O'Brien of O'Brien Comm'l. Propertiesreps Lexvest Partners in $2 million sale
Eric O'Brien of O'Brien Commercial Properties represented the buyer 63 Great Rd. Partners (Lexvest Partners, LLC) in the sale of the 30,000 s/f Mill Pond Building at 63 Great Rd. The building was purchased 65% leased to five cos. The property, sold by Maynard Partners, LLC, consists of bio-medical, office and lab space.
Lexvest intends to renovate the common areas and available suites and market the remainder of the building as business condominiums for sale or lease. The sale price for this property at the fork of Routes 62 and 117 was $2 million.
Dylan Connelly of O'Brien Comm'l. Properties has been appointed to market the property for Lexvest.
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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.
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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.
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.