Dealmaker: Colliers Facilitates $40M Sale of Massachusetts Industrial Park

(Image courtesy of Colliers)

Colliers, Toronto, has facilitated a $40 million sale and financing of Lynnway Industrial Park, in Lynn, Mass., a site with last-mile industrial properties.

The sale was facilitated by a Colliers team led by Managing Director of Investment Sales Frank Petz, along with Managing Director Matthew Sherry, Vice President Rob Schlesinger and Financial Analysts Jack Barrett, Daniel Hincks and Joe Gaziano on behalf of A.W. Perry and Foxfield, with North River Co. acquiring the properties.

“This was a multidimensional asset with a strong industrial foundation, flex components, IOS land and long-term redevelopment potential,” said Petz. “We saw strong interest from both local and national buyers, but North River stood out for their deep underwriting, clear understanding of the asset, and strategy to unlock its full potential.”

The last-mile industrial properties on the site can serve a variety of tenant needs, providing robust power requirements and industrial outdoor storage space.

A.W. Perry, a family-owned real estate investment, development and management firm, and Foxfield, a real estate investment and development firm, repositioned Lynnway Industrial Park.