News: Front Section
Posted: December 4, 2020
Bongiorni of SR Commercial Realty brokers $1.155 million sale of historic mill building
Wilbraham, MA Paul Bongiorni of SR Commercial Realty was the sole agent in the sale of a mill-style industrial property at 176 Cottage Ave.
The property was formerly the Collins Manufacturing Company, which once produced paper for writing and currency. More recently, it was home to a plastics manufacturing company and other small businesses.
Located on nine acres abutting the Chicopee River, the building features a solar array and several outbuildings. The adjacent hydroelectric dam that once provided power to the building was sold in a separate transaction earlier this year.
The buyer is a local investor and plans to rehabilitate the property for potential storage and industrial uses.
The building was built circa 1876 and has 199,533 s/f of usable area, according to public record. The sale price was $1.155 million.
MORE FROM Front Section
Quick Hits
STAY CONNECTED
SIGN-UP FOR NEREJ EMAILS
Columns and Thought Leadership
Ask the Electrician: How do I prepare my commercial building for a disaster?
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 Journal presents
the First Annual Project of the Year Award! Vote today!
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!
Investing in a falling rate environment - by Harrison Klein
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 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins
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