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Marcus & Millichap closes $5 million sale of Medford food facility

The 19,278-square-foot property sold for $5 million was delivered vacant and is set up for food processing with minimal office space.

Reported · Written up by our desk · Industrial & Land

Connect Commercial Real Estate outlet ConnectCRE says Marcus & Millichap has completed the sale of 93 Mystic Ave. in Medford, Massachusetts, a specialized industrial property used for food processing.

The transaction price was $5 million, and the process was structured to avoid development permitting, allowing the buyer to provide immediate non-refundable deposits and close cash within 45 days of offer acceptance, according to ConnectCRE.

ConnectCRE reports the property totals 19,278 square feet on a 1.12-acre lot, with two buildings including a 14,278-square-foot main building and a 5,000-square-foot auxiliary building.

The facility, built between 1950 and 1955, was marketed by Marcus & Millichap and was delivered vacant, designed for food processing with minimal office space, ConnectCRE added.

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