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Jennings Real Estate (JRE) announced the successful completion of a $9.375 million strategic sale of the Northampton Commercial Portfolio, a collection of generationally owned commercial properties in Northampton, Massachusetts. The transaction, which closed on October 2, 2024, encompasses 11 parcels across 6.833 acres and includes seven fully leased buildings situated in one of Western Massachusetts' most dynamic commercial zones.
"This transaction represents a significant milestone in Northampton's commercial real estate market," said Kevin Jennings, Principal at Jennings Real Estate. "The portfolio's strategic location and strong tenant base made it an exceptionally attractive investment opportunity, while our tailored approach to the sale process ensured we met the sellers' specific requirements for confidentiality and value."
The portfolio features several prominent properties including:
- A 28,000-square-foot single-tenant retail/flex industrial building leased to Webs Yarn
- A 10,836-square-foot multi-tenant office building housing The Daily Hampshire Gazette
- A 7,000-square-foot medical office occupied by Integrative Medicine
- Multiple mixed-use commercial buildings with established tenants including Fresenius Kidney Care
Located between Interstate 91 and downtown Northampton, the properties benefit from premium visibility and access to over 19,378 vehicles daily. The portfolio's CB-Gateway zoning designation provides additional value through potential dense residential redevelopment opportunities.
JRE executed a confidential, targeted marketing approach that generated multiple competitive offers while maintaining the sellers' privacy requirements. The firm's comprehensive transaction management included coordinating with environmental consultants, appraisers, and financial institutions to ensure a seamless closing process.
"Our team's deep understanding of the Western Massachusetts market, combined with our extensive network of qualified investors, allowed us to identify the right buyer while maintaining strict confidentiality throughout the process," added Jonathan Little, Associate at Jennings Real Estate. "We continue to work with the new owner to maximize the portfolio's potential through strategic leasing and development initiatives."
The sale highlights the robust demand for well-positioned commercial real estate in Western Massachusetts, particularly in thriving markets like Northampton, known for its strong economic fundamentals and proximity to major educational institutions such as Smith College.
For more detailed information about this transaction, please visit the comprehensive case study at https://jennings-re.com/northampton-commercial-real-estate-portfolio-sale
About Jennings Real Estate Jennings Real Estate is a full-service commercial real estate firm specializing in commercial property transactions, tenant representation, and investment sales. With a proven record of facilitating successful deals across various sectors throughout Massachusetts and Connecticut, JRE delivers exceptional service and expertise to clients seeking to navigate complex commercial real estate transactions.
For more information, contact: Kevin Jennings or Jonathan Little at Jennings-re.com.
Contact Info:
Name: Ed Winslow
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Organization: US Commercial Lending
Address: 135 West 36th Street, New York, NY 10018, United States
Phone: +1-203-912-7244
Website: https://uscommerciallending.com
Release ID: 89145063