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Category: Owners Developers & Managers
Pierce of Marcus & Millichap completes $710,000 building sale
January 18, 2019
Worcester, MA Marcus & Millichap has completed the sale of 148-152 Millbury St., a 9-unit mixed-use apartment property, according to Tim Thompson, regional manager of the firm’s Boston office. The asset sold for $710,000, 98% of the asking price, at an 8% capitalization rate.
What do you mean “the contract is binding?” - by Nisha Koshy
January 18, 2019
With very few exceptions, any agreement for the purchase or sale of real estate in Massachusetts must be in writing to be enforceable. For decades, real estate agents, developers, sellers and buyers have used preprinted forms titled “offer to purchase” to set forth the essential but initial terms of the deal.
Cumberland Crossing by Oceanview begins construction of 50 two-bedroom cottages in Cumberland, ME
January 11, 2019
Cumberland, ME Cumberland Crossing by Oceanview is officially under construction after a groundbreaking ceremony attended by developers, town officials and project stakeholders. The retirement community is a sister location to OceanView at Falmouth and is based on that successful model
CBRE’s Butler and St. John handle $42.4 million sale of Cabot Crossing
January 11, 2019
Lowell, MA CBRE/New England has completed the sale of Cabot Crossing, a 252-unit, 100% market-rate apartment community. According to public record the property sold for $42.4 million. CBRE/NE’s multi-housing experts Simon Butler and Biria St. John exclusively represented the seller
Linear Retail Properties acquires 19-21 School St. for $5 million - Edward, Golden and Gifford of Pe...
January 11, 2019
Boston, MA Linear Retail Properties, LLC has acquired 19-21 School St., a three-story, 8,131 s/f building in the Downtown Crossing neighborhood of the city. The property is located near the intersection of School St. and Washington St. on the Freedom Trail
Opportunity zones: Development bonanza or not so much - by Jonathan Avery
January 11, 2019
The Tax Cuts and Jobs Act of 2017 includes provisions which have the potential to encourage a new round of stimulus to investment in commercial real estate located in rural areas and distressed urban areas. In particular are the provisions which provide tax incentives for reinvestment of capital gains, tax deferred
United Multi Family brokers $3.725 million 30-unit apartment building sale - sold by RBT Avon Realty...
January 11, 2019
Avon, MA United Multi Family (UMF)has brokered the sale of a 30 unit apartment building at 29 Leos Ln., for $3.725 million ($124,167 per unit). Rich Cawley and Kurt Cawley of UMF brokered the sale.
Ouellette and Strong of Harriman are now licensed in Maine
January 11, 2019
Jamie Ouellette, AIA, a project manager in the firm’s K-12 Education Studio, is now a licensed architect in the state of Maine. Ouellette has worked on complex ground-up, renovation, and expansion projects
Jacobs of NAI Glickman Kovago handles two sales totaling $1.55m
January 11, 2019
Worcester, MA Michael Jacobs, principal at NAI Glickman Kovago & Jacobs, represented the seller, the Montachusett Girl Scout Council, and the buyer, Lisciotti Development in the recent transfer of real estate at 79-81 Gold Star Blvd.
Emuge Corp. breaks ground on 22,000 s/f expansion project
January 11, 2019
West Boylston, MA Emuge Corp., a leading manufacturer of high-performance taps, drills, end mills and other rotary tools, has broken ground to build a 22,000 s/f expansion project that will double the size of its U.S. headquarters and manufacturing facility.
O’Brien of Greater Boston Commercial Properties completes 18,700 s/f in leases
January 11, 2019
Northborough, MA Bret O’Brien of Greater Boston Commercial Properties recently completed an 18,700 s/f leasing spree at 44 Bearfoot Rd. The property is located off I-290 at the first exit coming from I-495 by the Solomon Pond Mall.
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