Marcus & Millichap successfully closed the sale of a flex/industrial property located at 1 Technology Way in Salem, MA for $10,125,000. The transaction was structured as a sale-leaseback.
According to Harrison Klein, first VP at Marcus & Millichap, this deal allowed the seller to maintain ownership of their operating company while also securing long-term occupancy of the building. Additionally, it provided an opportunity for one of New England’s top industrial landlords to acquire real estate ownership.
Klein worked alongside investment specialists Luigi Lessa and Mattias Edenkrans from Marcus & Millichap’s Boston office to represent the seller and bring in Calare Properties as the buyer.
Situated on approximately four acres of land, this flex/industrial building spans over 84,814 square feet. The majority is currently occupied by a sophisticated manufacturing user who will continue operating out of the space under a long-term lease agreement. With only 22
