Savills Studley is pleased to announce that Boston Irrigation Supply Company (BISCO) sold 60 Stergis Way, a 20,000-square-foot flex asset located in Dedham, Massachusetts. The building is occupied by John Deere Landscapes, and was purchased for $2.2 million by local investor, Fulcrum Real Estate Partners of Needham, Massachusetts.
Steve Woodworth of Savills Studley’s Boston office represented BISCO; the buyer was unrepresented.
“We advised the client to take advantage of a net lease with an excellent credit tenant like John Deere Landscapes, to maximize the value of the property,” said Woodworth.
“Our team leveraged the building’s proximity to the extremely successful lifestyle center, Legacy Place, and the competitive market to achieve a twenty-five percent premium over the asset’s street value just three to four years ago.”
New England-based BISCO sold their business operations to John Deere Landscapes in late 2014 with the intention of selling the property into a very robust investment sales market in early/mid 2015.