The Boston office of Lincoln Property Company has negotiated the $4.5 million sale of a 177,350 s/f industrial building and 12.17 acres at 30 Industrial Way, on behalf of the owner, Beckwith Realty LLC.
Gregory Cahill, SIOR, senior vice president and Rob Cronin, vice president of Lincoln Property Co. represented the seller. The buyer was self-represented. Beckwith Realty had been a long-term owner of the property, which was most recently occupied by Universal Millennium which has relocated. Beckwith Realty hired the Lincoln Property Co. team to either sell or lease the building.
Beckwith Realty represented by Eric Allon, of Bernkopf Goodman LLP said that the seller was extremely pleased with the outcome, "After an extensive marketing campaign, Lincoln identified a buyer with whom seller was very comfortable. Working collaboratively, Lincoln assisted in successfully closing this transaction."
According to Cahill and Cronin, this transaction will be one of the most significant suburban, industrial transactions of the year. "Few empty manufacturing facilities in locations like this come to market. The buyer immediately understood the value this site presented," said Cahill.
The property is located in the town's industrial/manufacturing submarket close to Rte. 128 and I-93 and was built in the early 1970s.
About Lincoln Property Company:
The Boston office of Lincoln Property Company, a national commercial real estate company, provides brokerage, investment sales, property management, appraisal/valuation and development and project management services to a wide range of clients. In Massachusetts alone, Lincoln Property manages over 10 million s/f of commercial space and is responsible for leasing millions of s/f of space each year.