Image courtesy of Google Maps

Westbrook Partners has paid $59.5 million for the Signature Breads property in Chelsea, the latest in a series of acquisitions by major developers in the near-north industrial market.

The 8.7-acre property at 100 Justin Drive contains a 131,549-square-foot manufacturing building completed in 1968, according to data compiled by The Warren Group, publisher of Banker & Tradesman.

The transaction includes the 100 Justin Drive property, which was acquired from Chelsea-based Kennington Properties for $53 million, and $6.5 million for a pair of condo units at 10 Justin Drive acquired from Blackfriar Properties of Chelsea.

Industrial properties in Chelsea have been in recent demand because of proximity to population centers, highway routes and Logan International Airport, prompting a series of big-ticket acquisitions in the past year. In December 2019, Boston-based North Colony Asset Management bought the Harbour Pointe portfolio on Arlington, Spruce and Second streets for $71 million.

The Davis Cos. acquired the 18-acre Boston Market Terminal Corp. property on the Chelsea-Everett line for $28.5 million in December 2019, and plans to build a 221,800-square-foot e-commerce warehouse.

And Framingham-based Calare Properties acquired a flex building at 201 Crescent Ave. that’s leased to Shore Educational Collaborative in May for $10.4 million.