News: Front Section
Posted: November 3, 2017
Burgess Properties handles sale of two Chelsea properties totaling $7.025 million
Properties Inc.
Chelsea, MA Burgess Properties Inc. handled the sale of both 180 Everett Ave. and 115 Carter St. to North River Company LLC, an affiliated entity of Waterfront New York.
180 Everett Ave. is a 7,500 s/f, two-story retail and office building which recently housed the Fusion Cafe restaurant. The sale price was $1.2 million.
115 Carter St. is a 33,000 s/f, single-story warehouse/manufacturing building. The building was the 65 year long-term home of Driscoll Warehouse which offered the property for sale in conjunction with a wind-down of their business operations. The sale price was $5.825 million.
North River Co. is the owner of 190 Everett Ave. which sits between these two newly acquired properties. 190 Everett Ave. is the Boston-area home of Ardsley, NY-based Acorda Therapeutics Biotechnology Company.
The acquisition of these two additional properties ensures control of the entire city block surrounding Acorda and can provide for any future expansion.
Phil Burgess, president of Burgess Properties was the sole broker in the 115 Carter St. transaction and he represented the buyer in the 180 Everett Ave. sale.
Celebrating its 20th anniversary this year, 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.
Tags:
Front Section
MORE FROM Front Section
Front Section
McEvoy of The Conrad Group brokers $2.9 million sale of industrial building
Hingham, MA The Conrad Group has brokered the sale of 55 Research Rd., South Shore Park. The property consists of a 20,340 s/f single story manufacturing building on two acres of land.
Columns and Thought Leadership
The doctor is in: How medical leases differ from retail and office spaces - by Brian Cafferty
As healthcare facilities, often referred to as “Doc in a Box” clinics, increasingly move into traditional retail spaces, landlords are more frequently leasing to medical tenants. Unlike standard retail or office leases, medical facilities come with a unique set of considerations that must be carefully addressed to ensure a successful tenancy.
5 Questions to ask when choosing a real estate broker - by Elizabeth Perez Barlett
>They say, “April showers bring May flowers,” but this season may bring more movement in the housing market as springtime is one of the most popular times for home buying and selling. Although spring is one of the strongest seasons for the residential market, it may not be all rosebuds and butterflies if you don’t have the right advisors.
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
It’s time to get creative with closed college campuses - by Christian Koulichkov
Facing higher costs, shrinking enrollments, reduced state funding and severe demographic headwinds, many colleges and universities in New England and the Northeast are fighting for survival. The latest to lose the battle is the 150 + year old University of the Arts in
