News: Front Section
Posted: September 9, 2022
Cushman & Wakefield arranges $107.5 milion sale of Yard 5 for First Highland Management & Development
Boston, MA Cushman & Wakefield has arranged the sale of Yard 5, a three-building industrial portfolio totaling 196,000 s/f located on Industrial Dr. The sale price was $107.5 million.
Cushman & Wakefield’s Dave Pergola, Brian Doherty and Pete Rogers, with help from local leasing specialists Rob Byrne and Jim Murphy, represented the seller, First Highland Management & Development, in the transaction. The property was acquired by Intercontinental Real Estate Corp.
“Yard 5 features best-in-class new construction that allows for a myriad of uses including warehouse, flex and R&D,” said Doherty. “The transit-oriented portfolio is well-positioned to capture rental growth upside and is currently 100% leased to a diverse and strong credit rent roll.”
Yard 5 consists of three buildings totaling 196,000 s/f of high-bay industrial and research space featuring 28-foot clear heights. In addition to the three existing buildings, the portfolio includes two land parcels totaling seven acres.
Yard 5 is located at the MBTA’s Readville station just south of the city with access to I-95 and Rte. 128, providing connection to all major thoroughfares.
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