Baez/Cruz of ABG Commercial Trade Downtown Lawrence Office for $1.425M In ExclusiveJuly 13, 2020
LAWRENCE—Associated Brokerage Group completed the sale of 170 Common Street in Lawrence, a 29,000-sf, three-floor office building, which closed for $1.425 million. ABG advisors Francisco Baez and Danny Cruz partnered to represent both the seller, 170 Common Street LLC, and procure the buyer in the transaction.
170 Common Street, which previously sold in 2015 for $940,000, is centrally located in downtown Lawrence, a couple doors down from Lawrence City Hall, bordering Campagnone Common and a few blocks away from Lawrence General Hospital — the city’s largest employer. At time of sale, the building was 80 percent occupied by 12 Tenants — its largest space leased by Cafe Azteca — and was located in the Downtown and North Canal District Opportunity Zone.
ABG Commercial, with headquarters in Cambridge and branches also in Haverhill and Quincy, was happy to close the deal during the pandemic. “The sale demonstrates that although there may be lingering effects of COVID-19 on the economy in certain industries, there is still a need, desire and interest in acquiring office real estate,” said Baez and Cruz in a statement. The duo primarily focus their attention on real estate sales and leasing transactions in the Greater Boston area, centering on commercial property and multi-families in neighborhoods north of the city.Danny Cruz Francisco Baez