News: Front Section
Posted: August 23, 2024
Griffith Pepdjonovic Group of Marcus &
Millichap brokers $15.25 million sale of 44 units
Newton, MA Griffith Pepdjonovic Group of Marcus & Millichap has completed the sale of Curtis Arms Apartments, a 44-unit multifamily property for $15.25 million.
“We were thrilled to deliver this rare apartment complex to our client, as it presents a tremendous value-add opportunity in one of the most desirable cities in the country. The selling family built Curtis Arms in 1969, so this marks the first time the asset has ever been sold,” said Tony Pepdjonovic, senior vice president investments.
“Newton is an incredibly low-velocity sales market, with this being the only apartment complex that has traded in 2024. The last sale dates back to August 2023, when our team handled 175 Adams St., a 31-unit property,” said Evan Griffith, senior vice president investments.
128-134 North St. sits on 1.8 acres and is improved by four 11-unit brick buildings. The complex is comprised entirely of two-bedroom floor plans and features ample off-street parking, as well as storage lockers and coin-operated laundry machines for the tenants.
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McEvoy of The Conrad Group brokers $2.9 million sale of industrial building
Hingham, MA The Conrad Group has brokered the sale of 55 Research Rd., South Shore Park. The property consists of a 20,340 s/f single story manufacturing building on two acres of land.
Quick Hits
Columns and Thought Leadership
The doctor is in: How medical leases differ from retail and office spaces - by Brian Cafferty
As healthcare facilities, often referred to as “Doc in a Box” clinics, increasingly move into traditional retail spaces, landlords are more frequently leasing to medical tenants. Unlike standard retail or office leases, medical facilities come with a unique set of considerations that must be carefully addressed to ensure a successful tenancy.
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,
5 Questions to ask when choosing a real estate broker - by Elizabeth Perez Barlett
>They say, “April showers bring May flowers,” but this season may bring more movement in the housing market as springtime is one of the most popular times for home buying and selling. Although spring is one of the strongest seasons for the residential market, it may not be all rosebuds and butterflies if you don’t have the right advisors.
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.