News: Front Section
Posted: October 15, 2021
JLL Capital Markets closes sale and arranges financing for 60 Winter St. - 47,915 s/f building
Malden, MA JLL Capital Markets has closed the sale of and arranged acquisition financing for a fully leased, 47,915 s/f, single-tenant light industrial distribution and manufacturing facility at 60 Winter St. The sale and financing amounts were not disclosed.
JLL represented the seller, Eastern Real Estate, which sold the property to Boston-based Novaya Real Estate Ventures. Additionally, JLL placed the five-year, fixed-rate acquisition loan with Middlesex Savings Bank.
Fully leased to Enjet Aero, 60 Winter St. serves a mission-critical role in the manufacturing and distribution of custom turbine and jet engine components. The facility was originally constructed in 1958 and features steel construction, clear heights ranging from 14.5 to 30 feet, three dock doors, two drive-in doors and ample parking. Over the last few years, Enjet Aero has significantly invested in building improvements.
60 Winter St. is 10 minutes north of downtown Boston. This accessible location is proximate to major interstates, public transportation and Logan International Airport, in addition to the six other facilities Enjet Aero has across the country.
The JLL Industrial Capital Markets team that represented the seller was led by senior director Michael Restivo. Senior director Jonathon Schneider led the financing on behalf of the buyer.
“This transaction offered a rare opportunity to own an exceptionally located urban infill industrial asset occupied by a long-term stable tenant that has been at this location for over 60 years,” Restivo said.
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