Marcus & Millichap Close Sale of Billerica Industrial After Multiple Offers

Marcus & Millichap closed the sale of 400 Iron Horse Park, an industrial property in Billerica, MA. The sale price was $4.45 million.

“This was a competitive marketing process with multiple offers. The eventual buyer was able to close quickly with minimal contingencies,” said Harrison Klein, managing director investments in Marcus & Millichap’s Boston office. “This sale reinforces the need by users for affordable industrial space throughout New England.”

Klein, Luigi Lessa and Mattias Edenkrans of Marcus & Millichap marketed the property on behalf of the seller. Klein and Lessa, in association with David Skinner and Prescott IOS, procured the buyer.

The 219,164-square-foot property was built in 1913 and includes two manufacturing buildings. The buildings have 185,000 square feet of ground-floor and 34,164 square feet of mezzanine space. It is occupied by a single manufacturer and features three loading docks and eight drive-in doors. The property sits on a 41.7-acre parcel, with 13 usable acres.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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