News: Front Section
Posted: August 30, 2012
Stout of Atlantic Properties handles $2.8 million sale to Legacy Real Estate
On behalf of 12 Resnik Road, LLC, Atlantic Properties sold 12 Resnik Rd. to Legacy Real Estate Ventures for $2.8 million. 12 Resnik Rd. is a fully occupied 27,000 s/f class A flex building which was built in 2004. Tenants include Mayflower Brewery, Road To Responsibility, LEC Environmental and Imagination Island.
Located in the Plymouth Industrial Park, the building is in close proximity to Rte. 3 and Rte. 44 allowing access to points, north, south and west. Numerous amenities including Colony Place, a 1 million s/f lifestyle center as well as downtown Plymouth are among the reasons tenants are attracted to the area and 12 Resnik Rd.
"The acquisition of 12 Resnik Rd. is the latest in a string of quality asset purchases by Legacy's principal, Michael Price," said Ben Stout from Atlantic Properties. Long-term triple net leases attracted Price to the building but the tenant mix and quality drove the transaction to the finish line. The acquisition was financed by Cambridge Savings Bank and the property will be managed by Eastport Real Estate Services. Stout was the sole broker in the transaction.
Stout has a 10 year history of working with Price, first through Eastport Real Estate Services and now with Legacy Real Estate Ventures. Stout represents Eastport in the leasing of 225 Water St., a first class 76,000 s/f multi-tenant office building.
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McEvoy of The Conrad Group brokers $2.9 million sale of industrial building
Hingham, MA The Conrad Group has brokered the sale of 55 Research Rd., South Shore Park. The property consists of a 20,340 s/f single story manufacturing building on two acres of land.
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