Baywood Hotels Inc. Acquires Industrial Property In Chelsea For $3.68M

The property involved in the transaction is a 25,500 square foot industrial building located at 200 2nd St, Chelsea, MA 02150. The asset was sold for $3,680,000.00. The property is situated on 1.05 acres in the Chelsea market, directly across the street from Mystic Mall.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $3,680,000.00
• Buyer: Baywood Hotels Inc.
• Buyer's Representative: Stephen (Steve) Nohrden
• Seller: 200 Second Street Trust

Additionally, the sale of 200 2nd St. was facilitated by Burgess Properties Inc. with David Corkery and Bruce Lusa of CBRE New England as the brokers. The buyer, Baywood Hotels Inc., is known for being one of the nation's fastest-growing privately-owned hotel management companies and developers. Burgess Properties, founded in 1997, is a prominent commercial brokerage firm in Greater Boston that specializes in office and industrial property sales and leasing.