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