News: Front Section
Posted: February 19, 2021
Bulman and Mearn of District Real Estate Advisors broker lease and sale of Chick-fil-A in Hanover, MA
Hanover, MA Tim Bulman and Christopher Mearn of District Real Estate Advisors navigated the ownership group through all phases of the redevelopment at 1835 Washington St. The former Burger King site was purchased by 1835 Washington Street LLC in 2016 and an additional parcel was later purchased and assembled in 2019 to form the 1.48 acre parcel that was ground leased to Chick-fil-A.
The property is ideally located at the off-ramp of Rte. 3 directly in front of the Hanover Crossing development. Bulman and Mearn subsequently sold the property in an off-market transaction in October 2020 for $4.428 million to a California buyer, satisfying part of a 1031 exchange.
Atlantic Retail represented Chick-fil-A in lease negotiations and Steve Bogoyevac of Marcus & Millichap and The Mansour Group represented the buyer in the sale transaction.
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