Boston-Area Industrial Portfolio Commands $154M

The eight-building collection of properties is 96 percent leased to 27 tenants.
65 Industrial Way. Image via Google Street View
Oliver Street Capital and Bain Capital Real Estate have acquired an eight-building industrial portfolio in Wilmington, Mass., for $154 million. CBRE represented the seller, I. Fred Dicenso Trust. In November 2020, Oliver Street and Bain Capital also purchased a 26,500-square-foot warehouse in Boston’s Newmarket District.
The 687,000-square-foot portfolio includes:
  • 21 Industrial Way; 17,462 square feet; built in 1973
  • 42 Industrial Way
  • 65 Industrial Way; 90,756 square feet; built in 1966
  • 80 Industrial Way; 230,807 square feet; built in 1970
  • 42 Rear Industrial Way
  • 80 Rear Industrial Way
  • 1 Progress Way; 97,478 square feet; built in 1978
  • 844 Woburn St.; 59,986 square feet; built in 1979

The portfolio is 96 percent leased to 27 tenants. The roster includes Crate & Barrel, Energy Sciences, 3Step Sports and Altro USA, Inc., among others.

Located on 49 acres, the properties are within 3 miles of a junction of interstates 93 and 95. Downtown Boston is within 14 miles from the buildings.

CBRE’s team included Scott Dragos, Doug Jacoby, Chris Skeffington, Tony Hayes, Tim Mulhall, Roy Sandeman and Daniel Hines. Recently, CBRE also represented the seller of a 269,500-square-foot industrial property in Southern New Jersey. The asset traded for $22 million.