Stephen Whalen Of City Realty Acquires Retail Property At 313 Washington Street For $8M

The retail asset at 313 Washington Street in Newton, MA was sold for $8,000,000. The property encompasses an area of 81,000 square feet, resulting in a price per square foot of $99. This transaction involved a distressed sale prompted by the lender, Eastern Bank.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $8,000,000
• Buyer: Stephen Whalen - City Realty
• Seller: Jeff Clary & Ted Norberg - Grander Capital Partners
• Brokers: Casey Valente, Edward Maher, James Tribble, Joseph Alvarado, Matthew Pullen, Robert Griffin, Samantha Hallowell & William Sleeper - Newmark
• Market: Newton, MA
• Square Footage: 81,000
• Price per Square Foot: $99

Stephen Whalen from City Realty is set to relocate his company's offices to the newly acquired site. The buyer intends to enhance the common areas of the property and lease out any vacant spaces, continuing their strategy to acquire distressed office properties.