Full Article: http://bostonrealestatetimes.com/the-davis-companies-buys-2-12-acre-brighton-redevelopment-site-for-15-75-million/
BY BOSTON REAL ESTATE TIMES | JANUARY 25, 2018
BOSTON– Colliers International’s Investment Sales team recently announced that it has sold 1515 Commonwealth Avenue in Brighton on behalf of Curahealth/Nautic Partners. The property sold for $15.75-million to Boston-based developer, The Davis Companies.
The sale was led by Investment Sales leaders, Christopher Sower and Scott Dragos.
Formerly operating as a long-term acute care hospital, 1515 Commonwealth Avenue is a 2.12-acre redevelopment site in the booming Brighton neighborhood. Currently improved with a 58,000-SF, four-story building, 1515 Commonwealth Avenue provides ample opportunity for growth, based on density precedents set by nearby development projects. The property hosts immediate access to Downtown Boston via the MBTA Green Line and is proximate to nearby new development, Boston Landing.
Walking distance to well-established amenities of Coolidge Corner, Brighton Center and Allston, makes the site an incredibly appealing location to meet demand now being driven by Brighton’s multifamily boom.
“Based on the growth of the Allston-Brighton market, 1515 Commonwealth Ave received great interest across the market. We were pleased to work with The Davis Companies again on an opportunity of this caliber,” noted senior vice president Christopher Sower. “As a team, we are happy to have worked with Curahealth/Nautic Partners on the successful sale of this asset and look forward to working with both Davis and Curahealth/Nautic in the future,” added executive vice president Scott Dragos.
The Colliers Investment Sales team on the assignment included Scott Dragos, Chris Sower, and Doug Jacoby.