News: Front Section
Posted: May 28, 2021
Moynihan of Ellis Realty Advisors brokers sale of 21-unit mixed-use property
Scituate, MA Ellis Realty Advisors completed sale of Bound Brook Court.
Bound Brook Court is a 21-unit mixed-use property with over 30 parking spaces located directly across from the North Scituate MBTA station.
Located just 30 miles from downtown Boston, the fully leased property had been under the current ownership for almost 40 years. The property offers the new owner tremendous upside along with strong re-development potential given its location in the new Business Overlay district.
Colin Moynihan, senior partner at Ellis Realty advisors handled this transaction and said, “Transit oriented locations are in high demand, especially in affluent communities such as North Scituate…we had a competitive bidding process and we will continue to see strong demand in 2021 for these sorts of assets as the South Shore has a strong need for more multifamily housing, especially in these particular locations.”
The area boasts strong demographics with an average median income exceeding $153,192. The town has excellent public school systems, beautiful beaches, and is only a short train ride into downtown Boston.
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