LYNN– Lynnway Park, the 17‑acre former Garelick Farms and West Lynn Creamery campus, has been sold to North River Company, LLC for $40 million.
The transaction ensures the sprawling industrial property along the Lynnway will remain in dedicated commercial use, even as nearby sections of the corridor continue shifting toward housing and recreation in Lynn.
North River Company President Christopher Flagg said the firm intends to build on that foundation in partnership with the City of Lynn and Mayor Jared Nicholson, adding that the prior ownership team’s improvements and job creation efforts have positioned the campus for continued success.
The site, once home to dairy operations for decades, has undergone a major transformation since Garelick Farms vacated the property in 2018. After changing hands in 2021 for $10.6 million, the campus was repositioned by Boston-area firms A.W. Perry and Foxfield, who invested heavily in upgrades and leasing efforts before selling it to the New York-based North River Company.
In recent years, the property that’s now branded as Lynnway Park has been visually and structurally revamped. A longtime rooftop truck display, once associated with Garelick Farms, now features updated site branding, while the formerly plain exterior has been enhanced with colorful murals, including a prominent “I love Lynn” message facing passing traffic.
Nicholson stated the project reflects broader progress across the city. “Lynnway Park has become a powerful symbol of what collaborative investment can achieve for our city,” he said. “The transformation of this site has brought new jobs, new opportunities, and new energy to our waterfront corridor.”
He added, “We’re grateful to A.W. Perry and Foxfield for their commitment to working closely with the community and the City to revitalize this high-profile vacant property, and we welcome North River Company as a partner in the next chapter. This is a moment of real momentum for Lynn and a reflection of the shared belief in our city’s future.”
The three-building, 252,000 square foot complex is now fully leased, according to A.W. Perry. It is a mix of industrial and service-oriented tenants such as Global Protection Corp., LSG SkyChefs, and Wash Cycle Laundry.
As stated by A.W Perry, since acquiring the property in late 2020, the ownership group implemented extensive improvements, including facade upgrades, roof replacements, removal of outdated wastewater infrastructure, and modernization of internal systems.
These changes helped draw a diverse group of growing companies and contributed to job creation in the area.
Leasing has been strong with more than 160,000 square feet filled across the campus in recent years, A.W Perry reported. A key milestone was the full occupancy by Global Protection Corp., which built out approximately 63,000 square feet of modern manufacturing space and now employs more than 80 workers on site.
The design of the space incorporates elements that nod to the property’s industrial past while supporting the work of Mayor Jared Nicholson, the planning department, and ownership.
“Lynnway Park has been a remarkable example of what can happen with the private sector and the community working together with a shared vision,” said Bob Maloney, Executive Vice President/Managing Director of Acquisitions at A.W Perry.
“Over the past five years, we’ve been proud to steward this property, invest in meaningful improvements, and create an environment where businesses can grow and people can build long-term careers. The transformation of this campus, the hundreds of jobs created, and the strong tenant mix that has taken shape reflect the City of Lynn’s leadership and partnership at every step,” Maloney continued.
He added, “We’re grateful for the collaboration from Mayor Nicholson, City Councilor Fred Hogan, the Planning and Economic Development Departments, and our neighbors, and we’re confident that North River Company will carry this momentum forward as Lynn’s waterfront continues to evolve.”
Other tenants have also expanded significantly. LSG SkyChefs continues to anchor the property’s industrial base, while Wash Cycle Laundry has grown to occupy 44,000 square feet and tripled its workforce over two years through a hiring model focused on second chances. Together, these employers have helped reposition Lynnway Park as a dynamic job center contributing to the city’s economic mix.
Foxfield Managing Partner Jeff Theobald emphasized the original vision behind the redevelopment, noting the team recognized an opportunity to convert a legacy industrial site into a thriving employment hub. He said strategic capital investments and an active leasing approach helped attract a wide range of tenants, strengthening the city’s economic base and setting the stage for future growth under the new ownership.
The sale was brokered by Frank Petz, Matthew Sherry, and Jack Barret of Colliers International.
