53 Jefferson Ave, Salem, MA 01970
45,134 SF | Industrial Building | Salem, MA 01970 | For Sale
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
- Property Type
-
Industrial
Listing Contacts
Christian Vallis
Verified Profile
John Wilson
Verified Profile
Daniel Hines
Verified Profile
- Property Info
Property Overview
As an exclusive listing agent, CBRE is pleased to offer for sale 53 Jefferson Avenue located in Salem, Massachusetts. Formerly operating as a recycling center, the Property will be delivered vacant and presents future ownership with the opportunity to take advantage of the existing infrastructure (15’ – 33’ clear height, 1 per 5,015 SF loading dock ratio) within a premier urban infill location or redevelop the site to a higher and better use. Located within an urban infill location just 16 miles north of downtown Boston, 53 Jefferson is situated within Route 128 North, historically one of the highest-performing submarkets in all of Greater Boston, given its close proximity to the urban core. The Route 128 industrial market, totaling 33.6 million square feet across 456 buildings, posted a vacancy rate of 3.8% as of Q2 2023. The average asking rents within this submarket continued to remain among the highest across the market, recording an average of $19.00 per square foot NNN for all industrial types and $20.05 per square foot NNN for high-bay, which equates to a year-over-year rent growth of 14.3% and 21.1%, respectively. 53 Jefferson is being offered free and clear from existing debt.
Property Details
- Class
- B
- Year Built
- 1931
- Stories
- 1
- Property Subtype
- Manufacturing
- Lot Size (sq. ft)
- 86,249 SF
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