Waltham, MA – NAI Glickman Kovago & Jacobs has successfully brokered the sale of a prominent mixed-use portfolio located in the heart of downtown Waltham. The assemblage, which includes 550 Moody Street, 560 & 570 Moody Street, 10 Myrtle Street, 11 Alder Street, and 90 Cherry St, which sold on August 1st for $9,290,000.
Comprising a dynamic mix of residential and retail units across five contiguous parcels and one adjacent property, the portfolio presents a rare, transit-oriented investment opportunity in one of Greater Boston’s most vibrant and evolving downtown corridors. In total, the site includes five retail storefronts which include tenants such as Coldwell Banker, Koko Dental, and Point Insurance, and contains 18 market rate residential apartments, and on-site surface parking, offering strong in-place income with long-term investment potential.
NAI Glickman Kovago & Jacobs Vice President Tim Whittredge and Principal Mike Jacobs assisted in representing the seller LJB, LLC in the $9,290,000 transaction. The property owners had declared Chapter 11 Bankruptcy during the initial marketing of the property. Through the bankruptcy process, both brokers worked in tandem with court appointed trustee to assist in sourcing stalking horse bids and ultimately finding multiple bidders in which the entity 550 Moody, LLC secured the highest and best bid of $9,290,000 on the property.
About NAI Glickman Kovago & Jacobs
NAI Glickman Kovago & Jacobs is a leading, full-service commercial real estate brokerage and tenant representation company based in Worcester, MA. Our specialized office focuses on office, industrial, retail, investment, commercial, land and multi-family properties.
To learn more, visit www.glickmankovago.com.
About NAI Global
NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. NAI Global Member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs.
To learn more, visit www.naiglobal.com.
