NSD 2 Real Estate LLC Acquires Industrial Property In Merrimac, MA For $7.3M

Located at 51 East Main Street in Merrimac, Massachusetts, this industrial manufacturing building spans approximately 87,792 square feet and sits on 22.37 acres of land. The property was recently sold on December 30, 2021, for a total price of $7,300,000, resulting in a price per square foot of $83.15.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $7,300,000
• Address: 51 East Main Street, Merrimac, MA
• Market: Merrimac, MA

In this off-market transaction, the buyer, NSD 2 Real Estate LLC, was represented by Brian DApice of The Mega Group. On the other side, Jason K Clark, also from The Mega Group, represented the seller, 51 East Main Street LLC.

According to Brian DApice, the buyers have plans to continue operating the existing business on-site and utilize over 10,000 square feet of unused space for another entity within their group. Additionally, there are future plans to develop more industrial-style space on the 22+ acre parcel, possibly exploring other opportunities in the rear of the land area, where Federal Street divides the property.

It's worth mentioning that along with the sale of the real estate, an undisclosed multi-million dollar sale of the existing business, James F. Mullen Co., Inc. (JFM), was included in the purchase price. JFM is a multi-generation family-owned business primarily involved in machine shop, jobbing, and repair services within the industrial and commercial machinery and computer equipment sector. With a single location and approximately 60 employees, JFM generates around 14 million US dollars in international revenues annually, according to Bloomberg.