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Quincy, MA The Conrad Group, Inc. has sold 1200 Hancock St. to FoxRock Properties, LLC. The four story, 47,000 s/f office building is centrally located and for decades, it has been a prominent city landmark.
Stamford, CT According to George Comfort & Sons, Inc., WWE has completed a 415,000 s/f lease agreement at 677 Washington Blvd. in downtown. The three-building complex is now 72% leased. The agreement represents a major step forward in restoring the property’s standing as the commercial center of downtown.
Wakefield, MASouth Coast Improvement Company (SCI) has expanded the capabilities of its life sciences division through a partnership with STEM Solutions LLC (STEM). The company specializes in providing casework, systems, fume hoods, fixtures and equipment for commercial and educational laboratories.
Commercial real estate has for far too long lagged behind the rest of the world in embracing modern technology, asking employees to meet today’s market expectations with yesterday’s tools. In commercial leasing, it’s the norm for it to take 90 days to close a deal, something that would not be acceptable in any other industry.
As part of the “Tax Cuts and Jobs Act” enacted in late December 2017, the definition of eligible property for Section 1031 exchanges was changed dramatically. After many decades of allowing exchanges of personal (i.e., non-real) property, Section 1031 treatment is now restricted only to real property exchanges.
The continuing strong real estate market in the Greater Boston area and throughout New England has given investors substantial equity in their properties subjecting them to higher capital gains taxes on the sale of such properties. Consequently, more investors, both U.S. and foreign, are using 1031 tax-deferred exchanges in order to defer paying capital gains taxes.
Cranston, RI On behalf of First Bank and Trust Co. of Illinois, CBRE completed the sale of 2700 Plainfield Pike, to Equity Industrial Partners for $6.937 million. Equity Industrial Partners plans to update the 234,600 s/f
Boston, MA Premier Capital Partners LLC has purchased five apartment buildings for $32.45 million. The properties consist of 58 short-term/licensed lodging-house units which Premier purchased in August 2018, and
Devens, MA Newmark Knight Frank (NKF) has completed a 247,060 s/f lease renewal and expansion to Nypro, Inc. at 112 Barnum Rd. NKF executive managing directors J.R. McDonald and Torin Taylor, along with
