Google Maps image of 368 and 340 Avenue D in Williston
Vermont Business Magazine Unsworth Properties, LLC and their select investors have closed on the acquisition of over 277,000 square feet of industrial/manufacturing real estate from REM Development. The $28.6 million transaction was a nearly year-long process that culminated in a closing on October 30, 2020.
REM Development Company, represented by Brad Worthen of Pomerleau Real Estate, began their process of identifying a purchaser in November of 2019.
The portfolio consists of 9 individual properties in Williston and Essex, Vermont. REM’s reputation for well cared-for buildings, and helping tenants successfully grow their businesses, will be continued by Unsworth Properties.
This huge undertaking was brought to fruition with help from attorneys Daly and Daly, PC, MSK Attorneys, and Fox Law PLLC, for the buyers, and Doremus, Kantor & Zullo, Attorneys, for the sellers.
Community Bank NA, represented by Patrick Calecas and Bruce Bernier, financed the transaction for Unsworth Properties.
Unsworth Properties would like to recognize the life, business success, and philanthropy of Robert “Bobby” Miller, who grew REM Development from the ground up. Mr Miller began the transaction with the Unsworths prior to his death in February 2020.
Mr. Miller’s children, Stephanie and Tim, finalized the transaction following their father’s passing.
The properties acquired are:
20/24 New England Drive, Essex
44-84 Miller Lane, Williston
296 Ave D, Williston
340 Ave D, Williston
368 Ave D, Williston
400 Ave D, Williston
446 Ave D, Williston
461 Ave D, Williston
552 Ave D, Williston
Located in Burlington, Unsworth Properties is a third generation Vermont family real estate company, which develops, acquires, and manages a portfolio of both commercial and residential rental properties.
Source: Unsworth Properties, LLC 11.2.2020. Burlington, Unsworthproperties.com