Greystar Development Acquires Development Site In Everett, MA For $56M

The development site located at 1690 Revere Beach Pkwy in Everett, MA has been sold in a transaction. The property, with a sale price of $56,000,000, offers 84,544 buildable square footage at a price per buildable square foot (PPBSF) of $662. The total square footage of the site is 300,636, and the price per square foot (PPSF) of the property is $186. The transaction took place on November 18, 2022.

Summary of Transaction Details:

• Property Type: Development Site
• Transaction Amount: $56,000,000
• Buildable Square Footage: 84,544
• Price per Buildable Square Foot (PPBSF): $662
• Total Square Footage: 300,636
• Price per Square Foot (PPSF): $186
• Address: 1690 Revere Beach Pkwy, Everett, MA
• Market: Everett, MA

The buyer in this transaction is Greystar Development, while The Grossman Companies acted as the seller. The deal was facilitated by brokers Chris Sower, Jon Bryant, Bruce Lusa, John Flaherty, and Kevin Jones from Cushman & Wakefield, along with Jeff Black and Thomas Welch from Colliers.