News: Front Section
Posted: August 16, 2019
Cyrier and Saulnier of MANSARD broker $3 million sale to AZAD Legacy Partners
Billerica, MA MANSARD has facilitated the sale of 95 Billerica Ave. for $3 million to AZAD Legacy Partners.
MANSARD sold the property on behalf of Taurus Investment Holdings. Taurus acquired the property in 2008 through their opportunity program where they invested in distressed and opportunistic real estate assets.
95 Billerica Ave. is a 74,301 s/f flex/office building that is situated on 13.12 acres. The building is currently 50% leased to Aved Electronics, through 2026.
MANSARD produced 5 offers on the property through a 15-month marketing campaign, resulting in a closing price of $40 per s/f. Open to a wide variety of uses, 95 Billerica Ave. can accommodate office, flex, light assembly and lab users. The property is well located with access to I-495 at Exit 37 and Rte. 3 as well as within 1/2 mile of MBTA Commuter Rail stop. The site is well proportioned with 263 parking spots and entry access off Billerica Ave. Additional features include a two-story atrium, two tailboard loading doors with dock levelers, and a landscaped site.
Jeremy Cyrier, CCIM and Taylor Saulnier of MANSARD arranged the sale.
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,
Columns and Thought Leadership
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.
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:
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.