Mixed-use bank property in Somerville trades for $3 million, Marcus says
1 West Main St. in Somerville — Courtesy: Marcus & Millichap
By Joshua Burd
An investor has paid $3 million for a corner bank property in downtown Somerville, under a newly announced transaction by Marcus & Millichap.
Brokers say the building, located at 1 West Main St., is a mixed-use structure comprising 11,350 square feet. Marcus & Millichap investment specialists Alan Cafiero, Brent Hyldahl and Ben Sgambati represented both parties in the deal.
“The property is highly desirable due to its corner location at the signalized intersection of West Main and Bridge Street in downtown Somerville,” Hyldahl said. “We had multiple offers right out of the gate and due to the competitive bidding environment closed at $263,000 over list price.”
