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Investor Buys Industrial Building

WILMINGTON, MA-Richard Kohn acquires 150 West St. for $915,000 or $46 per sf. The Boston-based commercial real estate investor bought the 20,000-sf industrial property in an effort to complete a 1031 tax-free exchange.

By Naomi Grossman | Updated on March 25, 2004

WILMINGTON, MA-Richard Kohn, a Boston-based commercial real estate investor, purchased 150 West St. for $915,000 or $46 per sf. David Stubblebine and James Stubblebine, principals of the Stubblebine Co., were the brokers on the property and represented the seller, the Getov Co., in the transaction, while Brad Spencer of Grubb & Ellis represented Richard Kohn.

A release from Stubblebine indicates that Kohn bought the property in an effort to complete a 1031 tax-free exchange. The 20,000-sf industrial building is located close to the Route 129/Route 93 interchange. The building, which is situated on four acres, was built in 1985 and features 12-ft clear ceilings as well as surface parking and two loading docks.

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