Boston, MA

CBRE Arranges $160 Million Sale of Eight-Building Industrial Portfolio in Southeast Massachusetts

June 8, 2022

81 Commerce

CBRE today announced it has arranged the sale of the Southeast MA Industrial Portfolio comprising of eight buildings totaling 1,277,045 sq. ft. Arden Logistics Parks acquired the assets for a sale price of $160 million.

The CBRE team of Scott Dragos, Chris Skeffington, Doug Jacoby, Anthony Hayes, Tim Mulhall, Roy Sandeman and Dan Hines spearheaded the marketing campaign and arranged the sale on behalf of the seller, Westbrook Partners.

The portfolio’s geographic locations across Southeast Massachusetts offered regional connectivity and immediate proximity to the growing population base in Boston as well as the broader New England region. At the time of sale, the portfolio was 97.2% leased to a diverse mix of 23 tenants, including Nestle, T-Mobile, Displays2Go, and Whirlpool, among others.

“The Southeast MA Industrial Portfolio represented a unique opportunity for Arden Logistics Parks to acquire a critical mass of industrial assets that combined stabilized cash flow with the ability to capitalize on the mark-to-market of rents in one of the highest growth industrial markets in the country,” noted Sandeman.

“Driven by the unique supply/demand imbalance, Greater Boston continues to be one of the hottest industrial markets in the country, and we look forward to watching Arden Logistics Parks capitalize on the continued record rent growth in our market,” added Dragos.

The portfolio is located at 60 Maple Street, Mansfield, MA; 81 Commerce Drive, Fall River, MA; 55 Samuel Barnet Boulevard, New Bedford, MA; 45 Vineyard Road, Seekonk, MA; 20 Townsend Road, Attleboro, MA; and 10, 15 & 50 Commerce Drive, Norton, MA.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.