News: Front Section
Posted: January 2, 2008
Herlihy, Lashar, Bradbury and Leone of RBJ complete $20.3m sale
Richards Barry Joyce & Partners, LLC (RBJ),has brokered the $20.3 million sale of Franklin Commerce Center, at 20 Freedom Way on behalf of Suffolk Freedom Way, LLC. The building was purchased by Realty Associated Advisors, LLC.
Built in 2003, Franklin Commerce Center is a 223,450 s/f industrial/distribution building, located within the Franklin Industrial Park. The facility features 32 loading docks, 36' clear heights, and is occupied by credit tenants such as Owens & Minor, Inc., Lindenmeyr Munroe, and Dealer Tire, LLC. Located less than half of a mile from I-495, the building is one of the most well located and well designed high-bay distribution facilities in the region.
"Given the building's strong credit tenants, location and amenities, we witnessed a very high level of institutional investor interest in this sale," said Richard Bradbury, vice president, Richards Barry Joyce & Partners. "Investor interest in industrial product on I-495 South has been consistently strong throughout 2007 and looks to remain that way heading into 2008."
Richard Herlihy, John Lashar, Richard Bradbury and Paul Leone of RBJ represented the seller and procured the buyer. Realty Associated Advisors has named RBJ the exclusive leasing agent for Franklin Commerce Center.
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