News: Front Section
Posted: October 1, 2021
Boston Common, LLC finalizes purchase of Emerson Place for $5.75 million
Bedford, MA Boston Common, LLC has completed the acquisition of Emerson Place located at 41-55 North Rd. According to public record the property was sold for $5.75 million.
Emerson Place is a two-story, 40,000 s/f medical and office property located in close proximity to Rte. 128 and Rte. 3. The property sits on 2.3 acres, was constructed in 1975 and has enjoyed complete modernization over the past several years.
Boston Common, LLC closed on the purchase of the property on September 7th, with the sale coordinated by MANSARD Commercial Real Estate. The MANSARD team, which was lead by Jeremy Cyrier, CCIM, assisted the seller, Oxford Entities.
The property will continue to be professionally managed by Eastport Real Estate Services, of Wakefield, Mass.
Emerson Building is currently home to some of the finest medical and dental practices in the area including Emerson Hospital, Chestnut Dental, Bedford Pediatric, Bedford Orthodontics, Bedford Behavioral Health, Bedford Periodontal, Dr. Ayleen Gregorian, Podiatrist, Bedford Dental Arts, Dr. Jennifer Cecchetti, Psy.D, and Dr. Dianne Bridgeman, DDS – among others.
Boston Common, LLC plans to bring about improvements in the building’s landscape and re-paving of the parking lot in order to better serve the resident professional practices and the patients alike.
“Boston Common, LLC was searching for a stabilized, multi-tenant medical office investment within the Greater Boston’s high-performing 128 corridor. We coordinated conversations between Oxford Entities and Boston Common, LLC to structure a mutually advantageous transaction that allowed Oxford Entities to sell for the right price to the right buyer with confidence. We also appreciated the close cooperation of Debbie Marazzo and her team at Eastport in managing due diligence and estoppel execution to make this a smooth transaction. We look forward to working together again,” said Cyrier.
Tags:
Front Section
MORE FROM Front Section
Front Section
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
Quick Hits
.png)
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:
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.
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.
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.
