News: Front Section
Posted: August 21, 2014
The Conrad Group completes $9.45 million sale of 700 Longwater Dr.
The Conrad Group, Inc. has recently negotiated the sale of 700 Longwater Dr. in Assinippi Park. The two story, 73,000 s/f office building was built in the late 1980s and sits on 6.5 acres of land. Presently, the building is 100% leased. The main tenant, Collecto, Inc. has made 700 Longwater their regional headquarters since the late 90s and occupies 54,000 s/f. The other tenant, R.S. Means, Inc. occupies the remaining 17,000 s/f.
The new buyer, Foxrock Properties, plans extensive interior and exterior renovations to the property. Foxrock purchased the property from Oasis 700 Longwater, LLC. This is the fourth building that Foxrock owns in the park.
Robert Conrad, president of The Conrad Group, said, "Foxrock's attention to detail along with their planned improvements will bode very well for the tenants of the building and the town of Norwell. Their other 3 buildings in the park are 100% leased as well and are some of the highest quality office buildings on the South Shore."
According to the Plymouth Registry of Deeds, the sale price was $9.45 million.
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