September 21, 2020
Colliers International has arranged the off-market sale of Centennial Park’s 3 Technology Drive in Peabody, MASS. The sales price was $30.1 million.
The property is located within Centennial Park, a business park located off Route 128 that is adjacent to numerous corporations across a range of industries from R&D to technology to manufacturing. The 159,500-square-foot, high-bay distribution center is fully leased to three tenants and is approximately 16 miles north of Boston. The building was constructed in 2004 and features 30-foot ceiling heights, 22 loading docks and 310 parking spaces.
Frank Petz and Greg Klemmer of Colliers represented the seller, SKJ Realty Limited Partnership, in the transaction. The buyer was The Seyon Group and Wheelock Street Capital, a partnership now owning and operating over three million square feet of industrial real estate across 27 assets, primarily in the Greater Boston metro.
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