O'Brien Commercial Properties completes two sales totaling $2.8m
O'Brien Commercial Properties recently comeplted three transactions:
* MIG Corp., Inc. has purchased 9 Otis St., Westborough for $1.95 million. The parcel consists of a 36,000 s/f industrial building on 49 acres of land. Joel Aho and David Curley of O'Brien Comm'l. represented the seller and directly procured the buyer for the property.
* Paul Mulroy, senior associate at O'Brien Comm'l., recently completed the leasing efforts at 275 Billerica Rd. in Chelmsford. The tenant, Pro AV Systems has leased 12,740 s/f of office and warehouse space. Mulroy represented the landlord, Shaimus LLC, and directly procured the tenant. The 55,000 s/f building is now home to two local businesses and a church.
* O'Brien Comm'l. negotiates the sale of 77 Powder Mill Rd. in Acton for $850,000. The seller, Concord Land Company LLC was represented by Eric O'Brien, president at O'Brien Commercial, while the buyer, ACD Lee Investments LLC, was represented by Mulroy. The multi-tenant property which skirts the Assabet River was in excellent condition, sold 80% leased. O'Brien is in negotiations with a tenant and buyer to take over the remainder of the building at this time.
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary