News: Front Section
Posted: November 24, 2017
Christie and McGee of NAI Hunneman handle $8.05m sale
Belmont, MA NAI Hunneman brokered the $8.05 million sale of 61-63 Moraine St., a 24-unit apartment community.
Executive vice president Carl Christie and assistant vice president Dan McGee represented the seller CMS Moraine, LLC and procured the buyer.
“We are pleased that our marketing efforts produced such a tremendous response from the investor community,” said Christie. “We completed 59 tours and received 21 offers on our bid date. There are very few apartment buildings in Belmont, and this rare opportunity was heavily pursued by the market.”
Constructed in 1970, 61-63 Moraine St. is a brick, garden-style apartment complex consisting of 24 units with an even mix of one and two-bedrooms. The property also included off-street parking for 40 vehicles. The buildings are located in Waverley Sq. within walking distance to area amenities including a supermarket, banks, drug store, coffee shops, restaurants, parks, and public transportation providing access to downtown Boston.
Headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market. NAI Hunneman is a member of NAI Global, the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide. NAI Global manages a network of 7,000 professionals and 400 offices throughout the world. NAI professionals work together with its global management team to help clients strategically optimize their real estate assets.
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
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.
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.
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
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.