Dorchester, MA

Situated on over three acres of land One Hoyt Street lies strategically at the intersection of Dorchester Avenue and Freeport Street visible from the Southeast Expressway (Interstate 93). The site was previously occupied by a 70,000 square foot industrial building which housed a 24 hour a day commercial laundry facility. Summit Realty Partners negotiated on behalf of Michael's Realty Trust in the acquisition of this property for $3,200,000.

The site presented interesting challenges over a two year period. The long term lease held by the St. Louis based Angelica Corporation (the second largest commercial cleaner in the U.S.) purchased the business from the property owner HLA, Inc, (an entity created by a consortium of the major Boston hospitals). In addition to negotiating the acquisition, Summit Realty Partners added value during the due diligence period which included coordination and analysis of environmental determinations, gaining zoning approvals, traffic analysis, and a coordination of neighborhood concerns and outreach.

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