June 27, 2011 – Eric O’Brien, president of Marlborough based O’Brien Commercial Properties Inc., (OCP) states in their summer newsletter that sales have been strong and OCP has outperformed the market, closing 10 commercial/industrial real estate sales and 15 leases by end May 2011.
This represents over 300,000 sq. ft. of floor space in the central route I-495 corridor. OCP currently has at least four additional buildings under agreement to sell at this time and several opyhers in negotiations.
In Marlborough sales include 72 Cedar Hill Street (20,000 sq. ft.) and leases 289 Elm Street (25,000 sq. ft.)
Paul Mulroy, senior associate at OCP reports that “Massachusetts is on the nation’s short list of states showing improvement in the commercial real estate market. This is due to companies’ cash positions, acquisition power and lower than average unemployment.”