News: Front Section
Posted: January 12, 2024
CBRE arranges $49.5m sale of 326 Ballardvale to Oliver Street Capital
Wilmington, MA CBRE has arranged the $49.5 million sale of 326 Ballardvale St., a 187,589 s/f warehouse/distribution facility to Oliver Street Capital, in partnership with Bain Capital Real Estate.
The CBRE team of Scott Dragos, Chris Skeffington, Doug Jacoby, Roy Sandeman, Tim Mulhall, Tony Hayes and Dan Hines marketed the property and arranged the sale on behalf of the owner, Marcus Partners.
“Congratulations to Marcus Partners for executing its business plan for 326 Ballardvale St. flawlessly - buying a class A asset in a highly desirable location at an excellent basis, bringing low in-place rents up to market rate and executing the disposition, all in just four years,” said Sandeman of CBRE. “We are proud to have worked alongside the Marcus Partners team every step of the way. The Oliver Street Capital and Bain Capital Real Estate venture is adding another fantastic infill industrial asset to their portfolio and is expanding their presence in one of Boston’s tightest submarkets in 128 North. We’d like to congratulate, and thank, their collective team for executing on the acquisition, despite what has been a challenging capital markets environment.”
Located off I-93 near the Boston market, the 100% leased, class A, institutional quality warehouse/distribution facility at 326 Ballardvale St. features top-tier infrastructure and all the property specifications required by today’s most sophisticated industrial users, including 24-30’ clear height ceilings, ample loading docks, generous column spacing, significant power and additional trailer storage, among other features.
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