Marcus & Millichap facilitates $8.9 million sale of 64,928 s/f industrial warehouse

Pawtucket, RI Marcus & Millichap  negotiated the sale of industrial warehouses for $8.95 million.

These industrial warehouses spanning 64,928 s/f are located at 670-710 Narragansett Park Dr., situated in Narragansett Business Park, near I-95. The property is comprised of six suites and offers parking on site.

“This transaction is a testament to the continued demand for industrial and flex properties in New England,” said Harrison Klein, first vice president of investments. “Ownership cultivated a strong tenant roster, making the buyer confident in the future profitability of this investment property.”

Klein, investment specialist in Marcus & Millichap’s Boston office, had the exclusive listing to market the property on behalf of the seller, Legacy Real Estate Ventures. The buyer, NSD RI Real Estate, an entity owned and controlled by the partners of NSD Real Estate, was also procured by Klein.

“The buyer recognized the value that the regional and national credit tenants have brought to this asset. The Klein team did a fantastic job putting many of the moving pieces together and helped us achieve a sale in a competitive and shifting market,” said Jen Price, principal of Legacy Real Estate Ventures.