NEWBURYPORT — The longtime home of Journeyman Press in the industrial park was recently sold to a private investor for $4,250,000, according to commercial real estate brokerage firm Marcus & Millichap.
The sale of 11 Malcolm Hoyt Drive, a 38,500-square-foot facility built in 1986, was announced on Oct. 23.
It is fully occupied by Journeyman Press, a commercial printing, marketing, and mail house servicing various industries. The metal building features drive-in loading and ample parking.
“We had a robust market process for this asset with 10 qualified offers. This is a testament to the quality of this industrial park, which has one of the lowest vacancy rates in New England,” said Harrison Klein, first vice president of investments for Marcus & Millichap.
A check of the city’s assessor’s database shows the property was owned by Johnson F&R, H&H A Trust of Amesbury. It was most recently assessed at $2,460,800 and last sold in May, 1986.
Founded in 1980 as Letchmere Lithograph, the name was changed to Journeyman Press in 1987 when Steve Silverstein came on as president. Today, the company is owned by Dana Thoms having taken over as owner in 2014, according to the company’s website.
A phone call to Journeyman Press, which belongs to the Greater Newburyport Chamber of Commerce and Industry, seeking comment was not immediately returned.