Sale of Two Peabody, Mass., Buildings Fetches $12.1M for JMS Realty Trust
Two Peabody, Mass., buildings suitable for R&D use have been sold by James Salah’s JMS Realty Trust of Dedham, Mass., to B&H Group Limited for $12.1 million, in a deal announced by the commercial real estate brokerage involved in the sale.
NAI Hunneman Commercial represented JMS in the sale of the buildings, which total 126,801 square feet. Acquired by B&H were 9 Centennial Drive, a two-story, 75,000 square-foot office building suitable for office or R&D use; and 10 Technology Drive, a single-story, 51,000 square-foot office/warehouse building also suitable for R&D use. Both buildings are within the 307-acre, 45-building Centennial Park, developed in the 1980s by the Peabody Community Development Authority and located off Route 128.
10 Technology Drive was completed in 1980 and 9 Centennial Drive, six years later.
Four NAI Hunneman professionals represented JMS: Peter Benke, executive vice president; David Ross, executive vice president/principal; Dan McGee, financial analyst; and Jeffrey Becker senior vice president. B&H represented itself in the transaction.