News: Front Section
Posted: June 26, 2020
Stepien and Gatti of Greater Boston Commercial Properties, Inc. broker $3.45m sale of 37,248 s/f building
Marlborough, MA Mitch Stepien and Ben Gatti of Greater Boston Commercial Properties, Inc. (GBCP) have sold the 37,248 s/f office building at 221 Boston Post Rd. East to a local private investor for $3.45 million.
GBCP was the sole broker in this transaction. The seller purchased the building in 1988 for his business to occupy a portion of the property, and the company is still located there today. After selling his business, he decided it was time to part ways with the asset, and soon he will be coasting into retirement on Cape Cod. The multi-tenanted office property was sold at 82% occupancy and is comprised of long term, established tenants. The buyer has retained GBCP as the exclusive listing agent, as he seeks to maximize his investment. The buyer’s plans for the building include a facelift of the interior with new granite, carpet, and paint along the common areas.
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