Burgess Properties Sells Two Chelsea Buildings to The Seyon Group For $11MM

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CHELSEA, MA — Burgess Properties Inc. announced the sale of both 150 Eastern Avenue and 201 Crescent Avenue in Chelsea, MA to Boston-based, The Seyon Group.

150 Eastern Avenue is a 60,000 SF, two-story warehouse and office building. Given its close proximity to Logan Airport, 150 Eastern has historically been tenanted primarily by air-freight companies, but recent years have seen a diversification in its tenant mix.

The seller was O’Brien Family II LLC, owners of the abutting 140 Eastern Avenue. The sale price was $7,475,000.

201 Crescent Avenue is a 33,000 SF, single-story warehouse/manufacturing building built approximately 14 years ago. The sellers, principals of the owner/occupant, New England Lighting Company, offered the property for sale in conjunction with a wind-down of their business operations. The entire property is now available for lease. The sale price was $3,750,000.

Phil Burgess and Steve Nohrden of Burgess Properties were the sole brokers in these transactions.

Burgess Properties has been retained as the leasing agent for both properties.