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 Harbor Freight, a 17,069 square-foot net-leased property located in Saugus, Massachusetts, according to Harrison E. Rein, regional manager of the firm’s Miami office. The property sold for $5,825,000.
“This newly retrofitted Harbour Freight, just outside of Boston had numerous offers from both private and public interested parties showing the strength of the Tenant and desirability by a wide range of investors”, said Ronnie Issenberg, senior managing director investments. “The property is well located along a highly trafficked throughfare and surrounded by numerous newly developed apartment complexes, thus creating great demand for the asset”, added Ricardo Esteves. Gabriel Britti, Ricardo Esteves and Ronnie Issenberg, investment specialists in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a limited liability company and the buyer, a National REIT. Thomas Shihadeh, broker, assisted in closing this transaction.
Harbor Freight is located at 682 Broadway. The property has frontage to U.S Route 1, a six-lane highway, which benefits from more than 120,000 vehicles per day. Route 1 is lined within a major shopping district, including Square One Mall and is the main commuter route out of Boston for the North Shore region heading towards I-95. Saugus has experiences over 6.2 percent population growth since 2020.
About Marcus & Millichap (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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
