Image courtesy of Burgess Properties

An industrial property close by Malden Center has sold, with the tenant’s future uncertain.

Boston-based developer Quaker Lane Capital acquired the property at 180-184 Charles St. for $24.45 million earlier this month.

The 64,300-square-foot building has long been home to Sunsetter Products, makers of motorized and manually-operated retractable awnings whose famous and long-running television advertisement is likely familiar to generations of Greater Boston viewers.

Retired Sunsetter CEO Jonathan Hershberg was the seller. He had owned the property since buying it from the Malden Redevelopment Authority in 1980, according to public records.

According to Stephen Nohrden of Burgess Properties, the sole broker in the transaction, said Sunsetter is still the property’s sole tenant “but it is uncertain how long they will stay yet.”

If Sunsetter leaves, Nohrden said in an email to Banker & Tradesman, Quaker Lane plans to replace the company to another industrial tenant instead of redeveloping it.

Quaker Lane is active in the north-of-Boston submarket, having received approval for a 188,000 office and R&D building in Malden Center and, most recently, submitted a proposal for a mixed-use development on the site of MBTA-owned parking lots around the Wellington Orange Line station.

Malden is part of a growing life science and R&D cluster along the Orange Line, stretching from Assembly Square in Somerville, through Medford’s Wellington Circle and up to Malden Center.

Home of Longtime Malden Manufacturer Sold

by James Sanna time to read: 1 min
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