Press Releases
Marcus & Millichap Brokers $5.75 Million Sale of Flex Industrial Facility in Greater Boston
November 05, 2024
BOSTON, Nov. 5, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 40,000-square-foot flex industrial facility in Billerica, Massachusetts, for $5,750,000.
“We achieved a strong sale on this asset by targeting an owner-user, despite the property being leased for another year. Users remain active for office and flex buildings, providing attractive exits for investors,” said Harrison Klein, first vice president investments.
Klein, Luigi Lessa and Mattias Edenkrans, investment specialists in Marcus & Millichap’s Boston office, exclusively marketed the property on behalf of the seller. Peter Kim at Berkshire Hathaway, procured the buyer. Miguel Encarnacion of Parson’s Commercial Group was also involved in the transaction.
“Ownership had been trying to sell this asset for two years with no success. Once they engaged us, we secured four offers and ultimately closed at 98% of the client's original asking price. We’re excited to see Onnuri's vision come to life in the coming years,” adds Lessa, senior associate.
Located at 4 Federal St., this flex facility sits on a 2.96-acre lot within The Fields business park, just 0.2 miles from Route 3 and positioned between Interstate 95 and Interstate 495. The building is fully occupied by Boston Semi Equipment, a major supplier in semiconductor test automation, which has been a tenant since 2014.
“We achieved a strong sale on this asset by targeting an owner-user, despite the property being leased for another year. Users remain active for office and flex buildings, providing attractive exits for investors,” said Harrison Klein, first vice president investments.
Klein, Luigi Lessa and Mattias Edenkrans, investment specialists in Marcus & Millichap’s Boston office, exclusively marketed the property on behalf of the seller. Peter Kim at Berkshire Hathaway, procured the buyer. Miguel Encarnacion of Parson’s Commercial Group was also involved in the transaction.
“Ownership had been trying to sell this asset for two years with no success. Once they engaged us, we secured four offers and ultimately closed at 98% of the client's original asking price. We’re excited to see Onnuri's vision come to life in the coming years,” adds Lessa, senior associate.
Located at 4 Federal St., this flex facility sits on a 2.96-acre lot within The Fields business park, just 0.2 miles from Route 3 and positioned between Interstate 95 and Interstate 495. The building is fully occupied by Boston Semi Equipment, a major supplier in semiconductor test automation, which has been a tenant since 2014.
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
