News: Front Section
Posted: March 17, 2023
Osvold, Hannigan and Brawley of Colliers broker two warehouse leases totaling 130,000 s/f
Avon, MA Colliers has arranged two industrial leases at 54 Bodwell St. and 61 Strafello Dr. totaling more than 130,000 s/f. Colliers completed both transactions on behalf of the landlord, DH Property Holdings. Colliers also represented both tenants; DCNE, a wholesale HVAC distributor, and Navisun, a solar power producer. A Colliers team led by Ovar Osvold, Sean Hannigan and Kevin Brawley arranged the deals.
DCNE will occupy a full, 70,337 s/f warehouse at 54 Bodwell St. Located on a 4.64-acre lot in an industrial zone, the modernized space features a total of 13 loading docks, including two drive-in docks, ample power, and a fully functioning customer showroom.
Navisun leased the entire, 60,282 s/f facility at 61 Strafello Dr., which is located in the same industrial park as the property on Bodwell St. The property was recently upgraded to provide the tenant modern features needed for their operation.
The Colliers team completed the transactions as industrial sector fundamentals remain healthy in the Greater Boston area, with vacancies below the 10-year average, according to the latest Boston industrial market report from the company.
“We are thrilled to have finalized both of these lease transactions for DH Property Holdings,” said Osvold, executive vice president at Colliers. “Both DCNE and Navisun had their own specific needs when it came to finding the ideal space, and we were fortunate to have been able to identify and execute the right deals for both groups.”
“We’re excited to see that two of our leading warehouse locations will be home to industry leaders like DCNE and Navisun,” said Dov Hertz, president DH Property Holdings. “We also would like to thank the team at Colliers for their professionalism and for engaging with both us and DCNE and Navisun to make the deals as smooth as possible. We continue to believe in the strength of the class B market in Greater Boston, with a supply that has declined by nearly 5% since 2008, and a sub-4% vacancy rate for the past 28 quarters.”
Both properties are located within a 30 minute drive to Boston. The warehouses are also within close proximity to I-93, connecting the location to Vermont, New Hampshire and the New England region.
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