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14789480
14789447

225 Park Ave, West Springfield, MA 01089

PB
MA 9575704, CT REB.0793882
Pioneer CRE
Listed by Pioneer CRE
$2,100,000
857 days on market
Updated 61 days ago
Opportunity zone

Park Tower Complex

Details
Property Type Retail, Office
Sub Type Bank, Traditional Office
Square Footage 23,554
Net Rentable (SqFt) 23,554
Occupancy 14%
Tenancy Multi
Brand/Tenant KeyBank
Lease Type NNN
Price per SqFt $89
Broker Co-Op Yes
Year Built 1974
Buildings 2
Stories 5
Acreage 1.290
Zoning BA-1
Parking Spaces 71 spaces
Parking Per SqFt 3.01
Investment Type Sale/Leaseback
Sale Condition Sale for leaseback

4 Parcels/2 Buildings with Partial Leaseback to Bank & Lease w/ Nat'l Trade Organization | 23,554 SF

Marketing description

Presenting a unique investment opportunity in downtown West Springfield. The Park Tower site is a prime commercial real estate package available for sale, with a leaseback of a portion of the site to KeyBank. This offering includes two distinct buildings, a prominent 5-story office tower, and a single-story office building, spread across four parcels.

Park Tower (225 Park Ave.) features multiple floors of luxurious office space, along with a two-lane drive-through/ATM. KeyBank will lease back their existing first floor branch, which was recently renovated, as well as a small portion of the 3rd floor. The local chapter of a national trade organization recently signed a lease for the fourth floor.

Adjacent to the tower is a vacant, single-story office or possible retail building (229 Park Ave.). This building provides flexibility to accommodate a range of business operations.

Strategically located on a corner lot, this package benefits from a high-traffic area, ensuring visibility and accessibility for both clients and employees. The site is minutes from downtown Springfield, the Riverdale St./Rt. 5 retail corridor, the popular Eastern States Exposition fairgrounds/Big E, and all area highways including the MA Pike.

With an attractive leaseback to a national tenant, a large existing tenant, and the inclusion of four separate parcels, this diversified opportunity provides a stable source of income for the new owner while allowing for ongoing leasing of vacant spaces or redevelopment.

Investment highlights

  • Four separate parcels included (217, 225, 229, and 241 Park Ave.)

  • Corner lot at signalized intersection

  • Near city hall and municipal buildings

  • Close to The Eastern States Expo, the largest agricultural event on the eastern seaboard and the 5th largest fair in the US

  • Close to downtown Springfield and area highways

  • Ample parking

  • Sale/leaseback to national bank

  • Existing fourth floor tenant (local chapter of national trade organization)

  • Elevator in tower

Listing Contacts

PB
MA 9575704, CT REB.0793882
Pioneer CRE
Listed by Pioneer CRE

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Additional Information

Name
Paul Bongiorni
License
9575704
Title
Real Estate Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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