MEDFORD, MA – Atlantic Retail announced the sale of the former Century Bank Headquarters in Medford, MA to The Herb Chambers Companies. The property was sold for $20,500,000.
Located at 400 Mystic Avenue, the property sits on 4.87 acres and comprises 89,000 SF across two buildings.
“We have been active in Boston’s urban fringe for the Chambers team over the past several years. The former Century Bank HQ building is a large tract, a functional modern building, and a beacon off I-93. Mr. Chambers’ ability to move quickly and decisively was paramount in securing the off-market purchase of 400 Mystic Ave,” said Peter Considine, Partner at Atlantic Retail, who represented Herb Chambers.
Scott Carpenter of JLL represented the Eastern Bank.
The Herb Chambers Companies was started in New London, Connecticut in 1985 and has since grown to 60 automotive dealerships throughout Southern New England, primarily in the Greater Boston area and Rhode Island.
Atlantic Retail is a privately held brokerage and advisory firm with a track record of successful representation of the nation’s top retailers and landlords spanning more than 30 years.