In its first acquisition in Boston’s Newmarket neighborhood, Boston-based Winhall Cos. has acquired a recently renovated brick-and-beam office building at 114-125 Gerard St. for $8.85 million.
Marketed under the name 67 Kemble, the 56,000-square-foot former mill building was redeveloped by Urban Core Development from 2014 to 2016 into dozens of office suites. Urban Core paid $1.3 million for the property in October 2013.
Located a 10-minute walk from the Newmarket station on the MBTA commuter rail, the property is part of an emerging transit-oriented cluster, said Ben Sayles, a director with HFF, which brokered the transaction.
Country Bank for Savings provided $4.8 million in acquisition financing.