Our team leveraged the building’s proximity to the extremely successful lifestyle center, Legacy Place, and the competitive market to achieve a twenty-five percent premium over the asset’s street value just three to four years ago.
BOSTON (PRWEB) August 18, 2015
Savills Studley is pleased to announce that Boston Irrigation Supply Company (BISCO) sold 60 Stergis Way, a 20,000-square-foot flex asset located in Dedham, Massachusetts. The building is occupied by John Deere Landscapes, and was purchased for $2.2 million by local investor, Fulcrum Real Estate Partners of Needham, Massachusetts.
Steve Woodworth of Savills Studley’s Boston office represented BISCO; the buyer was unrepresented.
“We advised the client to take advantage of a net lease with an excellent credit tenant like John Deere Landscapes, to maximize the value of the property,” said Woodworth.
“Our team leveraged the building’s proximity to the extremely successful lifestyle center, Legacy Place, and the competitive market to achieve a twenty-five percent premium over the asset’s street value just three to four years ago.”
New England-based BISCO sold their business operations to John Deere Landscapes in late 2014 with the intention of selling the property into a very robust investment sales market in early/mid 2015.
About Savills Studley
Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 27 offices in the U.S. and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.
The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 27,000 professionals and over 600 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).
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