News: Front Section
Posted: September 30, 2022
Kassin, Schechtman, DellAnno, and Gladstone of Meridian handle $10.75 million sale leaseback
Billerica, MA New York-based IG Logistics LLC and Meadow Partners, an institutional middle-market real estate investor, have acquired a 58,400 s/f warehouse situated on 3.2 acres for $10.75 million in an off-market transaction. Located at 12 Esquire Rd., the property is 100% leased by SSG Pools. Meridian Capital Group’s Abie Kassin, David Schechtman, Connor DellAnno, and Brian Gladstone negotiated a sale leaseback and represented both the buyer and seller in the transaction.
IG Logistics LLC, Imperium Capital’s industrial platform, is an owner/operator of industrial properties that have a large outdoor storage or transportation component. The company specializes in acquiring and developing infill assets in high barrier to entry, urban growth markets where demand for logistics real estate is driven by e-commerce.
The property is located 20 miles north of Boston near the confluences of I-495, I-95, and Rte. 3, offering access to the New England area. The town is one of Boston’s strongest industrial submarkets with rapidly growing rents and low vacancy rates. Other existing industrial sites and buildings in the immediate area host a variety of pharmaceutical, logistics and warehousing businesses, such as FedEx, Copart, and UPS.
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