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 142,000-square-foot historic
“We are delighted to have facilitated the sale of this historic office building in the heart of Haverhill. This building offers an exciting opportunity for businesses to establish their presence in a vibrant and accessible location,” said Luigi Lessa, associate. “This landmark building epitomizes the blend of tradition and progress, and we are proud to have played a part in its successful sale.”
Lessa and Harrison Klein of Marcus & Millichap’s Boston office had the exclusive listing to market the property on behalf of the seller, a legacy family ownership group. The buyer, Historic New England, was also procured by Lessa and Klein.
“We had tremendous interest in this transit-oriented site from apartment and self-storage developers,” said Klein, first vice president investments. “We are excited to see this historic property transition under the stewardship of new ownership.”
The building is located at 143-147 Essex St. in downtown Haverhill with numerous dining options nearby and within walking distance of the Boston Commuter Rail. Built in 1911 and renovated in 2005, the historic eight-story building sits on a 1.64-acre lot.
Currently, the property is leased to over 70 tenants, including professional office tenants and self-storage. The subject property was ideally positioned for conversion to apartments or self-storage.
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.
