Medford Food Processing Facility Trades Amid Interest from Local and National Investors

Marcus & Millichap closed the sale of 93 Mystic Ave., an industrial property dedicated to food processing use in Medford, MA. The sale price was $5 million.

“This rare, core-located food processing facility drove interest from local, regional and national investment groups,” said Mattias Edenkrans, associate director investments in Marcus & Millichap’s Boston office. “With the sellers targeting a sale process free of development permitting, we identified a group that was able to provide immediate non-refundable deposits and close cash within 45 days of offer acceptance.”

Edenkrans and Luigi Lessa of Marcus & Millichap exclusively marketed the property on behalf of the seller, 93 Mystic LLC, and procured the buyer, a private family.

The 19,278-square-foot property sits on a 1.12-acre lot. Built in 1950 and 1955, it comprises two buildings, the main 14,278-square-foot building and a 5,000-square-foot auxiliary building. The property was delivered vacant and is currently designed for food processing with minimal office space.

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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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