By Boston Business Journal | January 20, 2020
The Boston Harley-Davidson dealership located on the border of Revere and Malden has hired Boston Realty Advisors, one of the largest commercial real estate brokers in Massachusetts, to market three buildings as part of a potential sale-leaseback deal.
The mixed-use portfolio spans 114,000 square feet of retail and industrial space located next to Route 1. The 7.5-acre site is at 649-655 Squire Road in Revere and One Wesley Street in Malden. Near a half dozen MBTA bus routes, the site sees an average daily traffic volume of over 64,000 cars.
The site is behind a Showcase Cinema de Lux on Route 1, which Seattle e-commerce giant Amazon.com (Nasdaq: AMZN) is seeking to turn into its second distribution site in Revere. The first is at 135 American Legion Highway, the former headquarters of candy maker New England Confectionary Co. (NECCO), just two miles away. The Northgate Shopping Center, which has a Market Basket and a Petco, is also nearby.
Boston Harley-Davidson is part of the largest full-service Harley-Davidson dealership in the New England region and home to an onsite “Riding Academy.”
“I look forward to working with BRA on the next chapter in Boston H-D history,” Al Contois, co-owner and president of Boston Harley-Davidson, said in a statement. “This strategic vision and resulting sale leaseback will further strengthen our balance sheet, providing us with greater flexibility to serve our loyal customers and the Greater Boston community.”
The three buildings are fully occupied, with four other tenants who plan to continue their leases with the new owner. The other tenants are self-storage company Wayside Compartments, the pizza shop Easy Pie, dental clinic Perfect Dental, and bottled water supplier Rocky Mountain.
“Add in Boston Harley-Davidson as a tenant with stellar credit, and this opportunity is a home run,” Jason Weissman, Boston Realty Advisors founder and CEO, said in his own statement.
Boston Harley-Davidson, which occupies 38,000 square feet of the property, plans to stay on for at least another 10 years, according to a Boston Realty Advisors spokesman.
Boston Realty Advisors plans to announce a bid deadline for the portfolio in the “coming weeks,” the company said.