Marcus & Millichap has completed the sale of an industrial property at 400 Iron Horse Park in Billerica, MA, following a competitive marketing process that attracted multiple offers. The asset traded for $4.45 million, reflecting investor and user interest in large-scale industrial facilities that can accommodate established manufacturing operations.
Harrison Klein, managing director investments in Marcus & Millichap’s Boston office, described the process as highly competitive, noting that the selected buyer was able to close the transaction quickly and with minimal contingencies. He added that the outcome underscores ongoing demand from users seeking affordable industrial space across New England.
The property totals 219,164 square feet and was originally constructed in 1913. It comprises two manufacturing buildings that together offer 185,000 square feet of ground-floor area and an additional 34,164 square feet of mezzanine space. The asset is currently occupied by a single manufacturing user, highlighting its suitability for production-oriented operations that benefit from a combination of floor area and mezzanine capacity.
Site features include three loading docks and eight drive-in doors, providing multiple options for truck access, loading, and logistics functions. The buildings are situated on a 41.7-acre parcel, of which 13 acres are described as usable. This land profile offers functional outdoor and site-area utility to support the existing manufacturing tenancy and related operational needs.
On the transaction side, Klein, along with colleagues Luigi Lessa and Mattias Edenkrans of Marcus & Millichap, marketed the property on behalf of the seller. Klein and Lessa, working in association with David Skinner and Prescott IOS, sourced the buyer and guided the deal through to closing. The coordinated effort by the brokerage team covered both seller representation and buyer procurement, aligning marketing, negotiations, and due diligence under a single platform.
The sale of 400 Iron Horse Park adds to the recent industrial transaction activity in Billerica and reflects how functional, fully occupied manufacturing assets can draw multiple bids when pricing and usability align with user requirements for cost-effective industrial space in the region.
