Tenant and Site Acquisition Services
Summit Realty Partners counsels clients on all phases of site acquisition. Our services
include strategic planning and assemblage, zoning, demographic and location consultation,
comparative financial analysis, negotiation, build-out and post-occupancy services.
Our multi-disciplined approach in evaluating possible locations allows us to secure
sites at the best possible terms for our clients.
When an acquisition entails development or redevelopment of an existing space or
property our primary objective is to ensure quality, by reducing risk and controlling
costs throughout the development process beginning with site evaluation and ending
with project completion. Our team defines goals and projects future needs through
a comprehensive, custom, designed program that includes permitting, supervision
of architects and contractors, and the control of project costs through each phase
of planning, design and construction.
Our specialization in these areas of real estate coupled with our research tools,
network contacts and other support professionals, represents the unique capability
of our company.
1 Hoyt Street, Dorchester, MA
Situated on 3+ acres of land, One Hoyt Street lies strategically at the intersection of Dorchester Avenue and Freeport Street and is visible from the Southeast Expressway (Interstate 93). This site was previously occupied by a 70,000 SF industrial building which operated a 24-hour a day commercial laundry facility. Summit Realty Partners negotiated on behalf of Michael's Realty Trust to acquire this property for $3.2 million.
Hoyt Street presented interesting challenges over a two year period. The long term lease was held by the St. Louis based Angelica Corporation (the second largest commercial cleaner in the U.S.) and was purchased from the property owner HLA, Inc, (an entity created by a consortium of the major Boston hospitals). In addition to negotiating Hoyt Street’s acquisition, Summit Realty Partners added value during the due diligence period through coordination and analysis of environmental determinations, gaining zoning approvals, conducting traffic analyses, and a coordinating neighborhood concerns and outreach.
182 Cambridge Street, Burlington, MA
Summit Realty Partners worked on behalf of a strong family trust to flip the 182 Cambridge Street plaza to Shaw’s Supermarkets in 2002. Summit provided value to the buyer by negotiating the acquisition, coordinating environmental reviews and determinations, obtaining zoning approvals, conducting traffic analysis as well as coordinating and reaching out to neighborhood concerns.
182 Cambridge Street was reconstructed by Shaw’s Supermarkets including developing a new retail location for the family trust to continue to operate its business for a long leasehold term at very favorable rental rate.
125 Auburn Street, Portland, ME
In 2005-2006, Winslow Property Management and Summit Realty Partners negotiated a deal with the Boy Scouts of America to purchase 125 Auburn Street on behalf of its client, who owns the neighboring property, Northgate Plaza. Since this time, Summit and Winslow has preserved this location as a strategic piece for redeveloping Northgate Plaza by moving CVS out of the middle of the center and in to an end-cap location with a pharmacy drive-thru.
As part of the overall strategy, Winslow and Summit has beautifully renovated 125 Auburn Street and relocated H&R Block from the plaza in to this highly visible and attractive building in the heart of the affluent North Deering section of Portland.
