News: Front Section
Posted: June 10, 2022
JLL Capital Markets closes on $31.4 million sale-leaseback of the 85,000 s/f facility at 220 Hopping Brook Rd.
Holliston, MA JLL Capital Markets has closed the $31.4 million sale-leaseback of the 85,000 s/f, manufacturing facility at 220 Hopping Brook Rd.
JLL marketed the property on behalf of the seller, Web Industries, who executed a 10-year sale-leaseback at market rent upon sale. Lincoln Property Company, in partnership with Stockbridge, acquired the asset through a very competitive bidding process.
220 Hopping Brook Rd. was originally built by Web Industries and has been their greater Boston home for more than 20 years. Web Industries is a 100% employee-owned company and market-leading provider of comprehensive outsource manufacturing and precision converting services in the aerospace, medical, personal and home care sectors. The building has served as a mission-critical part of the tenant’s operation, and they have invested significant capital into its transition from a traditional manufacturing facility into a GMP-ready asset with BSL-2 lab space, dry rooms, mezzanine and more.
Positioned on 13.47 acres, 220 Hopping Brook Rd. is well located within Holliston’s premier industrial park. This location provides easy access to both I-495 and I-90 and gives tenants in the park a deep bench of nearby talent from which to recruit.
The JLL capital markets investment sales advisory team was led by senior directors Michael Restivo and Martha Nay and director Lenny Pierce, with support from JLL brokerage’s managing director Neil Ross.
“This was an excellent opportunity for Lincoln to acquire a class A manufacturing facility, while Web Industries was able to cash in on a hot industrial market to reinvest money back into their core manufacturing business,” Restivo said.
Tags:
Front Section
MORE FROM Front Section
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
.png)
Columns and Thought Leadership
Make PR pop by highlighting unique angles - by Stanley Hurwitz
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.
Four tips for a smooth 1031 Exchange - by Bill Lopriore
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
