Grubb & Ellis’ Capital Markets Group has been retained to act as the exclusive broker for the sale of 1116-1120 Hancock Street in Quincy, MA. The property is located within the South 128 Office Submarket adjacent to Route 93. The immediate market surrounding the property is made up of office and retail uses consistent with Quincy Center. The building consists of 18,886 square feet of class B office space and includes a generator and improvements to its electrical power supply system.

Located 10 miles south of the historic City of Boston on beautiful Massachusetts Bay, the Town of Quincy is described by the New York Times as “a walkable, urban place to live, work and play.” Due to its close proximity to Boston and diverse business sector, the area is popular among both residents and corporations alike. The town is on a main highway, Interstate 93, and has 27 miles of waterfront. Quincy’s MBTA Red Line subway stop is six stops from downtown Boston and 10 from Cambridge. Its 92,271 residents make the city the 8th largest in the state. Once almost exclusively known as a manufacturing and heavy industry center, Quincy is now home to an eclectic assortment of corporations such as Boston Financial Data Services, Stop & Shop, Arbella Mutual Insurance Company and The Patriot Ledger.

Queued developments in Quincy indicate that the best may be yet to come. The city has approved plans to raze most of its 50-acre center and replace it with $290 million in new infrastructure and $1.3 billion of new private housing, retail, offices, entertainment, hotels and parking. Private developer, Street-Works Development of White Plains New York, plans to start a 10-year construction project in 2012 that will bring 3.5 million square feet of new space: 1,200 rental and condominium apartments, 625,000 square feet of retail, two hotels and entertainment; 1.5 million square feet of offices for higher education, health care, professionals and businesses; and parking for 5,500 vehicles.