News: Front Section
Posted: August 30, 2024
Klein of Marcus & Millichap arranges $2.85 million sale of 52,000 s/f industrial space
Holliston, MA Marcus & Millichap completed the sale of a 52,000 s/f vacant industrial building. The property sold for $2.85 million.
“The buyer intends to renovate this unique building to lease space to smaller tenants. In fact, nearly every interested investor had a vision of creating small-bay/contractor bays at this location,” said Harrison Klein, first vice president investments in Marcus & Millichap’s Boston office. “Demand for smaller tenant spaces remains extremely high, and developers are turning to the conversion of existing buildings to meet this need.” Klein had the exclusive listing to market the property on behalf of the seller, a private investor, and procured the buyer, 561 Main Street Best, LLC.
The industrial property at 91 Kuniholm Dr. offers 52,000 s/f of space, featuring loading docks and a 16-foot clear height. The vacant building will undergo major renovations by the buyer. Its proximity to Wellesley, Needham, and nearby suburbs makes it a prime location for recreational uses like gymnastics, private gyms, or athletic training facilities. Evan Koogler of Kelleher & Sadowsky handled leasing for the seller and assisted in the sale.
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: