March Madness: Full-Court Press Closing Out Q1
The start of 2023 has been challenging for commercial real estate on nearly all fronts. Thankfully, the hardworking, diligent team at Hunneman has worked steadfastly to ensure our clients receive the best service and advice. From leasing to investment sales, our brokers have assisted our clients in navigating difficult and uncertain waters—and their hard work has paid off!
March has proven itself to be a banner month for Hunneman and the clientele we gratefully serve. In total, our team has worked with 15 different tenants to find a cumulative 132,000 SF, assisted 12 landlords in filling their vacant space to the tune of 107,000 SF, and closed investment sales & capital markets transactions of 272,000 SF. We thought it prudent to take a breath and highlight a selection of deals we are proud to have brokered.
Investment Sales:
Tyler Ewing successfully sold a 21,935 SF flex/warehouse property located at 90 Hudson Road in Canton. Located on nearly 65,000 SF of land, our brokers worked doggedly to locate a buyer, and thoughtfully advised their client DJD Medical Inc. on how to realize the maximum potential of their property—to the tune of $4,900,000. Congratulations Tyler, and DJD Medical!
Carl Christie and Dan McGee were retained by Chatham Light Realty Corp to sell their property at 225 Boston Street in Lynn. A 29,754 SF medical office building that is 95% occupied—they worked tirelessly to source a buyer and ended up closing the deal with the City of Lynn to the tune of $3,650,000. Congratulations Carl and Dan!
Capital Markets & Financing:
Andrew Kaeyer and Bill Rand, two champions of our Capital Markets and Investment Sales group secured financing for 108 Myrtle Street in Quincy—a 165,000 SF Class A office property. Financing office assets in this economic climate is no easy task, but our team closed on the loan. Congratulations, Andrew and Bill!
Leasing:
Leeanne Rizzo, Ned Halloran, Connor Hayes (with an assist by David Campbell) successfully represented one of our valued clients— Vanderbilt Realty Ventures, LLC— and secured a fantastic tenant for 17,134 SF of office space for their flex property located at 290 Vanderbilt Ave in Norwood. After initial negotiations, they ended up closing the deal before March ended and secured a tenant move in May. Congratulations Leeanne, Ned, Connor, David, & Vanderbilt Realty!
Ken Oppenheim—an experienced broker with our north suburban team, was engaged by repeat client Element Experiential, an audio-visual consulting company interested in growing their space. Ken met with them, learned more about their needs and requirements, and went to work. Shortly after the initial engagement, Ken had secured 10,858 SF of space at 355 Middlesex Ave in Wilmington, a perfect fit. With a 5-year term, Ken ensured his tenant was well represented and all bases were covered. Congratulations, Ken!
Working with Grander Capital, Ned Halloran, Leeanne Rizzo, and Connor Hayes took the lead on leasing the meticulously renovated space at 70 Hastings Street in Wellesley. An attractive space for any tenant, our team leased 10,185 SF to a concierge medical clinic, with a 10-year term secured. Congratulations Ned, Leeanne, and Connor for chalking up another win!
This was just a small selection of deals that we closed for our clients over the course of March. We are Boston’s largest privately held, full service commercial brokerage firm. We have the expertise and experience to close deals, no matter what challenges are presented to us. We would be thrilled to assist you in any capacity— finding a tenant for your property, locating space for your business, negotiating the sale of your assets, or securing financing—we do it all.
For more information please contact:
Steve Prozinski, CEO | sprozinski@hunnemanre.com
Peter Evans, Executive Vice President & Managing Principle | pevans@hunnemanre.com
Mark Fallon, Director of Research & Strategy | mfallon@hunnemanre.com
