News: Front Section
Posted: February 9, 2012
The Conrad Group Inc. handles $3.363 million sale of 56 New Driftway
The Conrad Group, Inc. has consummated the sale of 56 New Driftway. The building consists of 24,000 s/f and is occupied by several medical tenants. Among the tenants are Harbor Medical, South Shore Women's Health and Healthcare South. The seller was Callahan & Hoffman and the buyer was Atlantic Management.
Peter Cooney of Conrad Group said, "Seven years ago, the property was in need of major renovations. We sold the building to Callahan & Hoffman who made the improvements and stabilized the property. The building has maintained a very high level of occupancy since."
Jim McEvoy of Conrad Group said, "The new buyer was attracted to the asset because of its stability, strong tenant roster and its potential for long term growth."
The brokers were McEvoy and Cooney of the Conrad Group.
According to the Registry of Deeds, the sale price was $3.363 million.
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