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Owners Developers & Managers
Posted: September 4, 2020
Shields of The Realty Advisory, Inc., represents the seller and procured the buyer in a $5.333 million sale
Hyannis, MA John Shields, principal, The Realty Advisory, Inc., represented the seller and procured the buyer in a $5.333 million sale of 624 Iyannough Rd. The seller was MDM Hyannis, LLC, a local group. The buyer was NECR Hyannis, LLC, a single purpose entity, created for a family office.
The property consists of 24,475 s/f on 2.48 acres located directly on Rte. 132. The sold property was under a 10 year lease to Harbor Freight Tools, Inc.
Recently extended lease, arranged by The Realty Advisory, Inc. created value add opportunity for the sellers, allowing them to sell and pursue other opportunities.
The nationwide platform for NNN properties created hundreds of active inquiries. This resulted in a lot of activity, allowing them to generate an all cash offer for the clients.
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