Photo courtesy of Google Maps

Developer Marcus Partners expanded its Greater Boston industrial portfolio with the $13.35 million acquisition of a two-building portfolio in Billerica and Lowell.

The fully-leased properties at 263 Industrial Ave. in Lowell and 27 Sterling Road in Billerica span 180,000 square feet. The acquisition is a partnership with Rhino Capital Advisors. The off-market transaction expands Marcus Partners’ industrial portfolio in Greater Boston to over 2.5 million square feet at 13 buildings.

“The supply/demand imbalance for well-located industrial assets in the Greater Boston market continues to be a high-conviction investment theme for us. This portfolio was acquired on an off-market basis at a significant discount to replacement cost,” Ryan McDonough, Marcus Partners’ Boston Regional Director, said in a statement.

The 76.7-million-square-foot north industrial market currently has the highest average asking rents for warehouse and distribution space in the Boston suburbs at $8.57 per square foot, according to a fourth-quarter research report by Newmark Knight Frank. The north market’s 4.7-percent vacancy report is the lowest among both suburban and urban submarkets.