News: Front Section
Posted: February 20, 2008
Cronin of Colliers Meredith & Grew handles Peterson American's $4m sale
Colliers Meredith & Grew completed a sale/leaseback transaction for the Peterson Spring Regional Manufacturing Facility located at 40 Bearfoot Rd. to Campanelli Companies.
Colliers Meredith & Grew senior vice president Robert Cronin represented the seller Peterson American Corp., working with principal of acquisitions Stephen Murphy of Campanelli Cos., the buyer. The property sold for $4 million and the seller entered into a leaseback of the entire facility with the buyer.
Built in 1980, 40 Bearfoot Rd. is a single-story, 62,500 s/f industrial building.
"This is a "win-win" transaction whereby Peterson American gets to recapture the equity it has in the property via a sale/leaseback transaction and Campanelli receives immediate cash-flow with a potential future "value-added" redevelopment opportunity on a site that offers major visibility and identity on a major highway in Metro West," said Cronin.
Tags:
Front Section
MORE FROM Front Section
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,
.png)
Columns and Thought Leadership
Make PR pop by highlighting unique angles - by Stanley Hurwitz
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
Four tips for a smooth 1031 Exchange - by Bill Lopriore
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.