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News:
Owners Developers & Managers
Posted: April 26, 2019
Dickason and Jamieson of Avison Young handle $8 million sale of a 119,000 s/f industrial warehouse
Danvers, MA Avison Young has negotiated the sale of a 119,000 s/f industrial warehouse at 125 Water St.
Brandon Dickason, vice president and principal Scott Jamieson, both based in the Boston office, represented the seller, 125 Water Street LLC, which sold the building for $8 million ($71 per s/f) to Arris Partners.
Two years after the debut of Arris Partners by founders John Garofalo and Tom Sibley, the company has added 125 Water St. to its growing portfolio.
“The 125 Water St. site is a well-located industrial warehouse, 100% leased to two quality tenants,” said Dickason. “Both tenants are committed to the building and location, making this an ideal opportunity for Arris. Both the buyer and seller made this a seamless transaction from beginning to end, and we could not be more pleased with the outcome.”
“We are thrilled to acquire this asset in Danvers,” said Garofalo. “This strategic, high-bay warehouse boasts loyal tenants that have grown within the building.”
The class B industrial warehouse building is well-maintained and offers access via I-95, Rte. 128 and Rte. 1. Long-term tenants include McCue Corp. and Harvey Industries.
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