc. negotiated the $1.375 million sale of 2 Bourbon St., a 15,800 s/f office with land associated. Nordlund represented the seller, PCE Co LLC. Jacob VanMeter of Re/Max 360 represented the buyer, Ideal Healthcare Systems Inc.
Scituate, MA Ellis Realty Advisors, has completed the sale of 131 Front St. Adam Bauer of The Business Exchange represented the buyer 131 Front Street LLC. David Ellis of Ellis Realty Advisors represented the seller, Scituate Harbor Limited Partnership. The 8,400 s/f mixed use building
Woburn, MA Medical device developer Qlibrium has relocated from a laboratory at University of Massachusetts Lowell’s Massachusetts Medical Device Development Center to 16 Tower Office Park, a Cummings Properties-managed building. The 4,700 s/f facility will house the firm’s offices
Boston, MA The Real Estate Roundtable’s 24-member board of directors has approved John Fish (CEO and chairman at Suffolk) as the organization’s chair-elect, to begin his term as chairman of the Roundtable in mid-2021.
Cambridge, MA David and James Stubblebine, principals of The Stubblebine Company/CORFAC International, sold 67 Smith Place in the Alewife neighborhood, to Cabot Cabot & Forbes (CC&F) for $49.6 million. The 4.4 acre parcel consists of three industrial buildings
Woburn, MA Full-service commercial real estate firm Cummings Properties has appointed Susan White as its director of sales. White will manage the company’s business development efforts across 10 of the 11 suburban communities in which it operates. In addition to leading a six-member team, White will formulate leasing strategy, foster industry relationships, and spearhead new lease negotiations. White’s professional background includes founding a hardware technology company, growing it over 25 years, and leading it through a successful acquisition.
In with the Internet, out with the stores? To be or not to be, physical stores are in question. Or in other words, in a post-COVID era, how will consumers behave? Have we now adapted completely to online shopping that it will be the default behavior or will there be a return to pre-COVID days where people mingle together with friends and family in physical stores to enjoy an old fashioned shopping experience? And, if so, where?
Wareham, MA Newman Properties’ affiliate South Shore Apartments, LLC, has purchased a portfolio of seven buildings in Onset and Wareham. The total price for the package was $8.282 million. Financing was done through Norwood Bank. The portfolio consists of a total of 70 units, of the 70 units 58 are apartments that consist of a mix of studios, one-bedrooms, two-bedrooms, and one three-bedroom apartment. The other 12 units consist of commercial and office suites.
