M
arcus & Millichap (NYSE: MMI) recently sold a 40,000-square-foot flex industrial facility in Billerica, Massachusetts for $5.75 million. The sale was facilitated by Harrison Klein, Luigi Lessa, and Mattias Edenkrans of Marcus & Millichap's Boston office, who exclusively marketed the property on behalf of the seller.

    The team successfully targeted an owner-user buyer, securing a strong sale despite the property being leased for another year. "Users remain active in the market, providing attractive exits for investors," said Klein, first vice president investments.

    Located at 4 Federal St., the flex facility sits on a 2.96-acre lot within The Fields business park and is fully occupied by Boston Semi Equipment, a major supplier of semiconductor test automation equipment since 2014. The property's prime location near Route 3 and between Interstate 95 and Interstate 495 made it an attractive asset for investors.

    The sale was a significant success for the seller, who had been trying to sell the asset for two years without success. "We secured four offers and closed at 98% of the client's original asking price," added Lessa, senior associate.