News: Front Section
Posted: June 24, 2022
Hughes of New Dover Associates handles $6.1m sale to Stonegate Group
Westborough, MA Scott Hughes, president of New Dover Associates, Inc., represented the seller, 134 Flanders Road LLC, and procured the buyer, Stonegate 134 Flanders Road 2022 LLC, an affiliated entity of Stonegate Group of Natick, Mass., in the sale of 134 Flanders Rd., for the purchase price of $6.1 million.
134 Flanders Rd. is a three-story multi-tenanted and fully air-conditioned office building comprised of 57,421 s/f with parking, a passenger elevator, a furnished common conference room, showers and a tailboard loading dock with overhead door.
The 5.84-acre property is well-situated between the city of Worcester and city of Boston, with access to I-495 and I-90, as well as Rtes. 9 and 30. 134 Flanders Rd. is near many national and local businesses including medical practices, corporate offices, financial services, and laboratories.
134 Flanders Rd.’s tenants include a range of stable companies, from medical devices to software, insurance, and security services. The office building was constructed in 1988 with common area renovations completed in 2017 and features a brick exterior and two-story glass atrium.
Financing for the purchase was provided to Stonegate by Avidia Bank.
“We are extremely pleased to announce the purchase of this prominent property. 134 Flanders Rd. is yet another addition to the growing list of commercial properties in the Greater-Boston and MetroWest markets added to our portfolio over the past eighteen months” said Sean McGrath, CEO at Stonegate Group.
Tags:
Front Section
MORE FROM Front Section
Front Section
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
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.
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.
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.