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23 Elm Street Trust Properties - SOLD

Godino & Company, Inc. Sold 21-29 Elm Street to a developer building an 80,000sf  office lab project across from Arsenal Yards. Tom Godino and Susan Godino-Ellis of Godino & Co. represented the Seller, and the Buyer, Elm Street Partners LLC. Andy Mann of Elm Street Partners LLC, one of their managing partners, represented the Buyer. The property is located near the Arsenal and Elm Streets intersection in East Watertown. Additionally, the property is situated next to a Marriott Residence Inn, across Elm St. from the Watertown Mall (anchored by Target, Best Buys & the Registry of Motor Vehicles), and across Arsenal Street from Arsenal Yards.

Andy Mann of Elm Street Partners commented, "despite the ongoing turmoil in the real estate and credit markets, we are well-positioned to maintain this asset to the satisfaction of our investors." Envision Bank, headquartered in Randolph, MA, provided the financing for the buyer. 23 Elm Street had one vacancy. Godino & Company acted as the leasing agent for the available office, flex and storage space at the property.

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