LYNN, Mass. — Foxfield, in partnership with A.W. Perry, has announced the sale of Lynnway Park, a 252,000-square-foot, three-building industrial portfolio located at Lynnway Park along the Route 1A corridor in Lynn.
The 17-acre property, located at 626–680 Lynnway, was acquired by North River Company, LLC. Financial terms of the transaction were not disclosed.
Strategically positioned along the Lynnway with access to Route 1A, the site sits within close proximity to Logan International Airport, the Boston metropolitan area, and communities along the North Shore. The property has historically served as a major industrial asset in the region and was previously home to dairy operations including Garelick Farms and West Lynn Creamery.
Modernization and Value-Add Strategy
Since acquiring the property in 2020, Foxfield undertook a series of capital improvements aimed at modernizing the facility and strengthening its long-term industrial use. The upgrades included improvements to first-floor cold storage operations at 626 Lynnway, enhancements to the 46,219-square-foot warehouse at 680 Lynnway, and broader infrastructure and exterior improvements designed to increase operational efficiency and improve the campus’s visibility along the roadway.
“These improvements helped reposition the property as a modern industrial campus capable of supporting a range of logistics and warehouse operations,” the company said.
Fully Leased Industrial Campus
Lynnway Park is currently fully leased, with a diverse group of industrial tenants operating across the campus.
One of the anchors is Global Protection Corp, which completed an approximately 63,000-square-foot buildout at the site and now employs more than 80 people there.
The property also houses established operators including LSG Sky Chefs and Wash Cycle Laundry. Wash Cycle Laundry expanded its footprint at the campus in recent years to roughly 44,000 square feet.
Together, the tenants highlight the property’s role as a key employment center in Lynn.
Corridor Undergoing Transformation
The sale comes amid significant redevelopment along Lynn’s Route 1A corridor, where thousands of residential units have been permitted or are under development as the city pursues broader economic growth and transit-oriented development initiatives.
Despite the surge in residential activity, Lynnway Park remains an important component of the area’s industrial base, helping preserve logistics and employment space within the evolving waterfront district.
“This transaction reflects Foxfield’s ability to identify well-located industrial assets, execute a thoughtful value-add strategy, and deliver strong outcomes for our partners,” said Jeff Theobald, managing partner at Foxfield. “By modernizing the facility and stabilizing the asset, we positioned it for continued success under new ownership.”
Bob Maloney, executive vice president and managing director of acquisitions at A.W. Perry, emphasized the role of public-private collaboration in the project.
“Lynnway Park shows what strategic investment and true city partnership can deliver,” Maloney said. “Together with Foxfield, we modernized systems, refreshed the campus, and worked closely with our tenants to design spaces that support their operations and long-term growth.”
Maloney also credited the support of Jared Nicholson, mayor of Lynn, and the city for their collaboration during the project.
With the acquisition, North River Company is expected to continue operating the campus as a key industrial asset serving businesses across the North Shore and Greater Boston region.
