The Grossman Companies

Headquartered in Quincy, MA, The Grossman Companies is a family-owned real estate firm with local roots dating back over 120 years. Our services span acquisitions, private lending, property management and brokerage.

We own and manage an approximate 2.5 million square foot portfolio of commercial and residential properties concentrated in New England. In addition to investing in properties, we invest in long-term relationships with trusted lenders, brokers, tenants and investors.

Acquisitions

The Grossman Companies invests in retail, office, industrial, residential, land and self-storage properties throughout New England. We specialize in transforming underleased buildings into aesthetically pleasing, thriving spaces. While we mainly target value-added opportunities, we also acquire core properties and opportunistic investments.

Private Lending

First Boston Capital Partners, an affiliate of The Grossman Companies, extends private loans to builders, developers and real estate investors in Massachusetts, New Hampshire, Rhode Island and Connecticut. We provide short-term bridge capital for acquisitions, ground-up construction or renovations secured by non-owner-occupied residential or commercial properties.

Brokerage

The Grossman Companies has over 35 years of experience working with both tenants and landlords in commercial real estate leasing and sales. We understand both sides of a deal — and apply our expertise to help you make the right decision when the stakes are highest.

Property Management

Our Property Management team oversees day-to-day operations of all our portfolio properties. We also offer these services to third-party landlord clients throughout Southern New England. Our staff manages everything from cleaning and landscaping to any emergencies that may arise.

Current News

THE GROSSMAN COMPANIES, INC. ACQUIRES MARKETPLACE CENTER IN WARWICK, RI

THE GROSSMAN COMPANIES, INC. …

June 2015
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THE GROSSMAN COMPANIES, INC. ACQUIRES MARKETPLACE CENTER IN WARWICK, RI

Anchor Tenants at Premier Property Are LA Fitness and Michael’s

BOSTON, MA & WARWICK, RI — Two recent side-by-side commercial property deals illustrate the long-term opportunistic investment strategy of The Grossman Companies, Inc., of Quincy, Mass.

In a strategic move designed to upgrade its commercial real estate holdings while diminishing risk, in May, an affiliate of The Grossman Companies sold a 24,360 square-foot retail plaza at 1400 Bald Hill Road in Warwick, Rhode Island and on June 26 acquired the adjacent 1500 Bald Hill Road plaza known as Marketplace Center. 1400 Bald Hill Road was sold for $4.35 million. Mike D’Hemecourt, Managing Director and Senior Partner of Boston Realty Advisors, procured the buyer.

Making the sale and acquisition announcement was Jake Grossman, Co-President of The Grossman Companies. He said, “The acquisition of 1500 Bald Hill Road provided us with an opportunity to upgrade the quality of real estate, tenancy and cash flow that we own in Warwick. The two anchor tenants, LA Fitness and Michael’s together account for more than 85% of the leasable space with meaningful lease terms remaining. This acquisition is in line with our goal of reducing asset level risk in new investments. Just 3,440 square feet of retail space remains vacant. This stable acquisition comes on the heels of the firm’s acquisition of a 366 unit self-storage facility in Boston, MA, in March.

Located near the midpoint of Rhode Island’s most robust retail corridor, 1500 Bald Hill Road enjoys easy access to Routes I-95 and I-295. Lender for the purchase of 1500 Bald Hill Road is HarborOne Bank, which was procured by debt experts Kyle R. Juszczyszyn and Chris Coutts of CBRE Capital Markets. The investment sale brokers who represented the seller of 1500 Bald Hill Road were Rob Griffin, Jr., Geoff Millerd, and Justin Smith of Cushman & Wakefield.

The Grossman Companies has a long history in Rhode Island, beginning with many stores in the family’s lumber and building materials chain that pioneered the do-it-yourself philosophy until the mid-20th century. During the 1970’s, the company transformed into a commercial real estate firm whose Rhode Island portfolio includes the Kingstown Plaza and Millcreek Townhouses, both in North Kingstown, RI. In addition to commercial property deals in Massachusetts, the company has expanded its reach to office, retail and industrial properties in Connecticut.

Leasing for Marketplace Center is being handled by Atlantic Retail Properties. For leasing information, contact Ben Starr. For more information about The Grossman Companies, Inc., contact jake@grossmanco.com / (617) 472-2000 / www.grossmanco.com .

McKINNON LEASES TO KONIKA MINOLTA AT TEN99 BUILDING IN HINGHAM, MASS.

McKINNON LEASES TO KONIKA …

September 2013
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McKINNON LEASES TO KONIKA MINOLTA AT TEN99 BUILDING IN HINGHAM, MASS.

Long-Term Lease Adds to Property's Prestigious Tenant Roster

QUINCY, MASS. – Konika Minolta recently signed a long-term lease for 3,738 square feet at this first-class office building.

Konika Minolta recently signed a long-term lease for 3,738 square feet at this first-class office building.

Making the announcement was Richard McKinnon, Director of Brokerage Services at The Grossman Companies, who represented the Landlord, Rockland Haverstraw LLC. Konika Minolta was represented by Peter Whoriskey, Senior Associate at Cushman & Wakefield.

Ten99 Hingham Street is also home to offices of UBS Financial Services, a top tier investment banking and securities firm; financial services industry advisor Cutter Associates; NTT Data, a division of one of Japan’s largest telecommunications companies; and The Great American Insurance Company (GAIC), a subsidiary of American Financial Group.

McKinnon says only 14,871 square feet are available in the 60,000 square-foot building. He says there are several draws for prestigious firms at Ten99 Hingham Street: the location at the junction of Rtes. 3 and 228, recent common-area improvements, first-class downtown-style space in a suburban setting, ample free parking, and management provided by The Grossman Companies, Inc.

The Grossman Companies, Inc., offers a full range of brokerage services, with a focus on sales and leasing of commercial property throughout New England. For more information and/or to arrange a site visit, contact Richard McKinnon at 617-472-2000.

GROSSMAN COS. ACQUIRES 429 HARVARD STREET PROPERTY IN HEART OF BROOKLINE

GROSSMAN COS. ACQUIRES 429 …

August 2013
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GROSSMAN COS. ACQUIRES 429 HARVARD STREET PROPERTY IN HEART OF BROOKLINE

$2.275 Million Purchase Is In Keeping with its Diversified Investment Strategy

BROOKLINE, MASS. – The Grossman Companies, Inc., the commercial real estate investment, management and brokerage firm based in Quincy, Mass., has added to its Greater Boston portfolio with the purchase of the property at 429 Harvard Street in the heart of the Coolidge Corner section of Brookline, MA with its partner, the Kara Family. Purchase price was $2.275 million and Cambridge Savings Bank financed the acquisition.

The building is the long-time home to one of Citizens Bank’s busiest branches. The property consists of a 3,000 square-foot retail building on a quarter acre that includes 14 parking spaces.

Jake Grossman, who oversaw the acquisition, said the most recent purchase fits the family-owned company’s investment strategy, where it pursues a variety of property type, with varying levels of risk and investment time horizon. This building, in an a location, is an excellent addition to what we call our Main Street portfolio which includes long-time owned assets in Newton, downtown Wellesley, Brookline and downtown Hingham. 429 Harvard Street is near the midpoint between Beacon St. and Commonwealth Ave.

Grossman noted various factors that attracted the firm to the deal, notably the location in the heart of one of Greater Boston’s most affluent and desirable retail corridors, long-term tenancy, and exclusive parking which is unique for the area. The Grossman Companies has dramatically increased its acquisition activities over the last 36 months, having acquired approximately 750,000 square feet of office, retail, and industrial property across New England.

The Grossman Companies, which has business roots on the South Shore dating to 1895, continues to pursue investment opportunities within three hours of their Quincy offices, according to Jake Grossman. For more information: jake@grossmanco.com / (617) 472-2000.

GROSSMAN COMPANIES AFFILIATE BUYS 225,000 SF INDUSTRIAL BUILDING IN MANSFIELD, MASS., FOR $7.05 MILLION

GROSSMAN COMPANIES AFFILIATE BUYS …

July 2013
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GROSSMAN COMPANIES AFFILIATE BUYS 225,000 SF INDUSTRIAL BUILDING IN MANSFIELD, MASS., FOR $7.05 MILLION

Near Junction of I-495 and I-9, Midway Between Boston and Providence

QUINCY, MASS. – Affiliates of The Grossman Companies, Inc., the Quincy-based commercial real estate brokerage, development and management firm, have purchased a 225,000 square-foot industrial building at 60 Maple Street in Mansfield, Mass. The purchase price was $7.05 million, or $31 per square foot.

In making the announcement, Jake Grossman, who oversaw the acquisition for the family-owned business, said the Class B facility, set on 15 acres, is near the intersection of I-95 and I-495, about equidistant between Boston and Providence. He said the property, adjacent to the Cabot Industrial Park, is well located, functional and offers convenient rail access. The seller is Calare Properties, Inc., industrial property specialists based in Hudson, Mass., who Grossman commended as being great to deal with. Representing the buyer and seller in the transaction was Robert Gibson, Executive Vice President/Partner of CBRE / New England, who has been hired by Grossman to serve as Exclusive Leasing Agent. Brookline Savings Bank provided a $3.0 million acquisition loan for the buyer.

Grossman said the building is 70% leased by three tenants: DGS Retail, manufacturer of signage for many national retailers; Ameristar Fence Products, regional distribution center for one of the largest ornamental fence manufacturers in the world; and GF / Guardian Fall Protection, a major scaffolding supplier based in Washington state. Still available for lease at 60 Maple Street are 67,500 square feet. The building offers ample loading docks, outdoor storage space and 21 clear ceilings.

Grossman noted, This is an excellent addition to our portfolio and is consistent with our investment activities over the last three years, where we have purchased a mix of stable and value-added properties. We moved aggressively to pursue this acquisition once it was identified and it is a great complement to our existing holdings in New England. We are optimistic about our ability to increase the occupancy at the property and plan for this to be a long-term investment.
In the last several months, The Grossman Companies and its joint venture partners bought a 210,000 square-foot building in Killingly, CT; a 25,000 square-foot retail plaza in Warwick, RI; a 215,000 square-foot Class A office park in Danbury, CT; and the 27,500 square-foot former Borders Bookstore in Braintree, MA.

For 60 Maple Street leasing information, contact CBRE’s Bob Gibson at (617) 912-7072.

NEW BUSINESS WILL RELIEVE STRESS ON BUSY COMMONWEALTH AVE.

NEW BUSINESS WILL RELIEVE …

May 2013
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NEW BUSINESS WILL RELIEVE STRESS ON BUSY COMMONWEALTH AVE.

McKinnon of Grossman Cos. Leases 3,600 SF to Elements Therapeutic Massage

BOSTON, MASS. – Aiming to relieve stress for people who live, work and study in the area, Elements Therapeutic Massage has signed a lease for 3,600 square feet at 870 Commonwealth Ave. on the Brookline/Boston line.

The announcement was made by Richard McKinnon, Director of Brokerage Services at The Grossman Companies, who represented the Landlord, 860/870-872 Commonwealth Ave Trust. Representing the tenant was Hank Blake, Principal at Blake Commercial Property Group, LLC.

McKinnon said the Elements franchisee chose the location for its strong demographics, excellent visibility, heavy vehicle and pedestrian traffic, access to the MBTA Green Line, and proximity to Boston University. Nearby neighbors include the B. U. Residence Towers, John Hancock Student Village, and the Harry Agganis Sports Arena and Entertainment Complex.

Other tenants in the building include 7-Eleven, East Coast Alpine, Audio Concepts and Fenway Printing. The site was known for decades as home to The Ski Market.

Elements operates 136 locations across the U. S. that delivered over 400,000 massages last year. The company promotes health through regular massage therapy for relief from pain, release of tension and reduction of stress.

The Grossman Companies, Inc., offers a full range of brokerage services, with a focus on sales and leasing of commercial property throughout New England. For more information, contact Richard McKinnon at 617-472-2000.

MG FITNESS / MIKE'S GYM RENEWS 15,000 SF LEASE AT MEDFORD'S STOP & SHOP PLAZA

MG FITNESS / MIKE'S …

May 2013
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MG FITNESS / MIKE'S GYM RENEWS 15,000 SF LEASE AT MEDFORD'S STOP & SHOP PLAZA

McKinnon of Grossman Cos. Maintains Plaza at 100% Leased

MEDFORD, MASS. – MG Fitness / Mikes Gym, a full service health club located at 465 Salem St., in the Stop & Shop Plaza (formerly Foodmaster Plaza) near the junction of Salem St. (Route 60) and The Fellsway (Route 28), has renewed its 15,000 square-foot lease for five years.

The announcement was made by Exclusive Broker Richard McKinnon, Director of Brokerage Services for The Grossman Companies, Inc., of Quincy, who represented the Landlord (469-471 Salem Street Trust) and the Tenant in lease negotiations. The 81,000 square-foot plaza, which has been 100% leased for many years, is ideally situated. McKinnon said the area’s demographics are “a retailer’s dream,” noting that a quarter million people live within three miles of the property. Among other tenants are Stop & Shop, Family Dollar, Rite Aid, Alexander Liquors and a Bank of America ATM.

In addition to a large array of standard and state-of-the-art fitness equipment, MG Fitness (www.MGfitness.com) offers group classes and personal training. A second facility is located in Wakefield. The Grossman Companies, Inc., offers a full range of brokerage services, with a focus on sales and leasing of commercial property throughout New England. For more information, contact Richard McKinnon at 617-472-2000 or via email: richmck@grossmanco.com.

THE GROSSMAN COMPANIES ADDS TO ITS PRIVATE LENDING TEAM

THE GROSSMAN COMPANIES ADDS …

April 2013
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THE GROSSMAN COMPANIES ADDS TO ITS PRIVATE LENDING TEAM

Aims To Expand Its Real Estate Loan Portfolio

QUINCY, MASS. – Veteran real estate lender George Morrill of Sherborn, MA has recently joined The Grossman Companies, Inc. and is focusing on growing the real estate loan portfolio of First Boston Capital Partners (FBCP), which provides first and second mortgage financing as well as joint-venture equity to investors and developers in New England.

FBCP is the private lending affiliate of The Grossman Companies, Inc., the Quincy, Mass.-based commercial real estate investment, brokerage, development and management firm. FBCP’s private lending business has doubled origination volume in each of the last three years, having made approximately $60 million in loan commitments in that time.

Morrill’s primary responsibilities are to originate new lending opportunities and asset management of the company’s private loan portfolio. Morrill said, This is an exciting opportunity to join an established, well-capitalized company with tremendous growth ambitions. First Boston provides a platform to leverage my previous experiences and help real estate investors, developers, and home builders who need immediate funding for acquisitions or refinancing. My contacts will provide a flow of activity for new construction and rehabbing existing property for sale or lease. We can eliminate much of the bureaucracy and close transactions in as little as five days. The announcement of Morrill’s appointment was made by principal David Grossman who oversees loan origination and portfolio management for FBCP. He said, In recent years, as the economy dipped and bank credit dried up, we have filled a void in the capital markets and offer short-term bridge capital and creative alternatives to conventional bank loans, he noted.

Grossman said, The majority of our borrowers are homebuilders who need capital for renovations or ground-up construction. He added, George is an excellent addition to our team. He brings a wealth of hands-on experience, an entrepreneurial spirit, and a wide range of business, banking and real estate contacts that will be a tremendous asset as we grow the loan portfolio.

Morrill, who earned his BS degree from Cornell University and his MBA at the Babson College – Franklin W. Olin Graduate School of Business, has served as Asset Manager at Tremont Realty Capital; Director of Lending at Wellesley Capital Corporation; and Loan Acquisitions Officer at Capital Crossing Bank, among other financial industry positions. He has over 12 years of experience in the commercial real estate finance business, six of which were spent as a private lender. Grossman’s private lending business traces its roots back several generations to the early 1900′s when the family operated one of the first do-it-yourself building supplies and lumber businesses, which was sold in 1969. Providing construction loans to builders was a natural outgrowth of the building supply business, said Grossman.

Among FBCP’s loans in the past year include a $3.1 million construction loan for a mixed-use development in Mansfield, MA; a $975,000 acquisition and renovation loan for a condo conversion in South Boston, MA; and $660,000 construction loan for a speculative single-family home in Weston, MA.

First Boston Capital Partners focuses on financing projects of all product type in southern New England with loans ranging from $150,000 to $5 million. For more information: www.grossmanco.com/services; 617-472-2000 / George@grossmanco.com.