Local Group Buys 17,000-SF Industrial Asset

DANVERS, MA-A warehouse property located on Route One here just north of Boston has been sold to a local investor. Two Electronics Ave. traded for $2.5 million, according to brokers handling the transaction.

The 17,000-sf building was sold by Rauseo & Co. to Matthew Piccione, reports broker Stephen Nohrden of Burgess Properties in Malden. Piccione is a Winchester-based developer and investor and also owner of the Kendall Relocating Co. Nohrden could not say whether the fully leased property will be repositioned going forward. Efforts to contact Piccione by press deadline were unsuccessful.