Bob Biniszkiewicz from Pyramid Brokerage Co., a Cushman & Wakefield Alliance member, brokered the sale of the Packard Building located on 1325 Main St. Regan Development who acquired the three-story, 70,000 s/f building for $1.2 million plans to redevelop the property into 40 apartments that will be marketed to subsidized tenants. This deal is Regan's first in the area.
Regan plans to invest $9.5 million into the project. The first floor will be used for commercial space. The development plan features one studio apartment, 11 one-bedroom units, 24 two-bedroom units and four three-bedroom units.
The project team includes: Resetarits Construction Corp. as the general contractor and Hamilton Houston & Lownie Architects LLC as the project architect. Tags: