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News: Front Section
Posted: December 17, 2021
Marcus Partners sells four-building portfolio to GCP/Modlo for $173 million - Newmark’s Capital Markets Team handled the sale
Brockton, MA Newmark has completed the $173 million sale of the Northeast Logistics Portfolio, a four-building warehouse/distribution portfolio located in suburban Massachusetts. Newmark co-head of U.S. capital markets Robert Griffin, vice chairman Edward Maher, executive managing directors Matthew Pullen, Tony Coskren, Ed Jarosz and Brian Pinch and managing director Samantha Hallowell of the firm’s Boston Capital Markets Group represented the seller, Marcus Partners, and procured the buyer, GLP Capital Partners, which operates through its fully integrated real estate platform, Modlo (GCP/Modlo). Newmark senior financial analyst Nick Revers provided financial analysis support.
Totaling more than one million s/f, the Northeast Logistics Portfolio includes 192 Mansfield Ave. in Norton, 100 Adams Rd. in Clinton and 132 Campanelli Dr. and 1010 West Chestnut St. in Brockton. The portfolio is presently 100% leased to 11 tenants.
“This transaction marks GCP/Modlo’s first acquisition in the Boston market,” said Pullen. “The portfolio serves as an exceptional entry into the region for the group given its high-quality physical infrastructure, strategic positioning in prime logistics locations and access to major distribution corridors.”
The Northeast Logistics Portfolio’s assets are well positioned along some of New England’s primary highway systems, including I- 90, 93, 95 and 495, and less than one hour from downtown Boston.
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