BOSTON— JLL Capital Markets announced the sale of a two-building industrial and flex portfolio in North Andover, Massachusetts, for $12.5 million. The properties, located at 300 Willow Street and 125 Flagship Drive, were acquired by The Seyon Group, a real estate investment firm focused on industrial assets across New England.
Totaling 80,477 square feet, the portfolio includes two well-positioned facilities in one of Massachusetts’ top-performing industrial submarkets. JLL represented the seller in the transaction.
Originally built in the 1980s, the assets have been maintained and updated to meet evolving tenant needs. The larger property, 300 Willow Street, spans 50,893 square feet on nearly 16 acres and features 16-foot clear heights, eight loading docks, one drive-in door, and 170 parking spaces. It is currently 75% leased to three tenants.
125 Flagship Drive, renovated in 2017, offers 29,584 square feet on a 5.79-acre lot. The building provides clear heights ranging from 16 to 24 feet, along with one tailboard loading dock, one drive-in door, and 46 parking spaces.
Together, the portfolio is 85% leased to four tenants across diverse industries, including healthcare services, corporate furniture installation, plastic fabrication, and supercritical fluid extraction—a testament to the property’s appeal beyond traditional warehousing and logistics.
Strategically located in the North submarket—a key industrial corridor between Southern New Hampshire and Boston—the assets benefit from strong labor availability and easy access to major transportation routes.
“The North submarket continues to outperform Greater Boston industrial metrics in both vacancy and rent growth,” said Michael Restivo, Managing Director at JLL Capital Markets. “The portfolio’s strategic location combined with significantly below-market rents provides the new ownership with substantial near-term upside as leases roll, while benefiting from a diverse tenant base.”
The JLL Capital Markets team representing the seller included Managing Directors Michael Restivo and Brian Tisbert, and Directors David Coffman and Tommy Hovey.
