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Novaya Buys Peabody Industrial Property For $8.1M

Aug 31, 2015 | Reprints | Unlock Link | Print

Boston-based Novaya Real Estate Ventures LLC and Hall Royce LLC of Manchester have acquired 1 First Ave. in Peabody for $8.1 million.

The 134,732-square-foot warehouse in Centennial Park is 100-percent leased to Schwartz & Benjamin, Analogic Devices and S.G. Torrice.

Cushman & Wakefield represented the seller, Paradigm Properties of Boston.

In a statement, Novaya Principal Jeff Theobald said the acquisition fits the company’s strategy of buying well-located warehouses that perform well through market cycles. Earlier this year, Novaya acquired 57 Littlefield in Avon and 326 Ballardvale in Wilmington.

Commercial & Industrial