News: Front Section
Posted: June 19, 2020
CBRE Capital Markets handles three sales totaling $46.87 million
Westford, MA CBRE completed the sale of three commercial properties in the Greater Boston area totaling $46.87 million. In April, the CBRE Boston Capital Markets team represented the sellers and procured the buyers of 3 & 5 Carlisle Rd. in Westford, 267 Boston Rd. in Billerica, and 201 Crescent Ave. in Chelsea.
“We’re delighted to have worked with some of the most active owners in Greater Boston on these transactions,” said CBRE’s Scott Dragos. “The timing in which these three deals were completed speaks to the perseverance from all of the individuals involved, as well as the underlying fundamentals of office and industrial space in Greater Boston, even during the current economic state.”
3 & 5 Carlisle Rd. is a 100% leased corporate center spanning 167,881 s/f. The RAM Companies acquired the property from Curo Enterprises for $24.5 million, citing the in-place yield and long weighted average lease term as factors that influenced the decision to purchase.
267 Boston Rd. is a 97,111 s/f industrial property that traded for $11.97 million to Jumbo Capital Management from the RAM Cos. Jumbo purchased the building in an effort to capitalize on the growing demand for industrial space in the area and were particularly attracted to the property’s diversified tenant rent roll and highly functional space with the capacity to accommodate a variety of industrial uses.
201 Crescent Ave. is a 31,826 s/f industrial property that is currently 100% leased to Shore Educational Collaborative for a 15-year term. As an active industrial buyer throughout Greater Boston, Calare Properties purchased the site from the Seyon Group for $10.4 million and were attracted to the property’s location, condition and long-term in-place lease.
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