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 277 Silver St., an industrial warehouse, in Agawam, Massachusetts. The asset sold for $2,562,500.
“This building is situated in a premier Western, Mass., location near the intersection of Interstate 91 and the Mass Pike,” said Harrison Klein, first vice president of investments. “This sale is indicative of investors’ confidence in the strength of the industrial market during these uncertain times.”
Klein, an investment specialist in Marcus & Millichap’s Boston office, had the exclusive listing to market the property on behalf of the seller, a group of private investors. The buyer, an individual/personal trust, was procured by Tom Hovey and Eric Suffoletto of Atlantic Capital Partners.
At closing, the building was 100% occupied by two tenants, including Otis Elevator. Located four miles from the intersection of Interstate 91 and Interstate 90, this facility benefits from its proximity adjacent to the region’s premier industrial park. This location is ideal for businesses serving Western Massachusetts, Hartford, and the Albany, NY markets. The warehouse occupies a 3.4-acre parcel, offering a total of 37,650 square feet, featuring five loading docks and 40 parking spaces.
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.
