PEABODY, MA-Two commercial properties north of Boston have been acquired by a Massachusetts-based investment company for $12.1 million. The assets were sold jointly by JMS Realty Trust to B&H Peabody Property LLC.

“These buildings are located in one of the North Shore’s most attractive business parks and offer immense future investment potential,” says NAI Hunneman Commercial Co. EVP Peter Benke, who represented the seller along with NAI Hunneman colleagues Jeffrey Becker, Dan McGee and David Ross. The buyer negotiated terms for 9 Centennial Dr. and 10 Technology Dr. in-house. Both buildings are in Centennial Park, among the first master-planned business centers ever developed in suburban Boston, with a location just off Route 128.

The larger and newer of the assets acquired by B&H is 9 Centennial Dr., a two-story, 75,000-sf flex/office building that came on line in 1986. The companion structure is a 27-year-old, single-story facility featuring 51,000 sf suitable as distribution, flex or light manufacturing space. There was no breakdown of what each property traded for, but the overall total was about $96 per sf.

JMS Realty Trust is operated by James Salah, a veteran developer active in Massachusetts during the 1980s who has since relocated to Boca Raton, FL. B&H Peabody Properties is a new arrival in the market, with Yair Hadar of Brookline listed as manager. The entity, which seeks to engage in various real estate investments, was formed in late April along with a second company, Peabody Properties LLC.

Efforts to contact B&H officials were unsuccessful by press deadline, and brokers at NAI did not indicate what the new ownership’s plans are for the buildings. According to one document, 10 Technology Dr. is fully leased, while 60% of 9 Centennial Dr. is available, providing a block of space as large as 45,000 sf.

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