Press Releases
Marcus & Millichap Arranges Sale of Industrial Property in Boston Metro for $4.85 Million
January 30, 2025
BOSTON, Jan. 30, 2025 – 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 30,855-square-foot flex/industrial building located at 45 Beechwood Drive in North Andover, Massachusetts, for $4,850,000.
“This transaction highlights the strength of owner-users in today's market,” said Mattias Edenkrans, associate. “This deal generated strong interest from investor groups and business owners alike and ultimately sold to a local company, which plans to expand its growing operation into this property.”
Edenkrans, Harrison Klein, and Luigi Lessa, investment specialists in Marcus & Millichap’s Boston office, exclusively marketed the property on behalf of the seller, a private investor and procured the buyer, a privately held owner occupant.
“By modifying the in-place leases, we were able to deliver both cashflow and space for the buyer to occupy, satisfying a complex need,” added Harrison Klein, first vice president investments.
Built in 1997, the building features 11,500 square feet of office space and 19,355 square feet of warehouse space, with two loading docks, one drive-in bay, and 14-foot clear heights. The property is situated on a 5.01-acre lot with ample parking and is partially leased to Tower Engineering Professionals. Located directly across from a 3.8 million-square-foot Amazon distribution center and just 32 miles from Boston, the property is near Interstate 495 and the nearby New Hampshire border.
“This transaction highlights the strength of owner-users in today's market,” said Mattias Edenkrans, associate. “This deal generated strong interest from investor groups and business owners alike and ultimately sold to a local company, which plans to expand its growing operation into this property.”
Edenkrans, Harrison Klein, and Luigi Lessa, investment specialists in Marcus & Millichap’s Boston office, exclusively marketed the property on behalf of the seller, a private investor and procured the buyer, a privately held owner occupant.
“By modifying the in-place leases, we were able to deliver both cashflow and space for the buyer to occupy, satisfying a complex need,” added Harrison Klein, first vice president investments.
Built in 1997, the building features 11,500 square feet of office space and 19,355 square feet of warehouse space, with two loading docks, one drive-in bay, and 14-foot clear heights. The property is situated on a 5.01-acre lot with ample parking and is partially leased to Tower Engineering Professionals. Located directly across from a 3.8 million-square-foot Amazon distribution center and just 32 miles from Boston, the property is near Interstate 495 and the nearby New Hampshire border.
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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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
