Marcus & Millichap and Atlantic Capital Partners facilitate $2.85m sale of Agawam industrial warehouse

Agawam, MA Marcus & Millichap has completed the sale of 277 Silver St., an industrial warehouse. The asset sold for $2.85 million.

“This building is situated in a premier Western, Mass., location near the intersection of I-91 and the Mass Pike,” said Harrison Klein, first vice president of investments. “This sale is indicative of investors’ confidence in the strength of the industrial market during these uncertain times.” 

Klein, an investment specialist in Marcus & Millichap’s Boston office, had the exclusive listing to market the property on behalf of the seller, a group of private investors. The buyer, an individual/personal trust, was procured by Tom Hovey and Eric Suffoletto of Atlantic Capital Partners. 

At closing, the building was 100% occupied by two tenants, including Otis Elevator. Located four miles from the intersection of I-91 and I-90, this facility benefits from its proximity to the region’s premier industrial park. This location is ideal for businesses serving Western Mass., Hartford, and the Albany, NY markets. The warehouse occupies a 3.4-acre parcel, offering a total of 37,650 s/f, featuring five loading docks and 40 parking spaces.