Chelmsford, Mass.– Manzo Freeman Development, a privately-owned commercial real estate firm, announced that it has acquired The Landing at Chelmsford Mills for $14.85 million from Chelmsford Holdings.
Located at 51 Middlesex St #125 in North Chelmsford, Mass., the property includes three buildings totaling 285,000 GSF. This is the fifth mill property in Manzo Freeman’s portfolio, joining The Landing at Hudson Mills (Hudson, Mass.), The Landing at Everett Mills (Lawrence, Mass.), The Landing at One Chestnut (Nashua, NH), and the Walpole Business Center (Walpole, Mass.) To date, Manzo Freeman manages almost two million SF of first-class space across five properties at value-added rates in New England.
“Acquiring our fifth classic mill building in New England marks another significant step in our journey as property owners and developers. These properties hold a unique charm that resonates with us and our vision, and we are proud to preserve these historic structures,” said Michael K. Manzo, managing partner and president. “The synergy between nostalgia and progress is at the core of our approach,” Mike added. “By having the vision and creativity to invest in and improve these buildings, we hope to attract a wide mix of businesses to create a diverse and supportive commercial community while allowing the buildings to flourish for another generation.”
Built in 1890 by the U.S.W. Corporation as a wool combing mill called Silesia Mills, the buildings were renovated in 1970. Chelmsford Mills boasts 13-14-foot-high ceilings, brick and beam interiors, original wood floors, large windows delivering ample natural light, solar arrays, and expansive surface parking.
Tenants at Manzo Freeman properties include conventional office, retail and restaurant, health and wellness, research and development, light manufacturing, warehousing and distribution, among others.
To better serve its tenants, Manzo Freeman offers full-service on-site property management with immediate responses to serve requests and emergency needs, resulting in faster issue resolution for tenants. At the date of the acquisition at the end of June, 97 percent of the building was leased. Manzo Freeman plans to upgrade the three buildings with new signage and entrances as well as improvements to common areas, exterior grounds and landscaping, and parking lots. New on-site food and beverage establishments will be added to serve tenants and the surrounding community. Located less than an hour from Boston, it is located on the Lowell bus line and offers convenient access to Route 3 and I-495.
