Boston & New England CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
North Shore Industrial Sale Typifies Trend of Owner-User Buyers
Marcus & Millichap finalized the sale of 132-140 Linwood St., a three-building, 62,018-square-foot industrial property in Lynn, MA, for $4,631,500. The firm’s Harrison Klein, Luigi Lessa and Matias Edenkrans marketed the property on behalf of a local family that had owned the property for years and procured the buyer, an owner-occupant.
“By identifying an owner-user for this asset, we were able to maximize value,” said Klein. “We had multiple offers from investors for this core asset; however, they simply couldn’t compete with a group driven by the desire to occupy this unique property.”
Lessa added, “Over the past few months, the North Shore market has seen a surge in owner-user buyers seeking well-located facilities with access to multiple towns, This property drew strong interest, especially from those needing outdoor storage, an increasingly scarce asset in core markets.”
Located 12 miles from downtown Boston and four miles from Route 1, the property offers convenient accessibility for industrial users.
- ◦Sale/Acquisition
