News: Front Section
Posted: August 7, 2020
Rader Properties, Inc. completes two sales totaling $19.35 million - on behalf of the seller, 56 Realty Trust/Congruity 360
Fall River, MA On behalf of Congruity 360, Rader Properties, Inc. completed two sale transactions totaling $19.35 million.
Rader Properties, completed the sale of 456 Bedford St. The 199,902 s/f Tier III/IV data center was sold on a fully-leased basis in a sale/leaseback to Rhino Capital, LLC. Rader Properties worked with the Seller, 56 Realty Trust/Congruity 360 to negotiate a long-term lease and to procure the buyer.
David Mitchell of Rader Properties said, “This was a great opportunity for both parties to fulfill their long-term objectives. Through our existing relationships, we were able to procure the right buyer for this transaction.” The sale price for 456 Bedford St. was $15.45 million.
Rader Properties also represented Congruity 360 with its corporate headquarters office relocation and the purchase of 93 Longwater Dr. in Norwell, Mass. Rader Properties conducted an extensive search, including lease options, and procured the 93 Longwater Dr. property which was not being marketed at the time for sale. 93 Longwater Dr. is a 20,079 s/f, two-story, first-class office building located in the established Assinippi Business Park off Rte. 3. The property offers Congruity 360 a true corporate headquarters identity as they occupy the entire second floor. The first floor was leased at the time of sale. The seller was Jumbo Capital Management and the sale price was $3.9 million.
Mitchell and Jim Rader of Rader Properties represented Congruity 360 in both transactions.
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