JLL Brokers $12M Boston Warehouse Sale
- Nov 12, 2020
JLL Capital Markets has facilitated the $12.3 million sale of a 26,500-square-foot warehouse in Boston’s Newmarket District. Director Michael Restivo negotiated on behalf of the seller, a group of private investors. Managing Director Brett Paulsrud and Associate Sam Campbell secured acquisition financing for the buyer, a joint venture between Oliver Street Capital and Bain Capital Real Estate. Webster Five Centers Savings Bank originated the $10.7 million, fixed-rate loan.
The asset previously changed hands in January 2019, when Waldo Bros. Co. sold it for $7.3 million in a sale-leaseback transaction. The construction material provider continues to fully occupy the property.
Located on 2 acres at 202 Southampton St., the single-story facility was completed in 1970. The building has an office component, 29-foot clear heights, four grade-level and six dock-high doors. Situated a short distance from Interstate 93, the property is within 3 miles of downtown Boston.
In April, Paulsrud and Campbell facilitated a $13.3 million loan for the Bain Capital and Oliver Street joint venture’s acquisition of a 180,000-square-foot industrial property in Winchester, Mass. Tighe Logistics Group sold the asset for $19.4 million.