Franklin County opens temporary courthouse at 101 Munson Street, Greenfield
After nine months of construction, the temporary Franklin County Courthouse opened on February 17. This project required a wholesale conversion of the existing office space into specialized courthouse operations. Development Associates of Agawam, leased the 57,000 s/f space located at 101 Munson St. to the Commonwealth of Massachusetts. The lease is for a 5 year term while the $60 million renovation of the Main St. courthouse is underway.
The property is owned by Greenfield Corporate Center LLC, who purchased it from Phoenix Home Life in 2001. Development Associates, a local company who has been developing commercial and industrial property throughout the Pioneer Valley for over 50 years, was responsible for the multi-million dollar construction project.
The new courthouse facility is home to the Superior, District and Probate Courts. It also houses the Registry of Probate, District Attorney's office and Law Library. The new facility includes many improvements over the existing downtown courthouse for public safety including security, closed circuit video cameras and card-controlled access doors.
101 Munson St., the former Phoenix office building, is located just off of I-91. It was built in the 1970's and has since been modernized to fit the needs of various tenants. The building is home to businesses including the Department of Transitional Assistance, Department of Children and Families, Veteran's Administration, Crocker Communications and others.
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,
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.
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.
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.
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: