Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Framingham Development Opportunity, a 5.74 acres of land storage development opportunity located in Framingham, Massachusetts, according to Grant Fitzgerald, Associate Regional Manager of the firm’s Columbus office.
Nathan Coe, Brett R. Hatcher, and Gabriel Coe, investment specialists in Marcus & Millichap’s Columbus office, had the exclusive listing to market the property on behalf of the seller, a limited liability company, and they also secured and represented the buyer. John Horowitz, Broker of Record, assisted in closing this transaction.
Framingham Development Opportunity is located at 71 Bishop Street in Framingham, Massachusetts. This property proposes 717 climate-controlled units and 213 non-climate units totaling 80,000 net rentable square feet in phase one. The property sits on 5.74 acres of land and is located about 16 miles west of downtown Boston. Nathan Coe, the lead broker, had the following to say about the closing, “I am pleased to announce the closing of the Framingham self-storage development site. I am very excited for both the sellers and the buyers. This was a very competitive process where we received numerous offers from strong, reputable storage developers, and it sold above list price. I am excited to see the facility get built and lease up quickly.”
About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.
