MANSARD closes $5.356 million sale of Woburn industrial building, demonstrating continued demand for Greater Boston industrial real estate

Woburn, MA MANSARD Commercial Properties brokered the $5.356 million sale of 16 Conn St., a 53,319 s/f industrial building that sold on May 15, 2026. The transaction underscores continued investor and owner-user demand for well-located industrial real estate in the Greater Boston market, particularly within the Wilmington/Winchester submarket where Woburn is situated.

The property, which served as the longtime operating home of Dole & Bailey, a multi-generational food processing and cold storage business, was delivered vacant at closing. The facility sits on 4.05 acres and features 10 loading docks, two drive-in doors, integrated refrigeration systems, and flexible industrial zoning — offering the buyer significant repositioning potential for manufacturing, logistics, food processing, life science support, or distribution operations.

A Strategy-First Approach to a Complex Asset

The sale was led by Jeremy Cyrier, CCIM, CRE, president of MANSARD Commercial Properties. Rather than rushing the property to market, MANSARD conducted a full pre-sale strategic asset evaluation before a single buyer was contacted — identifying the right buyer profiles, analyzing submarket supply and demand dynamics, and building a national marketing campaign designed to generate real competition.

“This was not a standard industrial listing,” said Cyrier. “Cold storage and food processing infrastructure narrows the buyer pool significantly. Our job was to reposition the asset — not as a cold storage building looking for a food user, but as a rare, infrastructure-rich industrial property in one of the most supply-constrained corridors north of Boston. The strategy made the difference.”

The property was marketed through a national exposure campaign and online auction process, attracting interest from owner-users, investors, and redevelopment groups across the region.

Woburn Industrial Real Estate Market Context
The transaction reflects the underlying strength of the Woburn industrial market despite broader regional softness. According to CoStar’s Q2 2026 Boston Industrial Market Report, the Wilmington/Winchester submarket — which includes Woburn — is the third largest industrial market in Greater Boston with over 30 million s/f of inventory. The submarket posted 2.4% year-over-year rent growth in 2026, ranking fourth highest among all 34 Boston-area industrial submarkets. Only 46,000 s/f of new industrial space was delivered in the submarket over the trailing 12 months, with just 182,000 s/f under construction — one of the most constrained supply pipelines in the region.

Recent comparable industrial sales in the Woburn corridor include 76 Holton St. at $313.59 per s/f and 26 Cedar St. at $302.27 per s/f, reflecting active demand for functional, well-located industrial assets in the market.

For more information about the 16 Conn Street transaction or to learn more about selling an industrial building in Greater Boston, visit https://masscommercialproperties.com/woburn-industrial-building-sale/

MANSARD is a commercial real estate advisory firm serving industrial and office property owners across Greater Boston and New England. Led by Jeremy Cyrier, CCIM, CRE, MANSARD specializes in pre-sale strategy, strategic asset evaluations, and seller representation for owners of industrial and office properties in Massachusetts and New Hampshire. The firm’s advisor-first approach focuses on helping owners understand the true value of their assets, identify the right buyers, and build a strategy to maximize their sale outcome before going to market.