Saturday, March 7, 2015

Abington, MA Retail Center Sells for $2.6 Million; Northeast Private Client Group Represents Seller Exclusively


Drew KIrkland

Framingham, MA – Investment sales broker Northeast Private Client Group has announced the sale of the 21,000 square foot multi-tenant commercial property located at 1035 Bedford Street, Abington, MA.

 Drew Kirkland, a senior associate in the firm’s Framingham office, represented the seller exclusively in the $2,600,000 transaction, which closed on February 27. 

“The successful completion of this sale is yet another positive indication of the strong demand for commercial properties in suburban Boston submarkets,” said Kirkland. “We were able to create tremendous competition among qualified buyers to acquire this asset.”

The mixed-use property, located on Route 18 in Abington, MA, approximately 15 miles south of Boston, comprises 8,400 square feet of retail, 4,600 square feet of office and 8,000 square feet of warehouse space.  The property was built in 2005 and operates at 95% occupancy.

The seller, Elaine Realty of Quincy, MA, sold the asset as part of an IRS-1031 exchange strategy. 

Edward Jordan
The buyer, a private investor from Weymouth, MA, was represented in the transaction by David Ellis of Jack Conway Commercial in Norwell, MA. 

The buyer acquired the property at price equivalent to $125 per square foot, a 7.0% capitalization rate on actual net operating income.

“This transaction clearly played to the strengths of our platform,” said Edward Jordan, JD, CCIM, managing director of Northeast Private Client Group.

  “With offices throughout the Northeastern U.S., we executed successfully for our client and closed the transaction at top market value.”



For a complete copy of the company’s news release, please contact:

Randy Savicky
Founder/CEO
Strategy+Communications
Connecting the New PR & Marketing to Business Goals
203-226-6156


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