News: Front Section
Posted: October 28, 2022
Cyrier of MANSARD brokers $3.1 million sale of 585 Middlesex St. in Lowell, MA
Lowell, MA MANSARD completed the sale of 585 Middlesex St. from Nokode, LLC to Catapult & Cannon, LLC. The property sold for $3.1 million. The sale demonstrates the value that LEED Gold properties possess in today’s market as well as confidence in the city’s ongoing revitalization around its new courthouse. The building is leased by the NOBIS Group, which is an integrated consulting firm that provides engineering and environmental solutions for public and private projects of all sizes.
585 Middlesex St. is an 18,733 s/f, 100% net-leased, LEED Gold office building located in the center of the city. Originally the Davis and Sargent historic mill constructed from bedrock quarried from the abutting canal, the property was subsequently renovated as a LEED Gold recipient. The property incorporates sustainable elements including solar panels, high-efficiency heating, plumbing, and electrical systems, pervious pavement, and the use of non-VOC emissions construction materials.
Jeremy Cyrier, CCIM, president and commercial real estate advisor at MANSARD said, “After a continuous marketing process that generated six offers, we’re excited to see this wonderful asset awarded to Catapult & Cannon, LLC.”
According to the seller, Pete Delano, “Jeremy Cyrier and the MANSARD team are professional, responsive, and they know the Massachusetts and New England commercial marketplace extremely well. They developed a great approach to market our property, they brought forward many buyers, multiple offers, and because of Mansard our commercial property was successfully sold. If you’re considering selling, definitely talk with MANSARD!”
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.