–Leading investment sales firm represents the seller and procures the buyer for the mixed-use property in Gardner, Massachusetts–
Newton, MA (JANUARY 9, 2022)– Northeast Private Client Group® (NEPCG) has announced the sale of the Central Street Mixed-Use in Gardner, Massachusetts. Senior Associate Tim McGeary represented the seller and procured the buyers for the mixed-use transaction. Central Street Mixed-Use: located in Gardner, Massachusetts, sold for $2,320,000.
The Central Street Mixed-use currently consists of (17) one-bedroom, (12) retail, and (7) office spaces with the potential for redevelopment of additional residential units. A newly installed solar system on both roofs produces additional income and eliminates common area electric expenses. Both buildings have on-site coin-op laundry and full sprinkler systems. The Central Street Mixed-Use provides an investor the unique opportunity to acquire a mixed-use asset of scale in downtown Gardner with the ability to raise rents to market level.
“Gardner and downtown Gardner especially have become sought-after markets from investors outside the area as markets closer to Worcester and Boston have become more competitive. This property, in particular, and others nearby have great value-add opportunities, which are why we were able to attract investors from all over the state to run a competitive process and obtain the list price for our client. We expect to see continued activity in this market as rents continue to increase.” – Tim McGeary, Senior Associate
Northeast Private Client Group® specializes in mixed-use, retail, and multifamily real estate, exclusively representing investors, property owners, and professional real estate investors. To date, more than 1000 successful transactions have been completed totaling over $3 billion in value within local submarkets around the Northeast and Southeast regions of the United States.