BOSTON— Marcus & Millichap has completed the sale of an 11,110-square-foot industrial condominium in Lawrence, Massachusetts, for $1.95 million, the firm announced Wednesday.
The property, located at 678 Andover St., Unit 1, was sold on behalf of a private seller and acquired by Foremost Trading. The transaction was handled by Marcus & Millichap investment specialists Mattias Edenkrans, Harrison Klein, and Luigi Lessa of the firm’s Boston office, who exclusively marketed the asset and procured the buyer.
According to Edenkrans, the property’s vacancy and strategic location helped attract strong interest from owner-users seeking long-term operating space. “Because the condo was vacant and situated within minutes of Interstate 93 and Interstate 495, we were able to identify a strong owner-user pool,” Edenkrans said. “This location, along with growing rents in the industrial park, allowed these users to achieve competitive pricing for the asset.”
Built in 1981, the single-story industrial condo features two loading docks, 14-foot clear ceiling heights, and 21 surface parking spaces. The property also benefits from proximity to retail and service amenities along Andover Street, adding to its appeal for operational users.
The sale reflects continued demand for well-located industrial assets in the Merrimack Valley, particularly from businesses seeking ownership opportunities amid rising industrial lease rates across Greater Boston.
