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.