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STONEHAM, MA-Everest Partners LLC purchased a three-story building at 91 Montvale Ave. from New Boston Fund for $6.4 million. The 50,648-sf building caters to medical and office users and is located near Interstate 93, just south of the Route 128/95 interchange.

The building is currently 90% occupied by tenants such as Executive Glass Co., Guertin Elkerton & Associates Inc., North Shore Cataract and Laser Center LLC and Massachusetts Federal Credit Union.

Liam Hurley, director of leasing for Everest, notes that “the quality, location, tenant mix and retention of this building were the motivating factors in the purchase.” Steve McDonnell, regional manager for Everest, adds that “We see a multi-faceted opportunity in this asset. It combines a strong tenant base with additional close-suburban coverage. It is a very tempting alternative to those sitting on the lower deck each morning.”

Everest Partners is a privately held, New York-based real estate investment firm with a local office in Danvers, MA. Everest currently owns and manages more than two million sf of office/flex and retail properties throughout southern New England.

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