Realterm announces the acquisition of a four-property, high flow through portfolio in the greater Boston market, totaling 544,000 square feet. The properties include: 130 Eastern Avenue in Chelsea, 750 Everett Street in Norwood and 30 Commerce Boulevard and 61 Leona Drive in Middleborough. Each property in the portfolio has an efficient combination of loading and excess parking and is located in a key distribution node within the Boston market.
“The portfolio represents a unique opportunity to expand our footprint of high flow-through assets in a key national market. Each property stands on its own offering differentiating loading or excess parking capacity,” said Ben Andreycak, Vice President, Eastern Region Acquisitions, Realterm. “The investment is a continuation of Realterm’s strategy of acquiring the most functional supply chain properties across the country in key infill locations.”
“E-commerce retailers are under growing pressure to increase their capacity and to speed direct-to-consumer deliveries. The demand for ‘last-mile’ warehouse/distribution facilities in densely-populated Boston suburbs has been accelerated by the COVID-19 pandemic,” added Andreycak. The four properties are in strategic locations that provide superior proximity to major distribution corridors including Interstates 90, 93, 95 and 495, densely-populated residential communities and synergistic industrial users. The greater Boston region includes 216 million square feet of industrial inventory which boasts a history of strong performance that predates the COVID-19 pandemic.
“We are excited to add these best-in-class properties to our RLIF open-ended fund after an expedited deal timeline,” said Derek Fish, Vice President, U.S. Acquisitions, Realterm. “Realterm’s longstanding expertise and commitment to acquire infill, high flow through assets enabled us able to smoothly evaluate, conduct due diligence and close this large portfolio in a top tier market.”
Newmark’s Rob Griffin, Brian Pinch and Matt Pullen represented the seller and facilitated the transaction.
|Highlights of 130 Eastern Avenue, Chelsea, MA:
||Highlights of 750 Everett Street, Norwood, MA:
|Highlights of 30 Commerce Boulevard, Middleborough, MA:
||Highlights of 61 Leona Drive, Middleborough, MA: