SOLD
Marcus & Millichap Brokers Acquire Industrial Property In Lawrence, MA For $3M
65 Manchester Street
Industrial
213,386 SF
213,386 SF
Summary
Sale
MASSACHUSETTS
Industrial
213,386 sqft
Located in Lawrence, MA, the industrial property at 65 Manchester Street was recently sold for $3,000,000. Spanning an area of 106,693 square feet, the property was purchased at a price of $28 per square foot.
Summary of Transaction Details:
- Property Type: Industrial
- Transaction Amount: $3,000,000
- Address: 65 Manchester Street, Lawrence, MA
- Market: Lawrence, MA
- Brokers: Luigi Lessa & Harrison Klein - Marcus & Millichap
Luigi Lessa and Harrison Klein from Marcus & Millichap represented the parties involved in the deal. According to Lessa, the high demand for industrial properties in proximity to I-93 has contributed to the successful closing of this transaction. The city of Lawrence has been attracting national self-storage developers, and this sale is another indication of the positive sentiment towards the area. Lessa looks forward to witnessing the transformation of the site into a modern, state-of-the-art self-storage facility.
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Details
SOLD
IMAGE: Luigi Lessa & Harrison Klein
DATE: 04/13/2021
ADDRESS: 65 Manchester Street
MARKET: Lawrence, MA
ASSET TYPE: Industrial
BROKERS: Luigi Lessa & Harrison Klein - Marcus & Millichap (@marcusmillichap_boston)
SALE PRICE: $3,000,000
SF: 106,693 ~ PPSF: $28
NOTE: Lessa comments, “Industrial product has never been in higher demand, particularly in close proximity to I-93. This is the third closing in the park we have done in the past few months, reinforcing the bullish sentiment towards the city of Lawrence attracting the attention of national self-storage developers. An optimistic consumer outlook typically means an influx of spending on products and services which results in a greater amassment of consumer goods —and we all know where that path leads. We look forward to seeing this site turn into a state-of-the-art self-storage facility.”View on map
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Address65 Manchester Street
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