Allaire of Century 21 reps South Main Plaza in 10,000 s/f lease
Jeff Allaire of Century 21 Commonwealth Commercial represented the landlord, South Main Plaza, LLC in a 10,000 s/f lease at 146 South Main St. Cheri McCutchen of ERA Key Realty represented the tenant. The new tenant, The Blessing Barn is expanding their operation and moving from a smaller space nearby. The Blessing Barn is a donation based thrift store operated by Compassion New England. All proceeds are used to serve the community by providing a variety of services including but not limited to: free GED classes, fuel assistance, clothing, food, ESL classes, infant and children's services.
South Main Plaza is a 77,388 s/f retail center offering a mix of co-tenants in the retail, restaurant, and services industries.
Also, Allaire recently represented the seller in the sale of a mixed use 12 unit building at 130 Main St. in Woonsocket, R.I. The Kresge Building featured 3 retail units on the first floor with 9 upscale apartments upstairs. Bill Hermistone and Roy Carlin of New World Realty represented the buyer, AMBA Capital Group, Inc in the acquisition. This turn key property was fully rented at the time of the sale, with a monthly gross income of $8,500 per month. The sale price and the seller were not disclosed.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid: