Tim McGeary and Jake Freeman of Northeast Private Client Group® broker $4,850,000 sale of Fox Plaza in Weymouth, MA.
–Leading mid-market investment sales firm represents the seller and sources the buyer for the retail plaza in Weymouth, Massachusetts–
Newton, MA (July 12, 2021) – Real estate investment services firm Northeast Private Client Group® (NEPCG); has announced the sale of Fox Plaza located at 316 Washington Street in Weymouth, Massachusetts.
Senior Associate Tim McGeary along with Associate Jake Freeman represented the seller and procured the buyer in the $4,850,000 transaction.
Fox Plaza is a 24,700 +/- SF Retail Plaza conveniently located on Route 53 in Weymouth, Massachusetts. Newer compared to similar properties Fox Plaza was built in 1989. It is comprised of (7) seven retail tenants stretching across its 2.23 acres. Fox Plaza is known for its historically high occupancy, and tenant reimbursement. It also boasts a high traffic count with ample off-street parking. Recent capital improvements include updated sprinkler system, roof shingling, patchwork, sealcoating, and parking lot striping. Fox Plaza provides the buyer the unique opportunity to own a sizable and well-maintained retail strip with the ability to raise rents and cash flow.
The outbreak of the pandemic in 2019 created a trying period for the retail world. As traffic decreased rapidly, more vacancies were created. Despite this difficult time in the retail market, Tim and his team were able to find a buyer for this building.
“Even during a period where retail was considered unstable, we were able to secure an owner/user to purchase the building and occupy the vacant unit through our marketing efforts.” – Tim McGeary, Senior Associate.
In the past two years, Tim has closed an average of over $40 Million in sales and greater than $140 Million in total. While specializing in multi-family apartment buildings, Tim has helped numerous clients strategize the sale of their retail, office & mixed-use buildings throughout Greater Boston and Rhode Island.
Northeast Private Client Group® specializes in assisting investors, owners, and syndicators of mid-market multi-family real estate properties between $1M – $50M in the Northeast and Southeast regions. We represent sellers exclusively with their best interests in mind. We establish a trusted relationship by providing knowledge and guidance to help our clients achieve their individual goals for maximizing value and return on the sale of their real estate investment. Our 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.