Framingham, MA Dan Waldman of Waldman & Associates, Paul Carter of The Carter Group and Ria McNamara of Retail Real Estate Advisors teamed up to sell 100 Worcester Rd. (Rte. 9) in for $3.44 million.
For the past 50 years the same family has owned 100 Worcester Rd. This is an 11,000 s/f building that has a long history of being a warehouse to store buses for the Commonwealth and morphing into a popular retail location featuring Mattress Firm and the Vitamin Shoppe. For several years, due to structural issues, the building has been vacant.
The owner marketed the property with two previous firms without success when the owner contacted Waldman. He met with the owner and after touring with the owner pointed out that despite the superior location the ceilings were too low and gave the feeling of being too claustrophobic.
Waldman knew if the roof issue could be resolved there would be enormous interest in either buying or selling the property and Waldman brought in Carter to assist. “Paul and I worked on some other challenging projects together and we were successful, and I knew this site would draw a lot of attention.”
Carter said, “The interest was extremely strong and we had many calls and showings and this was reflected in the sale price. We basically sold it for the listing price.”
McNamara had the perfect buyer which was Blinds To Go. A sale price was quickly negotiated, but because this has been in the same family for so long there were easement and environmental issues but buyer, sellers and three brokers worked together and the issues were resolved and the property was sold.
McNamara said, “I knew Blinds To Go was looking to establish a presence in the popular Rte. 9 corridor and when I told BTG they were really excited. It did take a long time to close but Dan, Paul, the lawyers, both buyer and seller and me all worked as a team. BTG told me this will be their flagship showroom in Massachusetts.” Blinds to Go operates over 100 showrooms in Canada and the USA.