News: Front Section
Posted: June 28, 2019
Cabot Properties purchases 327,237 s/f property for $33.6 million - arranged by NKF team for buyer and seller, Colony Capital
Milford, MA Newmark Knight Frank (NKF) has completed the $33.6 million sale of 12 Industrial Rd. to Cabot Properties. On behalf of Colony Capital, vice chairman Edward Maher, executive managing directors Matthew Pullen and James Tribble and director Samantha Hallowell of NKF’s Boston Capital Markets team – which is led by co-head of U.S. Capital Markets Robert Griffin – oversaw the transaction in conjunction with NKF executive managing directors Ed Jarosz, Rick Schuhwerk, Anthony Coskren and J.R. McDonald and managing director Brian Pinch.
Totaling 327,237 s/f, 12 Industrial Rd. is presently 94% leased to Amazon, Anixter and Green Mattress.
“12 Industrial Rd. is a highly functional, mission-critical facility,” said Pullen. “The asset benefits from the ‘e-commerce effect,’ in which a supply chain shift toward same-day deliveries is driving demand for ‘last-mile’ logistics facilities near major population centers.”
12 Industrial Rd. is located between the key city centers of Boston (40 miles away) and Providence (35 miles away). Located within an established business hub at the intersection of I-495 and Rte. 109, the asset features access to local and regional distribution corridors.
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