Cyrier of Mansard Delivers $5.36M for Long-Standing Woburn Cold Storage Facility

WOBURN — MANSARD Commercial Properties announced the successful closing of 16 Conn Street in Woburn, Massachusetts, a 53,319-square-foot industrial building that sold for $5,356,000.

The property, which served as the longtime operating home of Dole & Bailey, a multi-generational food processing and cold storage business, was delivered vacant at closing. The facility sits on 4.05 acres and features 10 loading docks, two drive-in doors, integrated refrigeration systems, and flexible industrial zoning — offering the buyer significant repositioning potential for manufacturing, logistics, food processing, life science support, or distribution operations.

The sale was led by Jeremy Cyrier, CCIM, CRE, President of MANSARD Commercial Properties. Cyrier said rather than rushing the property to market, MANSARD conducted a full pre-sale strategic asset evaluation before a single buyer was contacted — identifying the right buyer profiles, analyzing submarket supply and demand dynamics, and building a national marketing campaign designed to generate real competition.

“This was not a standard industrial listing,” said Cyrier. “Cold storage and food processing infrastructure narrows the buyer pool significantly. Our job was to reposition the asset — not as a cold storage building looking for a food user, but as a rare, infrastructure-rich industrial property in one of the most supply-constrained corridors north of Boston. The strategy made the difference.”

The property was marketed through a national exposure campaign and online auction process, attracting interest from owner-users, investors, and redevelopment groups across the region.

The transaction reflects the underlying strength of the Woburn industrial market despite broader regional softness. According to CoStar’s Q2 2026 Boston Industrial Market Report, the Wilmington/Winchester submarket — which includes Woburn — is the third largest industrial market in Greater Boston with over 30 million square feet of inventory. The submarket posted 2.4% year-over-year rent growth in 2026, ranking fourth highest among all 34 Boston-area industrial submarkets. Only 46,000 square feet of new industrial space was delivered in the submarket over the trailing 12 months, with just 182,000 square feet currently under construction — one of the most constrained supply pipelines in the region.

Jeremy Cyrier