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Marcus & Millichap has completed the sale of 44 Mead St., an industrial property in Leominster, MA, totaling 62,259 square feet across eight tenant spaces. The asset changed hands for $4 million, and Marcus & Millichap managing director investments Harrison Klein noted that the transaction reflects a broader surge in industrial activity across Worcester County.
Klein represented the seller, described as a private investor, in the disposition. The buyer, The Lexvest Group, was represented in the deal by Nate Nickerson of Fieldstone Commercial. According to Klein, the new ownership is planning a renovation program for the property, positioning it to build on its existing attributes and location advantages.
The property spans 4.1 acres and offers approximately 100 parking spaces, supporting both tenant operations and customer or employee access. Building features include clear heights ranging from 14 to 16 feet, eight loading docks, and two grade-level doors, providing a mix of loading options suitable for multi-tenant industrial use.
Located off Exit 100 on Route 2, 44 Mead St. sits about a half mile from the North Leominster MBTA station, which offers direct commuter rail service to Boston’s North Station. This proximity to transit adds connectivity for both labor and logistics, while highway access supports regional distribution and local service users.
The industrial building is positioned between Durand Cadillac and Leominster Deck Hockey, and the site sits adjacent to a Cadillac/GMC dealership. Nearby retail and service uses include a Dunkin’ and a Speedway, which contribute to the property’s visibility along a primary commercial corridor. Marcus & Millichap characterized the location as offering strong exposure within an active commercial area.
Market participants involved in the transaction pointed to the sale as indicative of continued demand for industrial assets in Worcester County. With a multi-tenant configuration, established roadway and rail access, and a planned renovation program under new ownership, the property illustrates how investors are targeting existing industrial stock that can be enhanced to meet current tenant requirements in the region.
The post Marcus & Millichap Sells Leominster Industrial Property, Signaling Worcester County Surge appeared first on CRE Market Beat.
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