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Marcus & Millichap Closes the $10 Million Sale of an Industrial Asset in Southern Massachusetts
August 22, 2023
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MATTAPOISETT, Mass., Aug. 22, 2023 - 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 147,444-square-foot industrial property located in Mattapoisett, Massachusetts. The asset sold for $9,922,500 to a private investor.

"This was a unique opportunity to acquire a vacant warehouse with direct interstate access in southeastern Massachusetts," said Laurie Ann "L.A." Drinkwater, senior vice president investments. "The size and location were key to the buyers repositioning plan. Coordinating this sale took a good deal of collaboration and teamwork and it paid off for both buyer and seller."

Drinkwater and Seth J. Richard, investment specialists in Marcus & Millichap's Boston and Manhattan offices, had the exclusive listing to market the property on behalf of the seller and procured the buyer.

The property is located at 5 Industrial Drive in Mattapoisett and a quarter mile from Interstate 195 providing ease of access to nearby metros including, Providence, Cape Cod and Boston. Built in 1985, the building sits on 10.67 acres of land, a portion of which was sold separately at the time of closing. The site benefits from the ample parking along the front of the building with nine loading docks on the side and rear of the building with the ability to add up to six additional docks.

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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, 2022, the company had 1,904 investment sales and financing professionals in 81 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 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.

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Marcus & Millichap Inc. published this content on 22 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 August 2023 16:11:03 UTC.