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Park Tower

4 Properties Offered at £1,921,804 in West Springfield, MA

Investment Highlights

  • Four separate parcels included (217, 225, 229, and 241 Park Ave.)
  • Near city hall and municipal buildings
  • Close to downtown Springfield and area highways
  • Corner lot at signalized intersection
  • Close to The Eastern States Expo, the largest agricultural event on the eastern seaboard and the 5th largest fair in the US
  • Sale/leaseback to national bank

Executive Summary

Presenting a unique investment opportunity in downtown West Springfield. The Park Tower site is a prime commercial real estate package available for sale, with a leaseback of approximately 14% of the building area to KeyBank. This offering includes two distinct buildings, a prominent 5-story office tower, and a single-story office building, spread across four parcels.
Park Tower (225 Park Ave.) features multiple floors of readily available and luxurious office space, including a boardroom and several kitchens, along with a two-lane drive-through/ATM. KeyBank will lease back their existing first floor branch, which was recently renovated, as well as a small portion of the 3rd floor.
Adjacent to the tower is a vacant, single-story office or possible retail building (229 Park Ave.). This building provides flexibility to accommodate a range of business operations.
Strategically located on a corner lot, this package benefits from a high-traffic area, ensuring visibility and accessibility for both clients and employees. The site is minutes from downtown Springfield, the Riverdale St./Rt. 5 retail corridor, the popular Eastern States Exposition fairgrounds/Big E, and all area highways including the MA Pike.
With an attractive leaseback to a national tenant and the inclusion of four separate parcels, this diversified opportunity provides a stable source of income for the new owner while allowing for ongoing leasing of vacant spaces or redevelopment.

Property Facts

Price £1,921,804
Price / SF £78.39 / SF
Sale Conditions Sale & Leaseback
Sale Type Investment or Owner User
Status Active
Number of Properties 4
Individually For Sale 0
Total Building Size 24,516 SF
Total Land Area 1.29 AC

Properties

Property Name / Address Property Type Size Year Built Individual Price
225 Park St, West Springfield, MA 01089 Retail 18,632 SF 1974 -
229 Park Ave, West Springfield, MA 01089 Office 5,884 SF 1955 -
217 Park Ave, West Springfield, MA 01089 Land 0.22 AC - -
241 Park Ave, West Springfield, MA 01089 Land 0.19 AC - -
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  • Listing ID: 30817437

  • Date on Market: 30/01/2024

  • Last Updated:

  • Address: Park Tower, West Springfield, MA

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