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Fully Occupied Newburyport Industrial Sells to Private Buyer
Marcus & Millichap closed the sale of a 38,500-square-foot industrial facility in Newburyport, MA for $4,250,000. A Boston-based team of Harrison Klein, Mattias Edenkrans and Luigi Lessa marketed the property on behalf of the local seller and procured the buyer, a private investor.
“We had a robust market process for this asset with 10 qualified offers,” said Klein. “This is a testament to the quality of this industrial park, which has one of the lowest vacancy rates in New England.”
The property is located at 11 Malcolm Hoyt Dr., in the Newburyport Industrial Park, near the New Hampshire border. It is fully occupied by Journeyman Press, a commercial printing, marketing and mail house servicing various industries. Built in 1986 and later expanded, the building features drive in loading and ample parking.
- ◦Sale/Acquisition