News: Retail
Posted: April 28, 2023
Northeast Private Client Group represents $2.2m sale of two mixed-use properties
Holliston, MA Northeast Private Client Group (NEPCG) has completed the sale of 85 Central St. mixed-use property in Holliston and 185-187 Main St. mixed-use property in Maynard, Mass.
Senior associates Drew Kirkland, Francis Saenz, and Jim Casey represented the sellers and procured the buyers for both transactions.
85 Central St. sold for $1.3 million. This 4,420 s/f auto repair building sits on a 20,473 s/f (0.47 Acres) lot zoned VC. The building has four work bays with three lifts to service passenger vehicles and light trucks. Recent updates include a new roof & additional bay for Mass. car, truck, trailer, diesel & D.O.T Inspections.
185-187 Main St. sold for $900,000. The 5,542 s/f mixed-use property includes two retail suites, a one-bedroom, and five two-bedroom apartments. Utilities are separately metered and tenant-paid. Tenants have off-street parking and coin-op laundry on-site.
“Both these properties have a great value-add component to them in desirable secondary markets. ”said Francis Saenz, senior associate
Tags:
Retail
MORE FROM Retail
Retail
McEvoy of Conrad Group facilitates $9.5m sale of Sterling Plaza
Randolph, MA Sterling Trust has sold its Sterling Plaza neighborhood retail site located at 45 Mazzeo Dr. to The Shops at Randolph, LLC. The property is home to several restaurants, including the West End Grill, The Well, Outback Steakhouse and It’s Game Time Sportsbar.
Quick Hits
Columns and Thought Leadership
Reimagining retail for the downtown - by Carol Todreas
Before COVID-19, downtown retail had been sliding downwards. A few restaurants and stores were hanging on, but the trajectory was headed south. Now with post- COVID-19 lifestyle changes, old-style retail anywhere has lost its market appeal.
Placemaking and retail in 2024 - by Carol Todreas
Placemaking. That is the word for 2024. While the concept has historical precedence in urban development, it became part of our current culture in the 1960’s when urbanists started to think about cities for people, not just cars.
Village centers and local retail: What the market wants - by Carol Todreas
Good news! Brick and mortar is alive and well. Many malls are coming back. Americans are flocking to Europe to walk, shop, eat, and enjoy much needed vacations. Visitors return and talk about the pleasures of walking and shopping in local shops in cities and towns all over Europe.
Keeping the “there” there - by Carol Todreas
New zoning is a big topic for many communities. Whether it is to comply with the 2021 MBTA legislation calling for more multi-family housing in locales with access to T stations or to address other pressures from public-private entities, zoning for multi-family housing is believed to be a major part of the solution to the housing crisis.