The Northampton Commercial Portfolio, a highly sought-after collection of generationally owned properties, quietly changed hands in one of the year’s most strategic real estate transactions. Situated in the prime commercial hub of Northampton, this portfolio offers a rare opportunity in Hampshire County’s thriving real estate market. The sale involved 11 parcels of prime land and 7 fully leased buildings, all located in one of Western Massachusetts’ most dynamic and high-traffic areas near Interstate 91.
Key Investment Highlights
- Sales Price – $9,375,000
- Strategic Location: Prime positioning between Interstate 91 and downtown Northampton, with high visibility.
- Parcel Count: 11 parcels across 6.833 acres, featuring 7 fully leased buildings.
- Zoning: CB-Gateway, allowing for dense residential redevelopment.
- Strong Tenant Base: Stable, long-term tenants like Fresenius Kidney Care, Daily Hampshire Gazette, and Webs Yarn ensure reliable cash flow.
Tailored Sales Approach and Confidential Process
This transaction wasn’t your typical “for sale” listing. The owners of the Northampton Commercial Portfolio turned to Jennings Real Estate (JRE) for a discreet and tailored sales approach. With the owners preferring to avoid traditional marketing, JRE developed a strategic plan that focused on targeted outreach to select buyers. We leveraged our extensive network to generate multiple offers, while ensuring the sale process remained confidential and met the owners’ specific requirements.
Why Northampton? A Perfect Blend of History and Growth
Northampton, known for its vibrant downtown, thriving economy, and proximity to Smith College, is a magnet for businesses, investors, and residents alike. The city’s strong cultural scene and educated workforce make it one of the most appealing locations in Hampshire County. The Northampton Commercial Portfolio benefits from its strategic location between Pleasant Street and Conz Street, two major access routes that see over 19,378 vehicles daily, making it a prime location for high visibility and sustained foot traffic.
With Western Massachusetts experiencing consistent economic growth, Northampton remains a key player in the region, providing excellent opportunities for real estate investors seeking long-term returns and value.
A Breakdown of the Northampton Portfolio
The Northampton Portfolio is a diverse collection of properties, each offering stability, reliable tenants, and well-maintained buildings. Here’s a snapshot of the key assets:
395 Pleasant Street:
- Building Size: 7,000 sq ft
- Type: Single-tenant medical office, leased to Integrative Medicine since 2003.
- Key Upgrades: Firestone TPO roof installed in 2016; HVAC system updated in 2015.
23 Service Center Road:
- Building Size: 10,836 sq ft
- Type: Multi-tenant office building, home to The Daily Hampshire Gazette and J.F. White Contracting.
- Key Upgrades: Regular roof and HVAC updates ensure a well-maintained space for tenants.
82 Conz Street:
- Building Size: 28,000 sq ft
- Type: Single-tenant retail/flex industrial building, leased to Webs Yarn since 1993.
- Key Upgrades: Major renovations in 2022, including roof and HVAC system upgrades.
84 Conz Street:
- Building Size: 7,400 sq ft
- Type: Multi-tenant office, with Fresenius Kidney Care and Nonotuck Resources as key tenants.
- Key Upgrades: A full roof replacement in 2020, and recent HVAC system improvements.
78 Conz Street (Rear):
- Building Size: 3,280 sq ft
- Type: Multi-tenant workshop and storage facility, featuring flexible month-to-month leases.
59 Service Center Road:
- Building Size: 9,930 sq ft
- Type: Multi-tenant commercial building, with Valley Fabrics and Northampton Rental Center as anchor tenants.
- Key Upgrades: Roof installed in 2004, with HVAC systems replaced over several years.
86 Conz Street:
- Building Type: Two-family residential home, offering month-to-month tenant flexibility.
403 Pleasant Street:
- Type: Ground-leased ATM site, leased to Easthampton Savings Bank, providing a consistent and stable revenue stream.
In addition to these properties, the portfolio also includes valuable land parcels used for outdoor storage and extra parking, which add versatility and further income potential.
Transaction Management: Navigating Complexity with Expertise
Throughout the sale process, JRE expertly guided both the buyer and seller, coordinating efforts with:
- Environmental consultants
- Appraisers
- Financial institutions
We ensured that all aspects of the deal aligned, resulting in a seamless and timely closing. Our meticulous approach kept the property sale moving smoothly while maintaining the highest level of professionalism and confidentiality.
Ongoing Involvement: Maximizing Future Value
Even after the successful closing, we remain involved with the buyer, offering strategic advice on:
- Current use and lease negotiations
- Redevelopment plans to further maximize the property’s future potential
This continued partnership ensures that the new owner can capitalize on both the stable rental income and redevelopment opportunities offered by the portfolio.
Contact Us
If you’re interested in exploring similar opportunities, or if you’d like to learn more about how Jennings Real Estate can assist you with your investment strategies, contact:
- Kevin Jennings | 413-731-7770 | kevin@jennings-re.com
- Jonathan Little | 413-731-7770 x102 | jonathan@jennings-re.com
Invest in Northampton’s growing market and capitalize on prime commercial real estate in the heart of Hampshire County