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September 20, 2021

Morgan Stanley buys 21-acre Nypro warehouse in Devens for $85M

Photo Courtesy Calare Properties An expansive warehouse in Devens sold for $85 million to Morgan Stanley.

A 402,249-square-foot warehouse on Barnum Road in Devens, which houses several manufacturing companies, was sold for $85 million to multinational investment bank Morgan Stanley, according to the Worcester County Registry of Deeds.

The corporation purchasing the property is registered to the office of Morgan Stanley Real Estate Advisor, Inc. in Atlanta, Ga., per the deed.

It was sold by Maryland-based Artemis Real Estate Partners, which have owned the roughly 21-acre property since 2015, according to Devens’ assessors data.

The property was previously home to Evergreen Solar Inc. of Marlborough, which closed its plant in 2011. After shutting down the plant, Evergreen sold the Devens property to a Los Angeles real estate investor, Hackman Capital Partners, for $4.2 million in 2012.

Since then, Florida manufacturer Jabil, Inc., formerly known as Nypro, has set up shop in the warehouse, according to its website.

Assessed at almost $18.5 million, the parcel last sold for about $35 million six years ago.

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