Auction: Boston, MA – 56,000sf Newly Renovated Commercial Building – Includes 75+/- Space Parking Lot
June 12, 2009
- JJManning Auctioneers is proud to offer this 56,000+/- sf. newly renovated, brick and beam commercial building. The building is in a highly visible and accessible location in the quickly evolving ‘New Market Development Area’ which includes Suffolk construction, Perkin Elmer, BioSquare, and the Best Western Roundhouse Inn with Brigham and Women’s, Boston Medical Center, Boston University Medical Campus, and the Hampton Inn in the nearby Crosstown Center. Set within Boston’s Empowerment Zone, the property is eligible for a number of tax credit and incentive programs including employment wage tax credits, work opportunity tax credits, and accelerated depreciation on the purchase of equipment. This 4-story sand-blasted brick and beam building with ornamental brackets was originally built in 1892 as a Blacksmith Shop and later used for wool storage. Offering views of the Boston skyline, the structure has been carefully renovated for modern convenience and energy efficiency while maintaining and enhancing the historic architectural features. The property benefits from a highly visible and accessible location, adjacent to the South End, just 1 mile from the Back Bay, convenient to public transportation and downtown with easy access to I-93/Mass Ave. Connector & I-90/MA Pike. The neighboring secured lot at 80 Kemble St. included in the auction sale provides paved parking for 75+/- vehicles. Property Tours: Thursday, June 18th & 25th (from 11am-1pm) Real Estate Auction: Tuesday, June 30th at 11am on-site LAST LIST PRICE: $7 Million HISTORIC FEATURES: Restored wide wood plan milled floors, 10′-12′ sandblasted wood plank ceilings, exposed brick & beams with original 19th Century ornamental brackets. RENOVATIONS: New insulated aluminum windows, mechanical systems, granite & tile restrooms, access/egress stairs with oak treads & tile landings, entrance lobby with stained concrete floors and life-safety fire alarm/protection. DSL lines in place for existing security cameras. Elevator installation in progress. Recently updated roof. Interior renovation of first 3 floors is approximately 95% complete. OPEN FLOOR PLAN: Each 14,000+/- sf. floor offers a flexible layout able to accommodate users from 500-2,500 sf. with natural subdivisions of 5,600 & 8,400 sf. REST ROOMS: Modernized Men’s & Women’s in common areas on each floor feature granite countertops, new fixtures and accessories ELEVATOR: New, oversized industrial grade elevator with capacity for hand truck loads LOADING: Separate off-street loading access area EMPOWERMENT ZONE: Eligible for tax credit and incentive programs including employment wage tax credits, work opportunity tax credits, and accelerated depreciation on the purchase of equipment. Terms of Sale: 10% deposit of which $50,000 must be presented in cash, certified or bank check at the auction. Remainder of the 10% deposit in wire transfer, cash, certified or bank check by 5pm ET on Monday, 7/6/09. Balance in 45 days. 10% Buyer’s Premium. Other terms, if any, announced at the sale. Online Bidding Terms & 2% Buyer’s Broker Commission Terms: Visit www.JJManning.com for details & mandatory pre-registration requirements. # # # Media Contact: JJManning Auctioneers JUSTIN MANNING 800-521-0111 Trackback URL: XAtWmVybw==
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