"This property is in a central location in Quincy, and it received a lot of interest from many interested invertors," says Ross. "Both parties were happy with the terms of the deal."
The mixed-use buildings are located near Routes 3, 93 and 95. Hano tells GlobeSt.com that the properties consist of 40,737 sf and consist of one stand-alone industrial property and a retail building that is attached to an industrial building that includes two residential units. Republic Plumbing occupies the industrial space and Hano says that the rest of the property is fully leased.
The deal is indicative of a trend among industrial users to buy, rather than lease the properties they occupy. Most industry experts attribute the trend to the low-interest rates and the difficulty finding modern industrial space near the city.
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