SOUTH WINDSOR, CT February 12, 2023
Real Estate Advisory Group NE (REAG NE) recently represented both seller and buyer in the transfer of the property situated at 199-205 Adams Street in Manchester, CT. The buyer, Eastern Waterproofing, has acquired the property with the intention of utilizing it partially as the new headquarters of their rapidly growing business. REAG NE negotiated pricing, assisted seller and buyer navigate through all aspects of the due diligence process, and structured a mutually beneficial transaction between the parties.
Eastern waterproofing primarily provides interior and exterior drainage solutions, but also offers concrete installation and repair, pipe laying service, including water and sewer. “Coming out of the pandemic and a year of above average rainfall, we found ourselves in need of more help and more room for the day-to-day operations, and the back piece of 199 Adams Street was a perfect fit for us. Daniel Rosow and Teo Rotaru at REAG were great and helped us get into the building. Even when conventional financing initially balked at the purchase, they were able to get the deal done. True professionals, very responsive and local!” says owner, Jonathan Piela.
The mixed-use property includes a commercial building with a two-story office building and a warehouse component as well as a 2-family residential home. Situated on a very busy street in Manchester, the property is perfect for the Eastern Waterproofing’s business operations, as well as investment income producing property. The business will operate in the warehouse area of the property. Jonathan Piela further contracted with REAG NE for the leasing of the front office space. Recently a lease was negotiated and executed for the entire space and REAGNE helped with the town approval process for the new tenant at the location.
Real Estate Advisory Group NE is a commercial real estate brokerage, investment, consulting, and management company located in South Windsor, CT. The firm has a combined experience spanning 35 years across 15 states, and over 80 transactions valued in excess of $250M. REAG NE buys, sells, and leases commercial, retail and industrial buildings, and currently manages over 600,000 sq. ft. throughout the northeast. They specialize in repositioning under-performing or distressed assets into thriving successful ventures for investors, tenants, and their communities. If your business is looking for expert guidance, new locations, management of your commercial properties, or answers to any real estate questions, please call Dan Rosow, Teo Rotaru, or Belinda Sadiku at 860-305-7466 for creative solutions. www.reagne.com
