News: Front Section
Posted: February 19, 2021
FoxRock acquires 264,000 s/f 774 Norfolk St. and 20,500 s/f 267 Libbey Parkway
Mansfield, MA FoxRock, a Quincy-based commercial real estate investment and development firm, purchased 774 Norfolk St. and 267 Libbey Parkway in Weymouth. These acquisitions signify the continued expansion of FoxRock’s diverse real estate portfolio. The details of the purchases were not disclosed.
FoxRock’s portfolio now encompasses 4 million s/f of real estate. The portfolio comprises a broad set of properties across office, medical office, biotech, industrial, retail, and academic asset classes. FoxRock is also actively participating in the rapid revitalization of Quincy Center, with a significant development pipeline.
774 Norfolk St. is a 246,000 s/f light industrial CGMP certified facility with up to 32’ clear height served by rail. The property is 100% leased through February 2032 to Hub Folding Box, a premier printing and folding carton company producing innovative packaging for leading consumer product companies.
267 Libbey Parkway is a 20,500 s/f industrial facility with logistics and distribution characteristics that are in high demand. The property is 100% leased through June 2023 to publicly traded food service company, Compass Group USA, Inc. (d.b.a. Atlantic Coffee). This acquisition also complements FoxRock’s existing presence on Libbey Parkway, where they own multiple properties.
Newmark represented the seller on the Mansfield deal, and The Conrad Group represented the seller on the Weymouth deal.
“We were able to grow our portfolio in 2020 despite limited capital markets activity, and we remain committed to growth in 2021 and beyond.” said Bryan Giudicelli, FoxRock’s director of business development.
“We will be focusing our acquisition efforts across multiple asset classes and into the broader New England market. We have traditionally focused on the suburbs, which has performed fairly well during the pandemic, and we will continue to invest in new locations in the suburbs as well as major cities across New England.”
“We are excited to welcome Atlantic Coffee and Hub Folding Box to the FoxRock family,” said Mark Carroll, Managing Director of Operations and Asset Management at FoxRock, “and we look forward to helping support their businesses in any way we can.”
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