NAI Hunneman completes sales totaling $3.6 Million in Brockton, MA
Halloran, Rizzo & Osvold complete two separate 1031 Exchange sales for lab & industrial products
BOSTON, MA - NAI Hunneman recently completed two, 1031 exchange sales involving properties located in Brockton, MA. 2 Jonathan Drive, a 14,308 SF lab building occupied by U.S. Laboratories and located off Rt. 24 at Exit 17 sold for $1,600,000; while 45 Industrial Boulevard, a 46,000 SF industrial building located just off of Rt. 28 and occupied by Zoots sold for $2,000,000.
Both properties were purchased by Norwest Group, Inc., who was represented by NAI Hunneman Senior Vice Presidents Ned Halloran and Leeanne Rizzo. NAI Hunneman Vice President Ovar Osvold represented 2 Jonathan Drive seller, Jonathan Realty Trust; while JLL represented the seller of 45 Industrial Boulevard, American Medical Response of Massachusetts, Inc.
“Over the past 15 months we have worked with Norwest Group on four separate transactions stemming from the sale of the former HQ for RH Scales at 240 University Ave, Westwood in which we played an advisory role. Prior to the sale of 240 University Ave, we represented Norwest Group on the acquisition of 135 Forbes Road in Mansfield which will serve as the new corporate headquarters for RH Scales,” said Halloran. “The acquisitions of 2 Jonathan Drive and 45 Industrial Boulevard were the last component for Norwest Group in restructuring its real estate holdings. These acquisitions allowed them to reinvest proceeds from the sale of 240 University Ave via a 1031 exchange into two properties that are 100% leased to quality tenants that generate solid returns.”
About NAI Hunneman:
Headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market. NAI Hunneman is a member of NAI Global, the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide. NAI Global manages a network of over 7,000 professionals and more than 400 offices throughout the world. NAI professionals work together with its global management team to help clients strategically optimize their real estate assets. To learn more about NAI Hunneman and the NAI Global Network please visit naihunneman.com.