Marcus & Millichap has completed the sale of 93 Mystic Ave., an industrial food processing facility in Medford, MA, for $5 million. The asset, located in a core infill location, drew attention from a wide range of capital, including local, regional and national investment groups, according to Marcus & Millichap associate director investments Mattias Edenkrans in the firm's Boston office.
Edenkrans described the facility as a rare opportunity for investors focused on food-related industrial product. With the sellers seeking a streamlined disposition that avoided any development-related permitting, the marketing process emphasized buyers capable of executing on a straightforward transaction. The ultimately selected buyer was a private family that agreed to provide immediate non-refundable deposits and to close on an all-cash basis within 45 days of offer acceptance.
Marcus & Millichap represented the seller, 93 Mystic LLC, on an exclusive basis. Edenkrans and colleague Luigi Lessa jointly led the assignment, handling the marketing effort and procuring the private family buyer. Their role encompassed positioning the property to investors and managing a competitive process that balanced timing certainty with pricing objectives for the seller.
The industrial property totals 19,278 square feet across two buildings on a 1.12-acre site. The main structure comprises 14,278 square feet, while a 5,000-square-foot auxiliary building provides additional industrial space. Constructed in 1950 and 1955, the buildings reflect mid-20th-century industrial design and remain configured for food processing operations.
At the time of sale, the facility was delivered vacant, giving the buyer full control over future occupancy strategy. The existing layout is oriented primarily to production and processing functions, with minimal office space. That configuration aligns the asset with users that prioritize manufacturing and cold-chain related needs over traditional administrative build-outs.
The combination of a specialized food processing layout, a core Medford location and a vacant-delivery profile created a distinctive investment profile. For the seller, the transaction achieved a clean, permit-free exit on an accelerated timeline. For the private family buyer, the acquisition secures a functional industrial platform with potential to accommodate food-related users in a Boston-area submarket where purpose-built product of this type is limited.
