News: Front Section
Posted: April 14, 2017
Burgess and Nohrden of Burgess Properties Inc. handles $7.05 million in two sales
Malden, MA Burgess Properties Inc. has brokered the sale of two industrial properties totaling $7.05 million.
In the first transactions, 197 Commercial St., a 33,000 s/f industrial building on 2.1 acres, sold for $4 million to NY-based developer North River LLC. The property has been the long-time home of Trombetta Corp. (formerly Tympanium Corp.), a leading producer of Mobile DC power equipment. North River did a sale/leaseback of the manufacturing/R&D facility to Trombetta through the end of July. 197 Commercial St. is now being marketed for lease by Burgess Properties. It’s location,within walking distance of two Orange Line T stops and its parking lot of 85 spaces makes it a rare inner-suburban offering.
In the second transaction, 277 Commercial St., a 16,450 s/f office/industrial building on 1.15 acres, sold for $3.05 million to South Cove Community Health Center, a leading provider of Asian community health services in the state. The property had been the headquarters of the Malden Evening News and Medford Daily Mercury newspapers since its construction in the 1980s and it will be converted into a medical center by South Cove.
Phillip Burgess and Steve Nohrden of Burgess Properties were the sole brokers in these transactions.
Founded in 1997, Burgess Properties is one of Greater Boston’s premier suburban full-service commercial brokerage firms specializing in the sale and leasing of office, industrial and other commercial properties.
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