News: Front Section
Posted: December 3, 2021
Lundberg of Stan Johnson Co. brokers $4.2 million off-market sale of 60,000 s/f industrial building - purchased by NB Partners III LP
Sterling, MA Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 60,000 s/f industrial distribution facility. Located at 13 Chocksett Rd., the property is fully leased to Utz Quality Foods. In addition to the Utz brand, the company is also known for Zapp’s, Golden Flake and TGI Fridays Snacks, among other potato chip and snack foods. Stan Johnson Co.’s Erik Lundberg represented the seller, an individual investor based in Leominster, Mass. The buyer was NB Partners III LP, a Wakefield, MA-based institutional investor. The asset traded for $4.2 million.
“We were able to achieve full asking price on an off-market basis for this property that features a short-term lease in place with Utz Quality Foods,” said Lundberg, associate director in Stan Johnson Company’s Tulsa, Oklahoma headquarters.
The two-story, class B industrial property was built in 2006 and is situated on 4.8 acres close to I-190. The town is located just 20 minutes north of Worcester and 40 miles west of the Boston metro area.
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