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A Compendium of Property & Capital News
Dec 3
A Compendium of Property & Capital News

Marcus & Millichap Arrange The Sale Of A 52,412 SF Office Building

November 19, 2021
489 Bernardston Rd.; Greenfield MA

GREENFIELD — Marcus & Millichap (NYSE: MMI), a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Medical Center at Cherry Rum, a 52,412-square foot office property located in Greenfield, MA, according to Thomas Shihadeh, regional manager of the firm’s Boston office. The asset sold for $2,725,000. Harrison Klein, an investment specialist in Marcus & Millichap’s Boston office, had the listing to market the property on behalf of the seller and procured the buyer, a Central Massachusetts-based family office.

Harrison Klein comments, “It was an honor working with this family who originally developed the site as a grocery center in the 1970s. The Central Massachusetts-based buyer plans to heavily invest in this well-located mixed medical asset, bringing it back to its glory days.”

Medical Center at Cherry Rum is located at 489 Bernardston Rd in Greenfield, MA. The property was built in 1977 and renovated for a medical office conversion in the early 2000s. O’Reilly Autoparts and a CVS subsidiary recently vacated the property. The 52,412 square foot building was delivered 58 percent occupied with a mix of medical tenants.