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Neal Shalom And Josh Levy Of Waterstone Properties Group Acquire Retail Space In Braintree For $30M

Property Image
SOLD
$30,000,000
Josh Levy
Andrea Olshan

Massachusetts

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Retail86,000 SF
Sold 02/25/2025
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Property Image
SOLD

Neal Shalom And Josh Levy Of Waterstone Properties Group Acquire Retail Space In Braintree For $30M

350 Grossman Drive

See Similar Deals
Retail86,000 SF
Sold 02/25/2025
Josh Levy
Andrea Olshan
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$348
Total Square Footage:86,000 SF
Transaction Type:Sale

Waterstone Properties Group acquired a retail asset comprising 86,000 square feet located at 350 Grossman Drive in Braintree, MA for a total of $30,000,000. The purchase price reflects a price per square foot of $349, indicative of the transaction's market dynamics.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $30,000,000
  • Buyer: Neal Shalom & Josh Levy - Waterstone Properties Group
  • Seller: Andrea Olshan - Seritage Growth Properties
  • Square Footage: 86,000
  • Price per Square Foot: $349

The transaction was finalized on February 25, 2025, involving key representatives from both the buyer and seller's agencies. Neal Shalom, Josh Levy, and Andrea Olshan were instrumental in facilitating the deal within the marketplace's competitive environment.

Players

Josh Levy
Josh Levy
3 deals$102.2M volume
BUYER
Andrea Olshan
Seritage Growth Properties
Andrea Olshan
7 deals$178.4M volume
SELLER

Details

SOLD
IMAGE: Neal Shalom, Josh Levy & Andrea Olshan DATE: 02/25/2025 ADDRESS: 350 Grossman Drive MARKET: Braintree, MA ASSET TYPE: Retail BUYER: Neal Shalom & Josh Levy - Waterstone Properties Group (@WaterstonePG) SELLER: Andrea Olshan - Seritage Growth Properties SALE PRICE: $30,000,000 SF: 86,000 ~ PPSF: $349 NOTE: Waterstone Properties Group acquired 86,000 square feet of retail space at the Marketplace at Braintree for $30M from Seritage Growth Properties.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$106,583.66
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