New owners are an affiliate of the Bulfinch Companies, Inc.
WALTHAM, Mass. - July 27, 2011 – The Massachusetts Association of REALTORS® (MAR) announced today that it has closed on the sale of its Waltham, Mass. headquarters at 256 Second Avenue to an affiliate of the Bulfinch Companies, Inc. The transaction was exclusively handled by Gary Holmes, Charles Detwiller and Arthur Amadei of R.W. Holmes, REALTORS® of Wayland.
“We are very pleased with the sale and anticipate great opportunities in this market to relocate our headquarters,” said 2011 Massachusetts Association of REALTORS® President Laurie Cadigan, broker-owner of Barrett & Company in Concord. “Effectively, we are taking our own advice: Now is a great time to sell and buy.”
Bulfinch CEO, Eric Schlager, stated, “We are pleased to add 256 Second Avenue to the Bulfinch portfolio and we look forward to redeveloping this exceptional property on Route 128.”
The MAR plans to remain in the Waltham property for several months, while looking for new offices which better meet the organization’s needs.
“Nearly two years ago, we decided that it was time to find larger headquarters for the greatly-expanded services that we provide to our 19,000 members across Massachusetts”, said MAR’s Chief Executive Officer Robert Authier. “We need larger classroom and parking space for member programs, as well as office space more conducive to our staffing needs. We intend to remain geographically-accessible to our members.”
About the Massachusetts Association of REALTORS®:
Organized in 1924, the Massachusetts Association of REALTORS® is a professional trade organization with more than 19,000 members. The term REALTOR® is registered as the exclusive designation of members of the National Association of REALTORS® who subscribe to a strict code of ethics and enjoy continuing education programs.
Editors and reporters: Please note that the term Realtor is properly spelled with an initial capital.