Novaya Real Estate Ventures has sold its 59,970-square-foot industrial property in Franklin for $6.4 million.

Boston-based Novaya acquired the property at 130 Constitution Blvd. in 2013 as part of a two-building portfolio and launched a significant capital improvement campaign. Novaya completed a full “vacancy preparation” repositioning of the building, which included painting the warehouse, a floor strip and seal, installing new lighting, and upgrading the dock doors with new levelers. In addition, a new roof and upgraded HVAC units were installed.

The 59,970-square-foot industrial building in the Franklin Industrial Park was purchased by Albert Milstein, Barry Kirschenbaum and Sanford Bokor.

Transwestern Consulting Group Partners John Lashar and Chris Skeffington, along with Vice President Roy Sandeman, represented the seller and assisted in sourcing the buyers.

“Novaya did an outstanding job repositioning 130 Constitution Blvd. into a first-class flex/manufacturing facility that really stands out in one of Greater Boston’s strongest submarkets,” Skeffington said in a statement. “The new ownership is purchasing a well-located asset that is 100 percent leased to a long-term, well-capitalized tenant.”

The repositioning effort resulted in a lease signed in May with defense contractor Qinetiq North America. TCG’s Lashar also represented Novaya Real Estate Ventures in the transaction, while JLL represented Qinetiq.

The freestanding, single-story structure is situated on 6.4 acres and features 22-foot clear heights and seven loading docks.

The I-495 market had 3.3 million square feet of flex space with a 6.5 percent vacancy rate at the end of the first quarter, according to TWG research.