Acre Family Child Care, Lowell, MA

Situation

The property owner contacted Bell Tower Commercial Real Estate Group to list the former St. Peter’s Rectory at 327 Gorham Street in Lowell, MA. Commercial real estate broker Vlad Saldana listed the property for lease. One day as Saldana had just completed showing the property, he received a call from a friend, a board member of Acre Family Child Care. The board member shared that Acre Family Child Care was looking to find a new home and had identified St. Peter’s Rectory as a property they were interested in. They were currently renting and wanted to purchase a building and this property met many of their top criteria including being near the Acre neighborhood, accessibility to the community they serve and parking. Vlad explained that the property was not for sale, but available to lease. Vlad discussed with Bell Tower CRE Group’s client the option of selling the property instead of leasing. The owner was open to considering a sale for the right offer and the right use of the building.

Services Provided by Bell Tower CRE Group

With his client being open to selling the property, Saldana worked with the Co-Executive Director of Acre Family Child Care, Zelma Khadar, to present their offer for the property. Saldana handled all negotiations between the two parties and the property was sold to Acre Family Child Care. Prior to moving, the directors wanted to update the building to suit their needs and hired Bell Tower CRE Group to project manage the renovations. Saldana was the project manager, which started with identifying and selecting an architect and general contractor via an RFP process. From start to finish, Saldana managed and coordinated all facets of the renovation from the schedule and budget to coordinating with all involved including interior designers, furniture suppliers and telecommunications providers.

Delivering Value

A phone call from a friend enabled Vlad Saldana of Bell Tower Commercial Real Estate Group to help the board and directors achieve their vision and continue their mission. While Bell Tower CRE Group’s client’s initial intent was to lease the property, he was happy with the offer to purchase and thrilled to know that the building would be used to serve the Acre neighborhood for years to come. The renovated new home of Acre Family Child Care enables them to continue to serve Lowell with early, affordable, quality childhood education services as they have been doing since 1988.