CBRE Arranges $154M Sale of Industrial Portfolio in Metro Boston
WILMINGTON, MASS. — CBRE has arranged the $154 million sale of an eight-building, 687,000-square-foot industrial portfolio in Wilmington. The properties were 96 percent leased at the time of sale to 27 tenants including Crate & Barrel, Energy Sciences, 3Step Sports and Altro USA Inc.
A joint venture between Boston-based Oliver Street Capital and Bain Capital Real Estate acquired the portfolio, which spans 49 acres.
The buildings are located at 21, 42, 65 and 80 Industrial Way; 42 and 80 Rear Industrial Way; 1 Progress Way; and 844 Woburn St., four miles north of the Interstate 95-93 interchange and 17 miles north of Boston Logan International Airport.
Scott Dragos, Doug Jacoby, Chris Skeffington, Tony Hayes, Tim Mulhall, Roy Sandeman and Daniel Hines of CBRE represented the seller, I. Fred Dicenso Trust LLC, in the transaction.
“Boston is a target market on all investors’ radar right now, and it’s not very often a true infill industrial cluster becomes available,” says Dragos. “What this portfolio uniquely offered was its scale, location, proximity to I-93 and market opportunities.”
— Alex Tostado