Marcus & Millichap finalized the sale of an 11,110-square-foot industrial condo in Lawrence, MA for $1,950,000. The buyer was Foremost Trading.
“Because the condo was vacant and situated within minutes of Interstate 93 and Interstate 495, we were able to identify a strong owner-user pool looking for long-term operating space for their businesses,” said Mattias Edenkrans, associate investments. “This location, along with growing rents in the industrial park, allowed these users to achieve competitive pricing for the asset.”
Edenkrans, along with Harrison Klein and Luigi Lessa, investment specialists in Marcus & Millichap’s Boston office, marketed the property on behalf of the private seller and procured the buyer.
Located at 678 Andover St., Unit 1, in Lawrence, the industrial condo was built in 1981 and was vacant at the time of sale. The single-story space includes two loading docks, a 14-foot clear height and 21 surface parking spaces. The property is near retail and service amenities along Andover Street.
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