155 Market Street

Everett, MA

Offering Summary

Avison Young is pleased to offer for sale 155 Market Street, a 39,584 square foot refrigerated warehouse and distribution center situated only three miles north of Downtown Boston in Everett, Massachusetts. The cross-dock facility features 24 loading doors, 17' to 25' ceiling heights and ample power. Positioned in one of the top urban industrial submarkets of Greater Boston, and its primary wholesale produce supply district, 155 Market Street offers an exceptional location with easy access via the Tobin Bridge (Route 1), Interstate 93, the Massachusetts Turnpike, and is only minutes away from Boston’s Logan International Airport. Uniquely, 155 Market Street provides tenants with direct port access to the Island End River via approximately 300 feet of waterfront frontage, which links the property with the Mystic River and Boston Harbor.

155 Market Street is 100% leased to a diverse roster of tenants including produce, florist, grocery, and seafood distributors. Bolstering cash flow, 155 Market Street generates additional revenue from its 0.75-acre outdoor storage yard and 0.60-acre parking area. With a generational location in a leading urban industrial submarket, strong tenancy, and cash-flow upside, 155 Market Street presents investors with an extremely attractive investment opportunity.

For more details please visit: www.155market.com

Highlights

100% Leased with Strong Cash Flow – 155 Market Street is 100% leased to multiple NNN tenants that utilize the property for a variety of refrigerated warehouse and distribution uses. The property also generates signfiicant revenue from two exterior storage and parking tenants.

Sticky Tenancy - The cross-dock facility feautres individual loading docks and serves as a strategic location for its tenants, many of which have occupancies dating back almost a decade at 155 Market Street.

Irreplacable Location - 155 Market Street is situated in one of Urban Boston’s last remaining industrial neighborhoods and provides tremendous access to major roadways including Interstate 93, the Massachusetts Turnpike (I-90) and Route 1, and offers direct waterfront access linking the property with the Mystic River and Boston Harbor.

Strong Market Fundamentals - The Everett/Cheslsea industrial submarket is one of the strongest industrial submarkets in Greater Boston with a vacancy rate of just 3.7% as of Q2 2024 and average asking rents of $23.52/SF NNN, an 8.9% increase year-over-year. As the industrial inventory close to Boston continues to constrict, solidified industrial pockets like the produce-oriented neighborhood around 155 Market Street are expected to continue see increasing demand.

Neighborhood in Transition - The immediate area has experienced a dramatic transformation over recent years as the result of the development of the $2.6 billion five-star Encore Boston Harbor Resort & Casino. The casino opened in 2019 on a 33-acre former industrial site, and sits only one mile away from 155 Market Street. Continuing this transformation, The Davis Companies recently unveiled their plans to re-develop the neighboring 100-acre former ExxonMobil fuel tank site along Beacham Street into a 7.2 million SF mixed-use development dubbed the Everett Docklands.

Location

155 Market Street is situated in a produce dense micromarket that splits the border of Chelsea and Everett along Beacham Street, and is the notable home of the New England Produce Center. Established in 1968, the New England Produce Center is renowned for being the largest privately owned terminal produce market in the country, with over forty different food distributors operating within it. Over the years, the Produce Center has drawn similar users to the area, and the growth of e-commerce and home delivery services have resulted in a heightened need for quality food storage as well as efficient, timely distribution of perishable goods.