Coldwell Banker Commercial has arranged the $5.1 million sale of The Pearl, a four-story office building in Chestnut Hill, MASS. The property totals 18,000 square feet and was built in 1973. It is situated on nearly half an acre of land and includes onsite parking as well as rooftop cellular towers.
Todd Glaskin of Coldwell Banker Commercial NRT represented the undisclosed seller in the transaction and previously handled all leasing for the building prior to its sale. The buyer was not disclsosed.
“Interest in this property came from large local investors, 1031 exchange buyers and many sourced by our colleagues in the residential local marketplace who received direct outreach from our team and led to the sourcing of the eventual buyer. The Pearl’s exceptional rental history, low vacancy and recent renovations make this an ideal long-term investment, potential company headquarters, 1031 exchange or as a viable long-term expansion or development opportunity. Coldwell Banker Commercial’s position as a leader in the commercial marketplace gives us unique access to the most complete marketing for our income properties,” said Glaskin.
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.