Wayland office condo portfolio sold for $1.3M
PHOTO/COURTESY
260 Boston Post Road in Wayland sells for $1.3 million
Legacy Warrior LLC has sold its portfolio of office condos in Wayland for $1.3 million, according to Greater Boston Commercial Properties (GBCP), which handled the transaction for the sellers.
The sale of eight of the buildings nine units accounts for 7,090 square feet within this 9,500-sq.-ft., two story office building at 260 Boston Post Road at Route 20. This is the second time GBCP’s Bret O’Brien has sold this portfolio of office condos, having completed the previous sale with Legacy Warrior’s principal Michael Price in 2008 for $1 million.
“The 7.6 percent cap rate and sale price of $183 per square foot is just another example of how diminishing cap rates are driving prices upwards in a fiercely competitive seller’s market,” said O’Brien in a statement.
The buyer, Costas Pantazis, plans to retain the current management company, Eastport Real Estate, which has handled the building for Legacy Warrior the past six years, according to CBCP.
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