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North Shore Industrial Portfolio Fetches $52.8M

The Cherry Hill Drive industrial/flex portfolio

Brookwood Financial Partners closed Tuesday on its sale of a seven-building industrial/flex portfolio in the Cherry Hill Business Park.

Burlington-based R.J. Kelly Co. was the buyer. Colliers International’s investment sales team, made up of Executive Vice Presidents Scott Dragos and Doug Jacoby, Vice President Tony Hayes, Assistant Vice President Tim Mulhall and associate Dan Hines, announced the nearly $53M sale.

The north suburban leasing team of Greg Klemmer, Tim Brodigan and Dan Driscoll worked on leasing the properties on the Beverly/Danvers line in preparation for a sale. The portfolio encompasses over 500K SF and includes tenants like lighting manufacturer Osram Sylvania and medical device company Medtronic. Cherry Hill Park is adjacent to the Beverly Airport in the Route 128 North submarket and 20 minutes from Logan International Airport in Boston.