BOSTON–Marcus & Millichap announced the sale of 132-140 Linwood Street, a 62,018-square-foot industrial property in Lynn, Massachusetts, for $4,631,500.
“By identifying an owner-user for this asset, we were able to maximize value,” said Harrison Klein, first vice president. “We had multiple offers from investors for this core asset; however, they simply couldn’t compete with a group driven by the desire to occupy this unique property.”
Klein, Luigi Lessa and Matias Edenkrans, investment specialists in Marcus & Millichap’s Boston office, exclusively marketed the property on behalf of the seller, a local family that had owned the property for years and procured the buyer, an owner occupant.
“Over the past few months, the North Shore market has seen a surge in owner-user buyers seeking well-located facilities with access to multiple towns,” added Lessa, associate. “This property drew strong interest, especially from those needing outdoor storage, an increasingly scarce asset in core markets.”
The industrial property consists of three buildings on a 3.06-acre lot, zoned for business use. The asset includes 56,000 square feet of warehouse space with 14- to 18-foot clear heights, three loading docks, and nine grade-level overhead doors. Located 12 miles from downtown Boston and four miles from Route 1, the property offers strong accessibility for industrial users.
