News: Front Section
Posted: December 30, 2016
Woodworth and Stewart of Savills Studley arrange $4.1 million sale of a 55,000 s/f distribution warehouse
Steve Woodworth, Savills StudleyWilmington, MA Savills Studley completed the sale of 3-11 Industrial Way, a 55,000 s/f distribution warehouse. The building was vacant at the time of sale, and was purchased for $4.1085 million by local investor Paul Richardson (formerly of Howland Development) under his new moniker, Bostonian Properties.
Steve Woodworth and Mark Stewart of Savills Studley’s Boston office represented the seller, JELLE, LLC; while the buyer was represented by Tyler Ewing of Newmark Grubb Knight Frank.
3-11 Industrial Way- Wilmington, MA“We advised our client to take advantage of virtually no logistics supply in the Route 128 North submarket at this size, a sweet spot in suburban Boston market for midsized users wishing to control an entire site,” Woodworth said. “Our team leveraged the building’s proximity to I-93 and Rte. 128, ample laydown areas and general good physical condition to create a competitive process and achieve a successful outcome for the owners.”
Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 29 offices in the U.S. and Canada, and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service. The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals and over 700 locations around the world.
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