News: Front Section

Marcus & Millichap’s Koury Group arranges $6.2 million sale

Gloucester, MA Marcus & Millichap’s Koury Group brokered the sale of Railroad Plaza, a 37,340 s/f Shaw’s anchored shopping center, according to Thomas Shihadeh, regional manager of the firm’s Boston office. The asset sold for $6.2 million.

James Koury and Alex Quinn of the Koury Group exclusively marketed the property on behalf of the seller and identified the buyer.

Senior managing director Koury said, “The center is centrally located in Gloucester and strategically adjacent to the town’s commuter rail station and a short walking distance from the center of town. The Shaw’s master leases 33,515 s/f of the center of which it sublets 4,890 s/f to a local liquor store. Railroad Plaza is one of two Shaw’s anchored Gloucester Shopping Centers that has been owned by the Psalidas family for over 50 years.”

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,
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul

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

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

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

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: