BOSTON– Colliers International Boston announced that it has facilitated the sale of the Eventide Home campus at 215 Adams Street in Quincy, Mass. for $3.7 million.
Colliers advised the board of The William B. Rice Eventide Home on the sale of the 43,000-square-foot property. The landmark two-story brick building consists of 60 independent and skilled-nursing beds, situated on a 6.5 acre site. Located adjacent to the Adams National Historic Park site in Quincy, the Eventide Home property features a private, bucolic, arboretum-style environment with an outstanding classic federalist design style building.
“The Eventide Home property is one of Greater Boston’s most distinguished institutional campus properties,” said Colliers’ Senior Vice President Robert E. Cronin. “The site has been well maintained, and offers terrific redevelopment potential for the new owner.”
The buyer of the property, O’Connell Development of Quincy, plans to “reposition” the property into 58 senior-housing residential rental units. Former facility residents have been relocated to a new Eventide Home/Rogerson Communities-sponsored senior housing retirement community, “Faring Way,” located at the Southfield/Union Point Community in South Weymouth, Mass.
Colliers’ Senior Vice President Robert E. Cronin represented both the seller and buyer in this transaction. O’Connell Development Principal Peter O’Connell negotiated the site acquisition on behalf of the O’Connell organization.