News: Front Section
Posted: April 15, 2016
Petz, Hughes, Borden and Gregory of JLL handle sale of 154 Campanelli Dr. - $19.75m
154 Campanelli Drive, Middleborough, Mass.Middleborough, MA On behalf of a separate account client of AEW Capital Management, L.P., JLL’s Capital Markets experts completed the sale of 154 Campanelli Dr., a class A industrial warehouse. Novaya purchased the 275,000 s/f facility, for which JLL also serves as the exclusive leasing agent. According to public record the property sold for $19.75 million.
Managing directors Frank Petz and Jessica Hughes, vice president Robert Borden, and associate George Gregory led the JLL team on the transaction, while senior vice presidents Heather Brown and Jon Schneider secured financing.
154 Campanelli Dr. has 225,000 s/f of class A warehouse featuring 36 ft. clear heights, 40 loading docks, and 43.5’ x 40’ column spacing. The property also features a 50,000 s/f office component.
The 275,000 s/f facility is 100% occupied by alphabroder, the leading distributor of imprintable activewear in North America.
Petz said, “154 Campanelli Dr. is one of only a select few buildings within Boston’s tightening south industrial market that has both greater than 200,000 s/f and a 32’ clear height. The offering presented an opportunity to acquire a best in class asset with an absolute net lease that provides attractive and secure cash flow.”
Located within Campanelli Business Park, 154 Campanelli Dr. is less than one mile from I-495 and 30 miles from both Boston and Providence. Other notable tenants in the park include Christmas Tree Shops, Trader Joe’s and Serta Mattress.
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