News: Front Section
Posted: March 3, 2017
Carr of Marcus & Millichap brokers two sales totaling $3.135m
Tim Thompson, Marcus & Millichap
Kendin Carr, Marcus & Millichap
Allston, MA Marcus & Millichap completed the sale of a portfolio of four investment condominiums located at 139-143 Brighton Ave., and the sale of 27 Quincy St. - Unit 2, an investment condominium located in Somerville, according to Tim Thompson, regional manager of the firm’s Boston office. The assets sold for $2.6 million and $535,000, respectively.
139-143 Brighton Avenue - Allston, MAKendin Carr, an investment specialist in Marcus & Millichap’s Boston office, had the exclusive listing to market the package of four condominiums at 139-143 Brighton Ave. on behalf of the sellers, Bliss Realty Trust and Trademark Realty Trust. Carr also had the exclusive listing to market 27 Quincy St. – Unit 2, on behalf of the seller, Pulverizer Realty Trust.
“Ideally located close to Boston University’s West Campus and the Mass Pike, 139 – 143 Brighton Ave. is right at the heart of Allston’s commercial district,” said Carr. “The property is a short walk to the many restaurants in Allston’s eclectic ethnic food scene. Boston University’s ever increasing enrollment, as well as easy access to the MBTA Green Line and downtown, has been driving rent growth and demand in Allston for many years and no slowdown seems to be imminent.”
27 Quincy St. - Unit 2, Somerville, MA“27 Quincy St. is located in the heart of the burgeoning Union Sq. neighborhood of Somerville,” said Carr. “Recent growth in the area can be attributed to the development of the highly anticipated MBTA Green Line Extension project, proximity to the upscale shopping experience at Assembly Row, as well as the addition of 850,000 s/f Partners Healthcare Complex to the Somerville community. The hot investment sales market in the area has been bolstered by a strong rental market with stable rents and low vacancy rates.”
With over 1,600 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 8,700 transactions in 2015 with a value of $37.8 billion.
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