News: Front Section
Posted: June 18, 2008
NAI Hunneman brokers sale of 3 condominium units totaling 15,110 s/f
NAI Hunneman has brokered the sale of three condominium office units totaling 15,110 s/f at The Cooper Building, 38 Third Ave. in the Charlestown Navy Yard
The Cooper Building is a four-story, 36,410 s/f office building redeveloped into office condominiums by Boston-based real estate investment and development firm Davis Marcus Partners.
The seller, Building 38 Ventures LP, an affiliate of Davis Marcus Partners, was represented by Jeffrey Becker, senior vice president, and David Cooney, associate of NAI Hunneman Commercial.
"With office rents on the rise and vacancy rates declining, the Cooper Building has provided a unique opportunity for the owners of small and mid-size companies to control their occupancy costs and participate in the equity value of the real estate their business occupies." said Becker. "By any measure the Cooper Building has been very well-received in the market; out of the seven original units only one top floor unit remains."
The units were sold to:
*Automation Solutions 4,082 s/f. The buyer was represented by Jones Lang LaSalle.
*Trevi Icos Corporation 6,940 s/f. The buyer was represented by Mark Carangelo, principal of Equitable Real Estate Solutions.
*Richard Iandoli Law Offices 4,088 s/f. The buyer was represented by Cresa Partners.
Built in 1854, The Cooper Building is listed on the National Register of Historic Places.
The building's interior finishes include notable floor-to-ceiling height, granite and brick lobby and large perimeter windows. The Cooper Building is zoned in a Historic Monument Area.
NAI Hunneman Commercial:
Founded in 1929 and headquartered in Boston, NAI Hunneman Commercial is a leading provider of commercial real estate services to corporations, institutions and the private market. Through its association with NAI, NAI Hunneman Commercial is a local firm with global reach offering brokerage and project management services in more than 340 markets across the nation and around the world. For more information, please visit www.naihunneman.com
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