Broadway St

Everett, MA

Exited

Property Highlights

Purchased a 15-office unit building on Broadway Street in Chelsea, MA, with a 40% vacancy rate and a history as a police station.
Implemented value-add cosmetic repairs, such as replacing carpets and installing new HVAC mechanicals.
Successfully leased up the entire building, optimizing occupancy rates and increasing the property’s value.
Sold the property for a quick return, showcasing our expertise in identifying and executing value-add opportunities for commercial real estate investments.

Overview

We acquired a large 15-office unit building on Broadway Street in Chelsea, MA, which was previously a police station. At the time of purchase, the building had a 40% vacancy rate. Our team recognized the potential for value creation through cosmetic repairs and strategic property management. We replaced the carpets, installed new HVAC mechanicals, and successfully leased up the entire building. Ultimately, we sold the property for a quick return, demonstrating our ability to identify and capitalize on value-add opportunities.