WOBURN, Mass. — MANSARD Commercial Properties has completed the $5,356,000 sale of 16 Conn Street in Woburn, highlighting continued investor and owner-user demand for industrial assets in Greater Boston’s tightly constrained Route 128 North corridor.
The 53,319-square-foot industrial facility, situated on 4.05 acres, closed on May 15 and was delivered vacant at the time of sale. The property formerly served as the longtime operating location for Dole & Bailey, a multi-generational food processing and cold storage company.
The building includes specialized industrial infrastructure such as integrated refrigeration systems, 10 loading docks, two drive-in doors, and flexible industrial zoning, positioning the asset for a range of future uses including manufacturing, logistics, distribution, food processing, and life science support operations.
The transaction was led by Jeremy Cyrier, CCIM, CRE, president of MANSARD Commercial Properties, who said the firm adopted a strategic repositioning approach before formally bringing the property to market.
“This was not a standard industrial listing,” Cyrier said. “Cold storage and food processing infrastructure narrows the buyer pool significantly. Our job was to reposition the asset — not as a cold storage building looking for a food user, but as a rare, infrastructure-rich industrial property in one of the most supply-constrained corridors north of Boston. The strategy made the difference.”
According to MANSARD, the firm conducted a comprehensive pre-sale asset evaluation that included identifying target buyer profiles, studying local supply-and-demand conditions, and launching a national marketing campaign paired with an online auction process designed to create competitive bidding activity.
The marketing effort generated interest from investors, owner-users, and redevelopment groups throughout the region.
The sale comes as the Woburn industrial market continues to demonstrate resilience despite broader softness across portions of the Greater Boston industrial sector. Industry data cited by MANSARD from CoStar’s second-quarter 2026 Boston Industrial Market Report indicates the Wilmington/Winchester submarket — which includes Woburn — contains more than 30 million square feet of industrial inventory, making it the third-largest industrial submarket in Greater Boston.
The submarket also posted 2.4 percent year-over-year rent growth in 2026, ranking among the strongest-performing industrial corridors in the region. New industrial development remains limited, with only 46,000 square feet delivered over the past 12 months and approximately 182,000 square feet currently under construction.
Recent comparable transactions in the Woburn industrial corridor have also reflected sustained demand for functional industrial properties. MANSARD noted that 76 Holton Street traded at $313.59 per square foot, while 26 Cedar Street sold at $302.27 per square foot.
Market participants continue to view infill industrial assets with specialized infrastructure and strong highway access as increasingly valuable, particularly in supply-constrained suburban Boston locations where new development opportunities remain limited.
