AGAWAM — Marcus & Millichap, a commercial real-estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced the sale of 277 Silver St. in Agawam, an industrial warehouse, for $2,850,000.
“This building is situated in a premier Western Mass., location near the intersection of Interstate 91 and the Mass Pike,” said Harrison Klein, first vice president of Investments. “This sale is indicative of investors’ confidence in the strength of the industrial market during these uncertain times.”
Klein, an investment specialist in Marcus & Millichap’s Boston office, had the exclusive listing to market the property on behalf of the seller, a group of private investors. The buyer, an individual/personal trust, was procured by Tom Hovey and Eric Suffoletto of Atlantic Capital Partners.
At closing, the building was 100% occupied by two tenants, including Otis Elevator. The warehouse occupies a 3.4-acre parcel, offering a total of 37,650 square feet, featuring five loading docks and 40 parking spaces.