Avon, MA According to Newmark Grubb Knight Frank (NGKF), Peter Whoriskey, managing director and Michael Frisoli, executive managing director, completed the sale of the 241,454 s/f building at 80 Stockwell Dr. The sale was completed on behalf of the property owner, Hilco Real Estate, a unit of Hilco Global. The transaction was valued at $9.55 million.
“We are thrilled to have represented Hilco Real Estate in the sale of 80 Stockwell Dr.,” said Whoriskey. “Hilco did an excellent job modernizing the facility and coupled with the location and flexibility of the asset made for a very attractive opportunity for the buyer.”
80 Stockwell Drive - Avon, MA80 Stockwell Dr. is a single-story, office and distribution warehouse facility located 20 miles south of Boston. The 12.7 acre property features 35,840 s/f of first-class office space as well as 205,614 s/f of warehouse space. The property features two presentation rooms, private offices, 22’ ceilings, 17 dock doors, and an open floor plate. 80 Stockwell Dr. is situated along Rte. 24, offering highway visibility and is within minutes of I-93, I-95, I-495 and Rte. 128.
NGKF represented the seller, Hilco Real Estate, and Joel Miller of Permanser represented the buyer.
NGKF is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents. With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC Partners is led by chairman and chief executive officer Howard Lutnick.
Hilco Real Estate is a trusted advisor and principal investor in commercial real estate transactions, providing a single integrated solution to maximize the value of value-add, opportunistic and obsolete real estate properties. By leveraging the integrated network and unique capabilities of the Hilco Global holding company, Hilco Real Estate tailors its approach to each project to efficiently redevelop or reposition complex real estate assets and liabilities. Hilco Real Estate is part of Northbrook, IL based Hilco Global, the world’s leading authority on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace. Hilco Global operates more than twenty specialized business units offering services that include asset valuation and appraisal, retail and industrial inventory acquisition and disposition, real estate and strategic capital equity investments.