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Luzern-linked buyers pay $47.7M for Danvers industrial campus
The three-building site at 33, 35 and 37 Cherry Hill Drive is leased to Medtronics and G&F Precision Molding.
An entity linked to Greenwich, Connecticut-based Luzern Associates paid $47.7 million for a three-building industrial campus at 33, 35 and 37 Cherry Hill Drive in Danvers, according to deed records cited by Bisnow.
The sellers were Burlington-based R.J. Kelly and Battery Global Advisors. Medtronics leases space at 35 and 37 Cherry Hill Drive, while G&F Precision Molding leases space at 33 Cherry Hill Drive, and CBRE represented the seller.
In related activity highlighted in Bisnow's Boston Deal Sheet, a joint venture including BGO and Seyon bought a two-building, 134,000 SF industrial portfolio in Marlborough for a combined $28 million, with the portfolio described as 100% leased.
Bisnow also noted other Massachusetts commercial transactions, including Lightstone Group’s $43 million purchase of a 139,000 SF office building in North Reading that is fully leased to Amazon Robotics, and Whoop being in talks for a 107,000 SF lease in Kenmore Square, where it would nearly double its office presence.