Neighbor News
Bowes Real Estate Brokers Sale of Premier Belmont Property
Steve McKenna and Erika Pereira of Bowes Real Estate brokered the sale between Manzelli Properties and Tellier Properties.
April 3, 2015 (BELMONT, Mass.) -Steve McKenna & Bowes Real Estate is pleased to announce the sale of 375 & 385 Concord Avenue, Belmont. These two, multi-tenanted office buildings located in Belmont Center have been owned by the Manzelli Family for more than five decades and the properties were purchased by Tellier Properties of Belmont. Steve McKenna & Erika Pereira of Bowes Real Estate brokered the sale between Manzelli Properties and Tellier Properties at the sale price of $8,925,000.00.
Joseph Tellier and his son Scott were extremely happy to acquire the buildings and add them to their portfolio of properties in Belmont and surrounding towns. The acquisition solidifies the long-standing legacy and relationship the Tellier Family has in Belmont, and substantiates them as one of the premier commercial property owners in Belmont. The Tellier Family has been part of the Belmont community since the early 1900’s and believe these properties will become the anchor of their commercial portfolio.
Attorney George Christodoulo represented Manzelli Properties and stated this was a good relationship from the beginning. Tellier Properties have a similar philosophy on how they maintain their properties and embody a strong relationship with all the tenants. Grace Donnelly, President of Manzelli Properties, managed the buildings for more than four decades and was a key element in the care of and quality of these buildings. The strength of the tenants and the quality of the buildings made this the perfect opportunity for Tellier Properties.
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Steve McKenna & Erika Pereira of Bowes Real Estate brokered the sale between the parties and stated the process was very smooth, with both parties maintaining the highest respect for one another. Steve McKenna has represented Manzelli Properties for years with the leasing of office space at 375 & 385 Concord Avenue which consists of approximately 58,710 gross square feet of office space with 185 total parking spaces and approximately 72,213 square feet of land.
