Hayes & Sherry Represents Seller in $2.68M Sale of 12-Acre Charlestown Property
Tuesday, February 07, 2023
Hayes & Sherry, one of the region’s leading full service commercial real estate brokerage firms, has facilitated the successful $2.68 million sale of a 12-acre property in Charlestown. The property, at 5407 Post Road, was sold in late January.
In 2022, the firm changed ownership. Founding owners Pete Hayes and Karl Sherry sold the company to partners Matt Fair, Bill Greene, and Dave Lucivero.
Hayes and Sherry started the firm in 1990.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTDerek Brazeau, a specialized multifamily broker for Hayes and Sherry, led the Charlestown transaction. He represented the seller.
“It’s not often that a property of this size in such an in-demand area becomes available, and as such, we wanted to maximize the amount of exposure and opportunity our client deserved,” said Brazeau. “It is exciting to just think about the potential this property offers and what those possibilities are. As a firm, we’re thrilled both for our client and for the fact the buyer is local.”
More About Property
The land is located close to the ocean and with convenient on/off access to Route 1, the 12-acre property currently consists of four distinct components: office, motel, retail, and a 23-unit mobile residential park.
It is an income-producing property with near limitless redevelopment potential for both retail and residential in a seacoast community with nearby state and town beaches, marinas, restaurants, and a national park. Presently, the motel, restaurant, and office building are vacant and inoperable. The restaurant was formerly the home of local favorite, Lobster Pot.
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