Press Releases
Marcus & Millichap Closes $4.25 Million Industrial Asset Sale in Worcester Metro
August 20, 2025
STERLING, Mass., Aug. 20, 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 36,977-square-foot industrial office warehouse in Sterling, Massachusetts. The asset sold for $4,250,000.
“This sale, which included a partial leaseback, allowed our seller to capitalize on this high-quality building while entering a long-term lease for a portion of the warehouse,” said Harrison Klein, managing director investments in Marcus & Millichap’s Boston office. “This transaction, at 100% of the asking price, is indicative of the strong warehouse market in Worcester County.”
Klein exclusively marketed the property on behalf of the seller, who will retain a portion of the building for their business, while the buyer will occupy the remainder. The buyer was represented by Alan Ringuette of The Stubblebine Company. Evan Koogler, of Kelleher & Sadowsky, handled leasing responsibilities for the seller. The property went under agreement within three weeks at full asking price.
Located at 86 Leominster Road, the property comprises approximately 20,000 square feet of air-conditioned warehouse space and 16,000 square feet of finished office space. Situated on 6.6 acres, the building features four loading docks, a drive-in door and 150 parking spaces. Positioned along Route 12, the site sees more than 7,200 vehicles per day and sits less than one mile from Interstate 190. The location connects directly to Worcester, Boston and southern New Hampshire via Interstate 190 and Route 2.
“This sale, which included a partial leaseback, allowed our seller to capitalize on this high-quality building while entering a long-term lease for a portion of the warehouse,” said Harrison Klein, managing director investments in Marcus & Millichap’s Boston office. “This transaction, at 100% of the asking price, is indicative of the strong warehouse market in Worcester County.”
Klein exclusively marketed the property on behalf of the seller, who will retain a portion of the building for their business, while the buyer will occupy the remainder. The buyer was represented by Alan Ringuette of The Stubblebine Company. Evan Koogler, of Kelleher & Sadowsky, handled leasing responsibilities for the seller. The property went under agreement within three weeks at full asking price.
Located at 86 Leominster Road, the property comprises approximately 20,000 square feet of air-conditioned warehouse space and 16,000 square feet of finished office space. Situated on 6.6 acres, the building features four loading docks, a drive-in door and 150 parking spaces. Positioned along Route 12, the site sees more than 7,200 vehicles per day and sits less than one mile from Interstate 190. The location connects directly to Worcester, Boston and southern New Hampshire via Interstate 190 and Route 2.
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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.
