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Acton Industrial Trades Above Asking Price
Marcus & Millichap said Monday it had sold a 76,251-square-foot industrial and office property at 930 Main St. in Acton, MA, a northwest suburb of Boston. The asset sold for $5,775,000.
“When we first approached the seller, he had an offer that was more than 30% below where we ultimately closed,” said Luigi Lessa, director investments in Marcus & Millichap’s Boston office. “We advised bringing the property to market, and within the first two weeks we conducted over a dozen tours, generated multiple offers and created enough competition to push the final price $275,000 over asking.”
Lessa, along with Marcus & Millichap’s Harrison Klein and Mattias Edenkrans, represented the seller and procured the buyer. “This sale is indicative of the interest we are seeing in well-located properties serving smaller tenants,” Klein said. “These properties continue to outperform as they remain unaffected by the glut of ‘big box’ warehouse space in New England.”
