Brockton & Main LLC is converting the former Micro Wire wholesale and distribution center in Brockton, Mass., to self-storage. The company purchased the property at 120 N. Main St. for $2.6 million, according to NAI Hunneman, the Boston-based real estate firm that brokered the sale.
The building, built in 1950, is about an hour south of Downtown Boston and within 45 miles of Providence, R.I., according to a source. Once the renovation is complete, the storage facility will comprise 75,000 square feet of climate-controlled space.
Micro Wire recently relocated to an 18,000-square-foot property at 5 Mear Road in Holbrook, Mass., after operating out of the Brockton location for more than two decades. The company now outsources much of its production to manufacturers in China, according to Jeff Weafer, president. It imports store fixtures, displays, shelves and clothing-donation bins, selling them wholesale.
The buyer and the seller were represented in the transaction by Sean Hannigan, associate, Cathy Minnerly, executive vice president, and Ovar Osvold, vice president, for NAI Hunneman. The seller struggled to find a buyer seeking a generic manufacturing plant, Osvold said.
“Through extensive market due diligence, we were able to identify the optimal redevelopment for the site, and that turned out to be a brand new, fully climate-controlled self-storage facility,” he added. “The location’s demographics, traffic counts and overall market demand was the perfect match.”
Based in Provo, Utah, Brockton & Main is managed by Patagon Ventures LLC.
Sources:
The Enterprise, Brockton Business Moves to Holbrook After $2.6 Million Property Sale
Commercial Property Executive, Boston-Area Industrial Asset Trades for $3M
