News: Front Section
Posted: January 29, 2021
Boston Realty Advisors engaged by Boston Harley-Davidson for a sale leaseback of a 114,000 s/f mixed-use portfolio
Revere, MA Boston Realty Advisors (BRA) was exclusively retained by Boston Harley-Davidson to market an offering of three commercial buildings, located side-by-side on the border of Revere and Malden.
The properties, situated at 649-655 Squire Rd. and One Wesley St., have access to U.S. Rte. 1 and MA Rte. 60, as well as are surrounded by a formidable mix of retail and hospitality options. The combined mixed-use site–being marketed as The Squire Portfolio–sits on 7.5 acres with a total of 114,000 s/f.
The Squire Portfolio is anchored and owned by Boston Harley-Davidson, part of the largest full-service Harley-Davidson dealership in New England, and home to an onsite Riding Academy. Boston Harley-Davidson intends to continue operations from their current site, subject to an absolute triple net lease structure with the sale leaseback.
Al Contois, co-owner and president of Boston Harley-Davidson said, “I look forward to working with BRA on the next chapter in Boston H-D history. This strategic vision and resulting sale leaseback will further strengthen our balance sheet, providing us with greater flexibility to serve our loyal customers and the Greater Boston community.”
The Squire Portfolio is 100% occupied. In addition to Boston H-D, there are four other tenants with long-term leases in place. “The Squire Portfolio idyllically packages this investment with a supreme location, strong tenancy, and a wide range of redevelopment options,” said Jason Weissman, founder and CEO of BRA.
He continued, “Add in Boston Harley-Davidson as a tenant with stellar credit and this opportunity is a homerun.”
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