BILLERICA, Mass. — An industrial property at 400 Iron Horse Park in Billerica has sold for $4.45 million, according to Marcus & Millichap, which represented the seller and procured the buyer.
The 219,164-square-foot property consists of two manufacturing buildings constructed in 1913 and sits on a 41.7-acre parcel, including approximately 13 usable acres. The buildings contain 185,000 square feet of ground-floor space and 34,164 square feet of mezzanine space.
The property is occupied by a single manufacturer and includes three loading docks and eight drive-in doors.
Harrison Klein, Luigi Lessa and Mattias Edenkrans of Marcus & Millichap’s Boston office exclusively marketed the property for the seller. Klein and Lessa, working with David Skinner and Prescott IOS, procured the buyer.
“This was a competitive marketing process with multiple offers. The eventual buyer was able to close quickly with minimal contingencies,” said Klein, managing director of investments in Marcus & Millichap’s Boston office. “This sale reinforces the need by users for affordable industrial space throughout New England.”
The transaction comes as Iron Horse Park undergoes renewed activity. The MBTA has been leveraging its holdings in the area and recently constructed a command center for northern commuter rail operations.
Located about 30 miles from Boston, the property is near Route 3 and Interstates 495 and 93, providing access to major transportation routes throughout the region.
The sale reflects continued demand for industrial properties with large footprints and transportation access, particularly in established suburban markets around Boston.
