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Citizens Bank Property Sold for $4.1M in Brookline

A Citizens Bank branch property in Brookline’s Coolidge Corner has been sold for $4.1 million by The Grossman Cos.

Quincy-based Grossman Cos. acquired the quarter-acre property including a 3,000-square-foot bank building and 14 parking spaces for $2.275 million in 2013.

The buyer, Oak Hill Properties LLC of Boston, was represented by NAI Hunneman’s David Ross. Michael O’Mara of Atlantic Retail Properties represented Grossman Cos.

“When we bought the property in 2013 for $2.275 million, we viewed it as part of our long-term ‘Main Street’ portfolio in well-located affluent communities. But our strategy changed as the capital markets heated up and we realized that we could deploy the capital into other opportunities with more near-term growth potential,” Co-President Jake Grossman said in a statement.

B&T Daily