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Alexandria Real Estate Equities sold a pair of South Boston parcels to a Boston-based investor and a self-storage facility after abandoning plans for a life science development.

Boston-based Oliver Street Capital acquired the 420 E St. property which includes a DHL Express terminal for $48.4 million.

The second parcel at 380 E St. is occupied by a self-storage facility and was sold for $38.6 million, according to a Suffolk County deed. The buyer is Premier Storage Investors, a Nashville, Tennessee-based real estate company that specializes in self-storage properties. The company has developed over 3 million square feet of facilities in 14 states, and has seven existing Massachusetts property holdings, according to its web site.

In October, Alexandria disclosed that it would sell the potential 6-acre redevelopment site, which it acquired for a combined $168.5 million in 2020.

The availability rate in the 5.2 million-square-foot Seaport lab market stood at 36.5 percent in the third quarter, according to CBRE data, with a 5.8 percent vacancy rate.

Alexandria, the nation’s largest life science landlord, is selling non-core assets in Greater Boston and other markets amid a steep decline in leasing activity for lab space.

In June, Alexandria sold a Newton office complex for a loss after dropping plans for a lab conversion, and disposed of Cambridge and Waltham properties for a combined $365 million.

Oliver Street Capital was not available for comment. The company specializes in industrial acquisitions in the Northeast corridor.

In recent years, Oliver Street has acquired industrial properties in Boston’s Newmarket district, Lowell, Malden Center and Peabody in a partnership with Bain Capital.