Drinkwater and Richard of Marcus & Millichap handle $9.92 million sale

Mattapoisett, MA Marcus & Millichap finalized the sale of a 147,444 s/f industrial property. The asset sold for $9.92 million to a private investor.

“This was a unique opportunity to acquire a vacant warehouse with direct interstate access in southeastern Massachusetts,” said Laurie Ann Drinkwater, senior vice president investments. “The size and location were key to the buyers repositioning plan. Coordinating this sale took a good deal of collaboration and teamwork and it paid off for both buyer and seller.”

Drinkwater and Seth Richard, investment specialists in Marcus & Millichap’s Boston and Manhattan offices, had the exclusive listing to market the property on behalf of the seller and procured the buyer.

The property is located at 5 Industrial Dr. and a quarter mile from I-195 providing access to nearby metros including, Providence, Cape Cod and Boston. 

Built in 1985, the building is on 10.67 acres, a portion of which was sold separately at the time of closing. The site benefits from the parking along the front of the building with nine loading docks on the side and rear of the building with the ability to add up to six additional docks.