News: Front Section
Posted: October 20, 2017
Burgess Properties Inc. sells two buildings to The Seyon Group for $11.225 million
Chelsea, MA Burgess Properties Inc. completed the sale of 150 Eastern Ave. and 201 Crescent Ave. to The Seyon Group for a combined $11.225 million.
150 Eastern Ave. is a 60,000 s/f, two-story warehouse and office building. Given its close proximity to Logan Airport, 150 Eastern has historically been tenanted primarily by air-freight companies, but recent years have seen a diversification in its tenant mix. The seller was O’Brien Family II LLC, owners of the abutting 140 Eastern Ave. The sale price was $7.475 million.
201 Crescent Ave. is a 33,000 s/f, single-story warehouse/manufacturing building built 14 years ago. The sellers, principals of the owner/occupant, New England Lighting Company, offered the property for sale in conjunction with a wind-down of their business operations. The entire property is now available for lease. The sale price was $3.75 million.
Phil Burgess and Steve Nohrden of Burgess Properties were the sole brokers in these transactions.
Burgess Properties has been retained as the leasing agent for both properties.
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.
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