Marcus & Millichap, a real estate brokerage firm, recently completed the sale of a 40,000-square-foot flex industrial facility in Billerica, MA for $5.75 million. The property was marketed by investment specialists Harrison Klein, Luigi Lessa and Mattias Edenkrans from Marcus & Millichap’s Boston office on behalf of the seller.
The buyer was procured by Peter Kim at Berkshire Hathaway while Miguel Encarnacion from Parson’s Commercial Group also played a role in the transaction.
According to Klein, “We were able to secure a strong sale for this property by targeting an owner-user despite it being leased for another year.” He also noted that there is still high demand from users looking to purchase office and flex buildings which makes it an attractive opportunity for investors.
The flex facility is located at 4 Federal St. within The Fields business park in Billerica. It sits on a 2.96-acre lot and has easy access to Route 3 as well as Interstates 95 and 495 making it convenient for transportation needs. Currently fully occupied by Boston Semi Equipment since their tenancy began in 2014,the building serves as one of the leading suppliers of semiconductor test automation equipment.
