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Lexington-based Azad Legacy Partners has sold a pair of manufacturing buildings in Billerica for $9.45 million after bringing them up to 100 percent occupancy.

The properties at 95 Billerica Ave. include a building 100 percent leased to a pair of contract manufacturers, Aved Electronics and Cristek Interconnects. The buyer was 95 Billerica Ave. 1 LLC, which is affiliated with Framingham-based Miller Family Trust.

A second floor of the building was recently built out to accommodate expansion by both companies, including new offices, conference rooms, labs and kitchen areas. The property includes a newly installed interior freight lift along with a renovated, 2-story atrium lobby, two tailboard loading docks, and abundant employee parking.

The property has a weighted average lease term of six years and a net operating income of $672,430 with 15 percent contractual NOI growth over the lease term, according to Andover-based brokerage Mansard.

Mansard’s Jeremy Cyrier represented the seller while RE/MAX Commercial’s Andy Kushner represented Miller Family Trust.

Billerica Manufacturing Buildings Sold by Lexington Developer

by Banker & Tradesman time to read: 1 min
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