Lynnway Auction Auction has purchased a 14,000-square-foot industrial building and 40 acres of nearby property in Billerica for a total of $3.6 million.

The two-story building at 400 Charter Way has eight tailboard docks, a drive-in door and 23 feet of clear height. It sold for $2.45 million.

The Stubblebine Co.’s David Stubblebine, James Stubblebine, Micah Stubblebine and Ellen Garthoff represented Lynnway Auction Auction and the seller, Told Partners Inc., in the sales.

In a separate but related transaction that closed concurrently, The Stubblebine Co. also sold 40 Adjacent Acres to Lynnway Auto Auction for $1.15 million.

The Lynnway Auto Auction is as a dealer consignment auction now in its 12th year. The ownership group consists of former auctioneers and a new car franchise owner with more than 30 years experience in vehicle auction re-marketing, according to a statement.

"400 Charter Way, Billerica, will undoubtedly prove to be an outstanding new location for Lynnway Auto Auction," said David Stubblebine. "It affords them excellent highway access, significant expansion potential and better accessibility to the most affluent suburban communities in the Greater Boston area."