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Matthew Blackham Of The LexVest Group Acquires Industrial Property From Joel Baker For $4M

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SOLD
$4,000,000

Massachusetts

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Industrial62,259 SF
Sold 02/20/2026
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Property Image
SOLD

Matthew Blackham Of The LexVest Group Acquires Industrial Property From Joel Baker For $4M

44 Mead Street

See Similar Deals
Industrial62,259 SF
Sold 02/20/2026
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Summary

MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$64
Total Square Footage:62,259 SF
Transaction Type:Sale

The property involved in this transaction is an industrial asset located at 44 Mead Street in Leominster, MA. The transaction was finalized at a sale price of $4,000,000, with a total square footage of 62,259. The price per square foot comes to $64.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $4,000,000
  • Address: 44 Mead Street
  • Market: Leominster, MA
  • Square Footage: 62,259
  • Price Per Square Foot: $64
  • Buyer: Matthew Blackham - The LexVest Group
  • Seller: Joel Baker
  • Buyer's Representative: Nate Nickerson - Fieldstone Commercial Properties
  • Seller's Representative: Harrison Klein - Marcus & Millichap

This transaction featured prominent individuals, including the buyer Matthew Blackham from The LexVest Group and seller Joel Baker. The buyer's interests were represented by Nate Nickerson from Fieldstone Commercial Properties, whereas the seller was represented by Harrison Klein from Marcus & Millichap, ensuring both parties had professional oversight throughout the deal.

Players

Harrison Klein
47 deals$177.2M volume
BROKER

Nate Nickerson
Fieldstone Commercial Properties
13 deals$27.9M volume
BROKER

Details

SOLD
IMAGE: Nate Nickerson & Harrison Klein DATE: 2/20/2026 ADDRESS: 44 Mead Street MARKET: Leominster, MA ASSET TYPE: Industrial BUYER: Matthew Blackham - The LexVest Group SELLER: Joel Baker BUYER'S REP: Nate Nickerson (@Nate_Nickerson_) - Fieldstone Commercial Properties SELLER'S REP: Harrison Klein (@TheKleinGroupBoston) - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $4,000,000 SF: 62,259 ~ PPSF: $64

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$213,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,211.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962.04
Annual Debt Service$227,544.49