Marcus & Millichap Inc.
08/22/2024 | Press release | Distributed by Public on 08/23/2024 12:41
Marcus & Millichap Arranges $2.85 Million Sale of 52,000 Square Foot Industrial Space in Holliston
Marcus & Millichap Arranges $2.85 Million Sale of 52,000-Square-Foot Industrial Space in Holliston
August 22, 2024
LinkedIn Email App
HOLLISTON, Mass., August 22, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 52,000-square-foot vacant industrial building in Holliston, Massachusetts. The property sold for $2,850,000.
"The buyer intends to renovate this unique building to lease space to smaller tenants. In fact, nearly every interested investor had a vision of creating small-bay/contractor bays at this location," said Harrison Klein, first vice president investments in Marcus & Millichap's Boston office. "Demand for smaller tenant spaces remains extremely high, and developers are turning to the conversion of existing buildings to meet this need."
Klein had the exclusive listing to market the property on behalf of the seller, a private investor, and procured the buyer, 561 Main Street Best, LLC.
The industrial property at 91 Kuniholm Drive offers approximately 52,000 square feet of space, featuring ample loading docks and a 16-foot clear height. The vacant building will undergo major renovations by the buyer. Its proximity to Wellesley, Needham, and nearby affluent suburbs makes it a prime location for recreational uses like gymnastics, private gyms, or athletic training facilities. Evan Koogler of Kelleher and Sadowsky handled leasing for the seller and assisted in the sale.
"The buyer intends to renovate this unique building to lease space to smaller tenants. In fact, nearly every interested investor had a vision of creating small-bay/contractor bays at this location," said Harrison Klein, first vice president investments in Marcus & Millichap's Boston office. "Demand for smaller tenant spaces remains extremely high, and developers are turning to the conversion of existing buildings to meet this need."
Klein had the exclusive listing to market the property on behalf of the seller, a private investor, and procured the buyer, 561 Main Street Best, LLC.
The industrial property at 91 Kuniholm Drive offers approximately 52,000 square feet of space, featuring ample loading docks and a 16-foot clear height. The vacant building will undergo major renovations by the buyer. Its proximity to Wellesley, Needham, and nearby affluent suburbs makes it a prime location for recreational uses like gymnastics, private gyms, or athletic training facilities. Evan Koogler of Kelleher and Sadowsky handled leasing for the seller and assisted in the sale.
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.