News: Front Section
Posted: January 2, 2008
Herlihy, Lashar, Bradbury and Leone of RBJ complete $20.3m sale
Richards Barry Joyce & Partners, LLC (RBJ),has brokered the $20.3 million sale of Franklin Commerce Center, at 20 Freedom Way on behalf of Suffolk Freedom Way, LLC. The building was purchased by Realty Associated Advisors, LLC.
Built in 2003, Franklin Commerce Center is a 223,450 s/f industrial/distribution building, located within the Franklin Industrial Park. The facility features 32 loading docks, 36' clear heights, and is occupied by credit tenants such as Owens & Minor, Inc., Lindenmeyr Munroe, and Dealer Tire, LLC. Located less than half of a mile from I-495, the building is one of the most well located and well designed high-bay distribution facilities in the region.
"Given the building's strong credit tenants, location and amenities, we witnessed a very high level of institutional investor interest in this sale," said Richard Bradbury, vice president, Richards Barry Joyce & Partners. "Investor interest in industrial product on I-495 South has been consistently strong throughout 2007 and looks to remain that way heading into 2008."
Richard Herlihy, John Lashar, Richard Bradbury and Paul Leone of RBJ represented the seller and procured the buyer. Realty Associated Advisors has named RBJ the exclusive leasing agent for Franklin Commerce Center.
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:
