Dennis Kelleher and John Pentore of Horvath & Tremblay have successfully completed the sale of a transit-oriented redevelopment property in Melrose, Massachusetts. The duo exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,200,000.
31-39 West Wyoming Avenue is a two-parcel redevelopment opportunity comprised of 17,250 square feet of land area. The property consists of two parcels; a vacant corner parcel and a larger adjacent parcel occupied by a street-front retail building, and 24 commercial parking garages located at the rear of the property. The property is strategically located immediately across from a signalized intersection across from the Wyoming Hill Commuter Rail Station and is walkable to downtown Melrose and its many shopping, dining and entertainment options. The redevelopment opportunity is strategically located in Melrose, a town featuring a population in excess of 28,000 people with an average household income of $93,500.
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.