Aron of Metrowest Commercial and Fried of Great Rock arrange auction
Marlene Aron, senior broker at Metrowest Commercial Real Estate in conjunction with Jeremy Fried, principal of Great Rock Auctions, formerly of Flynn Auctioneers, recently orchestrated the sale of 106 Southville Rd., a 10,600 s/f, newly constructed two-story office building.
The building boasted mahogny woodwork, high-quality finished lobbies, an elevator and sprinkler system, but was not fully build-out.
Aron had been the marketing agent and advised the seller, High Tech Real Estate, to look into considering an auction. According to Aron, "Fried's expertise of maximizing the value for seller, while giving the buyers a platform to buy gives the seller a true market value for their property. The selling price of $840,000 was less than we hoped for, but in a market where buyers are in a 'sit and watch mode' it was best venue for the seller who wanted to move on now."
The buyer, Paul Mastroianni, a builder/investor, will complete custom designed build-outs for tenants. He was represented by Tony Pinto of Pinto Real Estate, who will market the property for lease.
New England’s notorious weather – from fierce winter storms to summer squalls and fall hurricanes – can leave businesses in the dark. While power outages are often blamed on storms, they can also be caused by unforeseen events like accidents or construction mishaps. While it’s impossible to prevent disasters and power outages entirely, proactive preparation can significantly minimize their impact on your commercial building.
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary