Steingold, Feiner and Paskalis of MG Commercial arrange $3.1m portfolio sale

As part of a multi-property portfolio, MotoRing Technical Training Institute (MTTI) has purchased 3 properties formerly owned and operated by the Tasca Automotive Group. The properties include 1241 Fall River Ave. and 78 Leavitt St. both located in Seekonk. 1241 Fall River Ave. is a 31,000 s/f building that was the former Tasca Volvo Dealership and 78 Leavitt St. is a 14,000 s/f industrial facility which was used as their collision center. In addition, MTTI purchased 2 adjacent parcels of land from Tasca which will be used for additional parking. MTTI is a private technical training school that opened in 1982 and currently enrolls approximately 300 students per year. They are expected to open the new facilities in the 2nd quarter of this year. They will operate their training classroom in 1241 Fall River Ave. and the "on the job" training facility in 78 Leavitt St. The balance of the portfolio that is still available for sale includes 777 Taunton Ave. (Route 44), East Providence, R.I., a six acre site with a 20,000 s/f showroom/repair center and approximately 2 acres of land in Seekonk, adjacent to the former Tasca Volvo Dealership. The property was represented by Larry Steingold, Dan Feiner, and George Paskalis of MG Commercial R.E. They were the exclusive brokers in the transaction. The portfolio sold for $3.1 million.