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Owner-Occupant Acquires North Andover Industrial
Marcus & Millichap closed the sale of a 30,855-square-foot flex/industrial building located at 45 Beechwood Dr. in North Andover, MA for $4,850,000. Mattias Edenkrans, Harrison Klein and Luigi Lessa, investment specialists in Marcus & Millichap’s Boston office, marketed the property on behalf of the seller, a private investor, and procured the buyer, a privately held owner-occupant.
“This transaction highlights the strength of owner-users in today’s market,” said Edenkrans. “This deal generated strong interest from investor groups and business owners alike and ultimately sold to a local company, which plans to expand its growing operation into this property.”
Built in 1997, the building features 11,500 square feet of office space and 19,355 square feet of warehouse space, with two loading docks, one drive-in bay and 14-foot clear heights. The property is situated on a 5.01-acre lot with ample parking and is partially leased to Tower Engineering Professionals.
- ◦Sale/Acquisition
