News: Front Section
Posted: April 26, 2019
Dickason and Jamieson of Avison Young handle $8 million sale of a 119,000 s/f industrial warehouse
Danvers, MA Avison Young has negotiated the sale of a 119,000 s/f industrial warehouse at 125 Water St.
Brandon Dickason, vice president and principal Scott Jamieson, both based in the Boston office, represented the seller, 125 Water Street LLC, which sold the building for $8 million ($71 per s/f) to Arris Partners.
Two years after the debut of Arris Partners by founders John Garofalo and Tom Sibley, the company has added 125 Water St. to its growing portfolio.
“The 125 Water St. site is a well-located industrial warehouse, 100% leased to two quality tenants,” said Dickason. “Both tenants are committed to the building and location, making this an ideal opportunity for Arris. Both the buyer and seller made this a seamless transaction from beginning to end, and we could not be more pleased with the outcome.”
“We are thrilled to acquire this asset in Danvers,” said Garofalo. “This strategic, high-bay warehouse boasts loyal tenants that have grown within the building.”
The class B industrial warehouse building is well-maintained and offers access via I-95, Rte. 128 and Rte. 1. Long-term tenants include McCue Corp. and Harvey Industries.
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
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.
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.
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.
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: