Needham, Massachusetts – One would be hard pressed to find a better located assemblage of commercial real estate assets along the central 128 belt of the Boston suburban market than the collection of Flex properties between Gould St, Kearney Rd, Ellis St & Hampton Ave. Comprised of roughly 3.45 acres of land, the portfolio is improved by multiple buildings containing 77,300 square feet of extremely well cared for multi-tenanted Flex space. In addition, the portfolio offers ideal highway access being located less than half a mile from the Highland Ave. exit off I-95/128. Under the stewardship of the Tocci family for over a half century, David Tocci has taken meticulous care of the properties and has historically maintained 100% occupancy. Mr. Tocci did not actively market the properties for sale and opted to sell after establishing a relationship with an area developer with a similar long-term vision for the asset. The buyer, an affiliate of Intrum Corp based in Newton, MA, recognized the long-term viability of the properties which aligned well with their strategic approach of acquiring well located, multi-tenanted office, industrial and flex properties in the Boston market. Stefan Frey, Principal of Commonwealth Commercial Advisors, Inc. represented both Buyer and Seller in the transaction.
About Intrum Corp: Intrum is a Newton based real estate development firm specializing in the acquisition and development/repositioning of CRE and multi-family investment properties. Intrum and its affiliate entities have significant area holdings including in the adjacent Founder’s and Wells Avenue Office Parks as well several other surrounding Greater Boston communities. Intrum takes pride in its “hands-on” approach to property ownership, management and establishing tenant relationships, and is known for delivering a truly “best-in-class” tenant experience.
About Commonwealth Commercial Advisors: Commonwealth Commercial Advisors is a full-service boutique commercial real estate firm located in greater Boston, MA. CCA takes a personal, consultative approach in representing their client’s specific and unique requirements. CCA provides the highest level of service by utilizing extensive industry knowledge and expertise of the local commercial real estate market and works diligently to meet each client’s strategic, operational, financial, and cultural goals. More information can be found at http://www.ccadvisors.net.