Ligotti, McGranaghan and Redeker of Boston City Group, Inc. handle sale of 41-47 High St. and 6-16 Chute St. for $1.6 million

Reading, MA 41-47 High St. and 6-16 Chute St., a mixed-use building and parking lot located across from Reading MBTA Station, was sold on December 15^th for $1.6 million. 

Boston City Group, Inc.’s Caroline Ligotti, Emily McGranaghan and Linda Redeker represented the seller and procured the buyer. 

The property is comprised of a brick-exterior 8,539 s/f retail strip center with additional lower level of fully built-out office space, large parking lot, on combined parcels comprising a total of 18,000 s/f. The building is home to long-time tenants including Green Tomato’s Restaurant, Last Corner Restaurant in addition to a laundromat, drycleaner, and beauty salon.

In recent years, several new construction projects have surfaced near the site. Such projects include 30 Haven, a 58-unit apartment and retail complex; The Met at Reading Station, a 68-unit, and 55-unit apartment community; and Ace Flats a 55-unit project currently under construction on Gould St. Located within a short drive to I-95 and I-93, the site is also near 1.2 million s/f of retail space.

 including 128 Marketplace anchored by Market Basket, and over 700,000 s/f of office and industrial space.