Gibbons of ABG Realty brokers the sale of 40k square feet commercial building on Broadway Somerville

Sept. 26, 2011 - PRLog -- Bernard Gibbons of ABG Realty represented the seller, Somerglen LP, in the transaction of 130 Broadway Somerville, MA. The building was sold to PSG Framing out of Boston earlier this month at the price of $2 million.

    130 Broadway boasts 40,000 SF of land improved by 20,000 SF of commercial warehouse / retail space. 10,000 SF of warehouse space located in in the rear of the building will be converted into a light manufacturing facility. The 10,000 sq ft of space in the front of the building (facing Broadway) will be converted into street level retail space.

   The extensive gut renovations taking place at 130 Broadway, present a unique opportunity for retailers to mark their presence at the epicenter of Somerville's latest gentrification project. Catapulting off the success of the Assembly Square redevelopment around the corner, the city is committed to a $7 million streetscape renovation project along Broadway to create a pedestrian-friendly, multi-modal, transit-oriented street that encourages people to walk, bike and gather along East Somerville's central business corridor. Construction is currently scheduled for completion in August 2011.

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Abg realty is a commercial real estate brokerage and advisory firm, specializing in the sale and leasing office space , retail space & industrial space in the Greater Boston and Eastern Massachusetts area.