Newmark is pleased to announce that Executive Managing Director Mark Roth and Associate Brianna Piacitelli recently arranged the 19,000-square-foot building sale of 160 Wells Avenue in Newton, Massachusetts on behalf of the property owner, WRP Realty, Inc., and the buyer, Good Shepherd Community Care. The transaction was valued at $5,150,000.
160 Wells Avenue had been leased to New England Cable News (NECN) for over 20 years. The news station is relocating to Needham, Massachusetts in December to share facilities with other NBC Universal affiliates. Good Shepherd Community Care purchased the building in order to accommodate its growing staff, which serves the greater Boston area in at-home hospice care.
“We were happy to find a new building that kept us in Newton, where we have resided for many years,” said President of Good Shepherd Community Care Tim Boon. “The city of Newton has been supportive of our mission to provide the community with compassionate end of life care.”
Good Shephard Community Care will move into its new space in Spring 2020 after refreshing the interior finishes.
About Good Shepherd Community Care
As the first hospice in the state of Massachusetts, Good Shepherd Community Care has provided thousands of terminally ill patients and their families with the most vital “just in time” emotional and practical support, leading Good Shepherd to be one of the most trusted providers of compassionate hospice care in the Greater Boston area. Good Shepherd is committed to providing access to skilled, comprehensive care to all people in our service area with life-limiting illnesses living in their homes, nursing homes, and in assisted living facilities, while also providing support to their families. For further information, visit https://goodshepherdcampus.org/.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com. Newmark Group is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”) (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets.
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