A partnership of Foxfield and A.W. Perry has sold Lynnway Park (626–680 Lynnway and O Circle Ave.), a 252,000-square-foot, three-building industrial portfolio located along the Route 1A corridor in Lynn, MA. The 17-acre site, formerly home to Garelick Farms and West Lynn Creamery, was acquired by North River Company, LLC.
The $40-million sale was facilitated by a Colliers team led by managing Director of Investment Sales Frank Petz, along with managing director Matthew Sherry, VP Rob Schlesinger and financial analysts Jack Barrett, Daniel Hincks and Joe Gaziano on behalf of A.W. Perry and Foxfield. With the inclusion of O Circle Ave., the site totals approximately 636,000 square feet.
Located 10 miles from Boston, Lynnway Park is fully leased and anchored by a diverse tenant base, including Global Protection Corp, which completed an approximately 63,000-square-foot buildout and now employs more than 80 people at the site. The campus is also home to established industrial operators such as LSG SkyChefs and Wash Cycle Laundry, which expanded in recent years to approximately 44,000 square feet.
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