March 16, 2017 – Dennis Kelleher and John Pentore, of Horvath & Tremblay, have arranged the sale of a mixed-use retail and apartment building located at 126 Pearl Street in Somerville, Massachusetts. The property closed at a price of $1,100,000.
126 Pearl Street is located in East Somerville and situated in close proximity to one of Greater Boston’s major developments at Assembly Row. This excellent urban location provides tenants easy access to downtown Boston by way of Sullivan Square T Station as well as I-93. The 7,629-square foot property is comprised of 5,388-square feet retail space on the first floor which is fully leased to four local tenants. Located on the second floor are three apartment units with historic fully occupancy. Each unit is separately metered for heat, hot water and electric utilities. The property offers a value add and development opportunity in a highly sought after rental market.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.