Boston & New England + Metro Boston + Retail | March 31, 2021

B+E Brokers $2M Sale of Retail Property Leased to Domino’s in Lowell

Investment brokerage firm B+E has arranged the $2 million sale of a retail property leased to Domino’s Pizza at 374 Chelmsford Street in Lowell, MASS.

The buyer was Prescott White and the seller was Geoff Schembechler. There are approximately 10 years remaining on the lease. Nolan Johnson of B+E represented the seller in the transaction.

“96% of Domino’s are operated by franchisees,” said Johnson. “This property was operated by a franchisee who has been in business since 1996 and has accumulated 24 locations in total.”

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B+E’s Johnson

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.