A private investor has purchased a fully occupied industrial facility in Newburyport, MA for $4,250,000. The property was marketed by a Boston-based team from Marcus & Millichap consisting of Harrison Klein, Mattias Edenkrans and Luigi Lessa on behalf of the local seller.
According to Klein, there was strong interest in the property with 10 qualified offers received during the market process. This is attributed to the high quality and low vacancy rate of this industrial park which is located at 11 Malcolm Hoyt Dr., near the New Hampshire border.
The building was originally constructed in 1986 but has since been expanded. It features drive-in loading and ample parking space. Currently fully occupied by Journeyman Press – a commercial printing company that also provides marketing and mail services for various industries – this sale further highlights the demand for well-maintained industrial properties in prime locations like Newburyport Industrial Park.
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