LEOMINSTER, Mass.— Marcus & Millichap (NYSE: MMI) announced the $4 million sale of a 62,259-square-foot, eight-tenant industrial property at 44 Mead St. in Leominster, marking another sign of strengthening industrial investment activity in Worcester County.
According to the brokerage firm, the property traded to The Lexvest Group, with the seller identified as a private investor.
“The sale of this highly visible industrial asset reflects a surge in industrial activity in Worcester County,” said Harrison Klein, managing director investments in the firm’s Boston office. “We’re excited to see the renovation program that the buyer plans to undertake on this unique property, which sits between Durand Cadillac and Leominster Deck Hockey.”
Klein represented the seller in the transaction. The buyer was represented by Nate Nickerson of Fieldstone Commercial.
Situated on 4.1 acres, the property includes approximately 100 parking spaces and offers 14- to 16-foot clear heights, eight loading docks and two grade-level doors. The multi-tenant industrial building is positioned at Exit 100 off Route 2, approximately half a mile from the North Leominster station with direct commuter rail service to Boston’s North Station.
The asset also benefits from prominent visibility along a primary commercial corridor. It sits adjacent to a Cadillac/GMC dealership and near national retailers including Dunkin’ and Speedway.
