Marcus & Millichap Close Sale of Billerica Industrial After Multiple Offers

Marcus & Millichap closed the sale of 400 Iron Horse Park, an industrial property in Billerica, MA. The sale price was $4.45 million.

“This was a competitive marketing process with multiple offers. The eventual buyer was able to close quickly with minimal contingencies,” said Harrison Klein, managing director investments in Marcus & Millichap’s Boston office. “This sale reinforces the need by users for affordable industrial space throughout New England.”

Klein, Luigi Lessa and Mattias Edenkrans of Marcus & Millichap marketed the property on behalf of the seller. Klein and Lessa, in association with David Skinner and Prescott IOS, procured the buyer.

The 219,164-square-foot property was built in 1913 and includes two manufacturing buildings. The buildings have 185,000 square feet of ground-floor and 34,164 square feet of mezzanine space. It is occupied by a single manufacturer and features three loading docks and eight drive-in doors. The property sits on a 41.7-acre parcel, with 13 usable acres.

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