 (2).jpg)
News: Front Section
Posted: September 8, 2023
Drinkwater and Richard of Marcus & Millichap handle $9.92 million sale
Mattapoisett, MA Marcus & Millichap finalized the sale of a 147,444 s/f industrial property. The asset sold for $9.92 million to a private investor.
“This was a unique opportunity to acquire a vacant warehouse with direct interstate access in southeastern Massachusetts,” said Laurie Ann Drinkwater, senior vice president investments. “The size and location were key to the buyers repositioning plan. Coordinating this sale took a good deal of collaboration and teamwork and it paid off for both buyer and seller.”
Drinkwater and Seth Richard, investment specialists in Marcus & Millichap’s Boston and Manhattan offices, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
The property is located at 5 Industrial Dr. and a quarter mile from I-195 providing access to nearby metros including, Providence, Cape Cod and Boston.
Built in 1985, the building is on 10.67 acres, a portion of which was sold separately at the time of closing. The site benefits from the parking along the front of the building with nine loading docks on the side and rear of the building with the ability to add up to six additional docks.
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,
Quick Hits
.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.
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:
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.
