News: Front Section
Posted: May 31, 2012
Aron of Metrowest Commercial Real Estate brokers $992,062 sale
Marlene Aron, senior broker of Metrowest Commercial Real Estate, has sold 120 Pond St., a 19,430 s/f former tennis club facility known as Tri-Valley Tennis Club for over 20 years. The property is located on a 4 acre parcel with over 1,000 feet of frontage on Rte. 126.
Aron represented the property owner, Siegel Family Limited Partnership. The facility was purchased by the operators of Boston Paintball, who was represented by Gallo Real Estate. Boston Paintball now operates facilities in Maynard and Chelsea and has a retail store in Framingham.
The selling price was $1,017,500, but was recorded at an adjusted price of $992,062, due to Gallo Real Estate waiving its fee.
Aron said, "This sale took longer than most, due to the seller wanting to only lease the building for the first 14 months of marketing. Many parties would only consider purchasing due to the amount of capital needed to renovate the premises. The buyers, Matteo Gallo and Anthony Vitali, were a pleasure to work with. Financing was provided by a private party."
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