Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HAVERHILL, MA-Evans Packaging Corp has acquired a 172,000 sf industrial building here for $4.3 million. The previous owner, Victory Plastics, which will maintain a 15-year lease on 12,000 sf., began manufacturing flexible vinyl films and laminated fabrics here in 1960 and has been located in the site since it was first built in 1970.

Bradford Spencer, vice president with Grubb & Ellis’ Boston office, tells GlobeSt.com that the arrangement allowed the Canadian-based Victory to scale back its operation at 25 Shelley Rd. and gave the new owner additional space to rent on the open market. The Winchester-based Evans Packaging, a distributor of recycled paperboard boxes, point-of-purchase displays and packaging materials, will take 50,000 sf for its own use, according to Spencer, who represented the buyer. The seller was represented by Robert Cronin with Meredith & Grew in Boston.

“The new owner particularly liked the fact that there was some upside in the rental stream,” Spencer says. The remaining space in the single-story industrial building, located on 14 acres in the Ward Hill Business Park near Interstate 495, is on the market for $3.95 per sf triple net.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.