Northeast Private Client Group Sells Office and Retail Building in Franklin for $2.53 Million
– Leading mid-market investment sales firm represents seller and sources buyer for retail and office property in Franklin, MA–
Franklin, MA (September 19, 2019) – Investment sales broker Northeast Private Client Group has announced the sale of Summer Street Mixed-Use located at 9 Summer Street in Franklin, MA. Drew Kirkland, senior associate for the firm, along with investment associate, Tim McGeary, represented the seller and procured the buyer in the $2,530,000 transaction.
Summer Street Mixed-Use is a property occupied by four (4) retails tenants and twelve (12) office tenants. It is one of three buildings in a condominium association, all of which share the abutting parking lot.
9 Summer Street, LLC sold the property to a private Needham-based buyer for a price that equates to $156.61 per square foot and a capitalization rate of 8.85 percent based on current net operating income.
About Northeast Private Client Group
Northeast Private Client Group is the leading mid-market investment sales firm in the region and was recently named to the Inc5000 list of America’s fastest-growing private companies. With offices in New York, Connecticut and Massachusetts, the firm actively supports private investors looking to buy, sell or exchange mid-market properties including mixed-use, multifamily, retail and office assets. Northeast Private Client Group’s highly disciplined process is just one of the many reasons the firm has earned CoStar’s Power Broker designation year after year. To learn more, visit: www.northeastpcg.com.