News:
Brokerage
Posted: May 25, 2018
The Grossman Companies sells Citizens Bank Brookline branch for $4.1 million
Grossman Companies
Brookline, MA Brookline GK LLC, an affiliate of The Grossman Companies, Inc., the Quincy, Mass.-based commercial real estate investment, management and brokerage firm, has sold the Citizens Bank branch building at 429 Harvard St. for $4.1 million
The buyer, Oak Hill Properties LLC of Boston, was represented in the transaction by David Ross, executive vice president/principal in NAI Hunneman’s Investment Sales & Capital Markets Group. Representing the seller was Michael O’Mara, broker at Atlantic Retail Properties in Boston.
According to Jake Grossman, co-president of The Grossman Cos., “When we bought the property in 2013 for $2.275 million, we viewed it as part of our long-term ‘Main Street’ portfolio in well-located affluent communities. But our strategy changed as the capital markets heated up and we realized that we could deploy the capital into other opportunities with more near-term growth potential.”
Located in Brookline’s Coolidge Corner, the 3,000 s/f bank building sits on a quarter acre that includes 14 parking spaces.
MORE FROM Brokerage
RapDev leases 17,587 s/f at 501 Boylston St. - lease brokered by JLL
Boston, MA RapDev, a leading software-engineering and DevOps consultancy, has leased 17,587 s/f at 501 Boylston St. in the city’s Back Bay. The company moved into the new space this summer, consolidating operations onto a single floor to accommodate growth and create a workplace that reflects its collaborative culture.
Quick Hits
.png)
Columns and Thought Leadership
Placemaking and retail in 2024 - by Carol Todreas
Placemaking. That is the word for 2024. While the concept has historical precedence in urban development, it became part of our current culture in the 1960’s when urbanists started to think about cities for people, not just cars.
Newbury Street: Boston’s timeless retail gem thrives in a modern era - by Joseph Aquino
Boston’s iconic Newbury St. continues to thrive as one of the most vibrant and compelling retail corridors in the United States. Nestled in the heart of the Back Bay, this historic St. has evolved into a powerhouse of high-St. retail, where luxury meets lifestyle and legacy brands coexist with up-and-coming names. With its European charm, diverse architecture, and unmatched foot traffic, Newbury St. remains a dynamic reflection of Boston’s energy, culture, and economic strength.
Retail / tariffs / uncertainty and (still) opportunity - Carol Todreas
As new tariffs continue to impact the global economy, retail businesses and investors are grappling with heightened uncertainty. From new high tariffs to supply chain issues to evolving consumer behaviors, continual changes are making it as or more challenging than the pandemic years. Yet, amidst this turbulence,
End of the year retail thoughts - by Carol Todreas
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
