Pine Street Development LLC Acquires Mixed-Use Property In Swampscott, MA

Pine Street Development LLC, led by Mike Vienneau, has acquired a mixed-use property located at 12 Pine Street in Swampscott, MA. The sale was facilitated by John Craig of Marcus & Millichap on behalf of the seller, Pine Street Realty Trust. The transaction took place on 12/02/2021.

Summary of Transaction Details

• Property Type: Mixed-Use
• Transaction Amount: $1,593,000
• Address: 12 Pine Street, Swampscott, MA
• Market: Swampscott, MA
• Buyer: Pine Street Development LLC - Mike Vienneau
• Seller: Pine Street Realty Trust
• Broker: John Craig - Marcus & Millichap

This property spans approximately 14,984 square feet and was sold at a price of $1,593,000, resulting in a price per square foot of $106. Situated in the heart of Swampscott, it offers convenient access to the Swampscott Commuter Rail Station, restaurants, and beaches. Pine Street Development LLC plans to develop it into a 34-unit rental property, featuring one large retail space and 33 residential units.