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Woburn, Wilmington Properties Sell For $8.45M Total

By James Cronin | Banker & Tradesman Staff | Mar 26, 2013 | Reprints | Print

Two suburban industrial properties in Woburn and Wilmington have sold for a combined $8.45 million.

Janis Research Company LLC purchased a 68,000-square-foot building at 225 Wildwood Ave. in Woburn from Murray Hill Inc. for $4.34 million. The Class B warehouse space located along the Route 128 corridor is currently 100 percent leased. NAI Hunneman’s David Gilkie represented the buyer.

Wilmington’s own Howland Development purchased 1 Jewel Drive in that town from Hudson Advisors for $4.1 million. The building is currently 55 percent leased. According to Gilkie, Hudson Advisors took the note to the property from the former owner and sold it cheap to Howland, "below replacement cost," Gilkie said.

"That allows them invest in the property," since they are not loaded down with debt from the purchase, he added.

Commercial & Industrial