BOSTON - Boston Realty Advisors, the largest Boston-based independent real estate brokerage, is exclusively representing the owners of 95 Sam Fonzo Dr. in Beverly, MA.
The property is a new 26,000-square-foot flex industrial building with 15,000-square-foot floor plates, heights to 24 feet, a mezzanine floor, and five loading bays with room for expansion. The building has 70 parking spaces and is well suited for cold storage, storage, distribution, or other uses.
It is located across from the Beverly Airport on 2.34 acres of land.
“This is a prime opportunity to buy into a brand new well-built asset in an emerging market,” said Dan Dewing, Associate in the Capital Markets Group of Boston Realty Advisors. Boston North is the smallest industrial area in the region in terms of room to grow, and this property can conveniently serve markets north of Massachusetts too.
“This is a great owner-user or landlord play, a flex building with a nicely finished office as well as warehouse, industrial, and distribution space,” said Dewing. “It’s an appreciating asset newly built.” It was completed in 2021 and has not yet been occupied.
The 95 Sam Fonzo Dr. property is offered for sale on an unpriced basis. Boston Realty Advisors is conducting tours of the property in the upcoming weeks with a call for offers to follow.
Beverly is a desirable community on the North Shore of Greater Boston, located 26 miles from Downtown Boston. With its airport, easy access to Route 128 and multiple MBTA Commuter Rail Stations, Beverly is an extremely accessible community. With the Northern Boston Industrial Market having a significantly smaller industrial footprint than the West and South Markets, there is continued demand from tenants.
Beverly is going through a rush of developments including class A multifamily, retail and commercial projects. Beverly offers residents and businesses a variety of new restaurants and bars, shopping, parks and access to transportation
The 95 Sam Fonzo Dr. property is located just six minutes from the Beverly Depot MBTA station. Beverly has with five commuter rail stations and easy access to Route 128.
Greater Boston has notably diminished its industrial space availability over the past decade, as demand has increased dramatically and some buildings have either been demolished or converted for multifamily use. Healthy fundamentals have paved the way for increased investor interest in recent years. Boston Realty Advisors research shows the industrial market continued to make headlines, with roughly $4.1 billion trading hands in 2020.
The Danvers/Beverly submarket consists of approximately 6.1 million square feet of industrial space. Market participants anticipate that rental rates will continue its steady climb as pent-up demand from users is absorbed.