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News: Front Section
Posted: September 30, 2022
Bongiorni of SR Commercial Realty brokers sale of retail portfolio in downtown Springfield
Springfield, MA Paul Bongiorni of SR Commercial Realty represented the seller of a retail portfolio at 885-887 Sumner Ave. and 9-15 Dorset St. The sale consisted of three buildings: A single-tenant building on Sumner Ave., a multi-tenant plaza on Dorset St., and a small warehouse. The buildings are fully leased to four small businesses and total 4,888 s/f of rentable space. The sale price was $310,000.
The properties are adjacent to a proposed conversion of the abandoned Highland Division Railroad to a public walking and biking trail. The trail would run parallel to Dorset St., crossing through the city’s East Forest Park neighborhood to Springfield College’s campus, and eventually interconnect to a separate trail project in the Mc-
Knight neighborhood. A feasibility study has been completed, and the project is now in the funding and design stages.
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Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
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Columns and Thought Leadership
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
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:
Four tips for a smooth 1031 Exchange - by Bill Lopriore
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.
Make PR pop by highlighting unique angles - by Stanley Hurwitz
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.
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
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.
