News: Front Section
Posted: November 24, 2017
Stout of Atlantic Properties brokers $11.5m sale for Eastport Real Estate Services
Atlantic Properties
Plymouth, MA On behalf of Eastport Real Estate Services, Atlantic Properties has facilitated the disposition of 225 Water St. for $11.5 million. The buyer was Linchris Hotel Group.
The building is a 76,000 s/f office building which was 94% occupied at the time of sale. The building is in downtown, located on the water, boasting water views and close proximity to shops, restaurants and historic attractions such as the Mayflower and Plymouth Rock.
Originally a clam processing plant, the building later served as Ocean Spray’s corporate headquarters, and was then converted to multi-tenant office.
Eastport has owned the property for 12 years.
Linchris Hotel Group intends to move their corporate headquarters to the building from Hanover.
Ben Stout of Atlantic Properties was the sole broker. Stout will continue his role in the leasing of 225 Water St.
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