News: Front Section
Posted: January 15, 2021
The Davis Cos. acquires 181,900 s/f industrial building for $28.6 million
Taunton, MA The Davis Companies (TDC) has completed its acquisition of a 181,900 s/f, Class A industrial building located at 530 John Hancock Rd., for $28.6 million.
Located within the master-planned Myles Standish Industrial Park, the property is 100% occupied by DHL Supply Chain, the third largest logistics company in the U.S., which uses the facility to provide third-party logistics services for MilliporeSigma, a leading life sciences firm. Among the features offered by the building are 32-foot clear heights, two-sided loading that allows for multi-tenant functionality, an early suppression, fast response (ESFR) sprinkler system, and generous truck courts that provide for excess trailer storage. The building also includes 6,000 s/f of cold storage space, a feature which continues to be in short supply and in increasingly high demand by Boston’s life science industry.
“We are thrilled to add 530 John Hancock Rd. to our growing portfolio of well-located industrial properties in the greater Boston area,” said Sean Coffey, senior vice president of investments at TDC. “This property benefits not only from its access to Rtes. 495, 95 and 24, just south of Boston, but also the growth in demand for light manufacturing and distribution fueled in part by the life science industry in greater Boston.”
In addition to this facility, TDC has acquired over the past year three additional industrial and logistics sites slated for redevelopment in greater Boston, including two properties in the city of Everett and a complex of buildings just west of Boston in Watertown.
TDC is an integrated real estate investment, development and management firm headquartered in Boston that has invested more than $7.2 billion in gross asset value through real estate equity, debt and fixed-income securities.
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