Newmark has successfully sold 75 Pleasant St., a vacant office building located in Malden, MA. The property spans over 125,521 square feet and offers potential for various uses in the future. The sale price was not disclosed.
The seller was represented by Robert Griffin and Edward Maher, co-heads of U.S. Capital Markets; Matthew Pullen, Vice Chairman; James Tribble, executive managing director; Samantha Hallowell senior managing director; Joseph Alvarado and Casey Valente associate directors from Newmark’s Boston Capital Markets Group’s office and private capital practices. They also helped find the buyer for the property – United Properties.
With five stories each spanning around 25,000 square feet, this property is equipped with existing infrastructure that can be utilized for different purposes such as offices or medical facilities. According to Hallowell: “75 Pleasant St.” presents an excellent opportunity to add value in Malden Center – a rapidly developing downtown area with easy access to transportation just north of Boston.” This location falls under an “urban edge” community category which adds further appeal to potential buyers or investors looking at this property.
