An investment holdings company recently acquired a 190-unit apartment complex in the state of Massachusetts for $56 million. The per-unit purchase is about $295,000 for each unit. According to the investment holdings company, part of the reason for the purchase is that this area of Massachusetts features an in-demand commercial real estate market...
Category: Commercial Real Estate
Commercial real estate property sold for more than $63M
A real estate investment and management company recently completed a commercial property sale in Massachusetts. The commercial real estate property is an office building located in the city of Worcester. Another real estate investment partner acquired this property for a total of $63.5 million.
The office building spans more than 413,000 square feet. It underwent...
Commercial real estate property to be used for medical marijuana
An out-of-state company desiring to grow and market medical marijuana is currently in the process of purchasing a mill in Massachusetts for this purpose. The commercial real estate property that will be bought is four stories tall and made of brick. It features more than 170,000 square feet of space and sits on...
Commercial real estate eyed as strong area for investment
With the recent turmoil in the stock market following the election of Donald Trump, many investors throughout the United States, including in Massachusetts, have been analyzing their investment strategies to determine the best routes to take. One area that has garnered increasing attention is commercial real estate -- specifically private-equity real estate. This...
Commercial real estate development for office space approved
A new office property is in the process of being developed in Massachusetts following a redevelopment authority's approval of the project. This building slated to be developed will be eight stories tall and span 230,000 square feet. The commercial real estate development site was acquired by two companies, Rubenstein Partners and Nordblom Company,...
Tips for negotiating a commercial lease – Part 2
This second installment in our blog series devoted to commercial leases examines some of the strategic points to consider in lease negotiations.
Price is probably the first lease term that comes to mind. Yet this term is also highly subjective, depending on factors such as the location of the commercial neighborhood, its reputation, and other...
Tips for negotiating a commercial lease – Part 1
This two-part blog series is devoted to commercial leases: tips for negotiating advantageous terms, as well as guidelines for evaluating whether it might be time to move on.
As context, consider the example of Manhattan’s Park Avenue office district. The name is often associated with big corporations and investment firms. However, a recent article profiled...
Is it possible to terminate a commercial lease early?
In a previous blog post, we discussed some of the specific clauses that business owners would be wise to ensure are included in a commercial lease. Above all, commercial lease should include provisions that serve to preserve and protect a business owner's interests. In cases where a business owner subsequently wants to terminate...
How an attorney can assist business owners in securing financing
Unlike a loan obtained to purchase a vehicle or a car, those involved in the purchase of commercial real estate can, and should be, negotiated. The timing of such negotiations are dependent upon when a borrower is able to secure financing and then submit what's known as a commitment letter to a borrower as...
The legal basics of a construction defect claim: part II
In our last blog post, we began discussing some of the legal claims that may be asserted and must be proved in cases involving allegations of construction defects. We also discussed the numerous players that may be involved or implicated in these types of cases. As previously noted, legal claims that are commonly alleged...