Chelmsford, MA – Manzo Freeman Development (MFD), a privately-owned commercial real estate firm, announced it has acquired The Landing at Chelmsford Mills for $14.85 million from Chelmsford Holdings.
Located at 51 Middlesex St. #125 in North Chelmsford, the property includes three buildings totaling 285,000 GSF. This is the fifth mill property in MFD’s portfolio, joining The Landing at Hudson Mills in Hudson, Mass.; The Landing at Everett Mills in Lawrence, Mass.; The Landing at One Chestnut in Nashua, N.H.; and the Walpole Business Center in Walpole, Mass. To date, MFD manages almost two million sq. ft. of first-class space across five properties at value-added rates in New England.
“Acquiring our fifth classic mill building in New England marks another significant step in our journey as property owners and developers. These properties hold a unique charm that resonates with us and our vision, and we are proud to preserve these historic structures,” said Michael K. Manzo, managing partner and president. “The synergy between nostalgia and progress is at the core of our approach. By having the vision and creativity to invest in and improve these buildings, we hope to attract a wide mix of businesses to create a diverse and supportive commercial community while allowing the buildings to flourish for another generation.”
Built in 1890 by the U.S.W. Corporation as a wool combing mill called Silesia Mills, the buildings were renovated in 1970. Chelmsford Mills features 13-14-foot-high ceilings, brick and beam interiors, original wood floors, large windows delivering ample natural light, solar arrays, and expansive surface parking.
Tenants at MFD properties include conventional office, retail and restaurant, health and wellness, research and development, light manufacturing, and warehousing and distribution, among others.
At the date of the acquisition at the end of June, 97% of the building was leased. MFD plans to upgrade the three buildings with new signage and entrances as well as improvements to common areas, exterior grounds and landscaping, and parking lots. New on-site food and beverage establishments will be added to serve tenants and the surrounding community. The property is less than an hour from Boston, is located on the Lowell bus line, and has convenient access to Route 3 and I-495.
