JLL Capital Markets arranges sale of 300 Willow Street and 125 Flagship Drive
News release
10 July 2025
The Seyon Group acquires strategic industrial assets in North Andover for $12.5M
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BOSTON, July 10, 2025 – JLL Capital Markets announced today the $12.5 million sale of 300 Willow Street and 125 Flagship Drive, a two-building light industrial/flex portfolio totaling 80,477 square feet in North Andover, Massachusetts.
JLL represented the seller in the sale to The Seyon Group.
Built in 1986, the 50,893-square-foot building located at 300 Willow St. sits on 15.73 acres with 16-foot clear heights, eight tailboard loading docks, one drive-in door and 170 parking spaces. The building is 75% leased to three tenants. Additionally, 125 Flagship Drive was constructed in 1988 and renovated in 2017. This 29,584-square-foot building occupies 5.79 acres with 16 to 24-foot clear heights, one tailboard loading dock, one drive-in door and 46 parking spaces.
The portfolio is 85% leased to four tenants, which spans diverse industries including healthcare services, corporate furniture installation, plastic fabrication and supercritical fluid extraction.
The portfolio is strategically positioned in the North submarket, one of Massachusetts' highest-performing industrial areas, due to its advantageous location between Southern New Hampshire and Boston. This prime positioning provides tenants with access to an unparalleled pool of blue-collar workers and streamlined connectivity to major highways.
"The North submarket continues to outperform Greater Boston industrial metrics in both vacancy and rent growth," said Michael Restivo. "The portfolio's strategic location combined with significantly below-market rents provides the new ownership with substantial near-term upside as leases roll while benefiting from the market's diverse tenant base that extends well beyond traditional e-commerce and logistics users."
The JLL Capital Markets Investment Sales and Advisory team was led by Managing Directors Michael Restivo and Brian Tisbert, along with Directors David Coffman and Tommy Hovey.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Seyon
The Seyon Group is a Boston-based industrial real estate investment firm focused on acquiring Class B industrial assets in supply-constrained, infill markets across the Northeast United States—specifically the greater Boston, greater Philadelphia, and Washington, D.C. areas. Founded in 2017 by Bryan Blake and Andrew Iglowski, Seyon targets well located, functionally sound assets in strategic locations with long-term demand drivers and limited new supply.