Freudenheim Partners announced today that it has sold 3 buildings comprising 98,771 SF for Developer/Investor, Rincon Companies. Rincon sold 190 Fountain Street and 300 Second Avenue for a combined $14.025M, to Azad Legacy Partners, LLC. 190 Fountain is a 32,696 SF industrial building located in downtown Framingham near the MBTA commuter rail station, I-90, and Routes 9 and 30. 300 Second Avenue is a 14,175 SF lab property in Waltham that currently houses SnapDragon Chemistry. Leigh Freudenheim and Tyler Ewing negotiated the sale on behalf of Rincon Companies while Anthony Biette, of Peak Real Estate Advisors, represented the buyer.
In a separate transaction, Rincon Companies sold 10 Technology Drive in Peabody to Berkeley Partners for $8.55M. 10 Technology is a 51,900 SF manufacturing building in Peabody just moments from I-95. The building was 100% occupied at the time of the sale. Tyler Ewing and Leigh Freudenheim represented Rincon Companies and procured the buyer.
“I couldn’t be happier with the completion of the transactions” said Sean Wilder, CEO of Rincon Companies, “The prices received allowed us to meet our investment return objectives and will enable us to move on to new opportunities.”
About Rincon Companies
Rincon Companies is a private equity investment firm specializing in the sponsorship, syndication, development and management of select real estate related investments in the Greater Boston markets. Rincon Companies leverages equity and traditional debt in conjunction with a comprehensive real estate knowledge base to acquire and/or develop real estate companies and assets that have strong performance potential.
With a focus on assets with a distinct value-add component, Rincon Companies employs the extensive operating and investment experience of its principals to make value-add real estate related investments on behalf of its equity partners. Our vertically integrated platform allows us to maximize value and mitigate risk at every stage of an investment’s life cycle, including acquisition, financing, construction, leasing, property management and disposition.
About Freudenheim Partners:
A commercial real estate brokerage firm founded on the principle that strong relationships are built by consistently delivering the best results for our clients. FP brings creativity, thoughtful insight and superior execution to the forefront of each and every leasing and investment sales interaction.
For more information about Freudenheim Partners, please visit freudenheimpartners.com.
