News: Front Section
Posted: May 28, 2021
Atlantic Properties completes sale of two properties for $2.65 million
West Bridgewater, MA Atlantic Properties, a full service commercial real estate firm, completed the sale of 70 Pleasant St. and 264 West Dr., Melbourne, FL. The two-building portfolio was sold on behalf of Chasebay Real Estate Holdings LLC to an affiliate of Rhino Capital Advisors LLC, a Boston-based, privately held commercial real estate investment and development firm. The two fully leased properties sold for a combined price of $2.65 million and are both occupied by Sunburst EMS, a flexible, full service provider of electronic manufacturing services.
70 Pleasant St. is made up of 3.295 acres with a 35,238 s/f warehouse and office building housing Sunburst EMS’ corporate office.
“The Pleasant St. building was a major attraction to the buyer, Rhino Capital Advisors LLC, as they are actively expanding their real estate portfolio throughout New England”, said Ben Stout, managing partner of Atlantic Properties.
264 West Dr., consists of a 0.93 acre lot and a 7,114 s/f warehouse and office building, where Sunburst EMS’ has its Cable Division located.
In an effort to secure the West Bridgewater property, while also recognizing the value of the fully leased Melbourne property, Rhino Capital Advisors LLC purchased the portfolio, and simultaneously sold the Melbourne property for $615,000 to Space Coast Assets LLC.
Stout and Bobby Phinney were the brokers in the transaction. Phinney procured the seller, while Stout procured the buyer.
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