News: Front Section
Posted: July 8, 2022
Casey of SR Commercial Reatly brokers sale of
109 Apremont Way, Westfield, MA for $2.6 million
Westfield, MA Jeremy Casey of SR Commercial Realty brokered the sale of the former precision manufacturing property at 109 Apremont Way off of Rtes. 10 and 202.
The site, originally consisting of 90,567 s/f between three buildings on 12 acres, was owned by longtime precision manufacturer Berkshire Industries, Inc. DMA Associates, LLC acquired the property for $1.75 million via auction in February of 2018. Casey and the SR Commercial team worked with DMA Associates to broker the sale of the property in May of 2020 for $3.7 million to Triple Seven, LLC for the future expansion of precision manufacturer; J&E Precision, Inc. of neighboring Southampton, as it’s anchor in 24,000 s/f of the RBA.
Triple Seven engaged Casey and the SR team once again to strategize the best approach for sub-dividing the property, and leasing the remaining space consisting of 66,566 s/f. Over the next year, Casey worked alongside ownership to subdivide the property into three separate parcels, one for each of the existing buildings. Casey also leased out over 54,000 s/f between the two remaining buildings.
Casey and the SR team brokered the sale of “Lot 2-1” the new subdivided parcel consisting of the 60,156 s/f front building on 3.6 acres to Olmstead Realty Trust. The sale price was $2.6 million.
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