FRAMINGHAM, MA-The Bulfinch Companies is shelling out $4.525 million for Savers|Framingham, here. The 25,000-square-foot property is net leased by Savers for 12 years, starting in 2009.
The former CompUSA was built in 1960 and has hosted Shawmut Bank, among others. Savers eventually beat out fellow competitors for the vacant space, which included medical office and a car dealership. The seller, Commonwealth Center Associates was repped by Robert E. Griffin, Jr. and Geoffery Millerd of Cushman & Wakefield in the deal. Savers, Inc. is a discount chain store headquartered in Bellevue, WA.
"This asset has been a great investment for us ofor man y years and we are very pleased with the oucome of this transaction," says Brad Griffith a representative of Commonwealth Center. "We know that the Bulfinch Companies will do well with this property and its new tenant."
As GlobeSt.com recently reported, this is following a common trend of investors looking at net-leased properties as more solid investments, such as the recent purchase of CVS Pharmacy in Haverhill, MA.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
