retail/mixed-use redevelopment opportunity federal stree… · security system card-key access...
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Ca
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Retail/Mixed-Use Redevelopment OpportunityF o r m e r G e n e r a l e l e c t r i c m a n u Fac t u r i n G Fac i l i t y
4 0 F e d e r a l s t r e e t :: ly n n , m a s s ac h u s e t t s
For more information, please contact:
capital markets market expert
Chris Angelone617.912.7062 [email protected]
Brent Woodruff404.504.5962 [email protected]
Nat Heald617.912.7021 [email protected]
John Meador617.912.6877 [email protected]
Mark Reardon617.912.7046 [email protected]
i n v e s tm e n t h i G h l i G h t s
• Rareopportunitytoacquirealargeredevelopment
siteinalocationwithhighbarrierstoentry
• GoodvisibilityalongWesternAvenue(Route107)
withfullysignalizedaccess
• Locatedonafour-cornerintersectionwithatrafficvolumeof10,711vehiclesperday
• Limitedavailabilityforsubstantialnewdevelopmentsintheareawithfrontagealong
thecommercialthoroughfares
• Flexiblezoningallowingforredevelopment
WesternAvenue
WesternAvenue
107
107
1a
lynn
WesternAvenue
FederalStreet
SpencerStreet
WaterhillStreet
CBRE has been retained to act as the Exclusive Agent for the marketing and sale of 40 Federal Street in Lynn, Massachusetts. The site consists of 22+ acres and is currently improved with a vacant two-story manufacturing building totaling ±68,202 square feet. Constructed in 1985, the building includes a factory floor, offices, and conference/computer rooms. Formerly utilized as an aviation manufacturing plant, the structure also has the potential to serve as a warehouse. This offering represents a unique opportunity for investors to acquire a dense urban infill property that provides a variety of possible uses, including complete redevelopment. With a population of ±124,859 people within a three-mile radius and premium access along Western Avenue (Route 107), 40 Federal Street presents an attractive development opportunity for prospective investors.
Retail/Mixed-Use Redevelopment OpportunityF o r m e r G e n e r a l e l e c t r i c m a n u Fac t u r i n G Fac i l i t y
4 0 F e d e r a l s t r e e t :: ly n n , m a s s ac h u s e t t s
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Charlestown
Brighton
Roslindale
Jamaica Plain
Roxbury
Dorchester
E. Boston
Mattapan
Hyde Park
West Roxbury
Allston
SalisburyAmesbury
W. Newbury
Newburyport
Newbury
Rowley
Ipswich
EssexHamilton
Manchester
Wenham
Danvers
PeabodyLynnfield
Wakefield
Saugus
Ston
eham
Melrose
MaldenRevere
Boston
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Providence
ChelseaEverett
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Reading
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Sherborn
Medway
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Plainville
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EastonW. Bridgewater
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ille
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Exeter
Richmond
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Putnam
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esto
wn
Cranston
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N. Smithfield
Smithfield
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Upton
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gham
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kline
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N. Andover
Tewksbury
Lawrence
Methuen
Dracut
Lowell
Chelmsford
Tyngsborough
HudsonHollisBrooklineNew Iswich Mason
WiltonTempleSharon
Greenville
Greenville
Francestown
Barrington
DeerfieldAllenstown
Newington
Deering
Peterborough
Lyndeborough
New Boston
WeareDunbarton
Bow
Goffstown
Hooksett
Mount Vernon
Milford
Amherst
Bedford
Pelham
WindhamSalem
Atkinson
Exeter
Epping
Fremont Brentwood
Raymond
Candia
NottinghamLee Durham
Stratham
Greenland
Newmarket
Newfields
Kittery
Portsmouth
Rye
N. Hampton
HamptonHampton Falls
SeabrookHampstead
Derry
Auburn
Chester
Sandown DanvilleKingston Kensington
E. Kingston
Plaistow
Londonderry
LitchfieldMerrimack
Westford
Littleton
Boxborough
Harvard
Lancaster
DunstablePepperell
LunenburgShirley
Groton
Ayer
Townsend
Andover
Boxford
Topsfield
Middleton
Georgetown
B u i l d i n G s p e c i F i c at i o n s
Year Built 1985
Prior Use Manufacturer aircraft engine parts
Building Size ±68,202 SF
Land Area ±22.578 acres
Stories Two
Construction Steel frame/truss construction
Ceiling Height 26'6"–42'
Loading Docks Four interior
Drive-Ins Six total
HVAC System 18 rooftop units (total: 502 tons)
Heating System 15 electric unit heaters
Security System Card-key access (Matrix security system)
Sprinkler System Wet
p r i c i n G40 Federal Street is being offered without a formal asking price. Once qualified investors have had an opportunity to tour the property and thoroughly review the Offering Memorandum, CBRE will conduct a “call for offers” bid process. Ownership will accept offers on all or a portion of the property.
lo c at i o nThe town of Lynn, MA is a diverse community of over 90,000 people. It is located conveniently along Route 107 and Route 1A, providing easy access to downtown Boston and Logan International Airport. With consistent population growth over the last 10 years, Lynn represents a location that is in demand for employment opportunities and economic growth.
demographics 1 mile 3 miles 5 miles 7 miles
2012 Est. Population 37,957 124,859 286,936 573,536
2012 Est. Households 12,899 47,125 111,210 226,094
2012 Est. Average HHI $49,012 $61,071 $70,988 $72,073
capital markets market expert
Chris Angelone617.912.7062 [email protected]
Brent Woodruff404.504.5962 [email protected]
Nat Heald617.912.7021 [email protected]
John Meador617.912.6877 [email protected]
Mark Reardon617.912.7046 [email protected]
CbRE|Cap ital M aRkEts • 33 aRCh stREEt, 28th FlOOR • bOstOn, M a 02110 • 617.912.70 0 0, Fa x 617.912.70 01 • w w w.CbRE-nE.COM
© 2012 cBre, inc. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
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