News: Retail
Posted: October 23, 2015
Savills Studley represents seller in sale of 126,480 s/f building
615 Arsenal Street - Watertown, MAWatertown, MA Savills Studley National Retail Services Group represented the seller of a single-tenant NNN asset, occupied by Home Depot. Kyle Miller and Bill Bauman, who are based out of Savills Studley’s Los Angeles office, represented the seller.
The 126,480 s/f building located at 615 Arsenal St. was sold by Eastern Real Estate, a Boston-based firm with a national investment, development and asset management portfolio, to an affiliate of Inland Real Estate Acquisitions, Inc.; the Home Depot location opened in 2001 and has 17 years remaining on its primary lease term.
“The seller elected to leverage the current market demand for trophy, infill and single-tenant NNN assets in order to unlock the capital and re-deploy it into other projects and investments,” said Miller.
The seller acquired the building in 2000 as part of the Anne & Hope department store portfolio that included more than one million s/f.
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