News: Front Section
Posted: January 12, 2024
Galvani and Cuneo of SVN | Parsons Commercial Group | Boston handle $5.1 million sale of a 43,000 s/f flex building
Southborough, MA SVN | Parsons Commercial Group | Boston has completed the sale of a 43,000 s/f flex building at 337 Turnpike Rd. for $5.1 million.
Vice president | investment sales, Victor Galvani and associate advisor, Matt Cuneo of SVN | Parsons Commercial Group represented both the buyer, Walker Development and the seller, Trask Development in the transaction.
337 Turnpike has value-add upside through lease up. Currently there is 24,185 s/f of vacancy; 15,915 s/f of low bay industrial space and 8,270 s/f of office space. These spaces can be subdivided into smaller spaces diversifying the tenant base.
“It was a pleasure working with Trask and Walker Development on this transaction. Everyone involved worked together and the result was a seamless ownership transition. We’d like to congratulate both parties and thank everyone for their collective efforts” said Galvani.
Walker Development intends to utilize a portion of the building as its new corporate headquarters. The remainder of the building is either leased or available for lease. SVN | Parsons Commercial Group will stay on as the leasing agent.
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