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 the Adams Street Portfolio in Abington, Massachusetts. The properties sold for $2,800,000.
“This unique three-building portfolio on 1.2 acres of land presents a compelling value-add opportunity, with the potential for substantial growth by renovating the units and bringing rents to market rates,” said Tony Pepdjonovic, senior vice president investments. “Abington is a town that offers historical charm alongside modern convenience, an easily accessible MBTA station, close proximity to major highways, and a range of recreational amenities,” said Evan Griffith, senior vice president investments.
Pepdjonovic and Griffith, senior vice presidents in Marcus & Millichap’s Boston office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust and the buyer, a local LLC.
The Abington portfolio is comprised of three multifamily properties located at 401, 409, and 411 Adams Street. There are 16 units in total within this portfolio, with five units at 401, six at 409, and five at 411. The unit breakdown includes 1 studio, 13 one-bedroom/one-bath, and 2 two-bedroom/one-bath units. The properties are situated just two miles from Abington station, which services the Plymouth/Kingston line. Nearby national retailers include Lowe’s, Walmart, Target, Trader Joe’s, and Dunkin’ Donuts. The Rockland Golf Course is 1.4 miles away.
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.
