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Worcester, MA David and James Stubblebine, principals of The Stubblebine Company, and David Skinner, senior advisor, represented Millbrook Property Owner, LLC in the 98,782 s/f lease at 53 Millbrook St. They also directly procured the tenant, Polar Beverages.
Stoughton, MA The Conrad Group consummated the sale of 1644 Turnpike St. for 1644 Turnpike Street, LLC. The three-story, 17,627 s/f office building is strategically located ¼ of a mile from Rte. 24, at the intersection of Rte. 24 and Turnpike St. It has excellent visibility and offers excellent office space.
Beverly, MA Stephen Girolamo of Horvath & Tremblay has arranged the sales of two apartment buildings consisting of 12 units for $2.597 million. 42 Beckford St. sold for $1.29 million ($215,000 per unit) and 26-28 Railroad Ave. sold for $1.307 million ($217,833 per unit).
Guilford, CT According to the
Financial Times, the capital markets are awash in money looking for access to private lending. Michael Mackenzie and Eric Platt reported in October 2020 that there are 520 asset managers, including blue-bloods like Goldman Sachs
Lowell, MA SVN | Parsons Commercial Group | Boston has completed the sale of a 33,000 s/f two-story building on 1.04 acres at 81 Bridge St. for $2.57 million. Senior real estate advisors, Marci Alvarado and Jake Parsons of SVN| Parsons represented the seller, Bridge Street Business Center, LLC and procured the buyer, Mill Bridge Residential, LLC.
Boston, MA JLL Capital Markets has arranged the $12.25 million sale and acquisition financing for a 26,500 s/f, fully leased, last-mile industrial property with ample delivery truck and van parking at 202 Southampton St. in the Newmarket District near downtown.
Wilbraham, MA Paul Bongiorni of SR Commercial Realty was the sole agent in the sale of a mill-style industrial property at 176 Cottage Ave. The property was formerly the Collins Manufacturing Company, which once produced paper for writing and currency. More recently, it was home to a plastics manufacturing company and other small businesses.
Manchester, NH North Branch Construction has begun work on renovations to two properties in the city owned by Families in Transition-New Horizons (FIT-NH). The renovations, made possible by funds received through the CARES Act, will allow FIT-NH to respond more effectively to operational limitations due to the COVID-19 pandemic and provide assistance for food insecurity and homelessness in the future.
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here’s what not to do:
1. Miss the 45-Day Identification Deadline: Upon closing on relinquished property, you have 45 days to identify in writing what you intend to acquire in the exchange.
Brockton, MA A settlement has been reached on a court challenge that was holding up redevelopment of the historic Brockton Furniture Building, clearing the way for 55 new apartments in a transforming downtown neighborhood, according to mayor Robert Sullivan.
