Photo courtesy of Newmark

Eastern Real Estate has sold a Haverhill industrial property for $43 million to Northbridge Partners of Wakefield after securing a 10-year lease with Amazon for a last-mile distribution center.

The 144,000-square-foot distribution center and warehouse at 25 Computer Drive was previously occupied by Brooks Brothers’ Southwick apparel factory. Boston-based Eastern Real Estate bought the property for $14 million in August 2020. 

Newmark’s capital markets team represented the seller and procured the buyer, Northbridge Partners, in the latest transaction which closed Aug. 19.

“25 Computer Drive’s tenant is undertaking substantial improvements to the asset’s buildout that are anticipated to result in the creation of an exceptionally high-quality logistics facility. The property also benefits from a prime distribution location given its access to population hubs across both Massachusetts and New Hampshire,” Newmark Executive Managing Director Matthew Pullen said in a statement.

In January, Haverhill Mayor James Fiorentini announced that the Amazon facility would succeed Southwick apparel as the anchor tenant of the property, generating 150 jobs. Southwick’s parent company, Brooks Brothers, shuttered the factory after declaring bankruptcy in 2020.

In June, Fiorentini announced that the city received $462,000 as part of Brooks Brothers’ bankruptcy proceedings to recoup tax breaks the city had given the company in 2014 to retain 468 jobs in Haverhill and create another 70 jobs by 2018.

Haverhill Property Sold for $43M After Landing Amazon Lease

by Steve Adams time to read: 1 min
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