Newmark Grubb Knight Frank (NGKF) is pleased to announce that Peter Whoriskey, managing director and Michael Frisoli, executive managing director, recently completed the 241,454-square-foot building sale of 80 Stockwell Drive in Avon, Massachusetts on behalf of the property owner, Hilco Real Estate, a unit of Hilco Global. The transaction was valued at $9.55 million.
“We are thrilled to have represented Hilco Real Estate in the sale of 80 Stockwell Drive,” said Whoriskey. “Hilco did an excellent job modernizing the facility and coupled with the location and flexibility of the asset made for a very attractive opportunity for the buyer.”
80 Stockwell Drive is a single-story, office and distribution warehouse facility located 20 miles south of Boston. The 12.70 acre property features 35,840 square feet of first-class office space as well as 205,614 square feet of warehouse space. The property features two presentation rooms, private offices, 22’ ceilings, 17 dock doors, and an open floor plate. 80 Stockwell Drive is situated along route 24, offering excellent highway visibility and is within minutes of I-93, I-95, I-495 and Route 128.
NGKF represented the seller, Hilco Real Estate, in the transaction and Joel Miller of Permanser represented the buyer.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.
About Hilco Real Estate
Hilco Real Estate (www.hilcorealestate.com) is a trusted advisor and principal investor in commercial real estate transactions, providing a single integrated solution to maximize the value of value-add, opportunistic and obsolete real estate properties. By leveraging the integrated network and unique capabilities of the Hilco Global holding company, Hilco Real Estate tailors its approach to each project to efficiently redevelop or reposition complex real estate assets and liabilities. Hilco Real Estate is part of Northbrook, IL based Hilco Global (www.hilcoglobal.com), the world’s leading authority on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace. Hilco Global operates more than twenty specialized business units offering services that include asset valuation and appraisal, retail and industrial inventory acquisition and disposition, real estate and strategic capital equity investments.