December 9, 2016 | Front Section
Needham, MA – Boston Realty Advisors (BRA) completed the sale of 109-123 Highland Ave. a 22,447 s/f office building; the sale price of $6 million equates to $267 per s/f. BRA’s suburban office team represented the seller, Winhall Cos. Jeremy Freid and Adam Meixner, both managing directors & partners, led the sales and marketing efforts.
The transaction marks the firm’s third sale in the past five months in the town’s N2 Innovation Corridor which is evolving into a tech-friendly business destination. In September, BRA represented Urban Equities in the sale of 140 Gould St. The 40,235 s/f building was purchased by the Petrini Corp. for $7.05 million or $175 per s/f. BRA also represented Wallace Properties in the sale of 10 Charles St., a 40,000 s/f flex building, which sold for $5,782,500 in July.
On all three assignments, the suburban team was first engaged as the exclusive leasing broker to stabilize the assets. Each property was fully-leased at the time of sale with major tenants secured by BRA including Confidence Connection (11,000 s/f at 140 Gould), Columbus Restaurant Group (9,000 s/f at 10 Charles) and Valmarc Corporation (6,000 s/f at 109 Highland).
“Our clients elected to work with a team that not only specialized in the I-95/Mass Pike office submarket but also offered a strong collaboration between the capital markets and leasing teams. These recent transactions signify the team’s depth of knowledge and breadth of resources from stabilization to disposition of an asset,” said Freid.
Boston Realty Advisors is a privately held commercial brokerage firm based in Boston, Massachusetts. The full-service platform includes capital markets, tenant and landlord representation. Specializing in the leasing and sales of commercial real estate within the 95/Mass Pike market, the Suburban Team at Boston Realty Advisors has consistently ranked amongst the top performers in this submarket for office lease and sales transactions for over a decade. What differentiates the team is their hyper-focus on a targeted geographic submarket, asset class and deal size while also entrenching themselves within local boards and organizations. This approach enables them to provide their clients with much deeper knowledge and connectivity to their market.Tags: Adam Meixner, Capital Markets, Jeremy Freid