News: Front Section
Posted: October 30, 2015
Jumbo Capital Management, LLC and Rhino Capital purchase 91,000 s/f building from Sullivan Tire and Auto Service Company for $5.45 million
West Bridgewater, MA Jumbo Capital Management, LLC (Jumbo) and Rhino Capital (Rhino) together acquired a 91,000 s/f facility, located at 393 Manley St. The property sits on Rte. 24.
393 Manley Street - West Bridgewater, MAPurchased from Sullivan Tire and Auto Service Company, the facility boasts high ceilings, ample parking and an abundance of flat yard space. Jumbo and Rhino partnered to secure the former tire company headquarters for $5.45 million. The team plans to immediately make significant upgrades to the facility in this popular business corridor. Market history indicates that the Rte. 24 corridor is experiencing increased demand from a number of sectors given its proximity to businesses and hospitals with its deep labor pool.
“We are pleased to add this asset to our growing portfolio and are confident that its location and access to Rte. 24, abundance of parking and adjacent flat land, will make it an ideal New England headquarters for a local or national logistics company,” said Bradford Spencer, partner at Jumbo.
393 Manley Street - West Bridgewater, MAJumbo has recently made its mark as the most active buyer in the Greater Boston mid-city market, adding almost 800,000 s/f to its portfolio in the last year. The notable acquisitions in the past 12 months include 150 Royall St. in Canton, 100 Crosby Dr. in Bedford and 1900 Crown Colony in Quincy. In addition, Jumbo purchased a Norwood facility two weeks ago to convert to self-storage.
Jones Lang LaSalle represented the Jumbo and Rhino team and Sullivan Tire and Auto Service was represented by Donahue Associates.
Based in Quincy, Jumbo Capital Management is a privately held commercial real estate investment firm committed to providing exceptional real estate services. One of, if not the most active buyers in the Greater Boston market, closing on almost 800,000 square feet in the last year, Jumbo deals in all classes of real estate, with an expertise in leveraging distressed and under-performing assets. Jumbo currently owns 18 assets throughout the Boston area with over 2 million s/f.
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