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Boston & New England  + New England  + Industrial  | 
91 Glenn Street in Lawrence, MA

ABG Commercial Brokers $16M Sale of Lawrence, MA Industrial Property

Oliver Street Capital, in a joint venture with an institutional capital partner, has acquired a 90,692-square-foot warehouse/distribution center located in the Lawrence Industrial Park in Lawrence, MA for $15.7 million. The Class B property is about 30 miles from Boston and fully leased.

The off-market deal was brokered by Bernard Gibbons of Cambridge-based ABG Commercial Realty, which represented the seller, 91 Glenn St., LLC, and procured the buyer in the transaction.

“As ecommerce and life science development in Greater Boston continues to push warehouse and manufacturing further out from the urban core and deeper into the suburbs, there’s an increased demand from a broad range of investors for high-quality industrial assets like 91 Glenn Street,” said Gibbons. “The seller was able to achieve nearly $175 per-square-foot for this property, which drew attention from several institutional investors.”

The property across the street from the asset, a 208,000-square-foot warehouse/distribution center, sold in November 2021 for $37 million.

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Inside The Story

Associated Brokerage Group’s Gibbons

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition