Business & Tech
Westwood Legal Practice Buys Property for $1.1m
Parsons Commercial Group facilitated the $1,100,000 transaction with Thormor, Inc. for the property on Providence Highway.
The following is based on a press release sent to Westwood Patch by Parsons Commercial Group.
Parsons Commercial Group, Inc. announced Monday that it completed the sale of 355 Providence Hwy in Westwood on behalf of the owners, Thormor, Inc.
Rick Putprush, Managing Director, and Matthew Morgan, Associate represented the seller, Thormor, Inc. in the $1,100,000 transaction.
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“The new owners, a Westwood legal practice, who had previously leased space, were looking for the right opportunity to purchase a permanent home for their established practice,” Putprush, who introduced the buyer DS Realty Trust, said in a statement Monday.
The single story 7,762-SF property is located and highly visible on Providence Highway/Rte. 1.
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The sale was a complicated transaction, being subject to the seller completing a 1031 tax-deferred exchange on a new property to occupy, in order to be able to sell 355 Providence Highway.
“All the parties involved worked well together through closing especially considering the intricacies of the 1031 exchange,” Putprush stated.
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