777 North Shore Road
Update
04/30/17
Alterra Property Group acquires 9.4 acres on Route 1A in Revere for $6.25 million
Alterra Property Group of Philadelphia, PA has acquired a 9.4-acre property on Route 1 in Revere for $6.25 million. A 31,950 square foot office and warehouse building formerly home to Revere Rent-A-Tool, which closed this past February after over 60 years in Business, stands on the parcel. The parcel’s seller is Stephen Williams, owner of Revere Rent-A-Tool.
The sale amounts to $664,893.62 per acre, and $195.62 per building square foot. Eastern Bank provided $5 million of mortgage financing for Alterra’s acquisition. Since its' founding in 2005, Alterra has acquired and developed over 3 million square feet of real estate, including over 1,500 residences and a number of commercial and industrial buildings.
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