"This property offers a spectacular redevelopment opportunityfor the buyer in a strong commercial market," says NAI/HunnemanCommercial Co. senior vice president Robert A. Tito, whoseInvestment Services Group brokered the sale. Hunneman representedthe seller, One Market Street Realty Trust, and found thebuyer.
The most prominent of the properties is 16 Laurel Ave., afour-story office building constructed in 1919 by Babson Collegefounder Roger Babson. Along with that 37,000-sf building, HaynesManagement also purchased 10 Laurel Ave., a 14,000-sf building, aswell as the 27,000-sf vacant parcel at 20 Prescott St.
Tito says Haynes is repositioning the properties through anextensive overhaul, with occupancy slated for later this year.
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