The Abrams Group Sells Lawrence Office Building
The Abrams Group, A Boston-based real estate development and investment firm, has sold 170 Common St. in Lawrence to Heritage Park Management for $1.05 million.
The three-story, brick building, within walking distance of the compact, industrially planned downtown, is home to several legal, high-tech and financial companies in addition to Cafe Azteca, an authentic Mexican restaurant, on the ground floor.
“The sale is in keeping with our strategy of adding value to properties through aggressive management and marketing, and repositioning them for sale to realize the maximum return to our investors,” said Matthew Abrams, president. “In this case, we performed a cosmetic rehab of the building and were able to reduce expenses while increasing revenue through our professional, well-tested management program.”
The Abrams Group (http://www.theabramsgroup.com) specializes in the acquisition and development of multi-family and commercial properties in Eastern Massachusetts. Its other projects include 136 loft-style apartments in Lowell, 95 loft-style condominiums under construction in Worcester, plus office buildings in Lawrence and Lowell and luxury condominiums in Boston and Brookline.